D&H 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.
D&H IMMO
Largest movements
- Tangible fixed assets +€1.9m
up €1.9m (+41.7%), from €4.5m to €6.3m
of which Land and buildings: +€1.8m
- Debts after one year +€2.3m
up €2.3m (+75.9%), from €3.0m to €5.3m
- Other debts -€966,158
down €966,158 (-53.2%), from €1.8m to €848,634
- Current portion of long-term debt +€195,793
up €195,793 (+67.5%), from €290,184 to €485,977
- Trade debts +€178,842
up €178,842 (+583.4%), from €30,654 to €209,496
- Reserves +€140,954
up €140,954 (+7.7%), from €1.8m to €2.0m
of which Distributable reserves: +€145,521
- Gross operating margin +€560,415
up €560,415 (+83.7%), from €669,365 to €1.2m
- Staff costs +€321,802
up €321,802 (+153.3%), from €209,864 to €531,666
- Depreciation +€123,110
up €123,110 (+79.1%), from €155,676 to €278,786
- Financial charges +€67,100
up €67,100 (+108.8%), from €61,692 to €128,792
- Other operating charges -€18,093
down €18,093 (-13.7%), from €132,491 to €114,398
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 | €9,355,978 | €11,246,405 | +€1.9m | +20.2% |
| Fixed assets | 21/28 | €9,129,191 | €10,984,460 | +€1.9m | +20.3% |
| Tangible fixed assets | 22/27 | €4,452,003 | €6,307,271 | +€1.9m | +41.7% |
| Land and buildings | 22 | €4,258,038 | €6,024,623 | +€1.8m | +41.5% |
| Furniture and vehicles | 24 | €154,323 | €118,705 | -€35,618 | -23.1% |
| Leasing and similar rights | 25 | €39,642 | €163,943 | +€124,301 | +313.6% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €4,677,189 | €4,677,189 | = | 0.0% |
| Current assets | 29/58 | €226,786 | €261,945 | +€35,158 | +15.5% |
| Amounts receivable within one year | 40/41 | €142,114 | €216,463 | +€74,350 | +52.3% |
| Trade receivables | 40 | €123,246 | €188,930 | +€65,684 | +53.3% |
| Other amounts receivable | 41 | €18,868 | €27,534 | +€8,666 | +45.9% |
| Cash at bank and in hand | 54/58 | €82,580 | €37,135 | -€45,444 | -55.0% |
| Deferred charges and accrued income | 490/1 | €2,093 | €8,346 | +€6,253 | +298.8% |
| Total equity and liabilities | 10/49 | €9,355,978 | €11,246,405 | +€1.9m | +20.2% |
| Equity | 10/15 | €4,040,974 | €4,181,929 | +€140,954 | +3.5% |
| Contributions | 10/11 | €2,206,796 | €2,206,796 | = | 0.0% |
| Reserves | 13 | €1,834,179 | €1,975,133 | +€140,954 | +7.7% |
| Tax-exempt reserves | 132 | €92,669 | €88,103 | -€4,566 | -4.9% |
| Distributable reserves | 133 | €1,741,510 | €1,887,030 | +€145,521 | +8.4% |
| Provisions and deferred taxes | 16 | €30,890 | €29,368 | -€1,522 | -4.9% |
| Deferred taxes | 168 | €30,890 | €29,368 | -€1,522 | -4.9% |
| Amounts payable | 17/49 | €5,284,114 | €7,035,108 | +€1.8m | +33.1% |
| Amounts payable after more than one year | 17 | €3,034,004 | €5,337,198 | +€2.3m | +75.9% |
| Financial debts | 170/4 | €3,034,004 | €5,337,198 | +€2.3m | +75.9% |
| Amounts payable within one year | 42/48 | €2,248,691 | €1,697,530 | -€551,161 | -24.5% |
| Current portion of amounts payable after more than one year | 42 | €290,184 | €485,977 | +€195,793 | +67.5% |
| Financial debts | 43 | €0 | €36,776 | +€36,776 | |
| Credit institutions | 430/8 | €0 | €36,776 | +€36,776 | |
| Trade debts | 44 | €30,654 | €209,496 | +€178,842 | +583.4% |
| Suppliers | 440/4 | €30,654 | €209,496 | +€178,842 | +583.4% |
| Taxes, remuneration and social security | 45 | €113,062 | €116,648 | +€3,585 | +3.2% |
| Taxes | 450/3 | €59,458 | €25,425 | -€34,033 | -57.2% |
| Remuneration and social security | 454/9 | €53,605 | €91,223 | +€37,618 | +70.2% |
| Other amounts payable | 47/48 | €1,814,792 | €848,634 | -€966,158 | -53.2% |
| Accrued charges and deferred income | 492/3 | €1,419 | €381 | -€1,038 | -73.2% |
| Remuneration, social security and pensions | 62 | €209,864 | €531,666 | +€321,802 | +153.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €155,676 | €278,786 | +€123,110 | +79.1% |
| Other operating charges | 640/8 | €132,491 | €114,398 | -€18,093 | -13.7% |
| Gross operating margin | 9900 | €669,365 | €1,229,780 | +€560,415 | +83.7% |
| Operating profit (loss) | 9901 | €171,335 | €304,931 | +€133,597 | +78.0% |
| Financial income | 75/76B | €29,369 | €12,627 | -€16,742 | -57.0% |
| Recurring financial income | 75 | €29,369 | €12,627 | -€16,742 | -57.0% |
| Financial charges | 65/66B | €61,692 | €128,792 | +€67,100 | +108.8% |
| Recurring financial charges | 65 | €61,692 | €128,792 | +€67,100 | +108.8% |
| Profit (loss) for the period before taxes | 9903 | €139,012 | €188,767 | +€49,755 | +35.8% |
| Transfer from deferred taxes | 780 | €2,734 | €1,522 | -€1,212 | -44.3% |
| Income taxes | 67/77 | €40,823 | €49,334 | +€8,511 | +20.8% |
| Profit (loss) for the period | 9904 | €100,923 | €140,954 | +€40,032 | +39.7% |
| Transfer from tax-exempt reserves | 789 | €8,203 | €4,566 | -€3,636 | -44.3% |
| Profit (loss) for the period to be appropriated | 9905 | €109,125 | €145,521 | +€36,395 | +33.4% |
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 9 October 2026 via checked.be.