IMMO ARENBERG: 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 ARENBERG
Largest movements
- Receivables within one year -€2.3m
down €2.3m (-90.3%), from €2.6m to €248,082
of which Trade receivables: -€2.2m
- Cash +€1.9m
up €1.9m (+90.8%), from €2.1m to €3.9m
mainly Current portion of long-term debt (+€16.7m) and Receivables within one year (+€2.3m)
- Tangible fixed assets -€1.6m
down €1.6m (-6.5%), from €24.8m to €23.2m
of which Land and buildings: -€1.7m
- Deferred charges and accrued income -€328,958
down €328,958 (-84.5%), from €389,458 to €60,500
- Current portion of long-term debt +€16.7m
up €16.7m, from €0 to €16.7m
- Debts after one year -€16.2m
down €16.2m (-100%), from €16.2m to €0
- Profit (loss) carried forward -€3.2m
down €3.2m (-24.0%), from €13.1m to €10.0m
- Turnover -€3.5m
down €3.5m (-81.2%), from €4.3m to €806,693
- Services and other goods +€704,759
up €704,759 (+157%), from €449,095 to €1.2m
- Financial charges -€342,968
down €342,968 (-38.7%), from €886,173 to €543,205
- Taxes -€307,541
down €307,541, from €291,530 to -€16,011
of which Taxes: -€291,530
- Other operating charges -€274,151
down €274,151 (-23.5%), from €1.2m to €894,800
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.
Derived cash bridge
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 | €30,099,131 | €27,587,939 | -€2.5m | -8.3% |
| Fixed assets | 21/28 | €25,103,276 | €23,362,673 | -€1.7m | -6.9% |
| Tangible fixed assets | 22/27 | €24,833,202 | €23,225,656 | -€1.6m | -6.5% |
| Land and buildings | 22 | €24,734,965 | €23,074,001 | -€1.7m | -6.7% |
| Assets under construction and advance payments | 27 | €98,237 | €151,654 | +€53,417 | +54.4% |
| Financial fixed assets | 28 | €270,075 | €137,017 | -€133,057 | -49.3% |
| Other financial fixed assets | 284/8 | €270,075 | €137,017 | -€133,057 | -49.3% |
| Amounts receivable and cash guarantees | 285/8 | €270,075 | €137,017 | -€133,057 | -49.3% |
| Current assets | 29/58 | €4,995,855 | €4,225,266 | -€770,589 | -15.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,553,450 | €248,082 | -€2.3m | -90.3% |
| Trade receivables | 40 | €2,464,724 | €248,082 | -€2.2m | -89.9% |
| Other amounts receivable | 41 | €88,726 | €0 | -€88,726 | -100% |
| Cash at bank and in hand | 54/58 | €2,052,947 | €3,916,684 | +€1.9m | +90.8% |
| Deferred charges and accrued income | 490/1 | €389,458 | €60,500 | -€328,958 | -84.5% |
| Total equity and liabilities | 10/49 | €30,099,131 | €27,587,939 | -€2.5m | -8.3% |
| Equity | 10/15 | €13,208,830 | €10,050,049 | -€3.2m | -23.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,140,630 | €9,981,849 | -€3.2m | -24.0% |
| Amounts payable | 17/49 | €16,890,302 | €17,537,890 | +€647,588 | +3.8% |
| Amounts payable after more than one year | 17 | €16,167,953 | €0 | -€16.2m | -100% |
| Financial debts | 170/4 | €16,167,953 | €0 | -€16.2m | -100% |
| Subordinated loans | 170 | €16,167,953 | €0 | -€16.2m | -100% |
| Amounts payable within one year | 42/48 | €722,349 | €17,530,922 | +€16.8m | +2,327% |
| Current portion of amounts payable after more than one year | 42 | €0 | €16,710,953 | +€16.7m | |
| Trade debts | 44 | €431,576 | €544,115 | +€112,539 | +26.1% |
| Suppliers | 440/4 | €431,576 | €544,115 | +€112,539 | +26.1% |
| Taxes, remuneration and social security | 45 | €290,773 | €275,854 | -€14,919 | -5.1% |
| Taxes | 450/3 | €290,773 | €275,854 | -€14,919 | -5.1% |
| Accrued charges and deferred income | 492/3 | €0 | €6,968 | +€6,968 | |
| Operating income | 70/76A | €4,834,081 | €1,083,598 | -€3.8m | -77.6% |
| Turnover | 70 | €4,292,205 | €806,693 | -€3.5m | -81.2% |
| Other operating income | 74 | €541,876 | €276,905 | -€264,971 | -48.9% |
| Operating charges | 60/66A | €3,108,270 | €3,715,185 | +€606,915 | +19.5% |
| Services and other goods | 61 | €449,095 | €1,153,854 | +€704,759 | +157% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,490,225 | €1,666,531 | +€176,307 | +11.8% |
| Other operating charges | 640/8 | €1,168,950 | €894,800 | -€274,151 | -23.5% |
| Operating profit (loss) | 9901 | €1,725,811 | -€2,631,587 | -€4.4m | |
| Financial charges | 65/66B | €886,173 | €543,205 | -€342,968 | -38.7% |
| Recurring financial charges | 65 | €886,173 | €543,205 | -€342,968 | -38.7% |
| Debt charges | 650 | €886,173 | €543,205 | -€342,968 | -38.7% |
| Other financial charges | 652/9 | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €839,638 | -€3,174,792 | -€4.0m | |
| Income taxes | 67/77 | €291,530 | -€16,011 | -€307,541 | |
| Taxes | 670/3 | €291,530 | €0 | -€291,530 | -100% |
| Tax adjustments and reversals of tax provisions | 77 | - | €16,011 | +€16,011 | |
| Profit (loss) for the period | 9904 | €548,108 | -€3,158,781 | -€3.7m | |
| Profit (loss) for the period to be appropriated | 9905 | €548,108 | -€3,158,781 | -€3.7m |
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 19 October 2026 via checked.be.