CERD - 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.
CERD - IMMO
Largest movements
- Tangible fixed assets +€76,054
up €76,054 (+84.4%), from €90,091 to €166,145
of which Land and buildings: +€76,720
- Receivables within one year -€24,399
down €24,399 (-29.5%), from €82,616 to €58,217
- Cash +€10,879
up €10,879 (+145.7%), from €7,468 to €18,348
mainly Net result for the year (+€69,658) and Depreciation (+€25,486)
- Profit (loss) carried forward +€135,443
up €135,443 (+96.7%), from -€140,081 to -€4,638
- Reserves -€59,032
down €59,032 (-42.9%), from €137,520 to €78,488
of which Distributable reserves: -€59,032
- Other debts -€19,909
down €19,909 (-18.1%), from €109,843 to €89,934
- Trade debts +€6,047
up €6,047 (+48.6%), from €12,445 to €18,492
- Gross operating margin +€112,042
up €112,042, from -€5,976 to €106,066
- Depreciation +€8,116
up €8,116 (+46.7%), from €17,370 to €25,486
- Other operating charges -€7,379
down €7,379 (-43.0%), from €17,162 to €9,783
- Taxes +€1,339
up €1,339, from -€1,339 to €0
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 | €182,690 | €245,239 | +€62,549 | +34.2% |
| Fixed assets | 21/28 | €90,341 | €166,395 | +€76,054 | +84.2% |
| Tangible fixed assets | 22/27 | €90,091 | €166,145 | +€76,054 | +84.4% |
| Land and buildings | 22 | €89,425 | €166,145 | +€76,720 | +85.8% |
| Plant, machinery and equipment | 23 | €666 | €0 | -€666 | -100.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €92,348 | €78,844 | -€13,504 | -14.6% |
| Amounts receivable within one year | 40/41 | €82,616 | €58,217 | -€24,399 | -29.5% |
| Other amounts receivable | 41 | €82,616 | €58,217 | -€24,399 | -29.5% |
| Cash at bank and in hand | 54/58 | €7,468 | €18,348 | +€10,879 | +145.7% |
| Deferred charges and accrued income | 490/1 | €2,264 | €2,279 | +€15 | +0.7% |
| Total equity and liabilities | 10/49 | €182,690 | €245,239 | +€62,549 | +34.2% |
| Equity | 10/15 | €59,439 | €135,850 | +€76,411 | +128.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €137,520 | €78,488 | -€59,032 | -42.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €131,320 | €72,288 | -€59,032 | -45.0% |
| Profit (loss) carried forward | 14 | -€140,081 | -€4,638 | +€135,443 | +96.7% |
| Amounts payable | 17/49 | €123,251 | €109,389 | -€13,862 | -11.2% |
| Amounts payable after more than one year | 17 | €963 | €963 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €963 | €963 | = | 0.0% |
| Amounts payable within one year | 42/48 | €122,288 | €108,426 | -€13,862 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €12,445 | €18,492 | +€6,047 | +48.6% |
| Suppliers | 440/4 | €12,445 | €18,492 | +€6,047 | +48.6% |
| Other amounts payable | 47/48 | €109,843 | €89,934 | -€19,909 | -18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,370 | €25,486 | +€8,116 | +46.7% |
| Other operating charges | 640/8 | €17,162 | €9,783 | -€7,379 | -43.0% |
| Gross operating margin | 9900 | -€5,976 | €106,066 | +€112,042 | |
| Operating profit (loss) | 9901 | -€40,508 | €70,797 | +€111,305 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €1,847 | €1,139 | -€708 | -38.3% |
| Recurring financial charges | 65 | €1,847 | €1,139 | -€708 | -38.3% |
| Profit (loss) for the period before taxes | 9903 | -€42,355 | €69,658 | +€112,013 | |
| Income taxes | 67/77 | -€1,339 | €0 | +€1,339 | |
| Profit (loss) for the period | 9904 | -€41,016 | €69,658 | +€110,674 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,016 | €69,658 | +€110,674 |
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.