IMMO A.V.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.
What changed
IMMO A.V.J.
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€177,691
2023 · €126,347+€51,344
Equity
€3.6m
2023 · €3.4m+€177,691
Cash
€164,599
2023 · €200,843-€36,244
Balance sheet total
€13.9m
2023 · €5.9m+€8.0m
Largest movements
Assets
- Tangible fixed assets +€7.0m
up €7.0m (+130%), from €5.4m to €12.3m
of which Land and buildings: +€7.0m
- Formation expenses +€934,289
new in 2024: €934,289
Equity and liabilities
- Debts after one year +€8.1m
up €8.1m (+833%), from €971,981 to €9.1m
of which Financial debts: +€8.1m
- Short-term financial debts -€210,000
down €210,000 (-100%), from €210,000 to €0
of which Other loans: -€210,000
- Profit (loss) carried forward +€183,232
up €183,232 (+8.8%), from -€2.1m to -€1.9m
Income statement
- Turnover -€1.3m
no longer reported in 2024 (was €1.3m)
- Purchases and services -€486,800
no longer reported in 2024 (was €486,800)
- Gross operating margin +€340,120
up €340,120 (+38.5%), from €882,751 to €1.2m
- Financial charges +€243,255
up €243,255 (+398%), from €61,069 to €304,324
- Depreciation +€100,300
up €100,300 (+25.5%), from €393,294 to €493,593
From the 2023 result to the 2024 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 2023
€126,347
Gross operating margin
+€340,120
Staff costs
+€14,589
Depreciation
-€100,300
Write-downs
-€8,233
Provisions
+€35,000
Other operating charges
-€53,802
Other operating items
-€40,600
Financial income
+€59,294
Financial charges
-€243,255
Taxes
+€48,532
Result 2024
€177,691
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€546,723
Investment
-€8.4m
Financing
+€7.8m
Cash 2023
€200,843
From operations (derived)
+€546,723
Net result for the year
+€177,691
Depreciation
+€493,593
Receivables within one year
-€121,867
Deferred charges and accrued income
-€43,715
Smaller working-capital items
-€9,961
Trade debts
+€63,280
Tax, wage and social debts
-€56,175
Other debts
+€43,876
Investment (derived)
-€8.4m
Investment in fixed assets (net)
-€8.4m
Financing
+€7.8m
Debts after one year
+€8.1m
Current portion of long-term debt
-€74,386
Short-term financial debts
-€210,000
Cash 2024
€164,599
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,891,606 | €13,923,274 | +€8.0m | +136% |
| Formation expenses | 20 | - | €934,289 | +€934,289 | |
| Fixed assets | 21/28 | €5,369,205 | €12,337,245 | +€7.0m | +130% |
| Tangible fixed assets | 22/27 | €5,367,789 | €12,335,829 | +€7.0m | +130% |
| Land and buildings | 22 | €5,340,755 | €12,312,951 | +€7.0m | +131% |
| Plant, machinery and equipment | 23 | €17,456 | €14,985 | -€2,470 | -14.2% |
| Furniture and vehicles | 24 | €9,578 | €7,892 | -€1,686 | -17.6% |
| Financial fixed assets | 28 | €1,416 | €1,416 | = | 0.0% |
| Current assets | 29/58 | €522,402 | €651,741 | +€129,339 | +24.8% |
| Amounts receivable within one year | 40/41 | €312,798 | €434,665 | +€121,867 | +39.0% |
| Trade receivables | 40 | €311,597 | €359,466 | +€47,869 | +15.4% |
| Other amounts receivable | 41 | €1,202 | €75,200 | +€73,998 | +6,158% |
| Cash at bank and in hand | 54/58 | €200,843 | €164,599 | -€36,244 | -18.0% |
| Deferred charges and accrued income | 490/1 | €8,760 | €52,476 | +€43,715 | +499% |
| Total equity and liabilities | 10/49 | €5,891,606 | €13,923,274 | +€8.0m | +136% |
| Equity | 10/15 | €3,373,268 | €3,550,959 | +€177,691 | +5.3% |
| Contributions | 10/11 | €4,700,000 | €4,700,000 | = | 0.0% |
| Capital | 10 | €4,700,000 | €4,700,000 | = | 0.0% |
| Issued capital | 100 | €4,700,000 | €4,700,000 | = | 0.0% |
