AS IMMO sprl: 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.
AS IMMO sprl
Largest movements
- Tangible fixed assets +€363,271
up €363,271 (+34.3%), from €1.1m to €1.4m
of which Land and buildings: +€426,537
- Receivables within one year +€202,701
up €202,701 (+343%), from €59,053 to €261,754
of which Trade receivables: +€200,091
- Stocks and contracts -€90,833
down €90,833 (-10.5%), from €865,278 to €774,445
- Cash -€47,159
down €47,159 (-99.6%), from €47,342 to €183
mainly Investment in fixed assets (net) (-€450,819) and Short-term financial debts (-€203,805)
- Deferred charges and accrued income +€36,891
up €36,891 (+1,954%), from €1,888 to €38,778
- Debts after one year +€511,067
up €511,067 (+100.0%), from €511,095 to €1.0m
- Short-term financial debts -€203,805
down €203,805 (-50.5%), from €403,805 to €200,000
- Other debts +€195,712
up €195,712 (+59.5%), from €328,658 to €524,369
- Tax, wage and social debts -€75,326
down €75,326 (-85.3%), from €88,329 to €13,003
of which Taxes: -€74,413
- Current portion of long-term debt +€32,169
up €32,169 (+29.5%), from €108,960 to €141,129
- Gross operating margin +€143,605
up €143,605 (+72.2%), from €198,818 to €342,422
- Other operating charges +€62,779
up €62,779 (+403%), from €15,574 to €78,353
- Staff costs -€32,078
down €32,078 (-22.6%), from €141,978 to €109,900
- Depreciation +€16,500
up €16,500 (+23.2%), from €71,047 to €87,547
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 | €2,033,039 | €2,497,910 | +€464,871 | +22.9% |
| Fixed assets | 21/28 | €1,059,479 | €1,422,750 | +€363,271 | +34.3% |
| Tangible fixed assets | 22/27 | €1,059,479 | €1,422,750 | +€363,271 | +34.3% |
| Land and buildings | 22 | €957,959 | €1,384,495 | +€426,537 | +44.5% |
| Plant, machinery and equipment | 23 | €670 | €350 | -€320 | -47.8% |
| Furniture and vehicles | 24 | €73,747 | €14,940 | -€58,807 | -79.7% |
| Other tangible fixed assets | 26 | €27,103 | €22,965 | -€4,138 | -15.3% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €973,561 | €1,075,160 | +€101,599 | +10.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €865,278 | €774,445 | -€90,833 | -10.5% |
| Stocks | 30/36 | €865,278 | €774,445 | -€90,833 | -10.5% |
| Amounts receivable within one year | 40/41 | €59,053 | €261,754 | +€202,701 | +343% |
| Trade receivables | 40 | €59,053 | €259,145 | +€200,091 | +339% |
| Other amounts receivable | 41 | €0 | €2,609 | +€2,609 | |
| Cash at bank and in hand | 54/58 | €47,342 | €183 | -€47,159 | -99.6% |
| Deferred charges and accrued income | 490/1 | €1,888 | €38,778 | +€36,891 | +1,954% |
| Total equity and liabilities | 10/49 | €2,033,039 | €2,497,910 | +€464,871 | +22.9% |
| Equity | 10/15 | €510,315 | €502,946 | -€7,369 | -1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €416,360 | €416,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €414,500 | €414,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,355 | €67,986 | -€7,369 | -9.8% |
| Investment grants | 15 | €0 | - | = | |
| Amounts payable | 17/49 | €1,522,724 | €1,994,964 | +€472,240 | +31.0% |
| Amounts payable after more than one year | 17 | €511,095 | €1,022,161 | +€511,067 | +100.0% |
| Financial debts | 170/4 | €511,095 | €1,022,161 | +€511,067 | +100.0% |
| Amounts payable within one year | 42/48 | €977,703 | €948,130 | -€29,573 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €108,960 | €141,129 | +€32,169 | +29.5% |
| Financial debts | 43 | €403,805 | €200,000 | -€203,805 | -50.5% |
| Credit institutions | 430/8 | €403,805 | €200,000 | -€203,805 | -50.5% |
| Trade debts | 44 | €47,952 | €69,630 | +€21,677 | +45.2% |
| Suppliers | 440/4 | €47,952 | €69,630 | +€21,677 | +45.2% |
| Taxes, remuneration and social security | 45 | €88,329 | €13,003 | -€75,326 | -85.3% |
| Taxes | 450/3 | €85,629 | €11,216 | -€74,413 | -86.9% |
| Remuneration and social security | 454/9 | €2,700 | €1,787 | -€913 | -33.8% |
| Other amounts payable | 47/48 | €328,658 | €524,369 | +€195,712 | +59.5% |
| Accrued charges and deferred income | 492/3 | €33,926 | €24,672 | -€9,254 | -27.3% |
| Remuneration, social security and pensions | 62 | €141,978 | €109,900 | -€32,078 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,047 | €87,547 | +€16,500 | +23.2% |
| Other operating charges | 640/8 | €15,574 | €78,353 | +€62,779 | +403% |
| Gross operating margin | 9900 | €198,818 | €342,422 | +€143,605 | +72.2% |
| Operating profit (loss) | 9901 | -€29,781 | €66,622 | +€96,403 | |
| Financial income | 75/76B | €1,653 | €0 | -€1,653 | -100.0% |
| Recurring financial income | 75 | €1,653 | €0 | -€1,653 | -100.0% |
| Financial charges | 65/66B | €74,170 | €73,820 | -€351 | -0.5% |
| Recurring financial charges | 65 | €74,170 | €73,820 | -€351 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | -€102,299 | -€7,198 | +€95,101 | +93.0% |
| Income taxes | 67/77 | €589 | €171 | -€417 | -70.9% |
| Profit (loss) for the period | 9904 | -€102,887 | -€7,369 | +€95,518 | +92.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€102,887 | -€7,369 | +€95,518 | +92.8% |
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 22 October 2026 via checked.be.