IMMO ALTENA: 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 ALTENA
Largest movements
- Tangible fixed assets -€122,662
down €122,662 (-4.7%), from €2.6m to €2.5m
of which Land and buildings: -€81,787
- Current investments +€55,775
new in 2025: €55,775
- Receivables within one year +€49,861
up €49,861 (+22.2%), from €225,076 to €274,936
- Cash -€47,793
down €47,793 (-37.4%), from €127,707 to €79,914
mainly Current investments (-€55,775) and Debts after one year (-€55,736)
- Debts after one year -€55,736
down €55,736 (-5.6%), from €1.0m to €946,217
- Gross operating margin +€69,096
up €69,096 (+47.1%), from €146,847 to €215,944
- Financial charges +€19,928
up €19,928 (+97.8%), from €20,380 to €40,307
- Depreciation -€14,212
down €14,212 (-9.0%), from €158,741 to €144,529
- Other operating charges +€13,891
up €13,891 (+35.6%), from €38,974 to €52,866
- Taxes +€6,140
up €6,140 (+1697.7%), from €362 to €6,502
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 | €2,964,030 | €2,891,698 | -€72,331 | -2.4% |
| Fixed assets | 21/28 | €2,589,485 | €2,466,822 | -€122,662 | -4.7% |
| Tangible fixed assets | 22/27 | €2,589,485 | €2,466,822 | -€122,662 | -4.7% |
| Land and buildings | 22 | €2,112,353 | €2,030,566 | -€81,787 | -3.9% |
| Plant, machinery and equipment | 23 | €463,363 | €427,551 | -€35,812 | -7.7% |
| Furniture and vehicles | 24 | €13,769 | €8,706 | -€5,063 | -36.8% |
| Current assets | 29/58 | €374,545 | €424,876 | +€50,331 | +13.4% |
| Amounts receivable within one year | 40/41 | €225,076 | €274,936 | +€49,861 | +22.2% |
| Other amounts receivable | 41 | €225,076 | €274,936 | +€49,861 | +22.2% |
| Current investments | 50/53 | - | €55,775 | +€55,775 | |
| Cash at bank and in hand | 54/58 | €127,707 | €79,914 | -€47,793 | -37.4% |
| Deferred charges and accrued income | 490/1 | €21,762 | €14,251 | -€7,511 | -34.5% |
| Total equity and liabilities | 10/49 | €2,964,030 | €2,891,698 | -€72,331 | -2.4% |
| Equity | 10/15 | €1,667,611 | €1,653,817 | -€13,795 | -0.8% |
| Contributions | 10/11 | €1,011,546 | €1,011,546 | = | 0.0% |
| Reserves | 13 | €702,746 | €680,276 | -€22,470 | -3.2% |
| Tax-exempt reserves | 132 | €662,882 | €640,412 | -€22,470 | -3.4% |
| Distributable reserves | 133 | €39,864 | €39,864 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,681 | -€38,005 | +€8,675 | +18.6% |
| Provisions and deferred taxes | 16 | €220,961 | €213,471 | -€7,490 | -3.4% |
| Deferred taxes | 168 | €220,961 | €213,471 | -€7,490 | -3.4% |
| Amounts payable | 17/49 | €1,075,458 | €1,024,411 | -€51,046 | -4.7% |
| Amounts payable after more than one year | 17 | €1,001,954 | €946,217 | -€55,736 | -5.6% |
| Financial debts | 170/4 | €1,001,954 | €946,217 | -€55,736 | -5.6% |
| Amounts payable within one year | 42/48 | €72,979 | €77,134 | +€4,155 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €53,665 | €55,736 | +€2,071 | +3.9% |
| Trade debts | 44 | €3,289 | €4,640 | +€1,351 | +41.1% |
| Suppliers | 440/4 | €3,289 | €4,640 | +€1,351 | +41.1% |
| Taxes, remuneration and social security | 45 | €1,137 | €5,108 | +€3,971 | +349.2% |
| Taxes | 450/3 | €1,137 | €5,108 | +€3,971 | +349.2% |
| Other amounts payable | 47/48 | €14,888 | €11,651 | -€3,237 | -21.7% |
| Accrued charges and deferred income | 492/3 | €525 | €1,060 | +€534 | +101.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €158,741 | €144,529 | -€14,212 | -9.0% |
| Other operating charges | 640/8 | €38,974 | €52,866 | +€13,891 | +35.6% |
| Gross operating margin | 9900 | €146,847 | €215,944 | +€69,096 | +47.1% |
| Operating profit (loss) | 9901 | -€50,868 | €18,549 | +€69,417 | |
| Financial income | 75/76B | €9,964 | €6,975 | -€2,988 | -30.0% |
| Recurring financial income | 75 | €9,964 | €6,975 | -€2,988 | -30.0% |
| Financial charges | 65/66B | €20,380 | €40,307 | +€19,928 | +97.8% |
| Recurring financial charges | 65 | €20,380 | €40,307 | +€19,928 | +97.8% |
| Profit (loss) for the period before taxes | 9903 | -€61,284 | -€14,783 | +€46,501 | +75.9% |
| Transfer from deferred taxes | 780 | €3,741 | €7,490 | +€3,749 | +100.2% |
| Income taxes | 67/77 | €362 | €6,502 | +€6,140 | +1697.7% |
| Profit (loss) for the period | 9904 | -€57,905 | -€13,795 | +€44,110 | +76.2% |
| Transfer from tax-exempt reserves | 789 | €11,224 | €22,470 | +€11,246 | +100.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,681 | €8,675 | +€55,356 |
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.