| Reserves | 13 | €761,453 | €755,912 | -€5,541 | -0.7% |
| Non-distributable reserves | 130/1 | €111,233 | €111,233 | = | 0.0% |
| Legal reserve | 130 | €111,233 | €111,233 | = | 0.0% |
| Tax-exempt reserves | 132 | €650,220 | €626,402 | -€23,817 | -3.7% |
| Distributable reserves | 133 | - | €18,276 | +€18,276 | |
| Profit (loss) carried forward | 14 | -€2,088,185 | -€1,904,953 | +€183,232 | +8.8% |
| Provisions and deferred taxes | 16 | €256,810 | €259,082 | +€2,273 | +0.9% |
| Provisions for liabilities and charges | 160/5 | €40,000 | €45,000 | +€5,000 | +12.5% |
| Other liabilities and charges | 164/5 | €40,000 | €45,000 | +€5,000 | +12.5% |
| Deferred taxes | 168 | €216,810 | €214,082 | -€2,727 | -1.3% |
| Amounts payable | 17/49 | €2,261,529 | €10,113,232 | +€7.9m | +347% |
| Amounts payable after more than one year | 17 | €971,981 | €9,069,322 | +€8.1m | +833% |
| Financial debts | 170/4 | €947,069 | €9,043,590 | +€8.1m | +855% |
| Other amounts payable | 178/9 | €24,911 | €25,731 | +€820 | +3.3% |
| Amounts payable within one year | 42/48 | €1,162,992 | €929,589 | -€233,404 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €503,479 | €429,093 | -€74,386 | -14.8% |
| Financial debts | 43 | €210,000 | €0 | -€210,000 | -100% |
| Credit institutions | 430/8 | €0 | €0 | = | |
| Other loans | 439 | €210,000 | - | -€210,000 | |
| Trade debts | 44 | €62,917 | €126,197 | +€63,280 | +101% |
| Suppliers | 440/4 | €62,917 | €126,197 | +€63,280 | +101% |
| Taxes, remuneration and social security | 45 | €70,033 | €13,858 | -€56,175 | -80.2% |
| Taxes | 450/3 | €48,532 | €0 | -€48,532 | -100% |
| Remuneration and social security | 454/9 | €21,501 | €13,858 | -€7,643 | -35.5% |
| Other amounts payable | 47/48 | €316,564 | €360,440 | +€43,876 | +13.9% |
| Accrued charges and deferred income | 492/3 | €126,556 | €114,322 | -€12,234 | -9.7% |
| Turnover | 70 | €1,338,262 | - | -€1.3m | |
| Non-recurring operating income | 76A | - | €10,185 | +€10,185 | |
| Goods, raw materials, services and sundry goods | 60/61 | €486,800 | - | -€486,800 | |
| Remuneration, social security and pensions | 62 | €133,673 | €119,084 | -€14,589 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €393,294 | €493,593 | +€100,300 | +25.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€8,063 | €170 | +€8,233 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €40,000 | €5,000 | -€35,000 | -87.5% |
| Other operating charges | 640/8 | €90,662 | €144,465 | +€53,802 | +59.3% |
| Non-recurring operating charges | 66A | - | €40,600 | +€40,600 | |
| Gross operating margin | 9900 | €882,751 | €1,222,871 | +€340,120 | +38.5% |
| Operating profit (loss) | 9901 | €233,186 | €419,959 | +€186,773 | +80.1% |
| Financial income | 75/76B | €35 | €59,329 | +€59,294 | +167,166% |
| Recurring financial income | 75 | €35 | €56,125 | +€56,089 | +158,132% |
| Non-recurring financial income | 76B | - | €3,205 | +€3,205 | |
| Financial charges | 65/66B | €61,069 | €304,324 | +€243,255 | +398% |
| Recurring financial charges | 65 | €61,069 | €304,324 | +€243,255 | +398% |
| Profit (loss) for the period before taxes | 9903 | €172,152 | €174,964 | +€2,812 | +1.6% |
| Transfer from deferred taxes | 780 | €2,727 | €2,727 | -€0 | 0.0% |
| Income taxes | 67/77 | €48,532 | €0 | -€48,532 | -100% |
| Profit (loss) for the period | 9904 | €126,347 | €177,691 | +€51,344 | +40.6% |
| Transfer from tax-exempt reserves | 789 | €5,541 | €5,541 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €131,888 | €183,232 | +€51,344 | +38.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.