ER-IMMO & MANAGEMENT: 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.
ER-IMMO & MANAGEMENT
Largest movements
- Receivables within one year +€74,153
up €74,153 (+43.8%), from €169,192 to €243,345
of which Other amounts receivable: +€70,855
- Debts after one year -€122,970
down €122,970 (-8.5%), from €1.4m to €1.3m
- Reserves +€114,979
up €114,979 (+33.9%), from €339,041 to €454,020
- Advances received +€34,500
up €34,500 (+160.5%), from €21,500 to €56,000
- Current portion of long-term debt +€24,999
up €24,999 (+33.8%), from €73,857 to €98,856
- Gross operating margin +€89,680
up €89,680 (+41.5%), from €215,895 to €305,575
- Depreciation -€58,370
down €58,370 (-47.7%), from €122,474 to €64,104
- Taxes +€28,824
up €28,824 (+309.0%), from €9,329 to €38,154
- Financial charges +€28,367
up €28,367 (+62.2%), from €45,610 to €73,977
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 | €2,167,496 | €2,241,993 | +€74,497 | +3.4% |
| Fixed assets | 21/28 | €1,979,131 | €1,982,735 | +€3,604 | +0.2% |
| Tangible fixed assets | 22/27 | €1,979,131 | €1,982,735 | +€3,604 | +0.2% |
| Land and buildings | 22 | €1,978,998 | €1,870,962 | -€108,036 | -5.5% |
| Plant, machinery and equipment | 23 | €133 | - | -€133 | |
| Furniture and vehicles | 24 | - | €111,773 | +€111,773 | |
| Current assets | 29/58 | €188,365 | €259,258 | +€70,893 | +37.6% |
| Amounts receivable within one year | 40/41 | €169,192 | €243,345 | +€74,153 | +43.8% |
| Trade receivables | 40 | €523 | €3,820 | +€3,298 | +631.1% |
| Other amounts receivable | 41 | €168,670 | €239,525 | +€70,855 | +42.0% |
| Cash at bank and in hand | 54/58 | €10,840 | €9,019 | -€1,821 | -16.8% |
| Deferred charges and accrued income | 490/1 | €8,333 | €6,894 | -€1,439 | -17.3% |
| Total equity and liabilities | 10/49 | €2,167,496 | €2,241,993 | +€74,497 | +3.4% |
| Equity | 10/15 | €341,541 | €456,520 | +€114,979 | +33.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €339,041 | €454,020 | +€114,979 | +33.9% |
| Distributable reserves | 133 | €339,041 | €454,020 | +€114,979 | +33.9% |
| Amounts payable | 17/49 | €1,825,955 | €1,785,474 | -€40,482 | -2.2% |
| Amounts payable after more than one year | 17 | €1,448,073 | €1,325,103 | -€122,970 | -8.5% |
| Financial debts | 170/4 | €1,448,073 | €1,325,103 | -€122,970 | -8.5% |
| Amounts payable within one year | 42/48 | €377,882 | €453,659 | +€75,776 | +20.1% |
| Current portion of amounts payable after more than one year | 42 | €73,857 | €98,856 | +€24,999 | +33.8% |
| Financial debts | 43 | €269,254 | €250,000 | -€19,254 | -7.2% |
| Credit institutions | 430/8 | €250,000 | €250,000 | = | 0.0% |
| Other loans | 439 | €19,254 | - | -€19,254 | |
| Trade debts | 44 | €3,331 | €17,865 | +€14,533 | +436.3% |
| Suppliers | 440/4 | €3,331 | €17,865 | +€14,533 | +436.3% |
| Advances received on contracts in progress | 46 | €21,500 | €56,000 | +€34,500 | +160.5% |
| Taxes, remuneration and social security | 45 | €4,300 | €19,438 | +€15,138 | +352.0% |
| Taxes | 450/3 | €4,300 | €19,438 | +€15,138 | +352.0% |
| Other amounts payable | 47/48 | €5,639 | €11,500 | +€5,861 | +103.9% |
| Accrued charges and deferred income | 492/3 | - | €6,712 | +€6,712 | |
| Non-recurring operating income | 76A | - | €80,547 | +€80,547 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,474 | €64,104 | -€58,370 | -47.7% |
| Other operating charges | 640/8 | €15,043 | €15,606 | +€563 | +3.7% |
| Gross operating margin | 9900 | €215,895 | €305,575 | +€89,680 | +41.5% |
| Operating profit (loss) | 9901 | €78,378 | €225,865 | +€147,487 | +188.2% |
| Financial income | 75/76B | €761 | €1,245 | +€484 | +63.6% |
| Recurring financial income | 75 | €761 | €1,245 | +€484 | +63.6% |
| Financial charges | 65/66B | €45,610 | €73,977 | +€28,367 | +62.2% |
| Recurring financial charges | 65 | €45,610 | €73,977 | +€28,367 | +62.2% |
| Profit (loss) for the period before taxes | 9903 | €33,529 | €153,132 | +€119,604 | +356.7% |
| Income taxes | 67/77 | €9,329 | €38,154 | +€28,824 | +309.0% |
| Profit (loss) for the period | 9904 | €24,199 | €114,979 | +€90,780 | +375.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,199 | €114,979 | +€90,780 | +375.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.