ED 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.
ED IMMO
Largest movements
- Tangible fixed assets -€20,997
down €20,997 (-5.7%), from €366,818 to €345,820
of which Land and buildings: -€20,905
- Cash +€13,788
up €13,788 (+8.4%), from €164,514 to €178,302
mainly Depreciation (+€20,997) and Net result for the year (+€19,684)
- Debts after one year -€29,870
down €29,870 (-54.3%), from €54,984 to €25,115
- Profit (loss) carried forward +€24,069
up €24,069 (+93.7%), from -€25,699 to -€1,630
- Gross operating margin +€8,560
up €8,560 (+22.4%), from €38,296 to €46,855
- Depreciation -€7,182
down €7,182 (-25.5%), from €28,179 to €20,997
- Other operating charges +€1,809
up €1,809 (+60.5%), from €2,988 to €4,796
- Financial charges -€525
down €525 (-15.6%), from €3,365 to €2,840
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 | €541,974 | €529,831 | -€12,143 | -2.2% |
| Fixed assets | 21/28 | €366,818 | €345,820 | -€20,997 | -5.7% |
| Tangible fixed assets | 22/27 | €366,818 | €345,820 | -€20,997 | -5.7% |
| Land and buildings | 22 | €366,478 | €345,572 | -€20,905 | -5.7% |
| Plant, machinery and equipment | 23 | €340 | €248 | -€92 | -27.1% |
| Current assets | 29/58 | €175,157 | €184,010 | +€8,854 | +5.1% |
| Amounts receivable within one year | 40/41 | €9,000 | €4,000 | -€5,000 | -55.6% |
| Other amounts receivable | 41 | €9,000 | €4,000 | -€5,000 | -55.6% |
| Cash at bank and in hand | 54/58 | €164,514 | €178,302 | +€13,788 | +8.4% |
| Deferred charges and accrued income | 490/1 | €1,643 | €1,709 | +€66 | +4.0% |
| Total equity and liabilities | 10/49 | €541,974 | €529,831 | -€12,143 | -2.2% |
| Equity | 10/15 | €382,155 | €401,839 | +€19,684 | +5.2% |
| Contributions | 10/11 | €253,593 | €253,593 | = | 0.0% |
| Reserves | 13 | €154,261 | €149,877 | -€4,385 | -2.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €89,902 | €85,518 | -€4,385 | -4.9% |
| Distributable reserves | 133 | €64,359 | €64,359 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,699 | -€1,630 | +€24,069 | +93.7% |
| Provisions and deferred taxes | 16 | €29,967 | €28,506 | -€1,462 | -4.9% |
| Deferred taxes | 168 | €29,967 | €28,506 | -€1,462 | -4.9% |
| Amounts payable | 17/49 | €129,852 | €99,486 | -€30,366 | -23.4% |
| Amounts payable after more than one year | 17 | €54,984 | €25,115 | -€29,870 | -54.3% |
| Financial debts | 170/4 | €54,984 | €25,115 | -€29,870 | -54.3% |
| Amounts payable within one year | 42/48 | €73,342 | €73,166 | -€177 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €29,182 | €29,870 | +€688 | +2.4% |
| Trade debts | 44 | €1,657 | €85 | -€1,572 | -94.9% |
| Suppliers | 440/4 | €1,657 | €85 | -€1,572 | -94.9% |
| Other amounts payable | 47/48 | €42,504 | €43,211 | +€707 | +1.7% |
| Accrued charges and deferred income | 492/3 | €1,525 | €1,206 | -€319 | -20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,179 | €20,997 | -€7,182 | -25.5% |
| Other operating charges | 640/8 | €2,988 | €4,796 | +€1,809 | +60.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €38,296 | €46,855 | +€8,560 | +22.4% |
| Operating profit (loss) | 9901 | €7,129 | €21,062 | +€13,933 | +195% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €3,365 | €2,840 | -€525 | -15.6% |
| Recurring financial charges | 65 | €3,365 | €2,840 | -€525 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €3,764 | €18,222 | +€14,458 | +384% |
| Transfer from deferred taxes | 780 | €1,249 | €1,462 | +€213 | +17.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €5,013 | €19,684 | +€14,671 | +293% |
| Transfer from tax-exempt reserves | 789 | €3,747 | €4,385 | +€638 | +17.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €8,760 | €24,069 | +€15,308 | +175% |
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 15 October 2026 via checked.be.