IMMO 48: what changed
Two fiscal 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 48
Largest movements
- Cash +€30,080
up €30,080 (+61.7%), from €48,769 to €78,849
mainly Depreciation (+€18,594) and Net result for the year (+€10,516)
- Tangible fixed assets -€18,594
down €18,594 (-6.6%), from €281,357 to €262,763
- Profit (loss) carried forward +€10,516
up €10,516 (+15.8%), from -€66,719 to -€56,203
- Gross operating margin +€2,932
up €2,932 (+9.2%), from €32,034 to €34,967
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 | €331,346 | €341,948 | +€10,601 | +3.2% |
| Fixed assets | 21/28 | €281,357 | €262,763 | -€18,594 | -6.6% |
| Tangible fixed assets | 22/27 | €281,357 | €262,763 | -€18,594 | -6.6% |
| Land and buildings | 22 | €281,357 | €262,763 | -€18,594 | -6.6% |
| Current assets | 29/58 | €49,989 | €79,185 | +€29,195 | +58.4% |
| Amounts receivable within one year | 40/41 | €908 | €0 | -€908 | -100.0% |
| Trade receivables | 40 | €908 | €0 | -€908 | -100.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €48,769 | €78,849 | +€30,080 | +61.7% |
| Deferred charges and accrued income | 490/1 | €313 | €335 | +€23 | +7.2% |
| Total equity and liabilities | 10/49 | €331,346 | €341,948 | +€10,601 | +3.2% |
| Equity | 10/15 | €63,241 | €73,757 | +€10,516 | +16.6% |
| Contributions | 10/11 | €129,960 | €129,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,719 | -€56,203 | +€10,516 | +15.8% |
| Amounts payable | 17/49 | €268,106 | €268,191 | +€85 | 0.0% |
| Amounts payable within one year | 42/48 | €263,761 | €263,710 | -€51 | 0.0% |
| Trade debts | 44 | €149 | €0 | -€149 | -100.0% |
| Suppliers | 440/4 | €149 | €0 | -€149 | -100.0% |
| Other amounts payable | 47/48 | €263,612 | €263,710 | +€98 | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,345 | €4,481 | +€136 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,552 | €18,594 | +€41 | +0.2% |
| Other operating charges | 640/8 | €5,561 | €5,696 | +€135 | +2.4% |
| Gross operating margin | 9900 | €32,034 | €34,967 | +€2,932 | +9.2% |
| Operating profit (loss) | 9901 | €7,921 | €10,677 | +€2,756 | +34.8% |
| Financial charges | 65/66B | €160 | €161 | +€1 | +0.7% |
| Recurring financial charges | 65 | €160 | €161 | +€1 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €7,761 | €10,516 | +€2,755 | +35.5% |
| Profit (loss) for the period | 9904 | €7,761 | €10,516 | +€2,755 | +35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,761 | €10,516 | +€2,755 | +35.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.