IMMO B.G.E.I.: 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.
What changed
IMMO B.G.E.I.
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€25,903
2024 · €19,643+€6,260
Equity
€905,447
2024 · €879,544+€25,903
Cash
€49,450
2024 · €53,169-€3,718
Balance sheet total
€1.6m
2024 · €1.7m-€44,221
Largest movements
Assets
- Tangible fixed assets -€35,376
down €35,376 (-2.9%), from €1.2m to €1.2m
of which Land and buildings: -€32,929
Equity and liabilities
- Debts after one year -€65,316
down €65,316 (-10.1%), from €647,237 to €581,921
of which Financial debts: -€66,256
- Reserves +€25,862
up €25,862 (+3.0%), from €858,827 to €884,689
of which Distributable reserves: +€34,500
Income statement
- Gross operating margin +€4,846
up €4,846 (+5.2%), from €92,743 to €97,590
- Taxes +€2,741
up €2,741 (+19.4%), from €14,114 to €16,856
- Depreciation -€1,631
down €1,631 (-3.3%), from €49,510 to €47,879
- Other operating charges -€976
down €976 (-14.0%), from €6,991 to €6,014
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.
Result 2024
€19,643
Gross operating margin
+€4,846
Depreciation
+€1,631
Other operating charges
+€976
Financial income
+€645
Financial charges
+€903
Taxes
-€2,741
Result 2025
€25,903
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.
From operations
+€73,230
Investment
-€12,503
Financing
-€64,445
Cash 2024
€53,169
From operations (derived)
+€73,230
Net result for the year
+€25,903
Depreciation
+€47,879
Receivables within one year
+€5,215
Deferred charges and accrued income
-€88
Provisions
-€2,879
Trade debts
-€1,751
Tax, wage and social debts
-€646
Accrued charges and deferred income
-€403
Investment (derived)
-€12,503
Investment in fixed assets (net)
-€12,503
Financing
-€64,445
Debts after one year
-€65,316
Current portion of long-term debt
+€871
Cash 2025
€49,450
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,690,244 | €1,646,023 | -€44,221 | -2.6% |
| Fixed assets | 21/28 | €1,233,647 | €1,198,271 | -€35,376 | -2.9% |
| Tangible fixed assets | 22/27 | €1,233,622 | €1,198,246 | -€35,376 | -2.9% |
| Land and buildings | 22 | €1,213,674 | €1,180,746 | -€32,929 | -2.7% |
| Other tangible fixed assets | 26 | €19,948 | €17,500 | -€2,447 | -12.3% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €456,597 | €447,752 | -€8,845 | -1.9% |
| Amounts receivable after more than one year | 29 | €190,000 | €190,000 | = | 0.0% |
| Other amounts receivable | 291 | €190,000 | €190,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €210,969 | €205,754 | -€5,215 | -2.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €210,969 | €205,754 | -€5,215 | -2.5% |
| Cash at bank and in hand | 54/58 | €53,169 | €49,450 | -€3,718 | -7.0% |
| Deferred charges and accrued income | 490/1 | €2,460 | €2,548 | +€88 | +3.6% |
| Total equity and liabilities | 10/49 | €1,690,244 | €1,646,023 | -€44,221 | -2.6% |
| Equity | 10/15 | €879,544 | €905,447 | +€25,903 | +2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €858,827 | €884,689 | +€25,862 | +3.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €227,467 | €218,829 | -€8,638 | -3.8% |
| Distributable reserves | 133 | €631,360 | €665,860 | +€34,500 | +5.5% |
| Profit (loss) carried forward | 14 | €2,117 | €2,159 | +€42 | +2.0% |
| Provisions and deferred taxes | 16 | €75,822 | €72,943 | -€2,879 | -3.8% |
| Deferred taxes | 168 | €75,822 | €72,943 | -€2,879 | -3.8% |
| Amounts payable | 17/49 | €734,878 | €667,633 | -€67,245 | -9.2% |
| Amounts payable after more than one year | 17 | €647,237 | €581,921 | -€65,316 | -10.1% |
| Financial debts | 170/4 | €642,277 | €576,021 | -€66,256 | -10.3% |
| Other amounts payable | 178/9 | €4,960 | €5,900 | +€940 | +19.0% |
| Amounts payable within one year | 42/48 | €84,701 | €83,175 | -€1,526 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €65,385 | €66,256 | +€871 | +1.3% |
| Trade debts | 44 | €5,201 | €3,450 | -€1,751 | -33.7% |
| Suppliers | 440/4 | €5,201 | €3,450 | -€1,751 | -33.7% |
| Taxes, remuneration and social security | 45 | €14,114 | €13,468 | -€646 | -4.6% |
| Taxes | 450/3 | €14,114 | €13,468 | -€646 | -4.6% |
| Accrued charges and deferred income | 492/3 | €2,940 | €2,537 | -€403 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,510 | €47,879 | -€1,631 | -3.3% |
| Other operating charges | 640/8 | €6,991 | €6,014 | -€976 | -14.0% |
| Gross operating margin | 9900 | €92,743 | €97,590 | +€4,846 | +5.2% |
| Operating profit (loss) | 9901 | €36,243 | €43,697 | +€7,454 | +20.6% |
| Financial income | 75/76B | €4,947 | €5,592 | +€645 | +13.0% |
| Recurring financial income | 75 | €4,947 | €5,592 | +€645 | +13.0% |
| Financial charges | 65/66B | €10,312 | €9,409 | -€903 | -8.8% |
| Recurring financial charges | 65 | €10,312 | €9,409 | -€903 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €30,878 | €39,880 | +€9,001 | +29.2% |
| Transfer from deferred taxes | 780 | €2,879 | €2,879 | = | 0.0% |
| Income taxes | 67/77 | €14,114 | €16,856 | +€2,741 | +19.4% |
| Profit (loss) for the period | 9904 | €19,643 | €25,903 | +€6,260 | +31.9% |
| Transfer from tax-exempt reserves | 789 | €8,638 | €8,638 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,281 | €34,542 | +€6,260 | +22.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.