IMMO 8: 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 8
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
-€278,609
2024 · €173,732-€452,341
Equity
€6.6m
2024 · €6.9m-€278,609
Cash
€632
2024 · €2,780-€2,148
Balance sheet total
€19.6m
2024 · €19.8m-€193,601
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Other debts +€1.2m
up €1.2m (+25.4%), from €4.7m to €6.0m
- Debts after one year -€1.0m
down €1.0m (-16.1%), from €6.3m to €5.3m
of which Financial debts: -€1.0m
- Reserves -€221,668
down €221,668 (-4.6%), from €4.8m to €4.6m
of which Distributable reserves: -€221,668
Income statement
- Turnover -€133,704
down €133,704 (-17.6%), from €759,694 to €625,990
- Depreciation +€77,982
up €77,982 (+18.2%), from €428,205 to €506,188
- Services and other goods -€18,134
down €18,134 (-7.4%), from €244,334 to €226,200
- Financial charges +€13,186
up €13,186 (+8.0%), from €163,903 to €177,090
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
€173,732
Turnover
-€133,704
Other operating income
-€1,221
Services and other goods
+€18,134
Staff costs
+€2,560
Depreciation
-€77,982
Other operating charges
+€5,512
Other operating items
-€253,061
Financial income
+€607
Financial charges
-€13,186
Result 2025
-€278,609
raises the resultlowers the resultnot broken down further in the accounts
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
+€1.5m
Investment
-€416,271
Financing
-€1.0m
Cash 2024
€2,780
From operations (derived)
+€1.5m
Net result for the year
-€278,609
Depreciation
+€506,188
Receivables within one year
+€96,938
Deferred charges and accrued income
+€4,599
Trade debts
-€18,590
Tax, wage and social debts
-€1,625
Other debts
+€1.2m
Accrued charges and deferred income
-€51,672
Investment (derived)
-€416,271
Investment in fixed assets (net)
-€416,271
Financing
-€1.0m
Debts after one year
-€1.0m
Current portion of long-term debt
-€44,738
Short-term financial debts
+€12,328
Cash 2025
€632
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,802,517 | €19,608,916 | -€193,601 | -1.0% |
| Formation expenses | 20 | - | €3,174 | +€3,174 | |
| Fixed assets | 21/28 | €19,415,895 | €19,322,804 | -€93,091 | -0.5% |
| Intangible fixed assets | 21 | €69,909 | €52,431 | -€17,477 | -25.0% |
| Tangible fixed assets | 22/27 | €11,717,597 | €11,676,927 | -€40,669 | -0.3% |
| Land and buildings | 22 | €9,122,810 | €9,164,185 | +€41,374 | +0.5% |
| Plant, machinery and equipment | 23 | €20,959 | €11,959 | -€9,000 | -42.9% |
| Furniture and vehicles | 24 | €6,055 | €3,455 | -€2,600 | -42.9% |
| Leasing and similar rights | 25 | €2,231,740 | €2,169,879 | -€61,860 | -2.8% |
| Other tangible fixed assets | 26 | €336,033 | €327,449 | -€8,583 | -2.6% |
| Financial fixed assets | 28 | €7,628,390 | €7,593,445 | -€34,945 | -0.5% |
| Affiliated companies | 280/1 | €7,592,095 | €7,592,095 | = | 0.0% |
| Participating interests | 280 | €7,592,095 | €7,592,095 | = | 0.0% |
| Other financial fixed assets | 284/8 | €36,295 | €1,350 | -€34,945 | -96.3% |
| Amounts receivable and cash guarantees | 285/8 | €36,295 | €1,350 | -€34,945 | -96.3% |
| Current assets | 29/58 | €386,622 | €282,937 | -€103,685 | -26.8% |
| Amounts receivable within one year | 40/41 | €354,886 | €257,948 | -€96,938 | -27.3% |
| Trade receivables | 40 | €79,481 | €40,578 | -€38,903 | -48.9% |
| Other amounts receivable | 41 | €275,405 | €217,370 | -€58,035 | -21.1% |
| Cash at bank and in hand | 54/58 | €2,780 | €632 | -€2,148 | -77.3% |
| Deferred charges and accrued income | 490/1 | €28,956 | €24,357 | -€4,599 | -15.9% |
