IMMO ARMOULIN: 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 ARMOULIN
Largest movements
- Tangible fixed assets -€13,680
down €13,680 (-3.8%), from €360,265 to €346,585
- Debts after one year -€18,252
down €18,252 (-7.4%), from €247,359 to €229,108
- Profit (loss) carried forward +€4,665
up €4,665 (+84.7%), from €5,506 to €10,171
- Provisions +€5,829
no longer reported in 2025 (was -€5,829)
- Gross operating margin +€2,766
up €2,766 (+9.9%), from €27,995 to €30,762
- Taxes -€350
down €350 (-17.4%), from €2,012 to €1,662
- Financial charges -€322
down €322 (-5.2%), from €6,160 to €5,837
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 | €367,340 | €354,389 | -€12,951 | -3.5% |
| Fixed assets | 21/28 | €360,265 | €346,585 | -€13,680 | -3.8% |
| Tangible fixed assets | 22/27 | €360,265 | €346,585 | -€13,680 | -3.8% |
| Land and buildings | 22 | €360,265 | €346,585 | -€13,680 | -3.8% |
| Current assets | 29/58 | €7,074 | €7,804 | +€729 | +10.3% |
| Amounts receivable within one year | 40/41 | €1,082 | €1,320 | +€238 | +22.0% |
| Other amounts receivable | 41 | €1,082 | €1,320 | +€238 | +22.0% |
| Cash at bank and in hand | 54/58 | €5,992 | €6,484 | +€491 | +8.2% |
| Total equity and liabilities | 10/49 | €367,340 | €354,389 | -€12,951 | -3.5% |
| Equity | 10/15 | €12,107 | €17,017 | +€4,910 | +40.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €401 | €647 | +€246 | +61.2% |
| Non-distributable reserves | 130/1 | €401 | €647 | +€246 | +61.2% |
| Legal reserve | 130 | €401 | €647 | +€246 | +61.2% |
| Profit (loss) carried forward | 14 | €5,506 | €10,171 | +€4,665 | +84.7% |
| Amounts payable | 17/49 | €355,233 | €337,371 | -€17,861 | -5.0% |
| Amounts payable after more than one year | 17 | €247,359 | €229,108 | -€18,252 | -7.4% |
| Financial debts | 170/4 | €247,359 | €229,108 | -€18,252 | -7.4% |
| Amounts payable within one year | 42/48 | €107,873 | €108,264 | +€390 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €17,861 | €18,252 | +€390 | +2.2% |
| Taxes, remuneration and social security | 45 | €2,012 | €2,012 | = | 0.0% |
| Taxes | 450/3 | €2,012 | €2,012 | = | 0.0% |
| Other amounts payable | 47/48 | €88,000 | €88,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,680 | €13,680 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€5,829 | - | +€5,829 | |
| Other operating charges | 640/8 | €4,482 | €4,672 | +€190 | +4.2% |
| Gross operating margin | 9900 | €27,995 | €30,762 | +€2,766 | +9.9% |
| Operating profit (loss) | 9901 | €15,662 | €12,409 | -€3,253 | -20.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €6,160 | €5,837 | -€322 | -5.2% |
| Recurring financial charges | 65 | €6,160 | €5,837 | -€322 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €9,503 | €6,572 | -€2,930 | -30.8% |
| Income taxes | 67/77 | €2,012 | €1,662 | -€350 | -17.4% |
| Profit (loss) for the period | 9904 | €7,490 | €4,910 | -€2,580 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,490 | €4,910 | -€2,580 | -34.4% |
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.