CALMAN 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.
CALMAN IMMO
Largest movements
- Tangible fixed assets +€226,347
up €226,347 (+3.3%), from €6.8m to €7.0m
of which Assets under construction and advance payments: +€435,504
- Cash +€138,151
up €138,151 (+260.4%), from €53,061 to €191,212
mainly Debts after one year (+€881,357) and Depreciation (+€209,156)
- Debts after one year +€881,357
up €881,357 (+24.0%), from €3.7m to €4.6m
- Other debts -€647,322
down €647,322 (-37.2%), from €1.7m to €1.1m
- Profit (loss) carried forward +€130,010
up €130,010 (+15.6%), from €832,524 to €962,533
- Depreciation -€198,830
down €198,830 (-48.7%), from €407,987 to €209,156
- Gross operating margin +€65,789
up €65,789 (+14.7%), from €448,352 to €514,141
- Financial charges +€61,322
up €61,322 (+89.8%), from €68,283 to €129,605
- Taxes +€31,208
up €31,208, from €0 to €31,208
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 | €6,937,910 | €7,348,376 | +€410,466 | +5.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €6,813,314 | €7,039,662 | +€226,347 | +3.3% |
| Tangible fixed assets | 22/27 | €6,813,314 | €7,039,662 | +€226,347 | +3.3% |
| Land and buildings | 22 | €5,251,165 | €5,042,008 | -€209,156 | -4.0% |
| Assets under construction and advance payments | 27 | €1,562,149 | €1,997,653 | +€435,504 | +27.9% |
| Current assets | 29/58 | €124,596 | €308,715 | +€184,119 | +147.8% |
| Amounts receivable within one year | 40/41 | €71,425 | €108,031 | +€36,606 | +51.3% |
| Trade receivables | 40 | €335 | €1,824 | +€1,489 | +444.8% |
| Other amounts receivable | 41 | €71,090 | €106,207 | +€35,117 | +49.4% |
| Cash at bank and in hand | 54/58 | €53,061 | €191,212 | +€138,151 | +260.4% |
| Deferred charges and accrued income | 490/1 | €110 | €9,471 | +€9,361 | +8531.4% |
| Total equity and liabilities | 10/49 | €6,937,910 | €7,348,376 | +€410,466 | +5.9% |
| Equity | 10/15 | €1,279,982 | €1,409,991 | +€130,010 | +10.2% |
| Contributions | 10/11 | €425,970 | €425,970 | = | 0.0% |
| Reserves | 13 | €21,488 | €21,488 | = | 0.0% |
| Non-distributable reserves | 130/1 | €21,488 | €21,488 | = | 0.0% |
| Reserves not available under the articles | 1311 | €21,488 | €21,488 | = | 0.0% |
| Profit (loss) carried forward | 14 | €832,524 | €962,533 | +€130,010 | +15.6% |
| Amounts payable | 17/49 | €5,657,928 | €5,938,385 | +€280,457 | +5.0% |
| Amounts payable after more than one year | 17 | €3,670,014 | €4,551,372 | +€881,357 | +24.0% |
| Financial debts | 170/4 | €3,670,014 | €4,551,372 | +€881,357 | +24.0% |
| Amounts payable within one year | 42/48 | €1,987,914 | €1,387,013 | -€600,901 | -30.2% |
| Current portion of amounts payable after more than one year | 42 | €235,466 | €229,757 | -€5,709 | -2.4% |
| Trade debts | 44 | €12,822 | €64,952 | +€52,130 | +406.6% |
| Suppliers | 440/4 | €12,822 | €64,952 | +€52,130 | +406.6% |
| Other amounts payable | 47/48 | €1,739,626 | €1,092,304 | -€647,322 | -37.2% |
| Accrued charges and deferred income | 492/3 | - | €0 | +€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €407,987 | €209,156 | -€198,830 | -48.7% |
| Other operating charges | 640/8 | €9,177 | €14,242 | +€5,066 | +55.2% |
| Gross operating margin | 9900 | €448,352 | €514,141 | +€65,789 | +14.7% |
| Operating profit (loss) | 9901 | €31,189 | €290,742 | +€259,554 | +832.2% |
| Financial income | 75/76B | €1 | €80 | +€79 | +7938.0% |
| Recurring financial income | 75 | €1 | €80 | +€79 | +7938.0% |
| Financial charges | 65/66B | €68,283 | €129,605 | +€61,322 | +89.8% |
| Recurring financial charges | 65 | €68,283 | €129,605 | +€61,322 | +89.8% |
| Profit (loss) for the period before taxes | 9903 | -€37,093 | €161,218 | +€198,311 | |
| Income taxes | 67/77 | €0 | €31,208 | +€31,208 | |
| Profit (loss) for the period | 9904 | -€37,093 | €130,010 | +€167,103 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,093 | €130,010 | +€167,103 |
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 10 October 2026 via checked.be.