CALL-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.
What changed
CALL-IMMO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€176,907
2024 · -€109,961-€66,946
Equity
€3.2m
2024 · €3.4m-€176,907
Cash
€120,576
2024 · €4,315+€116,261
Balance sheet total
€11.9m
2024 · €10.5m+€1.3m
Largest movements
Assets
- Receivables within one year +€758,316
up €758,316 (+21.7%), from €3.5m to €4.3m
of which Other amounts receivable: +€754,674
- Tangible fixed assets +€554,595
up €554,595 (+8.3%), from €6.7m to €7.2m
of which Land and buildings: +€556,108
Equity and liabilities
- Debts after one year +€1.9m
up €1.9m (+67.6%), from €2.9m to €4.8m
- Trade debts -€243,537
down €243,537 (-95.6%), from €254,783 to €11,246
- Profit (loss) carried forward -€215,578
down €215,578 (-56.7%), from €380,357 to €164,779
- Current portion of long-term debt -€208,245
down €208,245 (-6.0%), from €3.5m to €3.2m
Income statement
- Gross operating margin +€170,445
up €170,445 (+49.2%), from €346,269 to €516,714
- Financial charges +€127,400
up €127,400 (+56.3%), from €226,248 to €353,648
- Other operating charges +€112,008
up €112,008 (+328.9%), from €34,053 to €146,061
- Financial income +€35,142
up €35,142 (+47.5%), from €73,964 to €109,106
of which Financial income: +€35,142
- Depreciation -€5,871
down €5,871 (-1.9%), from €303,790 to €297,919
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.
Result 2024
-€109,961
Gross operating margin
+€170,445
Depreciation
+€5,871
Other operating charges
-€112,008
Financial income
+€35,142
Financial charges
-€127,400
Taxes
-€372
Deferred taxes and other
-€38,624
Result 2025
-€176,907
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.
From operations
-€746,324
Investment
-€852,514
Financing
+€1.7m
Cash 2024
€4,315
From operations (derived)
-€746,324
Net result for the year
-€176,907
Depreciation
+€297,919
Receivables within one year
-€758,316
Deferred charges and accrued income
+€98,845
Provisions
+€4,652
Trade debts
-€243,537
Tax, wage and social debts
-€8,965
Other debts
+€39,986
Investment (derived)
-€852,514
Investment in fixed assets (net)
-€852,514
Financing
+€1.7m
Debts after one year
+€1.9m
Current portion of long-term debt
-€208,245
Short-term financial debts
-€16,837
Contributions, distributions and other
+€1
Cash 2025
€120,576
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,527,660 | €11,857,986 | +€1.3m | +12.6% |
| Fixed assets | 21/28 | €6,673,308 | €7,227,903 | +€554,595 | +8.3% |
| Tangible fixed assets | 22/27 | €6,673,308 | €7,227,903 | +€554,595 | +8.3% |
| Land and buildings | 22 | €6,665,891 | €7,221,999 | +€556,108 | +8.3% |
| Plant, machinery and equipment | 23 | €7,196 | €5,904 | -€1,292 | -18.0% |
| Furniture and vehicles | 24 | €221 | €0 | -€221 | -100.0% |
| Current assets | 29/58 | €3,854,352 | €4,630,084 | +€775,732 | +20.1% |
| Amounts receivable within one year | 40/41 | €3,495,911 | €4,254,227 | +€758,316 | +21.7% |
| Trade receivables | 40 | - | €3,642 | +€3,642 | |
| Other amounts receivable | 41 | €3,495,911 | €4,250,585 | +€754,674 | +21.6% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,315 | €120,576 | +€116,261 | +2694.3% |
| Deferred charges and accrued income | 490/1 | €104,126 | €5,281 | -€98,845 | -94.9% |
