IMMO 167: 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 167
Largest movements
- Financial fixed assets +€500,000
new in 2025: €500,000
- Tangible fixed assets -€396,936
down €396,936 (-4.8%), from €8.2m to €7.8m
of which Land and buildings: -€364,350
- Receivables within one year -€333,080
down €333,080 (-92.8%), from €358,806 to €25,726
of which Other amounts receivable: -€346,014
- Cash -€166,306
down €166,306 (-42.6%), from €389,957 to €223,650
mainly Investment in fixed assets (net) (-€634,596) and Debts after one year (-€433,333)
- Debts after one year -€433,333
down €433,333 (-12.5%), from €3.5m to €3.0m
- Other debts +€146,722
up €146,722 (+44.0%), from €333,248 to €479,970
- Current portion of long-term debt -€108,333
down €108,333 (-20.0%), from €541,667 to €433,333
- Gross operating margin +€59,746
up €59,746 (+4.8%), from €1.3m to €1.3m
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 | €8,951,047 | €8,548,194 | -€402,853 | -4.5% |
| Fixed assets | 21/28 | €8,192,880 | €8,295,944 | +€103,064 | +1.3% |
| Tangible fixed assets | 22/27 | €8,192,880 | €7,795,944 | -€396,936 | -4.8% |
| Land and buildings | 22 | €7,943,175 | €7,578,825 | -€364,350 | -4.6% |
| Plant, machinery and equipment | 23 | €242,507 | €211,674 | -€30,834 | -12.7% |
| Furniture and vehicles | 24 | €7,197 | €5,445 | -€1,752 | -24.3% |
| Financial fixed assets | 28 | - | €500,000 | +€500,000 | |
| Current assets | 29/58 | €758,168 | €252,251 | -€505,917 | -66.7% |
| Amounts receivable within one year | 40/41 | €358,806 | €25,726 | -€333,080 | -92.8% |
| Trade receivables | 40 | €6,590 | €19,525 | +€12,935 | +196% |
| Other amounts receivable | 41 | €352,216 | €6,202 | -€346,014 | -98.2% |
| Cash at bank and in hand | 54/58 | €389,957 | €223,650 | -€166,306 | -42.6% |
| Deferred charges and accrued income | 490/1 | €9,405 | €2,874 | -€6,531 | -69.4% |
| Total equity and liabilities | 10/49 | €8,951,047 | €8,548,194 | -€402,853 | -4.5% |
| Equity | 10/15 | €4,416,172 | €4,436,518 | +€20,346 | +0.5% |
| Contributions | 10/11 | €4,220,051 | €4,220,051 | = | 0.0% |
| Capital | 10 | €4,220,051 | €4,220,051 | = | 0.0% |
| Issued capital | 100 | €4,220,051 | €4,220,051 | = | 0.0% |
| Reserves | 13 | €196,121 | €216,467 | +€20,346 | +10.4% |
| Non-distributable reserves | 130/1 | €196,121 | €216,467 | +€20,346 | +10.4% |
| Legal reserve | 130 | €196,121 | €216,467 | +€20,346 | +10.4% |
| Amounts payable | 17/49 | €4,534,875 | €4,111,676 | -€423,199 | -9.3% |
| Amounts payable after more than one year | 17 | €3,466,667 | €3,033,333 | -€433,333 | -12.5% |
| Financial debts | 170/4 | €3,466,667 | €3,033,333 | -€433,333 | -12.5% |
| Amounts payable within one year | 42/48 | €1,022,733 | €1,078,343 | +€55,610 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €541,667 | €433,333 | -€108,333 | -20.0% |
| Trade debts | 44 | €140,893 | €156,138 | +€15,245 | +10.8% |
| Suppliers | 440/4 | €140,893 | €156,138 | +€15,245 | +10.8% |
| Taxes, remuneration and social security | 45 | €6,925 | €8,901 | +€1,976 | +28.5% |
| Taxes | 450/3 | €6,925 | €8,901 | +€1,976 | +28.5% |
| Other amounts payable | 47/48 | €333,248 | €479,970 | +€146,722 | +44.0% |
| Accrued charges and deferred income | 492/3 | €45,476 | - | -€45,476 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €523,885 | €531,533 | +€7,647 | +1.5% |
| Other operating charges | 640/8 | €162,943 | €168,057 | +€5,114 | +3.1% |
| Gross operating margin | 9900 | €1,253,526 | €1,313,273 | +€59,746 | +4.8% |
| Operating profit (loss) | 9901 | €566,698 | €613,683 | +€46,985 | +8.3% |
| Financial income | 75/76B | €19,177 | €9,579 | -€9,598 | -50.0% |
| Recurring financial income | 75 | €19,177 | €9,579 | -€9,598 | -50.0% |
| Financial charges | 65/66B | €93,126 | €80,707 | -€12,419 | -13.3% |
| Recurring financial charges | 65 | €93,126 | €80,707 | -€12,419 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €492,749 | €542,555 | +€49,806 | +10.1% |
| Income taxes | 67/77 | €123,187 | €135,639 | +€12,451 | +10.1% |
| Profit (loss) for the period | 9904 | €369,562 | €406,916 | +€37,354 | +10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €369,562 | €406,916 | +€37,354 | +10.1% |
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 15 October 2026 via checked.be.