IMMO A&K: 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 A&K
Largest movements
- Tangible fixed assets +€2.4m
up €2.4m (+137.6%), from €1.7m to €4.1m
of which Land and buildings: +€4.0m
- Cash +€1.1m
up €1.1m (+284.2%), from €372,852 to €1.4m
mainly Contributions, distributions and other (+€3.6m) and Depreciation (+€199,627)
- Receivables within one year -€73,223
down €73,223 (-66.1%), from €110,820 to €37,597
of which Trade receivables: -€73,880
- Contributions +€3.6m
up €3.6m (+3404.6%), from €105,313 to €3.7m
- Debts after one year -€227,282
down €227,282 (-23.3%), from €973,762 to €746,480
- Reserves +€72,775
up €72,775 (+11.5%), from €630,312 to €703,087
of which Distributable reserves: +€72,775
- Other operating charges +€134,617
up €134,617 (+432.3%), from €31,141 to €165,758
- Gross operating margin +€85,312
up €85,312 (+21.8%), from €391,121 to €476,433
- Taxes -€12,971
down €12,971 (-34.8%), from €37,315 to €24,343
- Financial charges -€5,771
down €5,771 (-17.1%), from €33,768 to €27,998
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 | €2,239,377 | €5,612,673 | +€3.4m | +150.6% |
| Fixed assets | 21/28 | €1,735,628 | €4,121,444 | +€2.4m | +137.5% |
| Tangible fixed assets | 22/27 | €1,734,368 | €4,120,184 | +€2.4m | +137.6% |
| Land and buildings | 22 | €96,109 | €4,120,184 | +€4.0m | +4187.0% |
| Other tangible fixed assets | 26 | €1,638,259 | €0 | -€1.6m | -100.0% |
| Financial fixed assets | 28 | €1,260 | €1,260 | = | 0.0% |
| Current assets | 29/58 | €503,749 | €1,491,230 | +€987,481 | +196.0% |
| Amounts receivable after more than one year | 29 | €20,077 | €21,081 | +€1,004 | +5.0% |
| Other amounts receivable | 291 | €20,077 | €21,081 | +€1,004 | +5.0% |
| Amounts receivable within one year | 40/41 | €110,820 | €37,597 | -€73,223 | -66.1% |
| Trade receivables | 40 | €110,820 | €36,940 | -€73,880 | -66.7% |
| Other amounts receivable | 41 | - | €657 | +€657 | |
| Cash at bank and in hand | 54/58 | €372,852 | €1,432,552 | +€1.1m | +284.2% |
| Total equity and liabilities | 10/49 | €2,239,377 | €5,612,673 | +€3.4m | +150.6% |
| Equity | 10/15 | €847,888 | €4,506,105 | +€3.7m | +431.5% |
| Contributions | 10/11 | €105,313 | €3,690,755 | +€3.6m | +3404.6% |
| Revaluation surpluses | 12 | €112,263 | €112,263 | = | 0.0% |
| Reserves | 13 | €630,312 | €703,087 | +€72,775 | +11.5% |
| Tax-exempt reserves | 132 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €628,453 | €701,227 | +€72,775 | +11.6% |
| Provisions and deferred taxes | 16 | €117,572 | €104,508 | -€13,064 | -11.1% |
| Deferred taxes | 168 | €117,572 | €104,508 | -€13,064 | -11.1% |
| Amounts payable | 17/49 | €1,273,917 | €1,002,060 | -€271,857 | -21.3% |
| Amounts payable after more than one year | 17 | €973,762 | €746,480 | -€227,282 | -23.3% |
| Financial debts | 170/4 | €973,762 | €746,480 | -€227,282 | -23.3% |
| Amounts payable within one year | 42/48 | €300,156 | €255,581 | -€44,575 | -14.9% |
| Current portion of amounts payable after more than one year | 42 | €237,804 | €235,484 | -€2,320 | -1.0% |
| Trade debts | 44 | €2,214 | €8,685 | +€6,471 | +292.3% |
| Suppliers | 440/4 | €2,214 | €8,685 | +€6,471 | +292.3% |
| Taxes, remuneration and social security | 45 | €60,138 | €11,412 | -€48,725 | -81.0% |
| Taxes | 450/3 | €60,138 | €11,412 | -€48,725 | -81.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199,627 | €199,627 | = | 0.0% |
| Other operating charges | 640/8 | €31,141 | €165,758 | +€134,617 | +432.3% |
| Gross operating margin | 9900 | €391,121 | €476,433 | +€85,312 | +21.8% |
| Operating profit (loss) | 9901 | €160,353 | €111,049 | -€49,305 | -30.7% |
| Financial income | 75/76B | €956 | €1,004 | +€48 | +5.0% |
| Recurring financial income | 75 | €956 | €1,004 | +€48 | +5.0% |
| Financial charges | 65/66B | €33,768 | €27,998 | -€5,771 | -17.1% |
| Recurring financial charges | 65 | €33,768 | €27,998 | -€5,771 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €127,541 | €84,054 | -€43,486 | -34.1% |
| Transfer from deferred taxes | 780 | €13,064 | €13,064 | = | 0.0% |
| Income taxes | 67/77 | €37,315 | €24,343 | -€12,971 | -34.8% |
| Profit (loss) for the period | 9904 | €103,290 | €72,775 | -€30,515 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €103,290 | €72,775 | -€30,515 | -29.5% |
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 3 October 2026 via checked.be.