| Total equity and liabilities | 10/49 | €10,527,660 | €11,857,986 | +€1.3m | +12.6% |
| Equity | 10/15 | €3,379,047 | €3,202,140 | -€176,907 | -5.2% |
| Contributions | 10/11 | €205,752 | €205,752 | -€0 | 0.0% |
| Capital | 10 | €205,752 | €205,752 | -€0 | 0.0% |
| Issued capital | 100 | €205,752 | €205,752 | -€0 | 0.0% |
| Revaluation surpluses | 12 | €1,861,892 | €1,861,892 | +€0 | 0.0% |
| Reserves | 13 | €931,046 | €969,717 | +€38,671 | +4.2% |
| Non-distributable reserves | 130/1 | €20,575 | €20,575 | +€0 | 0.0% |
| Legal reserve | 130 | €20,575 | €20,575 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | €906,877 | €945,547 | +€38,670 | +4.3% |
| Distributable reserves | 133 | €3,594 | €3,594 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €380,357 | €164,779 | -€215,578 | -56.7% |
| Provisions and deferred taxes | 16 | €410,131 | €414,783 | +€4,652 | +1.1% |
| Deferred taxes | 168 | €410,131 | €414,783 | +€4,652 | +1.1% |
| Amounts payable | 17/49 | €6,738,482 | €8,241,064 | +€1.5m | +22.3% |
| Amounts payable after more than one year | 17 | €2,869,070 | €4,809,250 | +€1.9m | +67.6% |
| Financial debts | 170/4 | €2,869,070 | €4,809,250 | +€1.9m | +67.6% |
| Amounts payable within one year | 42/48 | €3,869,412 | €3,431,813 | -€437,599 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €3,455,906 | €3,247,661 | -€208,245 | -6.0% |
| Financial debts | 43 | €17,420 | €583 | -€16,837 | -96.7% |
| Credit institutions | 430/8 | €17,420 | €583 | -€16,837 | -96.7% |
| Trade debts | 44 | €254,783 | €11,246 | -€243,537 | -95.6% |
| Suppliers | 440/4 | €254,783 | €11,246 | -€243,537 | -95.6% |
| Taxes, remuneration and social security | 45 | €9,406 | €441 | -€8,965 | -95.3% |
| Taxes | 450/3 | €9,406 | €441 | -€8,965 | -95.3% |
| Other amounts payable | 47/48 | €131,897 | €171,883 | +€39,986 | +30.3% |
| Non-recurring operating income | 76A | - | €151,531 | +€151,531 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €303,790 | €297,919 | -€5,871 | -1.9% |
| Other operating charges | 640/8 | €34,053 | €146,061 | +€112,008 | +328.9% |
| Gross operating margin | 9900 | €346,269 | €516,714 | +€170,445 | +49.2% |
| Operating profit (loss) | 9901 | €8,426 | €72,734 | +€64,308 | +763.2% |
| Financial income | 75/76B | €73,964 | €109,106 | +€35,142 | +47.5% |
| Recurring financial income | 75 | €73,964 | €109,106 | +€35,142 | +47.5% |
| Non-recurring financial income | 76B | €73,964 | €0 | -€73,964 | -100.0% |
| Financial charges | 65/66B | €226,248 | €353,648 | +€127,400 | +56.3% |
| Recurring financial charges | 65 | €226,248 | €353,648 | +€127,400 | +56.3% |
| Profit (loss) for the period before taxes | 9903 | -€143,858 | -€171,808 | -€27,950 | -19.4% |
| Transfer from deferred taxes | 780 | €33,972 | €33,976 | +€4 | 0.0% |
| Transfer to deferred taxes | 680 | - | €38,628 | +€38,628 | |
| Income taxes | 67/77 | €75 | €447 | +€372 | +496.7% |
| Profit (loss) for the period | 9904 | -€109,961 | -€176,907 | -€66,946 | -60.9% |
| Transfer from tax-exempt reserves | 789 | €73,601 | €74,232 | +€631 | +0.9% |
| Transfer to tax-exempt reserves | 689 | - | €112,903 | +€112,903 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,360 | -€215,578 | -€179,218 | -492.9% |
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 2 October 2026 via checked.be.