ADFINANCE-IMMOBEL: what changed
Two financial 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.
ADFINANCE-IMMOBEL
Largest movements
- Tangible fixed assets -€10,645
down €10,645 (-3.4%), from €313,343 to €302,698
- Deferred charges and accrued income +€4,783
up €4,783 (+354%), from €1,350 to €6,133
- Debts after one year -€20,895
down €20,895 (-34.8%), from €60,130 to €39,235
- Profit (loss) carried forward +€12,518
up €12,518 (+4.9%), from €255,245 to €267,763
- Gross operating margin -€57,801
down €57,801 (-70.3%), from €82,271 to €24,470
- Taxes -€14,690
down €14,690 (-77.3%), from €19,002 to €4,311
- Financial income +€5,348
up €5,348 (+396%), from €1,350 to €6,698
- Financial charges +€5,291
up €5,291, from -€3,630 to €1,661
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.
Derived cash bridge
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 | €446,218 | €438,470 | -€7,747 | -1.7% |
| Fixed assets | 21/28 | €313,343 | €302,698 | -€10,645 | -3.4% |
| Tangible fixed assets | 22/27 | €313,343 | €302,698 | -€10,645 | -3.4% |
| Land and buildings | 22 | €313,343 | €302,698 | -€10,645 | -3.4% |
| Current assets | 29/58 | €132,875 | €135,773 | +€2,898 | +2.2% |
| Amounts receivable after more than one year | 29 | €1,253 | €1,253 | = | 0.0% |
| Other amounts receivable | 291 | €1,253 | €1,253 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €121,000 | €122,725 | +€1,725 | +1.4% |
| Other amounts receivable | 41 | €121,000 | €122,725 | +€1,725 | +1.4% |
| Cash at bank and in hand | 54/58 | €9,272 | €5,662 | -€3,610 | -38.9% |
| Deferred charges and accrued income | 490/1 | €1,350 | €6,133 | +€4,783 | +354% |
| Total equity and liabilities | 10/49 | €446,218 | €438,470 | -€7,747 | -1.7% |
| Equity | 10/15 | €361,474 | €373,991 | +€12,518 | +3.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €87,629 | €87,629 | = | 0.0% |
| Distributable reserves | 133 | €87,629 | €87,629 | = | 0.0% |
| Profit (loss) carried forward | 14 | €255,245 | €267,763 | +€12,518 | +4.9% |
| Amounts payable | 17/49 | €84,744 | €64,479 | -€20,265 | -23.9% |
| Amounts payable after more than one year | 17 | €60,130 | €39,235 | -€20,895 | -34.8% |
| Financial debts | 170/4 | €60,130 | €39,235 | -€20,895 | -34.8% |
| Amounts payable within one year | 42/48 | €24,614 | €25,244 | +€630 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €20,546 | €20,895 | +€349 | +1.7% |
| Trade debts | 44 | €66 | €36 | -€30 | -45.4% |
| Suppliers | 440/4 | €66 | €36 | -€30 | -45.4% |
| Taxes, remuneration and social security | 45 | €4,002 | €4,313 | +€311 | +7.8% |
| Taxes | 450/3 | €4,002 | €4,313 | +€311 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,645 | €10,645 | = | 0.0% |
| Other operating charges | 640/8 | €2,521 | €2,033 | -€489 | -19.4% |
| Gross operating margin | 9900 | €82,271 | €24,470 | -€57,801 | -70.3% |
| Operating profit (loss) | 9901 | €69,105 | €11,792 | -€57,312 | -82.9% |
| Financial income | 75/76B | €1,350 | €6,698 | +€5,348 | +396% |
| Recurring financial income | 75 | €1,350 | €6,698 | +€5,348 | +396% |
| Financial charges | 65/66B | -€3,630 | €1,661 | +€5,291 | |
| Recurring financial charges | 65 | -€3,630 | €1,661 | +€5,291 | |
| Profit (loss) for the period before taxes | 9903 | €74,084 | €16,829 | -€57,256 | -77.3% |
| Income taxes | 67/77 | €19,002 | €4,311 | -€14,690 | -77.3% |
| Profit (loss) for the period | 9904 | €55,083 | €12,518 | -€42,565 | -77.3% |
| Profit (loss) for the period to be appropriated | 9905 | €55,083 | €12,518 | -€42,565 | -77.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.