IMMO BALTAZAR: 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 BALTAZAR
Largest movements
- Tangible fixed assets +€113,333
up €113,333 (+3.0%), from €3.7m to €3.8m
of which Land and buildings: +€160,955
- Receivables within one year -€40,229
down €40,229 (-67.3%), from €59,817 to €19,588
of which Trade receivables: -€46,968
- Debts after one year -€633,981
down €633,981 (-27.3%), from €2.3m to €1.7m
of which Financial debts: -€631,871
- Other debts +€403,968
up €403,968 (+36.3%), from €1.1m to €1.5m
- Current portion of long-term debt +€157,586
up €157,586 (+421%), from €37,450 to €195,036
- Contributions +€100,000
up €100,000 (+25.0%), from €400,000 to €500,000
- Profit (loss) carried forward +€56,438
up €56,438 (+83.3%), from -€67,728 to -€11,290
- Turnover +€63,731
up €63,731 (+19.1%), from €333,764 to €397,495
- Gross operating margin +€50,072
up €50,072 (+19.9%), from €251,002 to €301,074
- Depreciation +€30,274
up €30,274 (+23.8%), from €126,967 to €157,241
- Purchases and services +€21,827
up €21,827 (+26.4%), from €82,762 to €104,589
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,848,294 | €3,896,105 | +€47,811 | +1.2% |
| Fixed assets | 21/28 | €3,718,359 | €3,831,692 | +€113,333 | +3.0% |
| Tangible fixed assets | 22/27 | €3,717,363 | €3,830,696 | +€113,333 | +3.0% |
| Land and buildings | 22 | €3,524,677 | €3,685,632 | +€160,955 | +4.6% |
| Plant, machinery and equipment | 23 | €192,067 | €144,651 | -€47,416 | -24.7% |
| Furniture and vehicles | 24 | €619 | €413 | -€206 | -33.3% |
| Financial fixed assets | 28 | €996 | €996 | = | 0.0% |
| Current assets | 29/58 | €129,935 | €64,413 | -€65,521 | -50.4% |
| Amounts receivable within one year | 40/41 | €59,817 | €19,588 | -€40,229 | -67.3% |
| Trade receivables | 40 | €49,817 | €2,849 | -€46,968 | -94.3% |
| Other amounts receivable | 41 | €10,000 | €16,739 | +€6,739 | +67.4% |
| Cash at bank and in hand | 54/58 | €69,876 | €44,825 | -€25,051 | -35.9% |
| Deferred charges and accrued income | 490/1 | €241 | - | -€241 | |
| Total equity and liabilities | 10/49 | €3,848,294 | €3,896,105 | +€47,811 | +1.2% |
| Equity | 10/15 | €335,276 | €491,714 | +€156,438 | +46.7% |
| Contributions | 10/11 | €400,000 | €500,000 | +€100,000 | +25.0% |
| Capital | 10 | €400,000 | €500,000 | +€100,000 | +25.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Uncalled capital | 101 | €100,000 | - | -€100,000 | |
| Reserves | 13 | €3,004 | €3,004 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,004 | €3,004 | = | 0.0% |
| Legal reserve | 130 | €3,004 | €3,004 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,728 | -€11,290 | +€56,438 | +83.3% |
| Amounts payable | 17/49 | €3,513,017 | €3,404,391 | -€108,626 | -3.1% |
| Amounts payable after more than one year | 17 | €2,319,812 | €1,685,831 | -€633,981 | -27.3% |
| Financial debts | 170/4 | €2,277,921 | €1,646,050 | -€631,871 | -27.7% |
| Other amounts payable | 178/9 | €41,891 | €39,781 | -€2,110 | -5.0% |
| Amounts payable within one year | 42/48 | €1,193,205 | €1,718,560 | +€525,355 | +44.0% |
| Current portion of amounts payable after more than one year | 42 | €37,450 | €195,036 | +€157,586 | +421% |
| Trade debts | 44 | €19,902 | €6,204 | -€13,698 | -68.8% |
| Suppliers | 440/4 | €19,902 | €6,204 | -€13,698 | -68.8% |
| Taxes, remuneration and social security | 45 | €22,500 | - | -€22,500 | |
| Remuneration and social security | 454/9 | €22,500 | - | -€22,500 | |
| Other amounts payable | 47/48 | €1,113,353 | €1,517,321 | +€403,968 | +36.3% |
| Turnover | 70 | €333,764 | €397,495 | +€63,731 | +19.1% |
| Non-recurring operating income | 76A | - | €8,169 | +€8,169 | |
| Goods, raw materials, services and sundry goods | 60/61 | €82,762 | €104,589 | +€21,827 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,967 | €157,241 | +€30,274 | +23.8% |
| Other operating charges | 640/8 | €21,470 | €24,927 | +€3,457 | +16.1% |
| Non-recurring operating charges | 66A | - | €50 | +€50 | |
| Gross operating margin | 9900 | €251,002 | €301,074 | +€50,072 | +19.9% |
| Operating profit (loss) | 9901 | €102,565 | €118,857 | +€16,292 | +15.9% |
| Financial charges | 65/66B | €66,181 | €62,419 | -€3,762 | -5.7% |
| Recurring financial charges | 65 | €66,181 | €62,419 | -€3,762 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €36,384 | €56,438 | +€20,053 | +55.1% |
| Profit (loss) for the period | 9904 | €36,384 | €56,438 | +€20,053 | +55.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,384 | €56,438 | +€20,053 | +55.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.