IMMO - 47: 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 - 47
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€245,011
2024 · €25,706+€219,305
Equity
€3.6m
2024 · €3.3m+€245,011
Cash
€61,595
2024 · €46,140+€15,455
Balance sheet total
€8.8m
2024 · €8.5m+€300,535
Largest movements
Assets
- Receivables within one year +€311,792
up €311,792 (+32.8%), from €951,405 to €1.3m
of which Other amounts receivable: +€255,547
Equity and liabilities
- Debts after one year -€514,339
down €514,339 (-14.4%), from €3.6m to €3.1m
- Other debts +€401,266
up €401,266 (+128%), from €313,839 to €715,105
- Profit (loss) carried forward +€245,011
up €245,011 (+209%), from €117,432 to €362,443
Income statement
- Financial income +€145,090
up €145,090 (+13,981%), from €1,038 to €146,128
- Taxes -€88,153
down €88,153 (-131%), from -€67,426 to -€155,579
- Financial charges +€31,327
up €31,327 (+16.7%), from €188,078 to €219,405
- Write-downs -€18,595
new in 2025: -€18,595
- Staff costs +€15,946
up €15,946 (+21.2%), from €75,201 to €91,147
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
€25,706
Gross operating margin
+€13,064
Staff costs
-€15,946
Depreciation
+€3,519
Write-downs
+€18,595
Other operating charges
-€1,843
Financial income
+€145,090
Financial charges
-€31,327
Taxes
+€88,153
Result 2025
€245,011
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
+€595,923
Investment
-€59,898
Financing
-€520,570
Cash 2024
€46,140
From operations (derived)
+€595,923
Net result for the year
+€245,011
Depreciation
+€138,203
Receivables after one year
+€19,350
Receivables within one year
-€311,792
Deferred charges and accrued income
-€70,942
Trade debts
+€73,101
Tax, wage and social debts
+€37,914
Other debts
+€401,266
Accrued charges and deferred income
+€63,813
Investment (derived)
-€59,898
Investment in fixed assets (net)
-€59,898
Financing
-€520,570
Debts after one year
-€514,339
Current portion of long-term debt
-€6,231
Cash 2025
€61,595
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,517,226 | €8,817,761 | +€300,535 | +3.5% |
| Fixed assets | 21/28 | €7,478,104 | €7,399,799 | -€78,305 | -1.0% |
| Intangible fixed assets | 21 | €2,690 | €2,690 | = | 0.0% |
| Tangible fixed assets | 22/27 | €6,523,022 | €6,444,717 | -€78,305 | -1.2% |
| Land and buildings | 22 | €6,241,398 | €6,212,802 | -€28,596 | -0.5% |
| Plant, machinery and equipment | 23 | €276,532 | €227,507 | -€49,024 | -17.7% |
| Furniture and vehicles | 24 | €5,092 | €4,408 | -€685 | -13.4% |
| Financial fixed assets | 28 | €952,392 | €952,392 | = | 0.0% |
| Current assets | 29/58 | €1,039,122 | €1,417,962 | +€378,840 | +36.5% |
| Amounts receivable after more than one year | 29 | €27,526 | €8,176 | -€19,350 | -70.3% |
| Trade receivables | 290 | €27,526 | €8,176 | -€19,350 | -70.3% |
| Amounts receivable within one year | 40/41 | €951,405 | €1,263,197 | +€311,792 | +32.8% |
| Trade receivables | 40 | €196,816 | €253,062 | +€56,245 | +28.6% |
| Other amounts receivable | 41 | €754,588 | €1,010,136 | +€255,547 | +33.9% |
| Cash at bank and in hand | 54/58 | €46,140 | €61,595 | +€15,455 | +33.5% |
| Deferred charges and accrued income | 490/1 | €14,052 | €84,994 | +€70,942 | +505% |
| Total equity and liabilities | 10/49 | €8,517,226 | €8,817,761 | +€300,535 | +3.5% |
| Equity | 10/15 | €3,344,627 | €3,589,638 | +€245,011 | +7.3% |
| Contributions | 10/11 | €1,710,157 | €1,710,157 | = | 0.0% |
| Capital | 10 | €1,710,157 | €1,710,157 | = | 0.0% |
| Issued capital | 100 | €1,710,157 | €1,710,157 | = | 0.0% |
| Reserves | 13 | €1,517,038 | €1,517,038 | = | 0.0% |
| Non-distributable reserves | 130/1 | €229,418 | €229,418 | = | 0.0% |
| Legal reserve | 130 | €219,652 | €219,652 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,766 | €9,766 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,067,596 | €1,067,596 | = | 0.0% |
| Distributable reserves | 133 | €220,024 | €220,024 | = | 0.0% |
| Profit (loss) carried forward | 14 | €117,432 | €362,443 | +€245,011 | +209% |
| Provisions and deferred taxes | 16 | €359,775 | €359,775 | = | 0.0% |
| Deferred taxes | 168 | €359,775 | €359,775 | = | 0.0% |
| Amounts payable | 17/49 | €4,812,824 | €4,868,348 | +€55,524 | +1.2% |
| Amounts payable after more than one year | 17 | €3,566,085 | €3,051,745 | -€514,339 | -14.4% |
| Financial debts | 170/4 | €3,566,085 | €3,051,745 | -€514,339 | -14.4% |
| Amounts payable within one year | 42/48 | €1,201,282 | €1,707,332 | +€506,050 | +42.1% |
| Current portion of amounts payable after more than one year | 42 | €517,982 | €511,751 | -€6,231 | -1.2% |
| Trade debts | 44 | €336,209 | €409,310 | +€73,101 | +21.7% |
| Suppliers | 440/4 | €336,209 | €409,310 | +€73,101 | +21.7% |
| Taxes, remuneration and social security | 45 | €33,251 | €71,165 | +€37,914 | +114% |
| Taxes | 450/3 | €23,261 | €55,915 | +€32,653 | +140% |
| Remuneration and social security | 454/9 | €9,989 | €15,250 | +€5,261 | +52.7% |
| Other amounts payable | 47/48 | €313,839 | €715,105 | +€401,266 | +128% |
| Accrued charges and deferred income | 492/3 | €45,458 | €109,270 | +€63,813 | +140% |
| Non-recurring operating income | 76A | €0 | €60,995 | +€60,995 | |
| Remuneration, social security and pensions | 62 | €75,201 | €91,147 | +€15,946 | +21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,721 | €138,203 | -€3,519 | -2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€18,595 | -€18,595 | |
| Other operating charges | 640/8 | €52,256 | €54,099 | +€1,843 | +3.5% |
| Gross operating margin | 9900 | €414,499 | €427,563 | +€13,064 | +3.2% |
| Operating profit (loss) | 9901 | €145,320 | €162,709 | +€17,389 | +12.0% |
| Financial income | 75/76B | €1,038 | €146,128 | +€145,090 | +13,981% |
| Recurring financial income | 75 | €1,038 | €146,128 | +€145,090 | +13,981% |
| Financial charges | 65/66B | €188,078 | €219,405 | +€31,327 | +16.7% |
| Recurring financial charges | 65 | €188,078 | €219,405 | +€31,327 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | -€41,721 | €89,432 | +€131,152 | |
| Income taxes | 67/77 | -€67,426 | -€155,579 | -€88,153 | -131% |
| Profit (loss) for the period | 9904 | €25,706 | €245,011 | +€219,305 | +853% |
| Profit (loss) for the period to be appropriated | 9905 | €25,706 | €245,011 | +€219,305 | +853% |
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 14 October 2026 via checked.be.