ATD 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.
ATD IMMO
Largest movements
- Receivables within one year +€56,999
up €56,999 (+52.6%), from €108,273 to €165,272
of which Trade receivables: +€56,999
- Stocks and contracts +€46,371
new in 2025: €46,371
- Debts after one year +€99,819
up €99,819 (+6.6%), from €1.5m to €1.6m
- Trade debts -€25,571
down €25,571 (-23.7%), from €107,752 to €82,181
- Write-downs -€15,876
down €15,876, from €11,124 to -€4,752
- Gross operating margin -€14,380
down €14,380 (-47.8%), from €30,095 to €15,715
- Financial income -€9,953
no longer reported in 2025 (was €9,953)
- Financial charges -€3,364
down €3,364 (-46.8%), from €7,193 to €3,829
- Other operating charges +€446
up €446 (+5.8%), from €7,755 to €8,201
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,204,283 | €2,315,611 | +€111,328 | +5.1% |
| Fixed assets | 21/28 | €2,093,950 | €2,103,055 | +€9,105 | +0.4% |
| Tangible fixed assets | 22/27 | €2,088,425 | €2,101,674 | +€13,248 | +0.6% |
| Land and buildings | 22 | €238,264 | €238,264 | = | 0.0% |
| Plant, machinery and equipment | 23 | €821 | €60 | -€761 | -92.7% |
| Assets under construction and advance payments | 27 | €1,849,341 | €1,863,350 | +€14,009 | +0.8% |
| Financial fixed assets | 28 | €5,525 | €1,381 | -€4,144 | -75.0% |
| Current assets | 29/58 | €110,333 | €212,556 | +€102,224 | +92.7% |
| Stocks and contracts in progress | 3 | - | €46,371 | +€46,371 | |
| Stocks | 30/36 | - | €46,371 | +€46,371 | |
| Amounts receivable within one year | 40/41 | €108,273 | €165,272 | +€56,999 | +52.6% |
| Trade receivables | 40 | €2,336 | €59,335 | +€56,999 | +2,440% |
| Other amounts receivable | 41 | €105,937 | €105,937 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €2,059 | €913 | -€1,147 | -55.7% |
| Total equity and liabilities | 10/49 | €2,204,283 | €2,315,611 | +€111,328 | +5.1% |
| Equity | 10/15 | €58,517 | €66,193 | +€7,676 | +13.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,483 | -€33,807 | +€7,676 | +18.5% |
| Amounts payable | 17/49 | €2,145,766 | €2,249,418 | +€103,652 | +4.8% |
| Amounts payable after more than one year | 17 | €1,513,716 | €1,613,535 | +€99,819 | +6.6% |
| Financial debts | 170/4 | €1,513,716 | €1,613,535 | +€99,819 | +6.6% |
| Amounts payable within one year | 42/48 | €626,444 | €635,883 | +€9,439 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €402,839 | €420,560 | +€17,721 | +4.4% |
| Financial debts | 43 | €3,250 | €8,000 | +€4,751 | +146% |
| Credit institutions | 430/8 | €3,250 | €8,000 | +€4,751 | +146% |
| Trade debts | 44 | €107,752 | €82,181 | -€25,571 | -23.7% |
| Suppliers | 440/4 | €107,752 | €82,181 | -€25,571 | -23.7% |
| Taxes, remuneration and social security | 45 | €4,066 | €227 | -€3,839 | -94.4% |
| Taxes | 450/3 | €4,066 | €227 | -€3,839 | -94.4% |
| Other amounts payable | 47/48 | €108,538 | €124,915 | +€16,377 | +15.1% |
| Accrued charges and deferred income | 492/3 | €5,605 | - | -€5,605 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,148 | €761 | -€387 | -33.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,124 | -€4,752 | -€15,876 | |
| Other operating charges | 640/8 | €7,755 | €8,201 | +€446 | +5.8% |
| Gross operating margin | 9900 | €30,095 | €15,715 | -€14,380 | -47.8% |
| Operating profit (loss) | 9901 | €10,068 | €11,505 | +€1,437 | +14.3% |
| Financial income | 75/76B | €9,953 | - | -€9,953 | |
| Recurring financial income | 75 | €9,953 | - | -€9,953 | |
| Financial charges | 65/66B | €7,193 | €3,829 | -€3,364 | -46.8% |
| Recurring financial charges | 65 | €7,193 | €3,829 | -€3,364 | -46.8% |
| Profit (loss) for the period before taxes | 9903 | €12,829 | €7,676 | -€5,153 | -40.2% |
| Profit (loss) for the period | 9904 | €12,829 | €7,676 | -€5,153 | -40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,829 | €7,676 | -€5,153 | -40.2% |
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 14 October 2026 via checked.be.