AD-IMMO: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
AD-IMMO
Largest movements
- Tangible fixed assets -€558,299
down €558,299 (-24.8%), from €2.2m to €1.7m
of which Land and buildings: -€556,808
- Receivables within one year +€124,498
up €124,498 (+426.4%), from €29,195 to €153,692
of which Other amounts receivable: +€119,736
- Current investments +€100,000
new in 2025: €100,000
- Cash +€35,451
up €35,451 (+761.7%), from €4,654 to €40,105
mainly Investment in fixed assets (net) (+€467,336) and Net result for the year (+€186,434)
- Debts after one year -€406,104
down €406,104 (-35.1%), from €1.2m to €752,271
- Reserves +€186,400
up €186,400 (+4005.3%), from €4,654 to €191,054
of which Distributable reserves: +€186,400
- Current portion of long-term debt -€32,402
down €32,402 (-27.1%), from €119,426 to €87,024
- Financial income +€240,885
new in 2025: €240,885
of which Non-recurring financial income: +€240,885
- Taxes +€82,791
new in 2025: €82,791
- Depreciation -€13,115
down €13,115 (-12.6%), from €104,078 to €90,963
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,283,559 | €1,985,082 | -€298,477 | -13.1% |
| Fixed assets | 21/28 | €2,247,324 | €1,689,026 | -€558,299 | -24.8% |
| Tangible fixed assets | 22/27 | €2,247,324 | €1,689,026 | -€558,299 | -24.8% |
| Land and buildings | 22 | €2,245,030 | €1,688,221 | -€556,808 | -24.8% |
| Furniture and vehicles | 24 | €2,295 | €804 | -€1,490 | -64.9% |
| Current assets | 29/58 | €36,234 | €296,056 | +€259,822 | +717.1% |
| Amounts receivable within one year | 40/41 | €29,195 | €153,692 | +€124,498 | +426.4% |
| Trade receivables | 40 | €29,195 | €33,957 | +€4,762 | +16.3% |
| Other amounts receivable | 41 | - | €119,736 | +€119,736 | |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €4,654 | €40,105 | +€35,451 | +761.7% |
| Deferred charges and accrued income | 490/1 | €2,386 | €2,259 | -€127 | -5.3% |
| Total equity and liabilities | 10/49 | €2,283,559 | €1,985,082 | -€298,477 | -13.1% |
| Equity | 10/15 | €427,632 | €609,380 | +€181,747 | +42.5% |
| Contributions | 10/11 | €46,539 | €46,539 | = | 0.0% |
| Reserves | 13 | €4,654 | €191,054 | +€186,400 | +4005.3% |
| Non-distributable reserves | 130/1 | €4,654 | €4,654 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,654 | €4,654 | = | 0.0% |
| Distributable reserves | 133 | - | €186,400 | +€186,400 | |
| Profit (loss) carried forward | 14 | €276,449 | €276,483 | +€34 | 0.0% |
| Investment grants | 15 | €99,990 | €95,303 | -€4,687 | -4.7% |
| Amounts payable | 17/49 | €1,855,926 | €1,375,702 | -€480,224 | -25.9% |
| Amounts payable after more than one year | 17 | €1,158,375 | €752,271 | -€406,104 | -35.1% |
| Financial debts | 170/4 | €1,158,375 | €752,271 | -€406,104 | -35.1% |
| Amounts payable within one year | 42/48 | €697,552 | €623,431 | -€74,120 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €119,426 | €87,024 | -€32,402 | -27.1% |
| Financial debts | 43 | €10,000 | - | -€10,000 | |
| Credit institutions | 430/8 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | €15,225 | €1,239 | -€13,986 | -91.9% |
| Suppliers | 440/4 | €15,225 | €1,239 | -€13,986 | -91.9% |
| Taxes, remuneration and social security | 45 | €1,122 | €2,404 | +€1,282 | +114.3% |
| Taxes | 450/3 | €1,122 | €2,404 | +€1,282 | +114.3% |
| Other amounts payable | 47/48 | €551,779 | €532,765 | -€19,014 | -3.4% |
| Remuneration, social security and pensions | 62 | €2,337 | €1,231 | -€1,106 | -47.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,078 | €90,963 | -€13,115 | -12.6% |
| Other operating charges | 640/8 | €28,304 | €28,801 | +€497 | +1.8% |
| Gross operating margin | 9900 | €184,739 | €185,512 | +€773 | +0.4% |
| Operating profit (loss) | 9901 | €50,020 | €64,517 | +€14,497 | +29.0% |
| Financial income | 75/76B | - | €240,885 | +€240,885 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €240,885 | +€240,885 | |
| Financial charges | 65/66B | €34,756 | €36,177 | +€1,421 | +4.1% |
| Recurring financial charges | 65 | €34,756 | €36,177 | +€1,421 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €15,264 | €269,225 | +€253,961 | +1663.8% |
| Income taxes | 67/77 | - | €82,791 | +€82,791 | |
| Profit (loss) for the period | 9904 | €15,264 | €186,434 | +€171,171 | +1121.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,264 | €186,434 | +€171,171 | +1121.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.