ALM Immo: 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.
ALM Immo
Largest movements
- Tangible fixed assets -€59,500
down €59,500 (-4.4%), from €1.3m to €1.3m
- Cash -€43,822
down €43,822 (-39.0%), from €112,497 to €68,675
mainly Debts after one year (-€77,143) and Accrued charges and deferred income (-€33,086)
- Receivables within one year +€19,032
new in 2025: €19,032
- Debts after one year -€77,143
down €77,143 (-6.9%), from €1.1m to €1.0m
- Accrued charges and deferred income -€33,086
down €33,086 (-71.1%), from €46,527 to €13,441
- Profit (loss) carried forward +€16,062
up €16,062 (+7.9%), from -€202,572 to -€186,510
- Other operating charges -€196,040
down €196,040 (-100.0%), from €196,128 to €88
- Gross operating margin +€24,243
up €24,243 (+19.3%), from €125,757 to €150,000
- Depreciation +€4,958
up €4,958 (+9.1%), from €54,542 to €59,500
- Financial charges -€3,309
down €3,309 (-4.3%), from €77,659 to €74,351
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 | €1,457,955 | €1,373,665 | -€84,290 | -5.8% |
| Fixed assets | 21/28 | €1,345,458 | €1,285,958 | -€59,500 | -4.4% |
| Tangible fixed assets | 22/27 | €1,345,458 | €1,285,958 | -€59,500 | -4.4% |
| Land and buildings | 22 | €1,345,458 | €1,285,958 | -€59,500 | -4.4% |
| Current assets | 29/58 | €112,497 | €87,707 | -€24,790 | -22.0% |
| Amounts receivable within one year | 40/41 | - | €19,032 | +€19,032 | |
| Other amounts receivable | 41 | - | €19,032 | +€19,032 | |
| Cash at bank and in hand | 54/58 | €112,497 | €68,675 | -€43,822 | -39.0% |
| Total equity and liabilities | 10/49 | €1,457,955 | €1,373,665 | -€84,290 | -5.8% |
| Equity | 10/15 | €197,428 | €213,490 | +€16,062 | +8.1% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | - | €400,000 | +€400,000 | |
| Issued capital | 100 | - | €400,000 | +€400,000 | |
| Profit (loss) carried forward | 14 | -€202,572 | -€186,510 | +€16,062 | +7.9% |
| Amounts payable | 17/49 | €1,260,527 | €1,160,175 | -€100,352 | -8.0% |
| Amounts payable after more than one year | 17 | €1,118,571 | €1,041,428 | -€77,143 | -6.9% |
| Financial debts | 170/4 | €1,118,571 | €1,041,428 | -€77,143 | -6.9% |
| Amounts payable within one year | 42/48 | €95,429 | €105,306 | +€9,877 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €81,429 | €85,714 | +€4,286 | +5.3% |
| Taxes, remuneration and social security | 45 | - | €5,591 | +€5,591 | |
| Taxes | 450/3 | - | €5,591 | +€5,591 | |
| Other amounts payable | 47/48 | €14,000 | €14,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €46,527 | €13,441 | -€33,086 | -71.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,542 | €59,500 | +€4,958 | +9.1% |
| Other operating charges | 640/8 | €196,128 | €88 | -€196,040 | -100.0% |
| Gross operating margin | 9900 | €125,757 | €150,000 | +€24,243 | +19.3% |
| Operating profit (loss) | 9901 | -€124,912 | €90,412 | +€215,325 | |
| Financial charges | 65/66B | €77,659 | €74,351 | -€3,309 | -4.3% |
| Recurring financial charges | 65 | €77,659 | €74,351 | -€3,309 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | -€202,572 | €16,062 | +€218,633 | |
| Profit (loss) for the period | 9904 | -€202,572 | €16,062 | +€218,633 | |
| Profit (loss) for the period to be appropriated | 9905 | -€202,572 | €16,062 | +€218,633 |
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 9 October 2026 via checked.be.