E.R.-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
E.R.-IMMO
NACE 68.121, Development of residential building projects
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€11,826
2024 · €25,245-€37,071
Equity
€427,817
2024 · €442,588-€14,771
Cash
€16,099
2024 · €24+€16,075
Balance sheet total
€2.2m
2024 · €2.2m-€5,507
Largest movements
Assets
- Tangible fixed assets -€67,182
down €67,182 (-6.3%), from €1.1m to €991,753
of which Land and buildings: -€65,342
- Receivables within one year +€44,948
up €44,948 (+10.8%), from €416,683 to €461,630
of which Other amounts receivable: +€45,407
Equity and liabilities
- Current portion of long-term debt +€38,128
up €38,128 (+166.9%), from €22,846 to €60,974
- Other debts -€33,924
down €33,924 (-4.3%), from €786,666 to €752,742
Income statement
- Depreciation +€22,428
up €22,428 (+50.1%), from €44,753 to €67,182
- Financial charges +€19,226
up €19,226 (+192.9%), from €9,966 to €29,192
- Other operating charges +€3,323
up €3,323 (+21.2%), from €15,642 to €18,965
- Financial income +€1,365
up €1,365 (+11.8%), from €11,533 to €12,898
- Gross operating margin +€1,315
up €1,315 (+1.6%), from €84,304 to €85,620
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
€25,245
Gross operating margin
+€1,315
Depreciation
-€22,428
Other operating charges
-€3,323
Financial income
+€1,365
Financial charges
-€19,226
Taxes
+€174
Deferred taxes and other
+€5,052
Result 2025
-€11,826
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
-€27,169
Investment
€0
Financing
+€43,244
Cash 2024
€24
From operations (derived)
-€27,169
Net result for the year
-€11,826
Depreciation
+€67,182
Receivables within one year
-€44,948
Deferred charges and accrued income
-€652
Provisions
-€5,080
Trade debts
-€2,867
Tax, wage and social debts
+€142
Other debts
-€33,924
Accrued charges and deferred income
+€4,804
Financing
+€43,244
Debts after one year
+€8,061
Current portion of long-term debt
+€38,128
Contributions, distributions and other
-€2,945
Cash 2025
€16,099
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,219,112 | €2,213,605 | -€5,507 | -0.2% |
| Fixed assets | 21/28 | €1,073,935 | €1,006,753 | -€67,182 | -6.3% |
| Tangible fixed assets | 22/27 | €1,058,935 | €991,753 | -€67,182 | -6.3% |
| Land and buildings | 22 | €1,040,732 | €975,390 | -€65,342 | -6.3% |
| Plant, machinery and equipment | 23 | €15,724 | €14,722 | -€1,002 | -6.4% |
| Furniture and vehicles | 24 | €2,478 | €1,641 | -€837 | -33.8% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €1,145,178 | €1,206,852 | +€61,675 | +5.4% |
| Stocks and contracts in progress | 3 | €727,064 | €727,064 | = | 0.0% |
| Stocks | 30/36 | €727,064 | €727,064 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €416,683 | €461,630 | +€44,948 | +10.8% |
| Trade receivables | 40 | €2,715 | €2,255 | -€460 | -16.9% |
| Other amounts receivable | 41 | €413,968 | €459,375 | +€45,407 | +11.0% |
| Cash at bank and in hand | 54/58 | €24 | €16,099 | +€16,075 | +66590.5% |
| Deferred charges and accrued income | 490/1 | €1,407 | €2,059 | +€652 | +46.4% |
| Total equity and liabilities | 10/49 | €2,219,112 | €2,213,605 | -€5,507 | -0.2% |
| Equity | 10/15 | €442,588 | €427,817 | -€14,771 | -3.3% |
| 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 | €310,917 | €295,677 | -€15,240 | -4.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €304,717 | €289,477 | -€15,240 | -5.0% |
| Profit (loss) carried forward | 14 | €69,671 | €70,140 | +€469 | +0.7% |
| Provisions and deferred taxes | 16 | €101,572 | €96,492 | -€5,080 | -5.0% |
| Deferred taxes | 168 | €101,572 | €96,492 | -€5,080 | -5.0% |
| Amounts payable | 17/49 | €1,674,952 | €1,689,296 | +€14,344 | +0.9% |
| Amounts payable after more than one year | 17 | €730,028 | €738,089 | +€8,061 | +1.1% |
| Financial debts | 170/4 | €575,057 | €583,119 | +€8,061 | +1.4% |
| Other amounts payable | 178/9 | €154,971 | €154,971 | = | 0.0% |
| Amounts payable within one year | 42/48 | €944,600 | €946,079 | +€1,479 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €22,846 | €60,974 | +€38,128 | +166.9% |
| Financial debts | 43 | €130,000 | €130,000 | = | 0.0% |
| Credit institutions | 430/8 | €130,000 | €130,000 | = | 0.0% |
| Trade debts | 44 | €3,649 | €782 | -€2,867 | -78.6% |
| Suppliers | 440/4 | €3,649 | €782 | -€2,867 | -78.6% |
| Taxes, remuneration and social security | 45 | €1,440 | €1,582 | +€142 | +9.8% |
| Taxes | 450/3 | €1,440 | €1,582 | +€142 | +9.8% |
| Other amounts payable | 47/48 | €786,666 | €752,742 | -€33,924 | -4.3% |
| Accrued charges and deferred income | 492/3 | €324 | €5,128 | +€4,804 | +1484.8% |
| Non-recurring operating income | 76A | €32,231 | - | -€32,231 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,753 | €67,182 | +€22,428 | +50.1% |
| Other operating charges | 640/8 | €15,642 | €18,965 | +€3,323 | +21.2% |
| Gross operating margin | 9900 | €84,304 | €85,620 | +€1,315 | +1.6% |
| Operating profit (loss) | 9901 | €23,910 | -€527 | -€24,436 | |
| Financial income | 75/76B | €11,533 | €12,898 | +€1,365 | +11.8% |
| Recurring financial income | 75 | €11,533 | €12,898 | +€1,365 | +11.8% |
| Financial charges | 65/66B | €9,966 | €29,192 | +€19,226 | +192.9% |
| Recurring financial charges | 65 | €9,966 | €29,192 | +€19,226 | +192.9% |
| Profit (loss) for the period before taxes | 9903 | €25,476 | -€16,821 | -€42,297 | |
| Transfer from deferred taxes | 780 | €28 | €5,080 | +€5,052 | +18199.7% |
| Income taxes | 67/77 | €259 | €85 | -€174 | -67.1% |
| Profit (loss) for the period | 9904 | €25,245 | -€11,826 | -€37,071 | |
| Transfer from tax-exempt reserves | 789 | €83 | €15,240 | +€15,157 | +18199.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,328 | €3,414 | -€21,914 | -86.5% |
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.