D - 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.
What changed
D - IMMO
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€284,491
2024 · €255,438+€29,052
Equity
€1.3m
2024 · €1.2m+€78,798
Cash
€14,083
2024 · €23,631-€9,547
Balance sheet total
€17.5m
2024 · €15.3m+€2.1m
Largest movements
Assets
- Financial fixed assets +€2.7m
up €2.7m (+131.7%), from €2.1m to €4.8m
- Receivables within one year -€964,306
down €964,306 (-40.9%), from €2.4m to €1.4m
of which Other amounts receivable: -€1.0m
- Tangible fixed assets +€421,440
up €421,440 (+3.9%), from €10.9m to €11.3m
of which Land and buildings: +€505,926
Equity and liabilities
- Other debts +€2.4m
up €2.4m (+50.1%), from €4.8m to €7.1m
- Tax, wage and social debts -€274,933
down €274,933 (-59.7%), from €460,740 to €185,807
- Debts after one year -€259,573
down €259,573 (-3.6%), from €7.3m to €7.0m
Income statement
- Gross operating margin +€83,778
up €83,778 (+5.2%), from €1.6m to €1.7m
- Other operating charges +€74,580
up €74,580 (+43.5%), from €171,502 to €246,082
- Financial charges -€63,821
down €63,821 (-21.3%), from €300,003 to €236,182
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
€255,438
Gross operating margin
+€83,778
Depreciation
-€10,046
Other operating charges
-€74,580
Other operating items
-€16,896
Financial income
-€264
Financial charges
+€63,821
Taxes
-€16,759
Result 2025
€284,491
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
+€4.1m
Investment
-€3.8m
Financing
-€352,003
Cash 2024
€23,631
From operations (derived)
+€4.1m
Net result for the year
+€284,491
Depreciation
+€637,725
Receivables within one year
+€964,306
Deferred charges and accrued income
-€423
Provisions
-€10,870
Trade debts
+€110,610
Tax, wage and social debts
-€274,933
Other debts
+€2.4m
Accrued charges and deferred income
+€13,052
Investment (derived)
-€3.8m
Investment in fixed assets (net)
-€3.8m
Financing
-€352,003
Debts after one year
-€259,573
Current portion of long-term debt
+€107,426
Short-term financial debts
+€5,837
Contributions, distributions and other
-€205,693
Cash 2025
€14,083
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,344,317 | €17,492,327 | +€2.1m | +14.0% |
| Fixed assets | 21/28 | €12,944,487 | €16,065,927 | +€3.1m | +24.1% |
| Tangible fixed assets | 22/27 | €10,893,597 | €11,315,037 | +€421,440 | +3.9% |
| Land and buildings | 22 | €10,618,272 | €11,124,198 | +€505,926 | +4.8% |
| Leasing and similar rights | 25 | €275,325 | €190,839 | -€84,487 | -30.7% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €2,050,890 | €4,750,890 | +€2.7m | +131.7% |
| Current assets | 29/58 | €2,399,830 | €1,426,400 | -€973,430 | -40.6% |
| Amounts receivable within one year | 40/41 | €2,358,014 | €1,393,708 | -€964,306 | -40.9% |
| Trade receivables | 40 | €97,459 | €181,897 | +€84,437 | +86.6% |
| Other amounts receivable | 41 | €2,260,554 | €1,211,811 | -€1.0m | -46.4% |
| Cash at bank and in hand | 54/58 | €23,631 | €14,083 | -€9,547 | -40.4% |
| Deferred charges and accrued income | 490/1 | €18,186 | €18,609 | +€423 | +2.3% |
| Total equity and liabilities | 10/49 | €15,344,317 | €17,492,327 | +€2.1m | +14.0% |
| Equity | 10/15 | €1,175,326 | €1,254,124 | +€78,798 | +6.7% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Capital | 10 | €110,000 | €110,000 | = | 0.0% |
| Issued capital | 100 | €110,000 | €110,000 | = | 0.0% |
| Revaluation surpluses | 12 | €256,113 | €281,345 | +€25,232 | +9.9% |
| Reserves | 13 | €809,214 | €862,779 | +€53,566 | +6.6% |
| Non-distributable reserves | 130/1 | €11,000 | €11,000 | = | 0.0% |
| Legal reserve | 130 | €11,000 | €11,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €308,768 | €276,158 | -€32,610 | -10.6% |
| Distributable reserves | 133 | €489,445 | €575,621 | +€86,176 | +17.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €101,611 | €90,741 | -€10,870 | -10.7% |
| Deferred taxes | 168 | €101,611 | €90,741 | -€10,870 | -10.7% |
| Amounts payable | 17/49 | €14,067,380 | €16,147,462 | +€2.1m | +14.8% |
| Amounts payable after more than one year | 17 | €7,288,125 | €7,028,552 | -€259,573 | -3.6% |
| Financial debts | 170/4 | €7,288,125 | €7,028,552 | -€259,573 | -3.6% |
| Amounts payable within one year | 42/48 | €6,733,270 | €9,059,873 | +€2.3m | +34.6% |
| Current portion of amounts payable after more than one year | 42 | €1,333,397 | €1,440,823 | +€107,426 | +8.1% |
| Financial debts | 43 | €58,825 | €64,662 | +€5,837 | +9.9% |
| Credit institutions | 430/8 | €58,825 | €64,662 | +€5,837 | +9.9% |
| Trade debts | 44 | €129,753 | €240,363 | +€110,610 | +85.2% |
| Suppliers | 440/4 | €129,753 | €240,363 | +€110,610 | +85.2% |
| Taxes, remuneration and social security | 45 | €460,740 | €185,807 | -€274,933 | -59.7% |
| Taxes | 450/3 | €460,740 | €185,807 | -€274,933 | -59.7% |
| Other amounts payable | 47/48 | €4,750,555 | €7,128,218 | +€2.4m | +50.1% |
| Accrued charges and deferred income | 492/3 | €45,985 | €59,037 | +€13,052 | +28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €627,679 | €637,725 | +€10,046 | +1.6% |
| Other operating charges | 640/8 | €171,502 | €246,082 | +€74,580 | +43.5% |
| Non-recurring operating charges | 66A | €181,686 | €198,582 | +€16,896 | +9.3% |
| Gross operating margin | 9900 | €1,599,557 | €1,683,335 | +€83,778 | +5.2% |
| Operating profit (loss) | 9901 | €618,691 | €600,946 | -€17,745 | -2.9% |
| Financial income | 75/76B | €29,419 | €29,155 | -€264 | -0.9% |
| Recurring financial income | 75 | €29,419 | €29,155 | -€264 | -0.9% |
| Financial charges | 65/66B | €300,003 | €236,182 | -€63,821 | -21.3% |
| Recurring financial charges | 65 | €300,003 | €236,182 | -€63,821 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €348,107 | €393,919 | +€45,812 | +13.2% |
| Transfer from deferred taxes | 780 | €10,870 | €10,870 | = | 0.0% |
| Income taxes | 67/77 | €103,539 | €120,298 | +€16,759 | +16.2% |
| Profit (loss) for the period | 9904 | €255,438 | €284,491 | +€29,052 | +11.4% |
| Transfer from tax-exempt reserves | 789 | €32,610 | €32,610 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €288,048 | €317,101 | +€29,052 | +10.1% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.