ET 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.
ET IMMO
Largest movements
- Tangible fixed assets -€139,727
down €139,727 (-3.8%), from €3.7m to €3.5m
of which Land and buildings: -€133,608
- Receivables within one year +€108,010
up €108,010 (+143%), from €75,370 to €183,380
of which Trade receivables: +€115,429
- Debts after one year -€227,178
down €227,178 (-9.9%), from €2.3m to €2.1m
of which Financial debts: -€257,178
- Profit (loss) carried forward +€175,527
up €175,527 (+19.3%), from €909,746 to €1.1m
- Other debts -€110,644
down €110,644 (-99.6%), from €111,111 to €467
- Advances received +€72,000
new in 2024: €72,000
- Other operating charges +€12,451
up €12,451 (+221%), from €5,625 to €18,076
- Gross operating margin -€8,545
down €8,545 (-2.0%), from €435,068 to €426,522
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,789,280 | €3,732,081 | -€57,199 | -1.5% |
| Fixed assets | 21/28 | €3,662,206 | €3,522,479 | -€139,727 | -3.8% |
| Tangible fixed assets | 22/27 | €3,662,106 | €3,522,379 | -€139,727 | -3.8% |
| Land and buildings | 22 | €3,610,653 | €3,477,045 | -€133,608 | -3.7% |
| Plant, machinery and equipment | 23 | €51,453 | €45,334 | -€6,119 | -11.9% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €127,074 | €209,602 | +€82,528 | +64.9% |
| Amounts receivable within one year | 40/41 | €75,370 | €183,380 | +€108,010 | +143% |
| Trade receivables | 40 | €62,594 | €178,023 | +€115,429 | +184% |
| Other amounts receivable | 41 | €12,776 | €5,356 | -€7,419 | -58.1% |
| Cash at bank and in hand | 54/58 | €51,705 | €26,222 | -€25,482 | -49.3% |
| Total equity and liabilities | 10/49 | €3,789,280 | €3,732,081 | -€57,199 | -1.5% |
| Equity | 10/15 | €1,009,746 | €1,185,273 | +€175,527 | +17.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €909,746 | €1,085,273 | +€175,527 | +19.3% |
| Amounts payable | 17/49 | €2,779,534 | €2,546,808 | -€232,726 | -8.4% |
| Amounts payable after more than one year | 17 | €2,291,470 | €2,064,292 | -€227,178 | -9.9% |
| Financial debts | 170/4 | €2,291,470 | €2,034,292 | -€257,178 | -11.2% |
| Other amounts payable | 178/9 | - | €30,000 | +€30,000 | |
| Amounts payable within one year | 42/48 | €488,063 | €482,516 | -€5,548 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €253,547 | €257,178 | +€3,631 | +1.4% |
| Financial debts | 43 | - | €4,245 | +€4,245 | |
| Credit institutions | 430/8 | - | €4,245 | +€4,245 | |
| Trade debts | 44 | - | €14,311 | +€14,311 | |
| Suppliers | 440/4 | - | €14,311 | +€14,311 | |
| Advances received on contracts in progress | 46 | - | €72,000 | +€72,000 | |
| Taxes, remuneration and social security | 45 | €123,405 | €134,314 | +€10,909 | +8.8% |
| Taxes | 450/3 | €123,405 | €134,314 | +€10,909 | +8.8% |
| Other amounts payable | 47/48 | €111,111 | €467 | -€110,644 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,040 | €139,727 | +€687 | +0.5% |
| Other operating charges | 640/8 | €5,625 | €18,076 | +€12,451 | +221% |
| Gross operating margin | 9900 | €435,068 | €426,522 | -€8,545 | -2.0% |
| Operating profit (loss) | 9901 | €290,403 | €268,720 | -€21,683 | -7.5% |
| Financial charges | 65/66B | €31,979 | €33,365 | +€1,386 | +4.3% |
| Recurring financial charges | 65 | €31,979 | €33,365 | +€1,386 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €258,424 | €235,355 | -€23,070 | -8.9% |
| Income taxes | 67/77 | €64,142 | €59,828 | -€4,314 | -6.7% |
| Profit (loss) for the period | 9904 | €194,282 | €175,527 | -€18,756 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €194,282 | €175,527 | -€18,756 | -9.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.