| Total equity and liabilities | 10/49 | €19,802,517 | €19,608,916 | -€193,601 | -1.0% |
| Equity | 10/15 | €6,865,570 | €6,586,961 | -€278,609 | -4.1% |
| Contributions | 10/11 | €18,908 | €18,908 | = | 0.0% |
| Revaluation surpluses | 12 | €2,049,932 | €1,992,991 | -€56,941 | -2.8% |
| Reserves | 13 | €4,796,730 | €4,575,062 | -€221,668 | -4.6% |
| Non-distributable reserves | 130/1 | €3,741 | €3,741 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,741 | €3,741 | = | 0.0% |
| Tax-exempt reserves | 132 | €307,473 | €307,473 | = | 0.0% |
| Distributable reserves | 133 | €4,485,516 | €4,263,848 | -€221,668 | -4.9% |
| Amounts payable | 17/49 | €12,936,947 | €13,021,955 | +€85,008 | +0.7% |
| Amounts payable after more than one year | 17 | €6,302,298 | €5,284,803 | -€1.0m | -16.1% |
| Financial debts | 170/4 | €6,287,245 | €5,275,201 | -€1.0m | -16.1% |
| Leasing and similar obligations | 172 | €1,603,258 | €1,482,473 | -€120,785 | -7.5% |
| Credit institutions | 173 | €4,683,987 | €3,792,729 | -€891,258 | -19.0% |
| Other amounts payable | 178/9 | €15,053 | €9,602 | -€5,451 | -36.2% |
| Amounts payable within one year | 42/48 | €5,703,466 | €6,857,640 | +€1.2m | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €905,700 | €860,962 | -€44,738 | -4.9% |
| Financial debts | 43 | - | €12,328 | +€12,328 | |
| Credit institutions | 430/8 | - | €12,328 | +€12,328 | |
| Trade debts | 44 | €48,919 | €30,328 | -€18,590 | -38.0% |
| Suppliers | 440/4 | €48,919 | €30,328 | -€18,590 | -38.0% |
| Taxes, remuneration and social security | 45 | €3,790 | €2,165 | -€1,625 | -42.9% |
| Taxes | 450/3 | €3,790 | €2,165 | -€1,625 | -42.9% |
| Other amounts payable | 47/48 | €4,745,057 | €5,951,856 | +€1.2m | +25.4% |
| Accrued charges and deferred income | 492/3 | €931,184 | €879,512 | -€51,672 | -5.5% |
| Operating income | 70/76A | €1,084,203 | €692,531 | -€391,672 | -36.1% |
| Turnover | 70 | €759,694 | €625,990 | -€133,704 | -17.6% |
| Other operating income | 74 | €2,802 | €1,581 | -€1,221 | -43.6% |
| Non-recurring operating income | 76A | €321,707 | €64,960 | -€256,747 | -79.8% |
| Operating charges | 60/66A | €753,483 | €801,573 | +€48,090 | +6.4% |
| Services and other goods | 61 | €244,334 | €226,200 | -€18,134 | -7.4% |
| Remuneration, social security and pensions | 62 | €2,904 | €343 | -€2,560 | -88.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €428,205 | €506,188 | +€77,982 | +18.2% |
| Other operating charges | 640/8 | €78,041 | €72,528 | -€5,512 | -7.1% |
| Operating charges capitalised as restructuring costs | 649 | - | -€3,686 | -€3,686 | |
| Operating profit (loss) | 9901 | €330,720 | -€109,042 | -€439,762 | |
| Financial income | 75/76B | €6,916 | €7,523 | +€607 | +8.8% |
| Recurring financial income | 75 | €6,916 | €7,523 | +€607 | +8.8% |
| Income from current assets | 751 | €6,916 | €7,523 | +€607 | +8.8% |
| Financial charges | 65/66B | €163,903 | €177,090 | +€13,186 | +8.0% |
| Recurring financial charges | 65 | €163,903 | €177,090 | +€13,186 | +8.0% |
| Debt charges | 650 | €161,446 | €169,988 | +€8,542 | +5.3% |
| Other financial charges | 652/9 | €2,457 | €7,102 | +€4,645 | +189% |
| Profit (loss) for the period before taxes | 9903 | €173,732 | -€278,609 | -€452,341 | |
| Profit (loss) for the period | 9904 | €173,732 | -€278,609 | -€452,341 | |
| Profit (loss) for the period to be appropriated | 9905 | €173,732 | -€278,609 | -€452,341 |
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 18 October 2026 via checked.be.