AT Immobilier: 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.
AT Immobilier
Largest movements
- Financial fixed assets +€653,211
up €653,211 (+173%), from €378,555 to €1.0m
- Tangible fixed assets +€171,834
up €171,834 (+8.6%), from €2.0m to €2.2m
of which Land and buildings: +€105,019
- Revaluation surpluses +€653,211
up €653,211 (+50.5%), from €1.3m to €1.9m
- Debts after one year +€151,876
up €151,876 (+88.9%), from €170,781 to €322,657
of which Financial debts: +€153,726
- Depreciation +€31,799
up €31,799 (+77.5%), from €41,034 to €72,834
- Gross operating margin -€19,505
down €19,505 (-15.8%), from €123,296 to €103,791
- Taxes -€13,290
down €13,290 (-62.5%), from €21,278 to €7,988
- Financial charges +€6,993
up €6,993 (+158%), from €4,427 to €11,419
- Other operating charges +€3,223
up €3,223 (+41.4%), from €7,787 to €11,010
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 | €2,420,682 | €3,272,961 | +€852,279 | +35.2% |
| Fixed assets | 21/28 | €2,380,822 | €3,205,868 | +€825,046 | +34.7% |
| Tangible fixed assets | 22/27 | €2,002,268 | €2,174,102 | +€171,834 | +8.6% |
| Land and buildings | 22 | €1,924,406 | €2,029,426 | +€105,019 | +5.5% |
| Plant, machinery and equipment | 23 | €77,862 | €140,485 | +€62,623 | +80.4% |
| Furniture and vehicles | 24 | - | €4,192 | +€4,192 | |
| Financial fixed assets | 28 | €378,555 | €1,031,766 | +€653,211 | +173% |
| Current assets | 29/58 | €39,860 | €67,093 | +€27,233 | +68.3% |
| Cash at bank and in hand | 54/58 | €39,860 | €62,760 | +€22,900 | +57.5% |
| Deferred charges and accrued income | 490/1 | - | €4,333 | +€4,333 | |
| Total equity and liabilities | 10/49 | €2,420,682 | €3,272,961 | +€852,279 | +35.2% |
| Equity | 10/15 | €1,933,163 | €2,591,845 | +€658,682 | +34.1% |
| Contributions | 10/11 | €34,085 | €34,085 | = | 0.0% |
| Revaluation surpluses | 12 | €1,294,000 | €1,947,211 | +€653,211 | +50.5% |
| Reserves | 13 | €448,593 | €433,788 | -€14,805 | -3.3% |
| Tax-exempt reserves | 132 | €311,400 | €296,595 | -€14,805 | -4.8% |
| Distributable reserves | 133 | €137,193 | €137,193 | = | 0.0% |
| Profit (loss) carried forward | 14 | €156,484 | €176,760 | +€20,276 | +13.0% |
| Provisions and deferred taxes | 16 | €101,479 | €96,549 | -€4,930 | -4.9% |
| Deferred taxes | 168 | €101,479 | €96,549 | -€4,930 | -4.9% |
| Amounts payable | 17/49 | €386,041 | €584,568 | +€198,527 | +51.4% |
| Amounts payable after more than one year | 17 | €170,781 | €322,657 | +€151,876 | +88.9% |
| Financial debts | 170/4 | €161,781 | €315,507 | +€153,726 | +95.0% |
| Other amounts payable | 178/9 | €9,000 | €7,150 | -€1,850 | -20.6% |
| Amounts payable within one year | 42/48 | €213,841 | €260,699 | +€46,858 | +21.9% |
| Current portion of amounts payable after more than one year | 42 | €25,737 | €26,800 | +€1,063 | +4.1% |
| Trade debts | 44 | - | €6,076 | +€6,076 | |
| Suppliers | 440/4 | - | €6,076 | +€6,076 | |
| Taxes, remuneration and social security | 45 | €21,278 | €29,266 | +€7,988 | +37.5% |
| Taxes | 450/3 | €21,278 | €29,266 | +€7,988 | +37.5% |
| Other amounts payable | 47/48 | €166,827 | €198,558 | +€31,731 | +19.0% |
| Accrued charges and deferred income | 492/3 | €1,419 | €1,212 | -€207 | -14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,034 | €72,834 | +€31,799 | +77.5% |
| Other operating charges | 640/8 | €7,787 | €11,010 | +€3,223 | +41.4% |
| Gross operating margin | 9900 | €123,296 | €103,791 | -€19,505 | -15.8% |
| Operating profit (loss) | 9901 | €74,475 | €19,947 | -€54,527 | -73.2% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €4,427 | €11,419 | +€6,993 | +158% |
| Recurring financial charges | 65 | €4,427 | €11,419 | +€6,993 | +158% |
| Profit (loss) for the period before taxes | 9903 | €70,048 | €8,528 | -€61,520 | -87.8% |
| Transfer from deferred taxes | 780 | €4,930 | €4,930 | = | 0.0% |
| Income taxes | 67/77 | €21,278 | €7,988 | -€13,290 | -62.5% |
| Profit (loss) for the period | 9904 | €53,700 | €5,471 | -€48,229 | -89.8% |
| Transfer from tax-exempt reserves | 789 | €14,805 | €14,805 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €68,505 | €20,276 | -€48,229 | -70.4% |
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 23 October 2026 via checked.be.