IMMO ACH: 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 ACH
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€13,580
2024 · €1,932+€11,648
Equity
€1.4m
2024 · €1.4m+€13,580
Cash
€11,062
2024 · €7,827+€3,235
Balance sheet total
€3.9m
2024 · €3.9m-€45,208
Largest movements
Assets
- Tangible fixed assets -€48,417
down €48,417 (-4.4%), from €1.1m to €1.1m
of which Land and buildings: -€50,843
Equity and liabilities
- Debts after one year -€94,833
down €94,833 (-3.9%), from €2.4m to €2.3m
Income statement
- Gross operating margin +€48,681
up €48,681 (+37.4%), from €130,085 to €178,766
- Financial charges +€27,764
up €27,764 (+44.5%), from €62,404 to €90,168
- Financial income -€4,770
down €4,770 (-100.0%), from €4,770 to €0
- Taxes +€4,467
up €4,467 (+332.3%), from €1,344 to €5,811
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
€1,932
Gross operating margin
+€48,681
Depreciation
-€13
Other operating charges
-€19
Financial income
-€4,770
Financial charges
-€27,764
Taxes
-€4,467
Result 2025
€13,580
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.
From operations
+€98,344
Investment
-€3,657
Financing
-€91,452
Cash 2024
€7,827
From operations (derived)
+€98,344
Net result for the year
+€13,580
Depreciation
+€52,074
Receivables within one year
+€26
Trade debts
+€6,068
Tax, wage and social debts
+€5,811
Other debts
+€18,395
Accrued charges and deferred income
+€2,388
Investment (derived)
-€3,657
Investment in fixed assets (net)
-€3,657
Financing
-€91,452
Debts after one year
-€94,833
Current portion of long-term debt
+€3,382
Cash 2025
€11,062
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,912,686 | €3,867,477 | -€45,208 | -1.2% |
| Fixed assets | 21/28 | €3,896,160 | €3,847,742 | -€48,417 | -1.2% |
| Tangible fixed assets | 22/27 | €1,099,535 | €1,051,117 | -€48,417 | -4.4% |
| Land and buildings | 22 | €1,098,323 | €1,047,479 | -€50,843 | -4.6% |
| Plant, machinery and equipment | 23 | €1,212 | €3,638 | +€2,426 | +200.1% |
| Financial fixed assets | 28 | €2,796,625 | €2,796,625 | = | 0.0% |
| Current assets | 29/58 | €16,526 | €19,735 | +€3,209 | +19.4% |
| Amounts receivable within one year | 40/41 | €8,700 | €8,673 | -€26 | -0.3% |
| Trade receivables | 40 | €1,613 | €1,586 | -€26 | -1.6% |
| Other amounts receivable | 41 | €7,087 | €7,087 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,827 | €11,062 | +€3,235 | +41.3% |
| Total equity and liabilities | 10/49 | €3,912,686 | €3,867,477 | -€45,208 | -1.2% |
| Equity | 10/15 | €1,391,412 | €1,404,992 | +€13,580 | +1.0% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €635,000 | €635,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €75,000 | €75,000 | = | 0.0% |
| Legal reserve | 130 | €75,000 | €75,000 | = | 0.0% |
| Distributable reserves | 133 | €560,000 | €560,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,412 | €19,992 | +€13,580 | +211.8% |
| Amounts payable | 17/49 | €2,521,274 | €2,462,485 | -€58,789 | -2.3% |
| Amounts payable after more than one year | 17 | €2,424,828 | €2,329,994 | -€94,833 | -3.9% |
| Financial debts | 170/4 | €2,424,828 | €2,329,994 | -€94,833 | -3.9% |
| Amounts payable within one year | 42/48 | €94,346 | €128,003 | +€33,657 | +35.7% |
| Current portion of amounts payable after more than one year | 42 | €91,452 | €94,833 | +€3,382 | +3.7% |
| Trade debts | 44 | €2,895 | €8,963 | +€6,068 | +209.7% |
| Suppliers | 440/4 | €2,895 | €8,963 | +€6,068 | +209.7% |
| Taxes, remuneration and social security | 45 | - | €5,811 | +€5,811 | |
| Taxes | 450/3 | - | €5,811 | +€5,811 | |
| Other amounts payable | 47/48 | - | €18,395 | +€18,395 | |
| Accrued charges and deferred income | 492/3 | €2,100 | €4,488 | +€2,388 | +113.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,061 | €52,074 | +€13 | 0.0% |
| Other operating charges | 640/8 | €17,113 | €17,132 | +€19 | +0.1% |
| Gross operating margin | 9900 | €130,085 | €178,766 | +€48,681 | +37.4% |
| Operating profit (loss) | 9901 | €60,910 | €109,559 | +€48,649 | +79.9% |
| Financial income | 75/76B | €4,770 | €0 | -€4,770 | -100.0% |
| Recurring financial income | 75 | €4,770 | €0 | -€4,770 | -100.0% |
| Financial charges | 65/66B | €62,404 | €90,168 | +€27,764 | +44.5% |
| Recurring financial charges | 65 | €62,404 | €90,168 | +€27,764 | +44.5% |
| Profit (loss) for the period before taxes | 9903 | €3,276 | €19,391 | +€16,115 | +491.9% |
| Income taxes | 67/77 | €1,344 | €5,811 | +€4,467 | +332.3% |
| Profit (loss) for the period | 9904 | €1,932 | €13,580 | +€11,648 | +602.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,932 | €13,580 | +€11,648 | +602.8% |
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 10 October 2026 via checked.be.