IMMO ARPI: 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 ARPI
Largest movements
- Tangible fixed assets -€27,773
down €27,773 (-18.9%), from €146,964 to €119,192
of which Leasing and similar rights: -€22,507
- Receivables within one year +€19,229
up €19,229 (+11.7%), from €164,714 to €183,943
of which Trade receivables: +€19,484
- Other debts +€75,369
up €75,369 (+79.2%), from €95,182 to €170,551
- Profit (loss) carried forward -€40,570
down €40,570 (-38.5%), from -€105,509 to -€146,079
- Trade debts -€18,896
down €18,896 (-32.5%), from €58,169 to €39,273
- Debts after one year -€12,726
down €12,726 (-100%), from €12,726 to €0
- Tax, wage and social debts -€9,354
down €9,354 (-18.0%), from €51,973 to €42,620
of which Taxes: -€5,267
- Gross operating margin -€91,629
down €91,629 (-22.6%), from €405,277 to €313,647
- Staff costs -€37,118
down €37,118 (-10.4%), from €356,960 to €319,842
- Depreciation -€4,777
down €4,777 (-24.5%), from €19,462 to €14,685
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 | €325,510 | €314,597 | -€10,913 | -3.4% |
| Fixed assets | 21/28 | €147,708 | €119,935 | -€27,773 | -18.8% |
| Tangible fixed assets | 22/27 | €146,964 | €119,192 | -€27,773 | -18.9% |
| Land and buildings | 22 | €84,738 | €84,067 | -€671 | -0.8% |
| Plant, machinery and equipment | 23 | €20,889 | €17,207 | -€3,682 | -17.6% |
| Furniture and vehicles | 24 | €7,294 | €6,382 | -€912 | -12.5% |
| Leasing and similar rights | 25 | €34,043 | €11,536 | -€22,507 | -66.1% |
| Financial fixed assets | 28 | €744 | €744 | = | 0.0% |
| Current assets | 29/58 | €177,802 | €194,662 | +€16,860 | +9.5% |
| Amounts receivable within one year | 40/41 | €164,714 | €183,943 | +€19,229 | +11.7% |
| Trade receivables | 40 | €21,680 | €41,164 | +€19,484 | +89.9% |
| Other amounts receivable | 41 | €143,034 | €142,779 | -€255 | -0.2% |
| Cash at bank and in hand | 54/58 | €8,483 | €7,717 | -€766 | -9.0% |
| Deferred charges and accrued income | 490/1 | €4,605 | €3,002 | -€1,603 | -34.8% |
| Total equity and liabilities | 10/49 | €325,510 | €314,597 | -€10,913 | -3.4% |
| Equity | 10/15 | €89,998 | €49,428 | -€40,570 | -45.1% |
| Contributions | 10/11 | €177,734 | €177,734 | = | 0.0% |
| Capital | 10 | €177,734 | €177,734 | = | 0.0% |
| Issued capital | 100 | €177,734 | €177,734 | = | 0.0% |
| Reserves | 13 | €17,773 | €17,773 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,773 | €17,773 | = | 0.0% |
| Legal reserve | 130 | €17,773 | €17,773 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€105,509 | -€146,079 | -€40,570 | -38.5% |
| Amounts payable | 17/49 | €235,512 | €265,169 | +€29,657 | +12.6% |
| Amounts payable after more than one year | 17 | €12,726 | €0 | -€12,726 | -100% |
| Financial debts | 170/4 | €12,726 | €0 | -€12,726 | -100% |
| Amounts payable within one year | 42/48 | €222,786 | €265,169 | +€42,383 | +19.0% |
| Current portion of amounts payable after more than one year | 42 | €17,462 | €12,726 | -€4,736 | -27.1% |
| Trade debts | 44 | €58,169 | €39,273 | -€18,896 | -32.5% |
| Suppliers | 440/4 | €58,169 | €39,273 | -€18,896 | -32.5% |
| Taxes, remuneration and social security | 45 | €51,973 | €42,620 | -€9,354 | -18.0% |
| Taxes | 450/3 | €8,930 | €3,663 | -€5,267 | -59.0% |
| Remuneration and social security | 454/9 | €43,043 | €38,957 | -€4,086 | -9.5% |
| Other amounts payable | 47/48 | €95,182 | €170,551 | +€75,369 | +79.2% |
| Turnover | 70 | €0 | - | = | |
| Non-recurring operating income | 76A | €357 | €146 | -€211 | -59.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €356,960 | €319,842 | -€37,118 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,462 | €14,685 | -€4,777 | -24.5% |
| Other operating charges | 640/8 | €13,848 | €12,521 | -€1,327 | -9.6% |
| Non-recurring operating charges | 66A | - | €4,837 | +€4,837 | |
| Gross operating margin | 9900 | €405,277 | €313,647 | -€91,629 | -22.6% |
| Operating profit (loss) | 9901 | €15,006 | -€38,238 | -€53,244 | |
| Financial income | 75/76B | €1,231 | €294 | -€937 | -76.1% |
| Recurring financial income | 75 | €1,231 | €294 | -€937 | -76.1% |
| Financial charges | 65/66B | €2,218 | €1,937 | -€281 | -12.7% |
| Recurring financial charges | 65 | €2,218 | €1,937 | -€281 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €14,019 | -€39,882 | -€53,901 | |
| Income taxes | 67/77 | €818 | €688 | -€130 | -15.9% |
| Profit (loss) for the period | 9904 | €13,201 | -€40,570 | -€53,771 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,201 | -€40,570 | -€53,771 |
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 20 October 2026 via checked.be.