HB-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.
HB-IMMO
Largest movements
- Tangible fixed assets -€48,782
down €48,782 (-2.2%), from €2.2m to €2.1m
of which Land and buildings: -€130,832
- Debts after one year -€99,743
down €99,743 (-5.4%), from €1.9m to €1.8m
of which Financial debts: -€150,000
- Reserves +€64,084
up €64,084 (+51.6%), from €124,238 to €188,322
- Gross operating margin +€8,043
up €8,043 (+3.2%), from €251,279 to €259,321
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 | €2,180,819 | €2,132,257 | -€48,562 | -2.2% |
| Fixed assets | 21/28 | €2,176,314 | €2,127,532 | -€48,782 | -2.2% |
| Tangible fixed assets | 22/27 | €2,176,314 | €2,127,532 | -€48,782 | -2.2% |
| Land and buildings | 22 | €2,176,314 | €2,045,482 | -€130,832 | -6.0% |
| Furniture and vehicles | 24 | - | €82,051 | +€82,051 | |
| Current assets | 29/58 | €4,505 | €4,725 | +€220 | +4.9% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €4,505 | €4,725 | +€220 | +4.9% |
| Total equity and liabilities | 10/49 | €2,180,819 | €2,132,257 | -€48,562 | -2.2% |
| Equity | 10/15 | €144,238 | €208,322 | +€64,084 | +44.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €124,238 | €188,322 | +€64,084 | +51.6% |
| Distributable reserves | 133 | €124,238 | €188,322 | +€64,084 | +51.6% |
| Amounts payable | 17/49 | €2,036,581 | €1,923,935 | -€112,646 | -5.5% |
| Amounts payable after more than one year | 17 | €1,857,639 | €1,757,896 | -€99,743 | -5.4% |
| Financial debts | 170/4 | €1,600,000 | €1,450,000 | -€150,000 | -9.4% |
| Other amounts payable | 178/9 | €257,639 | €307,896 | +€50,257 | +19.5% |
| Amounts payable within one year | 42/48 | €158,218 | €156,372 | -€1,846 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €4,869 | €209 | -€4,660 | -95.7% |
| Suppliers | 440/4 | €4,869 | €209 | -€4,660 | -95.7% |
| Taxes, remuneration and social security | 45 | €3,349 | €6,163 | +€2,814 | +84.0% |
| Taxes | 450/3 | €3,349 | €6,163 | +€2,814 | +84.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €20,724 | €9,667 | -€11,058 | -53.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,832 | €132,204 | +€1,371 | +1.0% |
| Other operating charges | 640/8 | €17,510 | €18,090 | +€580 | +3.3% |
| Gross operating margin | 9900 | €251,279 | €259,321 | +€8,043 | +3.2% |
| Operating profit (loss) | 9901 | €102,937 | €109,028 | +€6,091 | +5.9% |
| Financial charges | 65/66B | €29,293 | €28,130 | -€1,164 | -4.0% |
| Recurring financial charges | 65 | €29,293 | €28,130 | -€1,164 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €73,643 | €80,898 | +€7,255 | +9.9% |
| Income taxes | 67/77 | €15,349 | €16,814 | +€1,465 | +9.5% |
| Profit (loss) for the period | 9904 | €58,294 | €64,084 | +€5,790 | +9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,294 | €64,084 | +€5,790 | +9.9% |
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 18 October 2026 via checked.be.