IMMO AJP: 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 AJP
Largest movements
- Tangible fixed assets +€23,240
up €23,240 (+7.4%), from €316,169 to €339,409
of which Plant, machinery and equipment: +€33,788
- Receivables within one year -€7,832
no longer reported in 2025 (was €7,832)
- Reserves +€14,976
up €14,976 (+61.0%), from €24,541 to €39,516
- Other debts +€10,252
up €10,252 (+2347.3%), from €437 to €10,689
- Debts after one year -€9,781
down €9,781 (-4.7%), from €208,875 to €199,095
- Gross operating margin +€8,789
up €8,789 (+24.1%), from €36,537 to €45,326
- Taxes +€2,706
up €2,706 (+60.4%), from €4,481 to €7,187
- Depreciation +€978
up €978 (+6.3%), from €15,442 to €16,420
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 | €327,242 | €342,568 | +€15,326 | +4.7% |
| Fixed assets | 21/28 | €316,169 | €339,409 | +€23,240 | +7.4% |
| Tangible fixed assets | 22/27 | €316,169 | €339,409 | +€23,240 | +7.4% |
| Land and buildings | 22 | €294,597 | €284,050 | -€10,547 | -3.6% |
| Plant, machinery and equipment | 23 | €21,571 | €55,359 | +€33,788 | +156.6% |
| Current assets | 29/58 | €11,074 | €3,159 | -€7,915 | -71.5% |
| Amounts receivable within one year | 40/41 | €7,832 | - | -€7,832 | |
| Other amounts receivable | 41 | €7,832 | - | -€7,832 | |
| Cash at bank and in hand | 54/58 | €2,173 | €2,694 | +€521 | +24.0% |
| Deferred charges and accrued income | 490/1 | €1,069 | €465 | -€604 | -56.5% |
| Total equity and liabilities | 10/49 | €327,242 | €342,568 | +€15,326 | +4.7% |
| Equity | 10/15 | €91,654 | €106,629 | +€14,976 | +16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,541 | €39,516 | +€14,976 | +61.0% |
| Distributable reserves | 133 | €24,541 | €39,516 | +€14,976 | +61.0% |
| Profit (loss) carried forward | 14 | €48,513 | €48,513 | = | 0.0% |
| Amounts payable | 17/49 | €235,589 | €235,939 | +€350 | +0.1% |
| Amounts payable after more than one year | 17 | €208,875 | €199,095 | -€9,781 | -4.7% |
| Financial debts | 170/4 | €208,875 | €199,095 | -€9,781 | -4.7% |
| Amounts payable within one year | 42/48 | €25,146 | €35,277 | +€10,130 | +40.3% |
| Current portion of amounts payable after more than one year | 42 | €16,217 | €16,619 | +€402 | +2.5% |
| Trade debts | 44 | €2,255 | €2,737 | +€482 | +21.4% |
| Suppliers | 440/4 | €2,255 | €2,737 | +€482 | +21.4% |
| Taxes, remuneration and social security | 45 | €6,238 | €5,232 | -€1,006 | -16.1% |
| Taxes | 450/3 | €6,238 | €5,232 | -€1,006 | -16.1% |
| Other amounts payable | 47/48 | €437 | €10,689 | +€10,252 | +2347.3% |
| Accrued charges and deferred income | 492/3 | €1,567 | €1,567 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,442 | €16,420 | +€978 | +6.3% |
| Other operating charges | 640/8 | €3,941 | €4,066 | +€125 | +3.2% |
| Gross operating margin | 9900 | €36,537 | €45,326 | +€8,789 | +24.1% |
| Operating profit (loss) | 9901 | €17,154 | €24,841 | +€7,686 | +44.8% |
| Financial income | 75/76B | €1 | €1 | -€0 | -16.5% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -16.5% |
| Financial charges | 65/66B | €3,071 | €2,678 | -€392 | -12.8% |
| Recurring financial charges | 65 | €3,071 | €2,678 | -€392 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €14,085 | €22,163 | +€8,078 | +57.4% |
| Income taxes | 67/77 | €4,481 | €7,187 | +€2,706 | +60.4% |
| Profit (loss) for the period | 9904 | €9,603 | €14,976 | +€5,372 | +55.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,603 | €14,976 | +€5,372 | +55.9% |
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 8 October 2026 via checked.be.