Immo Bavago: 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 Bavago
Largest movements
- Tangible fixed assets -€37,138
down €37,138 (-11.9%), from €310,823 to €273,684
- Debts after one year -€49,845
down €49,845 (-28.7%), from €173,565 to €123,720
of which Financial debts: -€42,345
- Reserves +€27,418
up €27,418 (+16.8%), from €162,917 to €190,336
of which Distributable reserves: +€27,418
- Other debts -€19,982
down €19,982 (-92.5%), from €21,596 to €1,614
- Tax, wage and social debts +€4,556
up €4,556 (+70.2%), from €6,486 to €11,042
- Financial charges -€5,340
down €5,340 (-95.3%), from €5,605 to €265
- Gross operating margin -€4,299
down €4,299 (-3.9%), from €109,306 to €105,007
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 | €416,959 | €376,477 | -€40,482 | -9.7% |
| Fixed assets | 21/28 | €310,823 | €273,684 | -€37,138 | -11.9% |
| Tangible fixed assets | 22/27 | €310,823 | €273,684 | -€37,138 | -11.9% |
| Land and buildings | 22 | €310,823 | €273,684 | -€37,138 | -11.9% |
| Current assets | 29/58 | €106,136 | €102,793 | -€3,343 | -3.2% |
| Amounts receivable within one year | 40/41 | €24,421 | €24,421 | = | 0.0% |
| Other amounts receivable | 41 | €24,421 | €24,421 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €81,715 | €78,372 | -€3,343 | -4.1% |
| Total equity and liabilities | 10/49 | €416,959 | €376,477 | -€40,482 | -9.7% |
| Equity | 10/15 | €166,666 | €194,084 | +€27,418 | +16.5% |
| Contributions | 10/11 | €3,748 | €3,748 | = | 0.0% |
| Reserves | 13 | €162,917 | €190,336 | +€27,418 | +16.8% |
| Tax-exempt reserves | 132 | €3,608 | €3,608 | = | 0.0% |
| Distributable reserves | 133 | €159,310 | €186,728 | +€27,418 | +17.2% |
| Amounts payable | 17/49 | €250,293 | €182,393 | -€67,900 | -27.1% |
| Amounts payable after more than one year | 17 | €173,565 | €123,720 | -€49,845 | -28.7% |
| Financial debts | 170/4 | €166,065 | €123,720 | -€42,345 | -25.5% |
| Other amounts payable | 178/9 | €7,500 | - | -€7,500 | |
| Amounts payable within one year | 42/48 | €76,728 | €58,673 | -€18,055 | -23.5% |
| Current portion of amounts payable after more than one year | 42 | €48,455 | €45,848 | -€2,608 | -5.4% |
| Financial debts | 43 | €21 | - | -€21 | |
| Other loans | 439 | €21 | - | -€21 | |
| Trade debts | 44 | €169 | €169 | = | 0.0% |
| Suppliers | 440/4 | €169 | €169 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,486 | €11,042 | +€4,556 | +70.2% |
| Taxes | 450/3 | €6,486 | €11,042 | +€4,556 | +70.2% |
| Other amounts payable | 47/48 | €21,596 | €1,614 | -€19,982 | -92.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,138 | €37,138 | = | 0.0% |
| Other operating charges | 640/8 | €8,464 | €9,078 | +€614 | +7.3% |
| Gross operating margin | 9900 | €109,306 | €105,007 | -€4,299 | -3.9% |
| Operating profit (loss) | 9901 | €63,704 | €58,791 | -€4,913 | -7.7% |
| Financial income | 75/76B | - | €21 | +€21 | |
| Recurring financial income | 75 | - | €21 | +€21 | |
| Financial charges | 65/66B | €5,605 | €265 | -€5,340 | -95.3% |
| Recurring financial charges | 65 | €5,605 | €265 | -€5,340 | -95.3% |
| Profit (loss) for the period before taxes | 9903 | €58,099 | €58,547 | +€448 | +0.8% |
| Income taxes | 67/77 | €18,486 | €18,629 | +€143 | +0.8% |
| Profit (loss) for the period | 9904 | €39,613 | €39,918 | +€305 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €39,613 | €39,918 | +€305 | +0.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.