CEDALIMMO: 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.
What changed
CEDALIMMO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€18,074
2024 · -€79,420+€61,346
Equity
€167,981
2024 · €186,055-€18,074
Cash
€14,880
2024 · €13,185+€1,695
Balance sheet total
€2.1m
2024 · €2.2m-€142,510
Largest movements
Assets
- Tangible fixed assets -€62,441
down €62,441 (-3.2%), from €2.0m to €1.9m
of which Land and buildings: -€50,477
- Receivables within one year -€60,814
down €60,814 (-25.4%), from €239,649 to €178,835
of which Other amounts receivable: -€81,207
Equity and liabilities
- Debts after one year -€115,654
down €115,654 (-6.5%), from €1.8m to €1.7m
Income statement
- Gross operating margin +€89,019
up €89,019 (+102%), from €86,920 to €175,939
- Depreciation +€12,171
up €12,171 (+11.8%), from €103,466 to €115,637
- Financial charges +€8,718
up €8,718 (+15.9%), from €54,809 to €63,527
- Other operating charges +€4,583
up €4,583 (+30.8%), from €14,882 to €19,464
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
-€79,420
Gross operating margin
+€89,019
Staff costs
-€1,242
Depreciation
-€12,171
Other operating charges
-€4,583
Financial income
-€959
Financial charges
-€8,718
Result 2025
-€18,074
raises the resultlowers the result
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.
From operations
+€179,448
Investment
-€53,196
Financing
-€124,557
Cash 2024
€13,185
From operations (derived)
+€179,448
Net result for the year
-€18,074
Depreciation
+€115,637
Stocks and contracts
+€19,259
Receivables within one year
+€60,814
Deferred charges and accrued income
+€1,691
Provisions
-€2,136
Trade debts
+€2,746
Tax, wage and social debts
+€4,321
Other debts
-€9,592
Accrued charges and deferred income
+€4,783
Investment (derived)
-€53,196
Investment in fixed assets (net)
-€53,196
Financing
-€124,557
Debts after one year
-€115,654
Current portion of long-term debt
-€8,903
Cash 2025
€14,880
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,241,022 | €2,098,512 | -€142,510 | -6.4% |
| Fixed assets | 21/28 | €1,961,894 | €1,899,452 | -€62,441 | -3.2% |
| Tangible fixed assets | 22/27 | €1,961,394 | €1,898,952 | -€62,441 | -3.2% |
| Land and buildings | 22 | €1,926,950 | €1,876,473 | -€50,477 | -2.6% |
| Plant, machinery and equipment | 23 | €28,206 | €19,763 | -€8,443 | -29.9% |
| Furniture and vehicles | 24 | €6,238 | €2,716 | -€3,522 | -56.5% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €279,128 | €199,060 | -€80,069 | -28.7% |
| Stocks and contracts in progress | 3 | €19,259 | €0 | -€19,259 | -100% |
| Stocks | 30/36 | €19,259 | €0 | -€19,259 | -100% |
| Amounts receivable within one year | 40/41 | €239,649 | €178,835 | -€60,814 | -25.4% |
| Trade receivables | 40 | €20,505 | €40,898 | +€20,393 | +99.5% |
| Other amounts receivable | 41 | €219,144 | €137,937 | -€81,207 | -37.1% |
| Cash at bank and in hand | 54/58 | €13,185 | €14,880 | +€1,695 | +12.9% |
| Deferred charges and accrued income | 490/1 | €7,035 | €5,344 | -€1,691 | -24.0% |
| Total equity and liabilities | 10/49 | €2,241,022 | €2,098,512 | -€142,510 | -6.4% |
| Equity | 10/15 | €186,055 | €167,981 | -€18,074 | -9.7% |
| Contributions | 10/11 | €43,600 | €43,600 | = | 0.0% |
| Reserves | 13 | €206,898 | €200,488 | -€6,410 | -3.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €205,038 | €198,628 | -€6,410 | -3.1% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,443 | -€76,107 | -€11,664 | -18.1% |
| Provisions and deferred taxes | 16 | €68,346 | €66,210 | -€2,136 | -3.1% |
| Deferred taxes | 168 | €68,346 | €66,210 | -€2,136 | -3.1% |
| Amounts payable | 17/49 | €1,986,621 | €1,864,321 | -€122,299 | -6.2% |
| Amounts payable after more than one year | 17 | €1,775,844 | €1,660,190 | -€115,654 | -6.5% |
| Financial debts | 170/4 | €1,775,844 | €1,660,190 | -€115,654 | -6.5% |
| Amounts payable within one year | 42/48 | €197,432 | €186,003 | -€11,429 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €137,461 | €128,558 | -€8,903 | -6.5% |
| Trade debts | 44 | €11,175 | €13,920 | +€2,746 | +24.6% |
| Suppliers | 440/4 | €11,175 | €13,920 | +€2,746 | +24.6% |
| Taxes, remuneration and social security | 45 | €150 | €4,471 | +€4,321 | +2,879% |
| Taxes | 450/3 | €150 | €4,471 | +€4,321 | +2,879% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €48,646 | €39,054 | -€9,592 | -19.7% |
| Accrued charges and deferred income | 492/3 | €13,345 | €18,128 | +€4,783 | +35.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | -€1,242 | €0 | +€1,242 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,466 | €115,637 | +€12,171 | +11.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €14,882 | €19,464 | +€4,583 | +30.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €86,920 | €175,939 | +€89,019 | +102% |
| Operating profit (loss) | 9901 | -€30,185 | €40,838 | +€71,023 | |
| Financial income | 75/76B | €3,438 | €2,479 | -€959 | -27.9% |
| Recurring financial income | 75 | €3,438 | €2,479 | -€959 | -27.9% |
| Financial charges | 65/66B | €54,809 | €63,527 | +€8,718 | +15.9% |
| Recurring financial charges | 65 | €54,809 | €63,527 | +€8,718 | +15.9% |
| Profit (loss) for the period before taxes | 9903 | -€81,556 | -€20,210 | +€61,346 | +75.2% |
| Transfer from deferred taxes | 780 | €2,136 | €2,136 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€79,420 | -€18,074 | +€61,346 | +77.2% |
| Transfer from tax-exempt reserves | 789 | €6,410 | €6,410 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€73,010 | -€11,664 | +€61,346 | +84.0% |
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 17 October 2026 via checked.be.