IMDELAER: 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.
What changed
IMDELAER
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€64,200
2024 · €61,958+€2,243
Equity
€166,051
2024 · €165,350+€700
Cash
€41,900
2024 · €31,664+€10,235
Balance sheet total
€1.1m
2024 · €1.2m-€52,050
Largest movements
Assets
- Tangible fixed assets -€46,903
down €46,903 (-5.6%), from €843,965 to €797,062
of which Land and buildings: -€44,778
- Receivables within one year -€12,468
down €12,468 (-4.2%), from €293,627 to €281,159
of which Other amounts receivable: -€23,857
Equity and liabilities
- Debts after one year -€84,044
down €84,044 (-21.0%), from €400,956 to €316,913
- Trade debts +€24,388
up €24,388 (+61.2%), from €39,825 to €64,213
Income statement
- Financial charges -€3,058
down €3,058 (-10.0%), from €30,536 to €27,477
- Gross operating margin -€1,872
down €1,872 (-1.3%), from €143,698 to €141,826
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.
Result 2024
€61,958
Gross operating margin
-€1,872
Depreciation
+€672
Other operating charges
-€160
Financial income
+€476
Financial charges
+€3,058
Taxes
+€68
Result 2025
€64,200
raises the resultlowers the result
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.
From operations
+€159,796
Investment
-€6,095
Financing
-€143,466
Cash 2024
€31,664
From operations (derived)
+€159,796
Net result for the year
+€64,200
Depreciation
+€52,998
Receivables within one year
+€12,468
Deferred charges and accrued income
+€2,915
Trade debts
+€24,388
Advances received
+€11,389
Other debts
-€9,013
Accrued charges and deferred income
+€452
Investment (derived)
-€6,095
Investment in fixed assets (net)
-€6,095
Financing
-€143,466
Debts after one year
-€84,044
Current portion of long-term debt
+€4,078
Contributions, distributions and other
-€63,500
Cash 2025
€41,900
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,179,091 | €1,127,040 | -€52,050 | -4.4% |
| Fixed assets | 21/28 | €843,965 | €797,062 | -€46,903 | -5.6% |
| Tangible fixed assets | 22/27 | €843,965 | €797,062 | -€46,903 | -5.6% |
| Land and buildings | 22 | €834,358 | €789,580 | -€44,778 | -5.4% |
| Plant, machinery and equipment | 23 | €9,606 | €7,481 | -€2,125 | -22.1% |
| Current assets | 29/58 | €335,126 | €329,979 | -€5,147 | -1.5% |
| Amounts receivable within one year | 40/41 | €293,627 | €281,159 | -€12,468 | -4.2% |
| Trade receivables | 40 | €0 | €11,389 | +€11,389 | |
| Other amounts receivable | 41 | €293,627 | €269,770 | -€23,857 | -8.1% |
| Cash at bank and in hand | 54/58 | €31,664 | €41,900 | +€10,235 | +32.3% |
| Deferred charges and accrued income | 490/1 | €9,835 | €6,920 | -€2,915 | -29.6% |
| Total equity and liabilities | 10/49 | €1,179,091 | €1,127,040 | -€52,050 | -4.4% |
| Equity | 10/15 | €165,350 | €166,051 | +€700 | +0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €146,750 | €147,451 | +€700 | +0.5% |
| Distributable reserves | 133 | €146,750 | €147,451 | +€700 | +0.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,013,741 | €960,990 | -€52,751 | -5.2% |
| Amounts payable after more than one year | 17 | €400,956 | €316,913 | -€84,044 | -21.0% |
| Financial debts | 170/4 | €400,956 | €316,913 | -€84,044 | -21.0% |
| Amounts payable within one year | 42/48 | €599,976 | €630,817 | +€30,841 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €81,855 | €85,933 | +€4,078 | +5.0% |
| Trade debts | 44 | €39,825 | €64,213 | +€24,388 | +61.2% |
| Suppliers | 440/4 | €39,825 | €64,213 | +€24,388 | +61.2% |
| Advances received on contracts in progress | 46 | - | €11,389 | +€11,389 | |
| Taxes, remuneration and social security | 45 | €825 | €825 | = | 0.0% |
| Taxes | 450/3 | €825 | €825 | = | 0.0% |
| Other amounts payable | 47/48 | €477,471 | €468,457 | -€9,013 | -1.9% |
| Accrued charges and deferred income | 492/3 | €12,809 | €13,260 | +€452 | +3.5% |
| Non-recurring operating income | 76A | €607 | €0 | -€607 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,670 | €52,998 | -€672 | -1.3% |
| Other operating charges | 640/8 | €5,030 | €5,190 | +€160 | +3.2% |
| Gross operating margin | 9900 | €143,698 | €141,826 | -€1,872 | -1.3% |
| Operating profit (loss) | 9901 | €84,998 | €83,638 | -€1,360 | -1.6% |
| Financial income | 75/76B | €7,635 | €8,110 | +€476 | +6.2% |
| Recurring financial income | 75 | €7,635 | €8,110 | +€476 | +6.2% |
| Financial charges | 65/66B | €30,536 | €27,477 | -€3,058 | -10.0% |
| Recurring financial charges | 65 | €30,536 | €27,477 | -€3,058 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €62,097 | €64,271 | +€2,174 | +3.5% |
| Income taxes | 67/77 | €139 | €71 | -€68 | -49.0% |
| Profit (loss) for the period | 9904 | €61,958 | €64,200 | +€2,243 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €61,958 | €64,200 | +€2,243 | +3.6% |
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 18 October 2026 via checked.be.