E.C. 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.
E.C. IMMO
Largest movements
- Cash -€68,968
down €68,968 (-84.5%), from €81,573 to €12,604
mainly Receivables within one year (-€52,276) and Contributions, distributions and other (-€48,913)
- Receivables within one year +€52,276
up €52,276 (+30.6%), from €170,622 to €222,899
of which Other amounts receivable: +€26,818
- Tangible fixed assets +€35,613
up €35,613 (+1,314%), from €2,710 to €38,323
of which Land and buildings: +€33,428
- Tax, wage and social debts +€26,012
up €26,012 (+73.4%), from €35,432 to €61,444
of which Taxes: +€23,406
- Debts after one year -€12,016
down €12,016 (-12.5%), from €96,463 to €84,446
- Trade debts +€5,245
up €5,245 (+19.1%), from €27,438 to €32,683
- Gross operating margin +€27,816
up €27,816 (+31.5%), from €88,368 to €116,184
- Taxes +€4,792
up €4,792 (+38.6%), from €12,398 to €17,190
- Depreciation +€3,336
up €3,336 (+181%), from €1,844 to €5,180
- Financial charges +€2,157
up €2,157 (+72.2%), from €2,987 to €5,144
- Staff costs -€1,929
down €1,929 (-5.0%), from €38,514 to €36,585
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €254,905 | €273,826 | +€18,921 | +7.4% |
| Fixed assets | 21/28 | €2,710 | €38,323 | +€35,613 | +1,314% |
| Tangible fixed assets | 22/27 | €2,710 | €38,323 | +€35,613 | +1,314% |
| Land and buildings | 22 | €2,360 | €35,787 | +€33,428 | +1,417% |
| Plant, machinery and equipment | 23 | €350 | - | -€350 | |
| Furniture and vehicles | 24 | - | €2,536 | +€2,536 | |
| Current assets | 29/58 | €252,195 | €235,503 | -€16,692 | -6.6% |
| Amounts receivable within one year | 40/41 | €170,622 | €222,899 | +€52,276 | +30.6% |
| Trade receivables | 40 | €112,230 | €137,688 | +€25,458 | +22.7% |
| Other amounts receivable | 41 | €58,393 | €85,211 | +€26,818 | +45.9% |
| Cash at bank and in hand | 54/58 | €81,573 | €12,604 | -€68,968 | -84.5% |
| Total equity and liabilities | 10/49 | €254,905 | €273,826 | +€18,921 | +7.4% |
| Equity | 10/15 | €76,896 | €76,896 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,436 | €56,436 | = | 0.0% |
| Amounts payable | 17/49 | €178,009 | €196,930 | +€18,921 | +10.6% |
| Amounts payable after more than one year | 17 | €96,463 | €84,446 | -€12,016 | -12.5% |
| Financial debts | 170/4 | €96,463 | €84,446 | -€12,016 | -12.5% |
| Amounts payable within one year | 42/48 | €81,546 | €112,484 | +€30,938 | +37.9% |
| Current portion of amounts payable after more than one year | 42 | €18,677 | €18,357 | -€319 | -1.7% |
| Trade debts | 44 | €27,438 | €32,683 | +€5,245 | +19.1% |
| Suppliers | 440/4 | €27,438 | €32,683 | +€5,245 | +19.1% |
| Taxes, remuneration and social security | 45 | €35,432 | €61,444 | +€26,012 | +73.4% |
| Taxes | 450/3 | €29,177 | €52,583 | +€23,406 | +80.2% |
| Remuneration and social security | 454/9 | €6,255 | €8,861 | +€2,605 | +41.7% |
| Remuneration, social security and pensions | 62 | €38,514 | €36,585 | -€1,929 | -5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,844 | €5,180 | +€3,336 | +181% |
| Other operating charges | 640/8 | €1,635 | €3,250 | +€1,616 | +98.9% |
| Gross operating margin | 9900 | €88,368 | €116,184 | +€27,816 | +31.5% |
| Operating profit (loss) | 9901 | €46,376 | €71,170 | +€24,794 | +53.5% |
| Financial income | 75/76B | €1 | €77 | +€77 | +11,425% |
| Recurring financial income | 75 | €1 | €77 | +€77 | +11,425% |
| Financial charges | 65/66B | €2,987 | €5,144 | +€2,157 | +72.2% |
| Recurring financial charges | 65 | €2,987 | €5,144 | +€2,157 | +72.2% |
| Profit (loss) for the period before taxes | 9903 | €43,390 | €66,103 | +€22,713 | +52.3% |
| Income taxes | 67/77 | €12,398 | €17,190 | +€4,792 | +38.6% |
| Profit (loss) for the period | 9904 | €30,992 | €48,913 | +€17,921 | +57.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,992 | €48,913 | +€17,921 | +57.8% |
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 16 October 2026 via checked.be.