IMMO BAY: 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 BAY
Largest movements
- Cash +€156,067
up €156,067 (+10576.2%), from €1,476 to €157,543
mainly Investment in fixed assets (net) (+€94,040) and Net result for the year (+€87,366)
- Tangible fixed assets -€123,787
down €123,787 (-26.5%), from €467,651 to €343,865
of which Land and buildings: -€123,787
- Receivables within one year -€39,485
down €39,485 (-48.5%), from €81,384 to €41,898
of which Other amounts receivable: -€39,545
- Debts after one year -€126,889
down €126,889 (-34.0%), from €372,988 to €246,098
of which Financial debts: -€126,889
- Reserves +€62,730
up €62,730 (+148.1%), from €42,367 to €105,097
of which Tax-exempt reserves: +€62,730
- Profit (loss) carried forward +€24,636
up €24,636 (+918.0%), from €2,684 to €27,320
- Provisions +€20,940
new in 2025: €20,940
- Current portion of long-term debt -€11,739
down €11,739 (-22.0%), from €53,382 to €41,643
- Gross operating margin +€88,317
up €88,317 (+104.0%), from €84,943 to €173,259
- Depreciation -€15,316
down €15,316 (-34.0%), from €45,062 to €29,746
- Taxes +€8,929
up €8,929 (+2988.3%), from €299 to €9,228
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 | €555,280 | €547,774 | -€7,506 | -1.4% |
| Fixed assets | 21/28 | €467,900 | €344,113 | -€123,787 | -26.5% |
| Tangible fixed assets | 22/27 | €467,651 | €343,865 | -€123,787 | -26.5% |
| Land and buildings | 22 | €467,651 | €343,865 | -€123,787 | -26.5% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €87,380 | €203,661 | +€116,281 | +133.1% |
| Amounts receivable within one year | 40/41 | €81,384 | €41,898 | -€39,485 | -48.5% |
| Trade receivables | 40 | - | €60 | +€60 | |
| Other amounts receivable | 41 | €81,384 | €41,838 | -€39,545 | -48.6% |
| Cash at bank and in hand | 54/58 | €1,476 | €157,543 | +€156,067 | +10576.2% |
| Deferred charges and accrued income | 490/1 | €4,521 | €4,220 | -€301 | -6.7% |
| Total equity and liabilities | 10/49 | €555,280 | €547,774 | -€7,506 | -1.4% |
| Equity | 10/15 | €107,076 | €194,443 | +€87,366 | +81.6% |
| Contributions | 10/11 | €62,026 | €62,026 | = | 0.0% |
| Reserves | 13 | €42,367 | €105,097 | +€62,730 | +148.1% |
| Non-distributable reserves | 130/1 | €3,737 | €3,737 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,737 | €3,737 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,021 | €80,752 | +€62,730 | +348.1% |
| Distributable reserves | 133 | €20,608 | €20,608 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,684 | €27,320 | +€24,636 | +918.0% |
| Provisions and deferred taxes | 16 | - | €20,940 | +€20,940 | |
| Deferred taxes | 168 | - | €20,940 | +€20,940 | |
| Amounts payable | 17/49 | €448,204 | €332,391 | -€115,813 | -25.8% |
| Amounts payable after more than one year | 17 | €372,988 | €246,098 | -€126,889 | -34.0% |
| Financial debts | 170/4 | €271,743 | €144,854 | -€126,889 | -46.7% |
| Other amounts payable | 178/9 | €101,245 | €101,245 | = | 0.0% |
| Amounts payable within one year | 42/48 | €75,216 | €86,293 | +€11,077 | +14.7% |
| Current portion of amounts payable after more than one year | 42 | €53,382 | €41,643 | -€11,739 | -22.0% |
| Trade debts | 44 | €8,816 | €12,463 | +€3,647 | +41.4% |
| Suppliers | 440/4 | €8,816 | €11,150 | +€2,334 | +26.5% |
| Bills of exchange payable | 441 | - | €1,313 | +€1,313 | |
| Taxes, remuneration and social security | 45 | €299 | €9,618 | +€9,320 | +3119.0% |
| Taxes | 450/3 | €299 | €9,618 | +€9,320 | +3119.0% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €12,719 | €22,569 | +€9,850 | +77.4% |
| Turnover | 70 | - | €0 | = | |
| Non-recurring operating income | 76A | - | €83,671 | +€83,671 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €10,061 | €10,525 | +€465 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,062 | €29,746 | -€15,316 | -34.0% |
| Other operating charges | 640/8 | €7,917 | €8,225 | +€308 | +3.9% |
| Gross operating margin | 9900 | €84,943 | €173,259 | +€88,317 | +104.0% |
| Operating profit (loss) | 9901 | €21,903 | €124,763 | +€102,860 | +469.6% |
| Financial income | 75/76B | €1,584 | €1,553 | -€30 | -1.9% |
| Recurring financial income | 75 | €1,584 | €1,553 | -€30 | -1.9% |
| Financial charges | 65/66B | €10,045 | €8,781 | -€1,263 | -12.6% |
| Recurring financial charges | 65 | €10,045 | €8,781 | -€1,263 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €13,442 | €117,535 | +€104,093 | +774.4% |
| Transfer to deferred taxes | 680 | - | €20,940 | +€20,940 | |
| Income taxes | 67/77 | €299 | €9,228 | +€8,929 | +2988.3% |
| Profit (loss) for the period | 9904 | €13,143 | €87,366 | +€74,223 | +564.7% |
| Transfer to tax-exempt reserves | 689 | - | €62,730 | +€62,730 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,143 | €24,636 | +€11,493 | +87.4% |
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 8 October 2026 via checked.be.