Immo-Alfred: 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-Alfred
Largest movements
- Tangible fixed assets +€2.2m
up €2.2m (+204.2%), from €1.1m to €3.3m
- Cash +€115,343
up €115,343 (+2384.4%), from €4,837 to €120,181
mainly Debts after one year (+€1.6m) and Other debts (+€824,635)
- Receivables within one year +€90,804
up €90,804 (+953.4%), from €9,524 to €100,327
of which Trade receivables: +€57,861
- Intangible fixed assets -€46,683
down €46,683 (-33.1%), from €141,162 to €94,479
- Debts after one year +€1.6m
up €1.6m (+176.0%), from €935,000 to €2.6m
- Other debts +€824,635
up €824,635 (+318.2%), from €259,149 to €1.1m
- Profit (loss) carried forward -€309,451
down €309,451 (-417.7%), from -€74,093 to -€383,544
- Trade debts +€140,240
up €140,240 (+257.4%), from €54,490 to €194,730
- Current portion of long-term debt +€95,915
new in 2025: €95,915
- Depreciation +€157,951
up €157,951 (+292.7%), from €53,966 to €211,917
- Financial charges +€67,600
up €67,600 (+581.8%), from €11,619 to €79,219
- Gross operating margin -€9,675
down €9,675 (-113.7%), from -€8,508 to -€18,183
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 | €1,234,546 | €3,632,797 | +€2.4m | +194.3% |
| Fixed assets | 21/28 | €1,220,185 | €3,387,523 | +€2.2m | +177.6% |
| Intangible fixed assets | 21 | €141,162 | €94,479 | -€46,683 | -33.1% |
| Tangible fixed assets | 22/27 | €1,079,022 | €3,282,544 | +€2.2m | +204.2% |
| Land and buildings | 22 | €1,079,022 | €3,282,544 | +€2.2m | +204.2% |
| Financial fixed assets | 28 | - | €10,500 | +€10,500 | |
| Current assets | 29/58 | €14,361 | €245,274 | +€230,913 | +1607.9% |
| Stocks and contracts in progress | 3 | - | €17,000 | +€17,000 | |
| Stocks | 30/36 | - | €17,000 | +€17,000 | |
| Amounts receivable within one year | 40/41 | €9,524 | €100,327 | +€90,804 | +953.4% |
| Trade receivables | 40 | - | €57,861 | +€57,861 | |
| Other amounts receivable | 41 | €9,524 | €42,466 | +€32,943 | +345.9% |
| Cash at bank and in hand | 54/58 | €4,837 | €120,181 | +€115,343 | +2384.4% |
| Deferred charges and accrued income | 490/1 | - | €7,766 | +€7,766 | |
| Total equity and liabilities | 10/49 | €1,234,546 | €3,632,797 | +€2.4m | +194.3% |
| Equity | 10/15 | -€14,093 | -€323,544 | -€309,451 | -2195.8% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,093 | -€383,544 | -€309,451 | -417.7% |
| Amounts payable | 17/49 | €1,248,639 | €3,956,341 | +€2.7m | +216.9% |
| Amounts payable after more than one year | 17 | €935,000 | €2,580,730 | +€1.6m | +176.0% |
| Financial debts | 170/4 | €935,000 | €2,580,730 | +€1.6m | +176.0% |
| Amounts payable within one year | 42/48 | €313,639 | €1,375,611 | +€1.1m | +338.6% |
| Current portion of amounts payable after more than one year | 42 | - | €95,915 | +€95,915 | |
| Trade debts | 44 | €54,490 | €194,730 | +€140,240 | +257.4% |
| Suppliers | 440/4 | €54,490 | €194,730 | +€140,240 | +257.4% |
| Advances received on contracts in progress | 46 | - | €1,050 | +€1,050 | |
| Taxes, remuneration and social security | 45 | - | €132 | +€132 | |
| Taxes | 450/3 | - | €132 | +€132 | |
| Other amounts payable | 47/48 | €259,149 | €1,083,783 | +€824,635 | +318.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,966 | €211,917 | +€157,951 | +292.7% |
| Gross operating margin | 9900 | -€8,508 | -€18,183 | -€9,675 | -113.7% |
| Operating profit (loss) | 9901 | -€62,473 | -€230,100 | -€167,627 | -268.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €11,619 | €79,219 | +€67,600 | +581.8% |
| Recurring financial charges | 65 | €11,619 | €79,219 | +€67,600 | +581.8% |
| Profit (loss) for the period before taxes | 9903 | -€74,093 | -€309,319 | -€235,226 | -317.5% |
| Income taxes | 67/77 | - | €132 | +€132 | |
| Profit (loss) for the period | 9904 | -€74,093 | -€309,451 | -€235,358 | -317.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€74,093 | -€309,451 | -€235,358 | -317.7% |
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 12 October 2026 via checked.be.