IMMO BE: 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 BE
Largest movements
- Tangible fixed assets +€629,474
up €629,474 (+36.6%), from €1.7m to €2.3m
of which Land and buildings: +€626,830
- Stocks and contracts +€247,378
up €247,378 (+738%), from €33,520 to €280,898
- Cash +€37,197
up €37,197 (+518%), from €7,185 to €44,382
mainly Short-term financial debts (+€580,306) and Trade debts (+€310,499)
- Short-term financial debts +€580,306
up €580,306 (+95,739%), from €606 to €580,912
- Trade debts +€310,499
up €310,499 (+4,195%), from €7,401 to €317,900
- Other debts +€135,527
up €135,527 (+17.3%), from €783,742 to €919,270
- Debts after one year -€61,515
down €61,515 (-8.0%), from €765,503 to €703,988
- Tax, wage and social debts -€38,845
down €38,845 (-73.7%), from €52,723 to €13,878
of which Taxes: -€38,845
- Gross operating margin +€47,516
up €47,516 (+44.3%), from €107,327 to €154,844
- Depreciation +€28,102
up €28,102 (+45.6%), from €61,613 to €89,715
- Financial charges -€7,602
down €7,602 (-12.6%), from €60,505 to €52,903
- Financial income -€2,194
down €2,194 (-100.0%), from €2,194 to €0
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,118,252 | €3,050,625 | +€932,373 | +44.0% |
| Fixed assets | 21/28 | €1,719,113 | €2,349,353 | +€630,239 | +36.7% |
| Intangible fixed assets | 21 | - | €765 | +€765 | |
| Tangible fixed assets | 22/27 | €1,719,113 | €2,348,588 | +€629,474 | +36.6% |
| Land and buildings | 22 | €1,696,987 | €2,323,817 | +€626,830 | +36.9% |
| Plant, machinery and equipment | 23 | €5,307 | €4,360 | -€947 | -17.9% |
| Furniture and vehicles | 24 | €16,819 | €20,411 | +€3,592 | +21.4% |
| Current assets | 29/58 | €399,139 | €701,272 | +€302,133 | +75.7% |
| Stocks and contracts in progress | 3 | €33,520 | €280,898 | +€247,378 | +738% |
| Stocks | 30/36 | €33,520 | €280,898 | +€247,378 | +738% |
| Amounts receivable within one year | 40/41 | €354,645 | €374,610 | +€19,965 | +5.6% |
| Trade receivables | 40 | €302,916 | €357,393 | +€54,477 | +18.0% |
| Other amounts receivable | 41 | €51,729 | €17,216 | -€34,512 | -66.7% |
| Cash at bank and in hand | 54/58 | €7,185 | €44,382 | +€37,197 | +518% |
| Deferred charges and accrued income | 490/1 | €3,789 | €1,383 | -€2,406 | -63.5% |
| Total equity and liabilities | 10/49 | €2,118,252 | €3,050,625 | +€932,373 | +44.0% |
| Equity | 10/15 | €448,433 | €453,163 | +€4,730 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €429,833 | €434,563 | +€4,730 | +1.1% |
| Distributable reserves | 133 | €429,833 | €434,563 | +€4,730 | +1.1% |
| Amounts payable | 17/49 | €1,669,819 | €2,597,462 | +€927,643 | +55.6% |
| Amounts payable after more than one year | 17 | €765,503 | €703,988 | -€61,515 | -8.0% |
| Financial debts | 170/4 | €765,503 | €703,988 | -€61,515 | -8.0% |
| Amounts payable within one year | 42/48 | €903,715 | €1,893,474 | +€989,758 | +110% |
| Current portion of amounts payable after more than one year | 42 | €59,243 | €61,515 | +€2,271 | +3.8% |
| Financial debts | 43 | €606 | €580,912 | +€580,306 | +95,739% |
| Credit institutions | 430/8 | €606 | €580,912 | +€580,306 | +95,739% |
| Trade debts | 44 | €7,401 | €317,900 | +€310,499 | +4,195% |
| Suppliers | 440/4 | €7,401 | €317,900 | +€310,499 | +4,195% |
| Taxes, remuneration and social security | 45 | €52,723 | €13,878 | -€38,845 | -73.7% |
| Taxes | 450/3 | €49,723 | €10,878 | -€38,845 | -78.1% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €783,742 | €919,270 | +€135,527 | +17.3% |
| Accrued charges and deferred income | 492/3 | €601 | - | -€601 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,613 | €89,715 | +€28,102 | +45.6% |
| Other operating charges | 640/8 | €6,615 | €5,785 | -€830 | -12.5% |
| Non-recurring operating charges | 66A | €339 | - | -€339 | |
| Gross operating margin | 9900 | €107,327 | €154,844 | +€47,516 | +44.3% |
| Operating profit (loss) | 9901 | €38,759 | €59,343 | +€20,584 | +53.1% |
| Financial income | 75/76B | €2,194 | €0 | -€2,194 | -100.0% |
| Recurring financial income | 75 | €2,194 | €0 | -€2,194 | -100.0% |
| Financial charges | 65/66B | €60,505 | €52,903 | -€7,602 | -12.6% |
| Recurring financial charges | 65 | €60,505 | €52,903 | -€7,602 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | -€19,551 | €6,440 | +€25,991 | |
| Income taxes | 67/77 | €426 | €1,711 | +€1,285 | +302% |
| Profit (loss) for the period | 9904 | -€19,977 | €4,730 | +€24,706 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,977 | €4,730 | +€24,706 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.