ENSEMBLE IMMOBILIER: 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.
ENSEMBLE IMMOBILIER
Largest movements
- Financial fixed assets +€3.8m
up €3.8m (+26.1%), from €14.6m to €18.4m
- Receivables within one year +€1.6m
up €1.6m (+129%), from €1.2m to €2.8m
of which Other amounts receivable: +€1.6m
- Cash -€256,276
down €256,276 (-94.8%), from €270,406 to €14,130
mainly Investment in fixed assets (net) (-€3.8m) and Other debts (-€3.1m)
- Debts after one year +€8.3m
up €8.3m (+114%), from €7.2m to €15.5m
- Other debts -€3.1m
no longer reported in 2025 (was €3.1m)
- Financial income -€282,609
down €282,609 (-66.1%), from €427,863 to €145,254
of which Non-recurring financial income: -€331,904
- Financial charges -€49,043
down €49,043 (-14.5%), from €338,186 to €289,143
- Turnover +€29,569
up €29,569 (+22.0%), from €134,683 to €164,252
- Services and other goods +€4,137
up €4,137 (+11.7%), from €35,291 to €39,428
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 | €19,785,415 | €24,910,031 | +€5.1m | +25.9% |
| Fixed assets | 21/28 | €14,725,507 | €18,536,020 | +€3.8m | +25.9% |
| Tangible fixed assets | 22/27 | €122,213 | €117,129 | -€5,084 | -4.2% |
| Land and buildings | 22 | €122,213 | €117,129 | -€5,084 | -4.2% |
| Financial fixed assets | 28 | €14,603,294 | €18,418,891 | +€3.8m | +26.1% |
| Affiliated companies | 280/1 | €14,603,294 | €18,418,891 | +€3.8m | +26.1% |
| Participating interests | 280 | €13,159,548 | €13,159,548 | = | 0.0% |
| Amounts receivable | 281 | €1,443,746 | €5,259,343 | +€3.8m | +264% |
| Current assets | 29/58 | €5,059,908 | €6,374,011 | +€1.3m | +26.0% |
| Stocks and contracts in progress | 3 | €3,568,975 | €3,568,975 | = | 0.0% |
| Stocks | 30/36 | €3,568,975 | €3,568,975 | = | 0.0% |
| Property held for sale | 35 | €3,568,975 | €3,568,975 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,220,527 | €2,790,906 | +€1.6m | +129% |
| Trade receivables | 40 | €23,018 | €24,688 | +€1,669 | +7.3% |
| Other amounts receivable | 41 | €1,197,509 | €2,766,219 | +€1.6m | +131% |
| Cash at bank and in hand | 54/58 | €270,406 | €14,130 | -€256,276 | -94.8% |
| Total equity and liabilities | 10/49 | €19,785,415 | €24,910,031 | +€5.1m | +25.9% |
| Equity | 10/15 | €9,429,658 | €9,396,463 | -€33,195 | -0.4% |
| Contributions | 10/11 | €843,000 | €843,000 | = | 0.0% |
| Capital | 10 | €843,000 | €843,000 | = | 0.0% |
| Issued capital | 100 | €843,000 | €843,000 | = | 0.0% |
| Reserves | 13 | €84,300 | €84,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €84,300 | €84,300 | = | 0.0% |
| Legal reserve | 130 | €84,300 | €84,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,502,358 | €8,469,163 | -€33,195 | -0.4% |
| Amounts payable | 17/49 | €10,355,757 | €15,513,568 | +€5.2m | +49.8% |
| Amounts payable after more than one year | 17 | €7,232,777 | €15,503,737 | +€8.3m | +114% |
| Financial debts | 170/4 | €7,232,777 | €15,503,737 | +€8.3m | +114% |
| Credit institutions | 173 | €2,750,000 | €2,750,000 | = | 0.0% |
| Other loans | 174 | €4,482,777 | €12,753,737 | +€8.3m | +185% |
| Amounts payable within one year | 42/48 | €3,116,656 | €5,107 | -€3.1m | -99.8% |
| Trade debts | 44 | €7,895 | €5,107 | -€2,788 | -35.3% |
| Suppliers | 440/4 | €7,895 | €5,107 | -€2,788 | -35.3% |
| Other amounts payable | 47/48 | €3,108,761 | - | -€3.1m | |
| Accrued charges and deferred income | 492/3 | €6,325 | €4,725 | -€1,600 | -25.3% |
| Operating income | 70/76A | €319,028 | €164,252 | -€154,776 | -48.5% |
| Turnover | 70 | €134,683 | €164,252 | +€29,569 | +22.0% |
| Other operating income | 74 | €69 | - | -€69 | |
| Non-recurring operating income | 76A | €184,276 | - | -€184,276 | |
| Operating charges | 60/66A | €49,954 | €53,558 | +€3,604 | +7.2% |
| Services and other goods | 61 | €35,291 | €39,428 | +€4,137 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,789 | €5,084 | -€705 | -12.2% |
| Other operating charges | 640/8 | €8,875 | €9,046 | +€172 | +1.9% |
| Operating profit (loss) | 9901 | €269,074 | €110,694 | -€158,380 | -58.9% |
| Financial income | 75/76B | €427,863 | €145,254 | -€282,609 | -66.1% |
| Recurring financial income | 75 | €95,958 | €145,254 | +€49,295 | +51.4% |
| Income from financial fixed assets | 750 | €39,746 | €63,467 | +€23,720 | +59.7% |
| Income from current assets | 751 | €56,212 | €81,787 | +€25,575 | +45.5% |
| Non-recurring financial income | 76B | €331,904 | - | -€331,904 | |
| Financial charges | 65/66B | €338,186 | €289,143 | -€49,043 | -14.5% |
| Recurring financial charges | 65 | €338,186 | €289,143 | -€49,043 | -14.5% |
| Debt charges | 650 | €335,277 | €288,000 | -€47,277 | -14.1% |
| Other financial charges | 652/9 | €2,909 | €1,143 | -€1,766 | -60.7% |
| Profit (loss) for the period before taxes | 9903 | €358,750 | -€33,195 | -€391,945 | |
| Income taxes | 67/77 | €4 | - | -€4 | |
| Taxes | 670/3 | €4 | - | -€4 | |
| Profit (loss) for the period | 9904 | €358,747 | -€33,195 | -€391,942 | |
| Profit (loss) for the period to be appropriated | 9905 | €358,747 | -€33,195 | -€391,942 |
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 28 October 2026 via checked.be.