Immo Baziel: what changed
What changed
Immo Baziel
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
-€4,469
2024 · -€4,581+€112
Equity
€227,671
2024 · €232,139-€4,469
Cash
€9,362
2024 · €3,067+€6,295
Balance sheet total
€2.4m
2024 · €1.4m+€1.0m
Largest movements
Assets
- Tangible fixed assets +€986,843
up €986,843 (+72.7%), from €1.4m to €2.3m
of which Land and buildings: +€989,411
Equity and liabilities
- Debts after one year +€831,121
up €831,121 (+124%), from €672,117 to €1.5m
- Other debts +€182,874
up €182,874 (+49.0%), from €373,354 to €556,229
Income statement
- Depreciation +€17,097
up €17,097 (+28.3%), from €60,346 to €77,442
- Gross operating margin +€10,838
up €10,838 (+13.0%), from €83,127 to €93,965
- Other operating charges -€8,347
down €8,347 (-87.2%), from €9,570 to €1,223
- Financial charges +€1,976
up €1,976 (+9.6%), from €20,636 to €22,612
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€4,581
Gross operating margin
+€10,838
Depreciation
-€17,097
Other operating charges
+€8,347
Financial charges
-€1,976
Result 2025
-€4,469
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€237,652
Investment
-€1.1m
Financing
+€832,928
Cash 2024
€3,067
From operations (derived)
+€237,652
Net result for the year
-€4,469
Depreciation
+€77,442
Smaller working-capital items
-€2,612
Deferred charges and accrued income
-€22,285
Provisions
-€2,843
Trade debts
+€9,543
Other debts
+€182,874
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Financing
+€832,928
Debts after one year
+€831,121
Current portion of long-term debt
+€1,807
Cash 2025
€9,362
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,362,807 | €2,380,704 | +€1.0m | +74.7% |
| Fixed assets | 21/28 | €1,358,024 | €2,344,867 | +€986,843 | +72.7% |
| Tangible fixed assets | 22/27 | €1,358,024 | €2,344,867 | +€986,843 | +72.7% |
| Land and buildings | 22 | €1,348,403 | €2,337,814 | +€989,411 | +73.4% |
| Plant, machinery and equipment | 23 | €3,554 | €2,199 | -€1,355 | -38.1% |
| Furniture and vehicles | 24 | €6,067 | €4,854 | -€1,213 | -20.0% |
| Current assets | 29/58 | €4,783 | €35,837 | +€31,054 | +649% |
| Amounts receivable within one year | 40/41 | - | €2,475 | +€2,475 | |
| Other amounts receivable | 41 | - | €2,475 | +€2,475 | |
| Cash at bank and in hand | 54/58 | €3,067 | €9,362 | +€6,295 | +205% |
| Deferred charges and accrued income | 490/1 | €1,715 | €24,000 | +€22,285 | +1,299% |
| Total equity and liabilities | 10/49 | €1,362,807 | €2,380,704 | +€1.0m | +74.7% |
| Equity | 10/15 | €232,139 | €227,671 | -€4,469 | -1.9% |
| Contributions | 10/11 | €333,600 | €333,600 | = | 0.0% |
| Reserves | 13 | €17,373 | €8,843 | -€8,530 | -49.1% |
| Tax-exempt reserves | 132 | €17,373 | €8,843 | -€8,530 | -49.1% |
| Profit (loss) carried forward | 14 | -€118,834 | -€114,772 | +€4,061 | +3.4% |
| Provisions and deferred taxes | 16 | €5,791 | €2,948 | -€2,843 | -49.1% |
| Deferred taxes | 168 | €5,791 | €2,948 | -€2,843 | -49.1% |
| Amounts payable | 17/49 | €1,124,877 | €2,150,086 | +€1.0m | +91.1% |
| Amounts payable after more than one year | 17 | €672,117 | €1,503,238 | +€831,121 | +124% |
| Financial debts | 170/4 | €672,117 | €1,503,238 | +€831,121 | +124% |
| Amounts payable within one year | 42/48 | €451,155 | €645,380 | +€194,225 | +43.1% |
| Current portion of amounts payable after more than one year | 42 | €72,844 | €74,651 | +€1,807 | +2.5% |
| Trade debts | 44 | €4,957 | €14,500 | +€9,543 | +193% |
| Suppliers | 440/4 | €4,957 | €14,500 | +€9,543 | +193% |
| Other amounts payable | 47/48 | €373,354 | €556,229 | +€182,874 | +49.0% |
| Accrued charges and deferred income | 492/3 | €1,605 | €1,468 | -€137 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,346 | €77,442 | +€17,097 | +28.3% |
| Other operating charges | 640/8 | €9,570 | €1,223 | -€8,347 | -87.2% |
| Gross operating margin | 9900 | €83,127 | €93,965 | +€10,838 | +13.0% |
| Operating profit (loss) | 9901 | €13,212 | €15,300 | +€2,089 | +15.8% |
| Financial charges | 65/66B | €20,636 | €22,612 | +€1,976 | +9.6% |
| Recurring financial charges | 65 | €20,636 | €22,612 | +€1,976 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,424 | -€7,312 | +€112 | +1.5% |
| Transfer from deferred taxes | 780 | €2,843 | €2,843 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€4,581 | -€4,469 | +€112 | +2.4% |
| Transfer from tax-exempt reserves | 789 | €8,530 | €8,530 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,949 | €4,061 | +€112 | +2.8% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.