ELL'IMMO: what changed
Two fiscal 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.
ELL'IMMO
Largest movements
- Cash -€42,465
down €42,465 (-68.0%), from €62,408 to €19,943
mainly Trade debts (-€64,286) and Net result for the year (-€39,175)
- Tangible fixed assets -€41,034
down €41,034 (-8.0%), from €512,050 to €471,016
of which Land and buildings: -€50,687
- Trade debts -€64,286
down €64,286 (-62.5%), from €102,891 to €38,605
- Profit (loss) carried forward -€39,175
down €39,175 (-17.2%), from -€227,314 to -€266,489
- Debts after one year +€33,122
up €33,122 (+33.3%), from €99,405 to €132,527
- Short-term financial debts -€31,885
down €31,885 (-97.1%), from €32,841 to €956
- Current portion of long-term debt +€17,344
new in 2025: €17,344
- Gross operating margin +€4,660
up €4,660 (+20.6%), from €22,598 to €27,257
- Other operating charges +€4,088
up €4,088 (+125.6%), from €3,254 to €7,342
- Financial charges +€1,461
up €1,461 (+32.7%), from €4,466 to €5,927
- Depreciation -€1,280
down €1,280 (-2.3%), from €55,814 to €54,534
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 | €602,953 | €516,267 | -€86,686 | -14.4% |
| Fixed assets | 21/28 | €512,930 | €471,896 | -€41,034 | -8.0% |
| Tangible fixed assets | 22/27 | €512,050 | €471,016 | -€41,034 | -8.0% |
| Land and buildings | 22 | €399,402 | €348,716 | -€50,687 | -12.7% |
| Furniture and vehicles | 24 | €4,933 | €1,086 | -€3,847 | -78.0% |
| Assets under construction and advance payments | 27 | €107,715 | €121,215 | +€13,500 | +12.5% |
| Financial fixed assets | 28 | €880 | €880 | = | 0.0% |
| Current assets | 29/58 | €90,023 | €44,371 | -€45,652 | -50.7% |
| Amounts receivable within one year | 40/41 | €27,007 | €24,428 | -€2,579 | -9.5% |
| Trade receivables | 40 | €7,687 | €19,959 | +€12,272 | +159.7% |
| Other amounts receivable | 41 | €19,320 | €4,469 | -€14,851 | -76.9% |
| Cash at bank and in hand | 54/58 | €62,408 | €19,943 | -€42,465 | -68.0% |
| Deferred charges and accrued income | 490/1 | €608 | - | -€608 | |
| Total equity and liabilities | 10/49 | €602,953 | €516,267 | -€86,686 | -14.4% |
| Equity | 10/15 | €358,756 | €318,216 | -€40,540 | -11.3% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Revaluation surpluses | 12 | €545,421 | €545,421 | = | 0.0% |
| Reserves | 13 | €1,923 | €1,923 | = | 0.0% |
| Distributable reserves | 133 | €1,923 | €1,923 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€227,314 | -€266,489 | -€39,175 | -17.2% |
| Investment grants | 15 | €1,525 | €160 | -€1,365 | -89.5% |
| Amounts payable | 17/49 | €244,197 | €198,051 | -€46,146 | -18.9% |
| Amounts payable after more than one year | 17 | €99,405 | €132,527 | +€33,122 | +33.3% |
| Financial debts | 170/4 | €99,405 | €132,527 | +€33,122 | +33.3% |
| Amounts payable within one year | 42/48 | €144,792 | €65,524 | -€79,267 | -54.7% |
| Current portion of amounts payable after more than one year | 42 | - | €17,344 | +€17,344 | |
| Financial debts | 43 | €32,841 | €956 | -€31,885 | -97.1% |
| Credit institutions | 430/8 | €32,841 | €956 | -€31,885 | -97.1% |
| Trade debts | 44 | €102,891 | €38,605 | -€64,286 | -62.5% |
| Suppliers | 440/4 | €102,891 | €38,605 | -€64,286 | -62.5% |
| Taxes, remuneration and social security | 45 | €2,166 | €1,718 | -€448 | -20.7% |
| Taxes | 450/3 | €2,166 | €1,718 | -€448 | -20.7% |
| Other amounts payable | 47/48 | €6,894 | €6,901 | +€7 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,814 | €54,534 | -€1,280 | -2.3% |
| Other operating charges | 640/8 | €3,254 | €7,342 | +€4,088 | +125.6% |
| Gross operating margin | 9900 | €22,598 | €27,257 | +€4,660 | +20.6% |
| Operating profit (loss) | 9901 | -€36,471 | -€34,618 | +€1,852 | +5.1% |
| Financial income | 75/76B | €1,369 | €1,370 | +€2 | +0.1% |
| Recurring financial income | 75 | €1,369 | €1,370 | +€2 | +0.1% |
| Financial charges | 65/66B | €4,466 | €5,927 | +€1,461 | +32.7% |
| Recurring financial charges | 65 | €4,466 | €5,927 | +€1,461 | +32.7% |
| Profit (loss) for the period before taxes | 9903 | -€39,568 | -€39,175 | +€393 | +1.0% |
| Income taxes | 67/77 | €0 | - | -€0 | |
| Profit (loss) for the period | 9904 | -€39,568 | -€39,175 | +€393 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,568 | -€39,175 | +€393 | +1.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.