BX IMMO: what changed
Two fiscal 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.
BX IMMO
Largest movements
- Cash +€72,563
up €72,563 (+193.8%), from €37,445 to €110,008
mainly Depreciation (+€262,172) and Receivables within one year (+€32,131)
- Tangible fixed assets -€55,725
down €55,725 (-2.1%), from €2.7m to €2.7m
of which Other tangible fixed assets: -€105,504
- Reserves -€89,275
down €89,275 (-7.8%), from €1.1m to €1.0m
of which Tax-exempt reserves: -€89,275
- Profit (loss) carried forward +€81,758
up €81,758 (+8.6%), from €945,837 to €1.0m
- Gross operating margin +€65,542
up €65,542 (+22.9%), from €286,544 to €352,086
- Taxes +€16,807
up €16,807 (+137.4%), from €12,233 to €29,040
- Depreciation -€16,485
down €16,485 (-5.9%), from €278,657 to €262,172
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 | €3,692,755 | €3,677,462 | -€15,293 | -0.4% |
| Fixed assets | 21/28 | €3,392,450 | €3,336,725 | -€55,725 | -1.6% |
| Tangible fixed assets | 22/27 | €2,717,450 | €2,661,725 | -€55,725 | -2.1% |
| Land and buildings | 22 | €998,269 | €954,317 | -€43,952 | -4.4% |
| Plant, machinery and equipment | 23 | €433,828 | €529,282 | +€95,454 | +22.0% |
| Furniture and vehicles | 24 | €1,722 | €0 | -€1,722 | -100.0% |
| Other tangible fixed assets | 26 | €1,283,630 | €1,178,126 | -€105,504 | -8.2% |
| Financial fixed assets | 28 | €675,000 | €675,000 | = | 0.0% |
| Current assets | 29/58 | €300,305 | €340,737 | +€40,432 | +13.5% |
| Amounts receivable within one year | 40/41 | €262,860 | €230,729 | -€32,131 | -12.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €262,860 | €230,729 | -€32,131 | -12.2% |
| Cash at bank and in hand | 54/58 | €37,445 | €110,008 | +€72,563 | +193.8% |
| Total equity and liabilities | 10/49 | €3,692,755 | €3,677,462 | -€15,293 | -0.4% |
| Equity | 10/15 | €2,689,349 | €2,681,832 | -€7,516 | -0.3% |
| Contributions | 10/11 | €605,196 | €605,196 | = | 0.0% |
| Capital | 10 | €591,776 | €591,776 | = | 0.0% |
| Issued capital | 100 | €591,776 | €591,776 | = | 0.0% |
| Outside capital | 11 | €13,419 | €13,419 | = | 0.0% |
| Share premium | 1100/10 | €13,419 | €13,419 | = | 0.0% |
| Reserves | 13 | €1,138,316 | €1,049,042 | -€89,275 | -7.8% |
| Non-distributable reserves | 130/1 | €59,178 | €59,178 | = | 0.0% |
| Legal reserve | 130 | €59,178 | €59,178 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,079,097 | €989,822 | -€89,275 | -8.3% |
| Distributable reserves | 133 | €42 | €42 | = | 0.0% |
| Profit (loss) carried forward | 14 | €945,837 | €1,027,595 | +€81,758 | +8.6% |
| Provisions and deferred taxes | 16 | €337,862 | €308,104 | -€29,758 | -8.8% |
| Deferred taxes | 168 | €337,862 | €308,104 | -€29,758 | -8.8% |
| Amounts payable | 17/49 | €665,544 | €687,526 | +€21,982 | +3.3% |
| Amounts payable after more than one year | 17 | €480,128 | €483,836 | +€3,707 | +0.8% |
| Financial debts | 170/4 | €480,128 | €483,836 | +€3,707 | +0.8% |
| Amounts payable within one year | 42/48 | €185,416 | €203,690 | +€18,274 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €130,452 | €154,363 | +€23,910 | +18.3% |
| Trade debts | 44 | €44,094 | €28,055 | -€16,039 | -36.4% |
| Suppliers | 440/4 | €44,094 | €28,055 | -€16,039 | -36.4% |
| Taxes, remuneration and social security | 45 | €10,869 | €21,272 | +€10,404 | +95.7% |
| Taxes | 450/3 | €10,869 | €21,272 | +€10,404 | +95.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €278,657 | €262,172 | -€16,485 | -5.9% |
| Other operating charges | 640/8 | €83,097 | €85,651 | +€2,554 | +3.1% |
| Gross operating margin | 9900 | €286,544 | €352,086 | +€65,542 | +22.9% |
| Operating profit (loss) | 9901 | -€75,210 | €4,263 | +€79,473 | |
| Financial income | 75/76B | €3,035 | €3,977 | +€941 | +31.0% |
| Recurring financial income | 75 | €3,035 | €3,977 | +€941 | +31.0% |
| Financial charges | 65/66B | €14,387 | €16,474 | +€2,087 | +14.5% |
| Recurring financial charges | 65 | €14,387 | €16,474 | +€2,087 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | -€86,561 | -€8,235 | +€78,327 | +90.5% |
| Transfer from deferred taxes | 780 | €33,662 | €29,758 | -€3,903 | -11.6% |
| Income taxes | 67/77 | €12,233 | €29,040 | +€16,807 | +137.4% |
| Profit (loss) for the period | 9904 | -€65,132 | -€7,516 | +€57,616 | +88.5% |
| Transfer from tax-exempt reserves | 789 | €100,985 | €89,275 | -€11,710 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,852 | €81,758 | +€45,906 | +128.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.