Immo-AZBEL: 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-AZBEL
Largest movements
- Tangible fixed assets -€14,651
down €14,651 (-5.8%), from €253,750 to €239,099
of which Land and buildings: -€10,500
- Cash +€3,636
up €3,636 (+153.1%), from €2,374 to €6,010
mainly Depreciation (+€16,105) and Net result for the year (+€7,245)
- Debts after one year -€22,236
down €22,236 (-12.2%), from €182,404 to €160,168
of which Financial debts: -€22,236
- Profit (loss) carried forward +€7,245
up €7,245, from -€5,040 to €2,205
- Other debts +€4,326
up €4,326 (+8.5%), from €51,019 to €55,345
- Purchases and services +€624
up €624 (+12.6%), from €4,959 to €5,583
- Financial charges -€609
down €609 (-9.5%), from €6,401 to €5,792
of which Financial charges: -€531
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 | €259,219 | €250,688 | -€8,531 | -3.3% |
| Fixed assets | 21/28 | €253,750 | €239,099 | -€14,651 | -5.8% |
| Tangible fixed assets | 22/27 | €253,750 | €239,099 | -€14,651 | -5.8% |
| Land and buildings | 22 | €234,500 | €224,000 | -€10,500 | -4.5% |
| Furniture and vehicles | 24 | €12,560 | €9,537 | -€3,023 | -24.1% |
| Other tangible fixed assets | 26 | €6,690 | €5,563 | -€1,128 | -16.9% |
| Current assets | 29/58 | €5,469 | €11,589 | +€6,119 | +111.9% |
| Amounts receivable within one year | 40/41 | - | €2,484 | +€2,484 | |
| Other amounts receivable | 41 | - | €2,484 | +€2,484 | |
| Cash at bank and in hand | 54/58 | €2,374 | €6,010 | +€3,636 | +153.1% |
| Deferred charges and accrued income | 490/1 | €3,095 | €3,095 | -€0 | 0.0% |
| Total equity and liabilities | 10/49 | €259,219 | €250,688 | -€8,531 | -3.3% |
| Equity | 10/15 | €1,160 | €8,405 | +€7,245 | +624.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Profit (loss) carried forward | 14 | -€5,040 | €2,205 | +€7,245 | |
| Amounts payable | 17/49 | €258,059 | €242,283 | -€15,777 | -6.1% |
| Amounts payable after more than one year | 17 | €182,404 | €160,168 | -€22,236 | -12.2% |
| Financial debts | 170/4 | €174,904 | €152,668 | -€22,236 | -12.7% |
| Other amounts payable | 178/9 | €7,500 | €7,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €75,170 | €81,677 | +€6,507 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €21,534 | €22,195 | +€661 | +3.1% |
| Trade debts | 44 | €2,617 | €4,136 | +€1,520 | +58.1% |
| Suppliers | 440/4 | €2,617 | €4,136 | +€1,520 | +58.1% |
| Other amounts payable | 47/48 | €51,019 | €55,345 | +€4,326 | +8.5% |
| Accrued charges and deferred income | 492/3 | €485 | €438 | -€47 | -9.8% |
| Turnover | 70 | €35,006 | €35,087 | +€81 | +0.2% |
| Non-recurring operating income | 76A | €2,169 | €2,484 | +€315 | +14.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €4,959 | €5,583 | +€624 | +12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,814 | €16,105 | +€291 | +1.8% |
| Other operating charges | 640/8 | €2,759 | €2,846 | +€87 | +3.1% |
| Gross operating margin | 9900 | €32,216 | €31,988 | -€228 | -0.7% |
| Operating profit (loss) | 9901 | €13,643 | €13,037 | -€605 | -4.4% |
| Financial charges | 65/66B | €6,401 | €5,792 | -€609 | -9.5% |
| Recurring financial charges | 65 | €6,322 | €5,792 | -€531 | -8.4% |
| Non-recurring financial charges | 66B | €78 | - | -€78 | |
| Profit (loss) for the period before taxes | 9903 | €7,242 | €7,245 | +€3 | 0.0% |
| Profit (loss) for the period | 9904 | €7,242 | €7,245 | +€3 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,242 | €7,245 | +€3 | 0.0% |
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 8 October 2026 via checked.be.