IMMO 577: 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 577
Largest movements
- Cash -€125,998
down €125,998 (-41.2%), from €306,050 to €180,052
mainly Contributions, distributions and other (-€376,460) and Investment in fixed assets (net) (-€138,152)
- Receivables within one year -€94,229
down €94,229 (-51.9%), from €181,500 to €87,272
of which Other amounts receivable: -€97,124
- Tangible fixed assets +€90,270
up €90,270 (+7.4%), from €1.2m to €1.3m
of which Land and buildings: +€93,772
- Debts after one year -€81,726
down €81,726 (-8.8%), from €924,216 to €842,490
of which Financial debts: -€82,061
- Short-term financial debts -€50,000
no longer reported in 2025 (was €50,000)
- Profit (loss) carried forward -€38,390
down €38,390 (-6.2%), from €620,703 to €582,314
- Tax, wage and social debts +€21,816
up €21,816 (+80.2%), from €27,188 to €49,004
- Gross operating margin +€88,696
up €88,696 (+16.2%), from €548,321 to €637,017
- Other operating charges -€55,225
down €55,225 (-83.2%), from €66,357 to €11,132
- Taxes +€36,978
up €36,978 (+47.6%), from €77,638 to €114,616
- Staff costs +€8,993
up €8,993 (+11.7%), from €77,093 to €86,086
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 | €1,708,553 | €1,575,748 | -€132,805 | -7.8% |
| Fixed assets | 21/28 | €1,215,271 | €1,305,541 | +€90,270 | +7.4% |
| Tangible fixed assets | 22/27 | €1,215,271 | €1,305,541 | +€90,270 | +7.4% |
| Land and buildings | 22 | €1,179,848 | €1,273,619 | +€93,772 | +7.9% |
| Plant, machinery and equipment | 23 | €9,851 | €11,275 | +€1,424 | +14.4% |
| Furniture and vehicles | 24 | €22,912 | €18,377 | -€4,535 | -19.8% |
| Other tangible fixed assets | 26 | €2,659 | €2,269 | -€390 | -14.7% |
| Current assets | 29/58 | €493,282 | €270,207 | -€223,076 | -45.2% |
| Amounts receivable within one year | 40/41 | €181,500 | €87,272 | -€94,229 | -51.9% |
| Trade receivables | 40 | €5,610 | €8,505 | +€2,895 | +51.6% |
| Other amounts receivable | 41 | €175,890 | €78,766 | -€97,124 | -55.2% |
| Cash at bank and in hand | 54/58 | €306,050 | €180,052 | -€125,998 | -41.2% |
| Deferred charges and accrued income | 490/1 | €5,732 | €2,883 | -€2,849 | -49.7% |
| Total equity and liabilities | 10/49 | €1,708,553 | €1,575,748 | -€132,805 | -7.8% |
| Equity | 10/15 | €625,703 | €587,314 | -€38,390 | -6.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €620,703 | €582,314 | -€38,390 | -6.2% |
| Amounts payable | 17/49 | €1,082,850 | €988,434 | -€94,416 | -8.7% |
| Amounts payable after more than one year | 17 | €924,216 | €842,490 | -€81,726 | -8.8% |
| Financial debts | 170/4 | €922,316 | €840,255 | -€82,061 | -8.9% |
| Other amounts payable | 178/9 | €1,900 | €2,235 | +€335 | +17.6% |
| Amounts payable within one year | 42/48 | €158,634 | €145,945 | -€12,690 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €78,764 | €78,753 | -€11 | 0.0% |
| Financial debts | 43 | €50,000 | - | -€50,000 | |
| Credit institutions | 430/8 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €2,682 | €18,187 | +€15,505 | +578% |
| Suppliers | 440/4 | €2,682 | €18,187 | +€15,505 | +578% |
| Taxes, remuneration and social security | 45 | €27,188 | €49,004 | +€21,816 | +80.2% |
| Taxes | 450/3 | €27,188 | €49,004 | +€21,816 | +80.2% |
| Remuneration, social security and pensions | 62 | €77,093 | €86,086 | +€8,993 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,308 | €47,882 | +€1,574 | +3.4% |
| Other operating charges | 640/8 | €66,357 | €11,132 | -€55,225 | -83.2% |
| Gross operating margin | 9900 | €548,321 | €637,017 | +€88,696 | +16.2% |
| Operating profit (loss) | 9901 | €358,564 | €491,917 | +€133,353 | +37.2% |
| Financial income | 75/76B | €1,533 | €2,706 | +€1,172 | +76.5% |
| Recurring financial income | 75 | €1,533 | €2,706 | +€1,172 | +76.5% |
| Financial charges | 65/66B | €37,670 | €41,937 | +€4,267 | +11.3% |
| Recurring financial charges | 65 | €37,670 | €41,937 | +€4,267 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €322,428 | €452,686 | +€130,258 | +40.4% |
| Income taxes | 67/77 | €77,638 | €114,616 | +€36,978 | +47.6% |
| Profit (loss) for the period | 9904 | €244,790 | €338,070 | +€93,281 | +38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €244,790 | €338,070 | +€93,281 | +38.1% |
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 24 October 2026 via checked.be.