IMMO ARGUS: 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 ARGUS
Largest movements
- Tangible fixed assets -€55,544
down €55,544 (-9.7%), from €573,459 to €517,916
of which Land and buildings: -€52,167
- Cash +€50,449
up €50,449 (+160.4%), from €31,458 to €81,907
mainly Net result for the year (+€68,345) and Depreciation (+€55,544)
- Receivables within one year -€17,856
no longer reported in 2025 (was €17,856)
of which Other amounts receivable: -€10,444
- Debts after one year -€42,450
down €42,450 (-11.5%), from €369,692 to €327,242
- Reserves +€18,345
up €18,345 (+12.2%), from €150,281 to €168,626
- Gross operating margin +€66,807
up €66,807 (+75.6%), from €88,418 to €155,225
- Taxes +€18,477
up €18,477 (+354.5%), from €5,212 to €23,689
- Depreciation -€3,979
down €3,979 (-6.7%), from €59,523 to €55,544
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 | €622,773 | €600,056 | -€22,718 | -3.6% |
| Fixed assets | 21/28 | €573,459 | €517,916 | -€55,544 | -9.7% |
| Tangible fixed assets | 22/27 | €573,459 | €517,916 | -€55,544 | -9.7% |
| Land and buildings | 22 | €553,065 | €500,898 | -€52,167 | -9.4% |
| Plant, machinery and equipment | 23 | €4,875 | €4,370 | -€505 | -10.4% |
| Furniture and vehicles | 24 | €15,520 | €12,648 | -€2,872 | -18.5% |
| Current assets | 29/58 | €49,314 | €82,140 | +€32,826 | +66.6% |
| Amounts receivable after more than one year | 29 | - | €233 | +€233 | |
| Other amounts receivable | 291 | - | €233 | +€233 | |
| Amounts receivable within one year | 40/41 | €17,856 | - | -€17,856 | |
| Trade receivables | 40 | €7,412 | - | -€7,412 | |
| Other amounts receivable | 41 | €10,444 | - | -€10,444 | |
| Cash at bank and in hand | 54/58 | €31,458 | €81,907 | +€50,449 | +160.4% |
| Total equity and liabilities | 10/49 | €622,773 | €600,056 | -€22,718 | -3.6% |
| Equity | 10/15 | €168,881 | €187,226 | +€18,345 | +10.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €150,281 | €168,626 | +€18,345 | +12.2% |
| Distributable reserves | 133 | €150,281 | €168,626 | +€18,345 | +12.2% |
| Amounts payable | 17/49 | €453,892 | €412,829 | -€41,063 | -9.0% |
| Amounts payable after more than one year | 17 | €369,692 | €327,242 | -€42,450 | -11.5% |
| Financial debts | 170/4 | €369,692 | €327,242 | -€42,450 | -11.5% |
| Amounts payable within one year | 42/48 | €84,200 | €85,588 | +€1,387 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €46,776 | €42,450 | -€4,326 | -9.2% |
| Trade debts | 44 | €35,163 | €35,035 | -€128 | -0.4% |
| Suppliers | 440/4 | €35,163 | €35,035 | -€128 | -0.4% |
| Taxes, remuneration and social security | 45 | €2,261 | €8,102 | +€5,841 | +258.4% |
| Taxes | 450/3 | €2,261 | €8,102 | +€5,841 | +258.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,523 | €55,544 | -€3,979 | -6.7% |
| Other operating charges | 640/8 | €700 | €612 | -€88 | -12.6% |
| Gross operating margin | 9900 | €88,418 | €155,225 | +€66,807 | +75.6% |
| Operating profit (loss) | 9901 | €28,195 | €99,069 | +€70,874 | +251.4% |
| Financial charges | 65/66B | €7,905 | €7,035 | -€870 | -11.0% |
| Recurring financial charges | 65 | €7,905 | €7,035 | -€870 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €20,290 | €92,035 | +€71,745 | +353.6% |
| Income taxes | 67/77 | €5,212 | €23,689 | +€18,477 | +354.5% |
| Profit (loss) for the period | 9904 | €15,078 | €68,345 | +€53,268 | +353.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,078 | €68,345 | +€53,268 | +353.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.