IMMO A.K.D.: 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.K.D.
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+51.4%), from €2.4m to €3.6m
of which Land and buildings: +€1.0m
- Receivables within one year +€109,758
up €109,758 (+49.4%), from €222,266 to €332,024
of which Trade receivables: +€323,527
- Cash -€83,945
down €83,945 (-60.9%), from €137,841 to €53,896
mainly Investment in fixed assets (net) (-€1.4m) and Receivables within one year (-€109,758)
- Debts after one year +€963,244
up €963,244 (+50.0%), from €1.9m to €2.9m
- Trade debts +€178,315
up €178,315 (+125%), from €142,534 to €320,848
- Current portion of long-term debt +€101,707
up €101,707 (+171%), from €59,487 to €161,194
- Profit (loss) carried forward +€41,909
up €41,909 (+13.9%), from €301,431 to €343,340
- Gross operating margin +€40,672
up €40,672 (+15.6%), from €261,333 to €302,005
- Depreciation +€36,043
up €36,043 (+55.2%), from €65,267 to €101,310
- Financial charges +€27,766
up €27,766 (+39.0%), from €71,219 to €98,985
- Financial income -€10,092
down €10,092 (-45.2%), from €22,333 to €12,241
of which Financial income: -€17,592
- Taxes -€9,710
down €9,710 (-36.0%), from €26,969 to €17,259
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 | €2,764,857 | €4,040,131 | +€1.3m | +46.1% |
| Formation expenses | 20 | - | €1,700 | +€1,700 | |
| Fixed assets | 21/28 | €2,376,916 | €3,629,056 | +€1.3m | +52.7% |
| Tangible fixed assets | 22/27 | €2,376,916 | €3,599,056 | +€1.2m | +51.4% |
| Land and buildings | 22 | €1,438,825 | €2,442,600 | +€1.0m | +69.8% |
| Plant, machinery and equipment | 23 | €6,210 | €4,125 | -€2,084 | -33.6% |
| Assets under construction and advance payments | 27 | €931,881 | €1,152,330 | +€220,449 | +23.7% |
| Financial fixed assets | 28 | - | €30,000 | +€30,000 | |
| Current assets | 29/58 | €387,941 | €409,376 | +€21,435 | +5.5% |
| Stocks and contracts in progress | 3 | €24,022 | €22,165 | -€1,857 | -7.7% |
| Stocks | 30/36 | €24,022 | €22,165 | -€1,857 | -7.7% |
| Amounts receivable within one year | 40/41 | €222,266 | €332,024 | +€109,758 | +49.4% |
| Trade receivables | 40 | €7,790 | €331,317 | +€323,527 | +4,153% |
| Other amounts receivable | 41 | €214,476 | €706 | -€213,770 | -99.7% |
| Cash at bank and in hand | 54/58 | €137,841 | €53,896 | -€83,945 | -60.9% |
| Deferred charges and accrued income | 490/1 | €3,813 | €1,292 | -€2,521 | -66.1% |
| Total equity and liabilities | 10/49 | €2,764,857 | €4,040,131 | +€1.3m | +46.1% |
| Equity | 10/15 | €454,033 | €495,942 | +€41,909 | +9.2% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | - | -€150,000 | |
| Issued capital | 100 | €150,000 | - | -€150,000 | |
| Reserves | 13 | €2,601 | €2,601 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,601 | - | -€2,601 | |
| Reserves not available under the articles | 1311 | €2,601 | - | -€2,601 | |
| Distributable reserves | 133 | - | €2,601 | +€2,601 | |
| Profit (loss) carried forward | 14 | €301,431 | €343,340 | +€41,909 | +13.9% |
| Amounts payable | 17/49 | €2,310,824 | €3,544,190 | +€1.2m | +53.4% |
| Amounts payable after more than one year | 17 | €1,925,559 | €2,888,803 | +€963,244 | +50.0% |
| Financial debts | 170/4 | €1,925,559 | €2,888,803 | +€963,244 | +50.0% |
| Amounts payable within one year | 42/48 | €385,265 | €655,387 | +€270,121 | +70.1% |
| Current portion of amounts payable after more than one year | 42 | €59,487 | €161,194 | +€101,707 | +171% |
| Trade debts | 44 | €142,534 | €320,848 | +€178,315 | +125% |
| Suppliers | 440/4 | €142,534 | €320,848 | +€178,315 | +125% |
| Taxes, remuneration and social security | 45 | €31,734 | €33,439 | +€1,705 | +5.4% |
| Taxes | 450/3 | €28,864 | €30,386 | +€1,522 | +5.3% |
| Remuneration and social security | 454/9 | €2,870 | €3,053 | +€182 | +6.4% |
| Other amounts payable | 47/48 | €151,511 | €139,905 | -€11,605 | -7.7% |
| Remuneration, social security and pensions | 62 | €30,428 | €36,886 | +€6,458 | +21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,267 | €101,310 | +€36,043 | +55.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,879 | €1,857 | -€22 | -1.2% |
| Other operating charges | 640/8 | €11,222 | €16,040 | +€4,818 | +42.9% |
| Gross operating margin | 9900 | €261,333 | €302,005 | +€40,672 | +15.6% |
| Operating profit (loss) | 9901 | €152,538 | €145,912 | -€6,625 | -4.3% |
| Financial income | 75/76B | €22,333 | €12,241 | -€10,092 | -45.2% |
| Recurring financial income | 75 | €22,333 | €4,741 | -€17,592 | -78.8% |
| Non-recurring financial income | 76B | - | €7,500 | +€7,500 | |
| Financial charges | 65/66B | €71,219 | €98,985 | +€27,766 | +39.0% |
| Recurring financial charges | 65 | €71,219 | €98,985 | +€27,766 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | €103,652 | €59,168 | -€44,484 | -42.9% |
| Income taxes | 67/77 | €26,969 | €17,259 | -€9,710 | -36.0% |
| Profit (loss) for the period | 9904 | €76,683 | €41,909 | -€34,774 | -45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €76,683 | €41,909 | -€34,774 | -45.3% |
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 17 October 2026 via checked.be.