HA 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.
HA IMMO
Largest movements
- Tangible fixed assets -€34,619
down €34,619 (-5.0%), from €688,536 to €653,917
- Cash +€19,280
up €19,280 (+24.3%), from €79,348 to €98,628
mainly Net result for the year (+€53,370) and Depreciation (+€34,619)
- Debts after one year -€58,263
down €58,263 (-16.5%), from €354,116 to €295,853
- Reserves +€53,370
up €53,370 (+17.5%), from €305,237 to €358,607
- Other debts -€16,602
no longer reported in 2025 (was €16,602)
- Gross operating margin +€4,370
up €4,370 (+3.6%), from €122,167 to €126,537
- Taxes +€2,012
up €2,012 (+8.8%), from €22,894 to €24,906
- Financial charges -€1,956
down €1,956 (-12.5%), from €15,599 to €13,642
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 | €769,084 | €753,522 | -€15,562 | -2.0% |
| Fixed assets | 21/28 | €688,536 | €653,917 | -€34,619 | -5.0% |
| Tangible fixed assets | 22/27 | €688,536 | €653,917 | -€34,619 | -5.0% |
| Land and buildings | 22 | €688,536 | €653,917 | -€34,619 | -5.0% |
| Current assets | 29/58 | €80,548 | €99,605 | +€19,056 | +23.7% |
| Amounts receivable within one year | 40/41 | €250 | - | -€250 | |
| Other amounts receivable | 41 | €250 | - | -€250 | |
| Cash at bank and in hand | 54/58 | €79,348 | €98,628 | +€19,280 | +24.3% |
| Deferred charges and accrued income | 490/1 | €950 | €977 | +€26 | +2.8% |
| Total equity and liabilities | 10/49 | €769,084 | €753,522 | -€15,562 | -2.0% |
| Equity | 10/15 | €335,237 | €388,607 | +€53,370 | +15.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €305,237 | €358,607 | +€53,370 | +17.5% |
| Distributable reserves | 133 | €305,237 | €358,607 | +€53,370 | +17.5% |
| Amounts payable | 17/49 | €433,847 | €364,915 | -€68,932 | -15.9% |
| Amounts payable after more than one year | 17 | €354,116 | €295,853 | -€58,263 | -16.5% |
| Financial debts | 170/4 | €354,116 | €295,853 | -€58,263 | -16.5% |
| Amounts payable within one year | 42/48 | €79,732 | €69,063 | -€10,669 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €56,236 | €58,263 | +€2,027 | +3.6% |
| Taxes, remuneration and social security | 45 | €6,894 | €10,800 | +€3,906 | +56.7% |
| Taxes | 450/3 | €6,894 | €10,800 | +€3,906 | +56.7% |
| Other amounts payable | 47/48 | €16,602 | - | -€16,602 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,619 | €34,619 | = | 0.0% |
| Gross operating margin | 9900 | €122,167 | €126,537 | +€4,370 | +3.6% |
| Operating profit (loss) | 9901 | €87,548 | €91,918 | +€4,370 | +5.0% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €15,599 | €13,642 | -€1,956 | -12.5% |
| Recurring financial charges | 65 | €15,599 | €13,642 | -€1,956 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €71,952 | €78,276 | +€6,324 | +8.8% |
| Income taxes | 67/77 | €22,894 | €24,906 | +€2,012 | +8.8% |
| Profit (loss) for the period | 9904 | €49,058 | €53,370 | +€4,312 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €49,058 | €53,370 | +€4,312 | +8.8% |
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 12 October 2026 via checked.be.