IMMO A & J: 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 A & J
Largest movements
- Tangible fixed assets -€45,920
down €45,920 (-8.5%), from €538,653 to €492,733
of which Land and buildings: -€43,987
- Cash +€15,800
up €15,800 (+611.3%), from €2,585 to €18,385
- Receivables within one year +€10,498
new in 2025: €10,498
- Other debts -€216,206
down €216,206 (-50.9%), from €424,866 to €208,659
- Debts after one year +€161,634
up €161,634 (+899.5%), from €17,970 to €179,604
- Current portion of long-term debt +€17,491
up €17,491 (+623.4%), from €2,806 to €20,297
- Reserves +€10,947
up €10,947 (+12.4%), from €88,501 to €99,448
of which Distributable reserves: +€10,947
- Gross operating margin +€52,911
up €52,911 (+192.5%), from €27,483 to €80,394
- Depreciation +€19,164
up €19,164 (+58.2%), from €32,951 to €52,115
- Financial charges +€3,089
up €3,089 (+42.6%), from €7,249 to €10,338
- Other operating charges +€2,961
up €2,961 (+100.7%), from €2,941 to €5,902
- Taxes +€1,095
up €1,095, from €0 to €1,095
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €541,792 | €523,638 | -€18,154 | -3.4% |
| Fixed assets | 21/28 | €538,653 | €492,733 | -€45,920 | -8.5% |
| Tangible fixed assets | 22/27 | €538,653 | €492,733 | -€45,920 | -8.5% |
| Land and buildings | 22 | €526,958 | €482,971 | -€43,987 | -8.3% |
| Plant, machinery and equipment | 23 | €5,684 | €4,808 | -€876 | -15.4% |
| Furniture and vehicles | 24 | €6,011 | €4,954 | -€1,057 | -17.6% |
| Current assets | 29/58 | €3,139 | €30,904 | +€27,766 | +884.6% |
| Amounts receivable within one year | 40/41 | - | €10,498 | +€10,498 | |
| Trade receivables | 40 | - | €10,498 | +€10,498 | |
| Cash at bank and in hand | 54/58 | €2,585 | €18,385 | +€15,800 | +611.3% |
| Deferred charges and accrued income | 490/1 | €554 | €2,021 | +€1,467 | +264.8% |
| Total equity and liabilities | 10/49 | €541,792 | €523,638 | -€18,154 | -3.4% |
| Equity | 10/15 | €94,701 | €105,648 | +€10,947 | +11.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €88,501 | €99,448 | +€10,947 | +12.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €88,501 | €99,448 | +€10,947 | +12.4% |
| Amounts payable | 17/49 | €447,091 | €417,990 | -€29,101 | -6.5% |
| Amounts payable after more than one year | 17 | €17,970 | €179,604 | +€161,634 | +899.5% |
| Financial debts | 170/4 | €17,970 | €179,604 | +€161,634 | +899.5% |
| Amounts payable within one year | 42/48 | €429,121 | €236,363 | -€192,758 | -44.9% |
| Current portion of amounts payable after more than one year | 42 | €2,806 | €20,297 | +€17,491 | +623.4% |
| Trade debts | 44 | €1,449 | €5,467 | +€4,018 | +277.2% |
| Suppliers | 440/4 | €1,449 | €5,467 | +€4,018 | +277.2% |
| Taxes, remuneration and social security | 45 | €0 | €1,939 | +€1,939 | |
| Taxes | 450/3 | €0 | €1,939 | +€1,939 | |
| Other amounts payable | 47/48 | €424,866 | €208,659 | -€216,206 | -50.9% |
| Accrued charges and deferred income | 492/3 | - | €2,023 | +€2,023 | |
| Non-recurring operating income | 76A | €634 | €0 | -€634 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,951 | €52,115 | +€19,164 | +58.2% |
| Other operating charges | 640/8 | €2,941 | €5,902 | +€2,961 | +100.7% |
| Gross operating margin | 9900 | €27,483 | €80,394 | +€52,911 | +192.5% |
| Operating profit (loss) | 9901 | -€8,408 | €22,378 | +€30,786 | |
| Financial income | 75/76B | €0 | €2 | +€2 | +1887.5% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +1887.5% |
| Financial charges | 65/66B | €7,249 | €10,338 | +€3,089 | +42.6% |
| Recurring financial charges | 65 | €7,249 | €10,338 | +€3,089 | +42.6% |
| Profit (loss) for the period before taxes | 9903 | -€15,657 | €12,042 | +€27,699 | |
| Income taxes | 67/77 | €0 | €1,095 | +€1,095 | |
| Profit (loss) for the period | 9904 | -€15,657 | €10,947 | +€26,604 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,657 | €10,947 | +€26,604 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.