IMMO ANS: what changed
IMMO ANS
Largest movements
- Stocks and contracts -€192,500
no longer reported in 2025 (was €192,500)
- Cash +€180,651
up €180,651 (+177%), from €101,941 to €282,592
mainly Stocks and contracts (+€192,500) and Depreciation (+€44,802)
- Tangible fixed assets -€40,763
down €40,763 (-17.7%), from €229,872 to €189,109
of which Plant, machinery and equipment: -€34,134
- Receivables within one year -€15,924
down €15,924 (-90.0%), from €17,687 to €1,763
- Reserves -€140,234
down €140,234 (-74.2%), from €189,094 to €48,860
of which Tax-exempt reserves: -€140,234
- Profit (loss) carried forward +€76,796
up €76,796 (+402%), from €19,088 to €95,884
- Provisions -€40,067
no longer reported in 2025 (was €40,067)
- Tax, wage and social debts +€29,075
up €29,075 (+1,014%), from €2,868 to €31,943
- Other debts +€11,684
up €11,684 (+6.5%), from €179,151 to €190,835
- Taxes +€28,173
new in 2025: €28,173
- Gross operating margin -€26,249
down €26,249, from €15,255 to -€10,994
- Financial charges +€2,769
up €2,769 (+22.9%), from €12,118 to €14,887
- Depreciation +€1,654
up €1,654 (+3.8%), from €43,148 to €44,802
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €555,935 | €482,508 | -€73,427 | -13.2% |
| Fixed assets | 21/28 | €242,088 | €197,286 | -€44,802 | -18.5% |
| Intangible fixed assets | 21 | €12,116 | €8,077 | -€4,039 | -33.3% |
| Tangible fixed assets | 22/27 | €229,872 | €189,109 | -€40,763 | -17.7% |
| Land and buildings | 22 | €81,948 | €81,292 | -€656 | -0.8% |
| Plant, machinery and equipment | 23 | €134,135 | €100,001 | -€34,134 | -25.4% |
| Furniture and vehicles | 24 | €13,789 | €7,816 | -€5,973 | -43.3% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €313,847 | €285,222 | -€28,625 | -9.1% |
| Stocks and contracts in progress | 3 | €192,500 | - | -€192,500 | |
| Stocks | 30/36 | €192,500 | - | -€192,500 | |
| Amounts receivable within one year | 40/41 | €17,687 | €1,763 | -€15,924 | -90.0% |
| Other amounts receivable | 41 | €17,687 | €1,763 | -€15,924 | -90.0% |
| Cash at bank and in hand | 54/58 | €101,941 | €282,592 | +€180,651 | +177% |
| Deferred charges and accrued income | 490/1 | €1,719 | €867 | -€852 | -49.6% |
| Total equity and liabilities | 10/49 | €555,935 | €482,508 | -€73,427 | -13.2% |
| Equity | 10/15 | €226,782 | €163,344 | -€63,438 | -28.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €189,094 | €48,860 | -€140,234 | -74.2% |
| Tax-exempt reserves | 132 | €140,234 | - | -€140,234 | |
| Distributable reserves | 133 | €48,860 | €48,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,088 | €95,884 | +€76,796 | +402% |
| Provisions and deferred taxes | 16 | €40,067 | - | -€40,067 | |
| Deferred taxes | 168 | €40,067 | - | -€40,067 | |
| Amounts payable | 17/49 | €289,086 | €319,164 | +€30,078 | +10.4% |
| Amounts payable after more than one year | 17 | €95,585 | €84,259 | -€11,326 | -11.8% |
| Financial debts | 170/4 | €95,585 | €84,259 | -€11,326 | -11.8% |
| Amounts payable within one year | 42/48 | €193,501 | €234,905 | +€41,404 | +21.4% |
| Current portion of amounts payable after more than one year | 42 | €11,086 | €11,327 | +€241 | +2.2% |
| Trade debts | 44 | €396 | €800 | +€404 | +102% |
| Suppliers | 440/4 | €396 | €800 | +€404 | +102% |
| Taxes, remuneration and social security | 45 | €2,868 | €31,943 | +€29,075 | +1,014% |
| Taxes | 450/3 | €2,868 | €31,943 | +€29,075 | +1,014% |
| Other amounts payable | 47/48 | €179,151 | €190,835 | +€11,684 | +6.5% |
| Non-recurring operating income | 76A | €7,900 | - | -€7,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,148 | €44,802 | +€1,654 | +3.8% |
| Other operating charges | 640/8 | €4,532 | €4,649 | +€117 | +2.6% |
| Gross operating margin | 9900 | €15,255 | -€10,994 | -€26,249 | |
| Operating profit (loss) | 9901 | -€32,425 | -€60,445 | -€28,020 | -86.4% |
| Financial charges | 65/66B | €12,118 | €14,887 | +€2,769 | +22.9% |
| Recurring financial charges | 65 | €12,118 | €14,887 | +€2,769 | +22.9% |
| Profit (loss) for the period before taxes | 9903 | -€44,543 | -€75,332 | -€30,789 | -69.1% |
| Transfer from deferred taxes | 780 | €16,694 | €40,067 | +€23,373 | +140% |
| Income taxes | 67/77 | - | €28,173 | +€28,173 | |
| Profit (loss) for the period | 9904 | -€27,849 | -€63,438 | -€35,589 | -128% |
| Transfer from tax-exempt reserves | 789 | €30,050 | €140,234 | +€110,184 | +367% |
| Profit (loss) for the period to be appropriated | 9905 | €2,201 | €76,796 | +€74,595 | +3,389% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.