IMMO 31-24: 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
IMMO 31-24
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
-€2,587
2024 · -€8,666+€6,079
Equity
€365,543
2024 · €368,130-€2,587
Cash
€5,174
2024 · €2,981+€2,193
Balance sheet total
€738,023
2024 · €737,750+€273
Largest movements
Assets
- Tangible fixed assets -€14,993
down €14,993 (-2.3%), from €656,394 to €641,401
- Receivables within one year +€12,667
up €12,667 (+16.6%), from €76,092 to €88,759
Equity and liabilities
- Reserves -€13,365
down €13,365 (-14.5%), from €92,243 to €78,878
of which Tax-exempt reserves: -€13,365
- Profit (loss) carried forward +€10,778
up €10,778 (+66.9%), from -€16,113 to -€5,335
Income statement
- Gross operating margin +€7,381
up €7,381 (+21.6%), from €34,169 to €41,550
- Financial charges +€890
up €890 (+13.1%), from €6,777 to €7,667
- Depreciation +€734
up €734 (+2.0%), from €36,279 to €37,013
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
-€8,666
Gross operating margin
+€7,381
Depreciation
-€734
Other operating charges
+€146
Financial income
+€176
Financial charges
-€890
Result 2025
-€2,587
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
+€17,749
Investment
-€22,020
Financing
+€6,464
Cash 2024
€2,981
From operations (derived)
+€17,749
Net result for the year
-€2,587
Depreciation
+€37,013
Receivables within one year
-€12,667
Deferred charges and accrued income
-€406
Provisions
-€6,261
Trade debts
+€8
Other debts
+€2,549
Accrued charges and deferred income
+€100
Investment (derived)
-€22,020
Investment in fixed assets (net)
-€22,020
Financing
+€6,464
Debts after one year
+€1,126
Current portion of long-term debt
+€5,338
Cash 2025
€5,174
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €737,750 | €738,023 | +€273 | 0.0% |
| Fixed assets | 21/28 | €656,394 | €641,401 | -€14,993 | -2.3% |
| Tangible fixed assets | 22/27 | €656,394 | €641,401 | -€14,993 | -2.3% |
| Land and buildings | 22 | €656,394 | €641,401 | -€14,993 | -2.3% |
| Current assets | 29/58 | €81,356 | €96,622 | +€15,266 | +18.8% |
| Amounts receivable within one year | 40/41 | €76,092 | €88,759 | +€12,667 | +16.6% |
| Other amounts receivable | 41 | €76,092 | €88,759 | +€12,667 | +16.6% |
| Cash at bank and in hand | 54/58 | €2,981 | €5,174 | +€2,193 | +73.6% |
| Deferred charges and accrued income | 490/1 | €2,283 | €2,689 | +€406 | +17.8% |
| Total equity and liabilities | 10/49 | €737,750 | €738,023 | +€273 | 0.0% |
| Equity | 10/15 | €368,130 | €365,543 | -€2,587 | -0.7% |
| Contributions | 10/11 | €292,000 | €292,000 | = | 0.0% |
| Capital | 10 | €292,000 | - | -€292,000 | |
| Issued capital | 100 | €292,000 | - | -€292,000 | |
| Reserves | 13 | €92,243 | €78,878 | -€13,365 | -14.5% |
| Non-distributable reserves | 130/1 | €5,217 | €5,217 | = | 0.0% |
| Legal reserve | 130 | €5,217 | - | -€5,217 | |
| Reserves not available under the articles | 1311 | - | €5,217 | +€5,217 | |
| Tax-exempt reserves | 132 | €87,026 | €73,661 | -€13,365 | -15.4% |
| Profit (loss) carried forward | 14 | -€16,113 | -€5,335 | +€10,778 | +66.9% |
| Provisions and deferred taxes | 16 | €20,397 | €14,136 | -€6,261 | -30.7% |
| Deferred taxes | 168 | €20,397 | €14,136 | -€6,261 | -30.7% |
| Amounts payable | 17/49 | €349,223 | €358,344 | +€9,121 | +2.6% |
| Amounts payable after more than one year | 17 | €110,387 | €111,513 | +€1,126 | +1.0% |
| Financial debts | 170/4 | €110,387 | €111,513 | +€1,126 | +1.0% |
| Amounts payable within one year | 42/48 | €237,286 | €245,181 | +€7,895 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €14,567 | €19,905 | +€5,338 | +36.6% |
| Trade debts | 44 | €167 | €175 | +€8 | +4.8% |
| Suppliers | 440/4 | €167 | €175 | +€8 | +4.8% |
| Other amounts payable | 47/48 | €222,552 | €225,101 | +€2,549 | +1.1% |
| Accrued charges and deferred income | 492/3 | €1,550 | €1,650 | +€100 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,279 | €37,013 | +€734 | +2.0% |
| Other operating charges | 640/8 | €10,337 | €10,191 | -€146 | -1.4% |
| Gross operating margin | 9900 | €34,169 | €41,550 | +€7,381 | +21.6% |
| Operating profit (loss) | 9901 | -€12,447 | -€5,654 | +€6,793 | +54.6% |
| Financial income | 75/76B | €4,297 | €4,473 | +€176 | +4.1% |
| Recurring financial income | 75 | €4,297 | €4,473 | +€176 | +4.1% |
| Financial charges | 65/66B | €6,777 | €7,667 | +€890 | +13.1% |
| Recurring financial charges | 65 | €6,777 | €7,667 | +€890 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | -€14,927 | -€8,848 | +€6,079 | +40.7% |
| Transfer from deferred taxes | 780 | €6,261 | €6,261 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€8,666 | -€2,587 | +€6,079 | +70.1% |
| Transfer from tax-exempt reserves | 789 | €13,365 | €13,365 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,699 | €10,778 | +€6,079 | +129% |
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 21 October 2026 via checked.be.