IMMO 109: 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.
IMMO 109
Largest movements
- Tangible fixed assets -€34,093
down €34,093 (-4.8%), from €711,924 to €677,831
- Cash -€21,740
down €21,740 (-16.8%), from €129,660 to €107,919
mainly Debts after one year (-€47,252) and Tax, wage and social debts (-€11,501)
- Debts after one year -€47,252
down €47,252 (-12.2%), from €387,919 to €340,667
of which Financial debts: -€50,352
- Profit (loss) carried forward +€22,673
up €22,673 (+23.4%), from €96,725 to €119,398
- Reserves -€13,608
down €13,608 (-7.3%), from €186,206 to €172,599
of which Tax-exempt reserves: -€13,608
- Tax, wage and social debts -€11,501
down €11,501 (-61.8%), from €18,623 to €7,122
- Gross operating margin +€2,920
up €2,920 (+4.4%), from €66,393 to €69,313
- Depreciation +€2,094
up €2,094 (+5.2%), from €39,983 to €42,078
- Financial charges -€1,888
down €1,888 (-14.4%), from €13,115 to €11,227
- Other operating charges -€824
down €824 (-15.9%), from €5,194 to €4,370
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 | €843,703 | €789,686 | -€54,017 | -6.4% |
| Fixed assets | 21/28 | €711,924 | €677,831 | -€34,093 | -4.8% |
| Tangible fixed assets | 22/27 | €711,924 | €677,831 | -€34,093 | -4.8% |
| Land and buildings | 22 | €711,924 | €677,831 | -€34,093 | -4.8% |
| Current assets | 29/58 | €131,779 | €111,854 | -€19,924 | -15.1% |
| Amounts receivable within one year | 40/41 | €447 | €892 | +€446 | +99.8% |
| Other amounts receivable | 41 | €447 | €892 | +€446 | +99.8% |
| Cash at bank and in hand | 54/58 | €129,660 | €107,919 | -€21,740 | -16.8% |
| Deferred charges and accrued income | 490/1 | €1,673 | €3,043 | +€1,370 | +81.9% |
| Total equity and liabilities | 10/49 | €843,703 | €789,686 | -€54,017 | -6.4% |
| Equity | 10/15 | €293,252 | €302,317 | +€9,065 | +3.1% |
| Contributions | 10/11 | €10,320 | €10,320 | = | 0.0% |
| Reserves | 13 | €186,206 | €172,599 | -€13,608 | -7.3% |
| Non-distributable reserves | 130/1 | €548 | €548 | = | 0.0% |
| Reserves not available under the articles | 1311 | €548 | €548 | = | 0.0% |
| Tax-exempt reserves | 132 | €185,659 | €172,051 | -€13,608 | -7.3% |
| Profit (loss) carried forward | 14 | €96,725 | €119,398 | +€22,673 | +23.4% |
| Provisions and deferred taxes | 16 | €61,886 | €57,350 | -€4,536 | -7.3% |
| Deferred taxes | 168 | €61,886 | €57,350 | -€4,536 | -7.3% |
| Amounts payable | 17/49 | €488,565 | €430,019 | -€58,546 | -12.0% |
| Amounts payable after more than one year | 17 | €387,919 | €340,667 | -€47,252 | -12.2% |
| Financial debts | 170/4 | €384,719 | €334,367 | -€50,352 | -13.1% |
| Other amounts payable | 178/9 | €3,200 | €6,300 | +€3,100 | +96.9% |
| Amounts payable within one year | 42/48 | €100,645 | €89,352 | -€11,294 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €56,254 | €51,547 | -€4,707 | -8.4% |
| Trade debts | 44 | €97 | €3,110 | +€3,013 | +3090.1% |
| Suppliers | 440/4 | €97 | €3,110 | +€3,013 | +3090.1% |
| Taxes, remuneration and social security | 45 | €18,623 | €7,122 | -€11,501 | -61.8% |
| Taxes | 450/3 | €18,623 | €7,122 | -€11,501 | -61.8% |
| Other amounts payable | 47/48 | €25,670 | €27,572 | +€1,902 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,983 | €42,078 | +€2,094 | +5.2% |
| Other operating charges | 640/8 | €5,194 | €4,370 | -€824 | -15.9% |
| Gross operating margin | 9900 | €66,393 | €69,313 | +€2,920 | +4.4% |
| Operating profit (loss) | 9901 | €21,216 | €22,866 | +€1,650 | +7.8% |
| Financial income | 75/76B | €540 | €635 | +€95 | +17.6% |
| Recurring financial income | 75 | €540 | €635 | +€95 | +17.6% |
| Financial charges | 65/66B | €13,115 | €11,227 | -€1,888 | -14.4% |
| Recurring financial charges | 65 | €13,115 | €11,227 | -€1,888 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €8,640 | €12,274 | +€3,633 | +42.1% |
| Transfer from deferred taxes | 780 | €4,536 | €4,536 | = | 0.0% |
| Income taxes | 67/77 | €7,285 | €7,745 | +€460 | +6.3% |
| Profit (loss) for the period | 9904 | €5,891 | €9,065 | +€3,174 | +53.9% |
| Transfer from tax-exempt reserves | 789 | €13,608 | €13,608 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,499 | €22,673 | +€3,174 | +16.3% |
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 9 October 2026 via checked.be.