IMMO BEGONIA: 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.
What changed
IMMO BEGONIA
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€27,514
2024 · -€5,840+€33,354
Equity
€831,051
2024 · €821,537+€9,514
Cash
€18,207
2024 · €9,686+€8,521
Balance sheet total
€1.5m
2024 · €1.5m-€9,748
Largest movements
Assets
- Tangible fixed assets -€27,770
down €27,770 (-1.9%), from €1.4m to €1.4m
of which Land and buildings: -€35,580
Equity and liabilities
- Debts after one year -€21,000
down €21,000 (-4.0%), from €528,944 to €507,944
of which Financial debts: -€21,000
Income statement
- Gross operating margin +€32,943
up €32,943 (+38.5%), from €85,573 to €118,517
- Taxes +€13,365
up €13,365 (+521%), from €2,567 to €15,932
- Depreciation -€8,330
down €8,330 (-18.6%), from €44,829 to €36,500
- Financial charges -€4,320
down €4,320 (-9.0%), from €47,816 to €43,496
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.
Result 2024
-€5,840
Gross operating margin
+€32,943
Depreciation
+€8,330
Other operating charges
+€534
Financial income
+€591
Financial charges
+€4,320
Taxes
-€13,365
Result 2025
€27,514
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€56,742
Investment
-€9,222
Financing
-€39,000
Cash 2024
€9,686
From operations (derived)
+€56,742
Net result for the year
+€27,514
Depreciation
+€36,500
Receivables within one year
-€9,009
Provisions
-€11,702
Trade debts
+€2,981
Tax, wage and social debts
+€14,206
Other debts
-€2,080
Accrued charges and deferred income
-€1,669
Investment (derived)
-€9,222
Investment in fixed assets (net)
-€9,222
Financing
-€39,000
Debts after one year
-€21,000
Contributions, distributions and other
-€18,000
Cash 2025
€18,207
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,459,840 | €1,450,092 | -€9,748 | -0.7% |
| Fixed assets | 21/28 | €1,424,193 | €1,396,915 | -€27,278 | -1.9% |
| Tangible fixed assets | 22/27 | €1,424,193 | €1,396,422 | -€27,770 | -1.9% |
| Land and buildings | 22 | €1,422,851 | €1,387,271 | -€35,580 | -2.5% |
| Plant, machinery and equipment | 23 | €1,342 | €9,152 | +€7,809 | +582% |
| Financial fixed assets | 28 | - | €492 | +€492 | |
| Current assets | 29/58 | €35,648 | €53,177 | +€17,530 | +49.2% |
| Amounts receivable within one year | 40/41 | €25,961 | €34,971 | +€9,009 | +34.7% |
| Trade receivables | 40 | €2,325 | €104 | -€2,221 | -95.5% |
| Other amounts receivable | 41 | €23,636 | €34,867 | +€11,230 | +47.5% |
| Cash at bank and in hand | 54/58 | €9,686 | €18,207 | +€8,521 | +88.0% |
| Total equity and liabilities | 10/49 | €1,459,840 | €1,450,092 | -€9,748 | -0.7% |
| Equity | 10/15 | €821,537 | €831,051 | +€9,514 | +1.2% |
| Contributions | 10/11 | €680,987 | €680,987 | = | 0.0% |
| Capital | 10 | €680,987 | €680,987 | = | 0.0% |
| Issued capital | 100 | €680,987 | €680,987 | = | 0.0% |
| Reserves | 13 | €232,689 | €240,964 | +€8,274 | +3.6% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €148,091 | €125,365 | -€22,726 | -15.3% |
| Distributable reserves | 133 | €81,500 | €112,500 | +€31,000 | +38.0% |
| Profit (loss) carried forward | 14 | -€92,139 | -€90,899 | +€1,240 | +1.3% |
| Provisions and deferred taxes | 16 | €76,255 | €64,553 | -€11,702 | -15.3% |
| Deferred taxes | 168 | €76,255 | €64,553 | -€11,702 | -15.3% |
| Amounts payable | 17/49 | €562,049 | €554,488 | -€7,560 | -1.3% |
| Amounts payable after more than one year | 17 | €528,944 | €507,944 | -€21,000 | -4.0% |
| Financial debts | 170/4 | €521,450 | €500,450 | -€21,000 | -4.0% |
| Other amounts payable | 178/9 | €7,494 | €7,494 | = | 0.0% |
| Amounts payable within one year | 42/48 | €31,436 | €46,544 | +€15,108 | +48.1% |
| Trade debts | 44 | €5,543 | €8,524 | +€2,981 | +53.8% |
| Suppliers | 440/4 | €5,543 | €8,524 | +€2,981 | +53.8% |
| Taxes, remuneration and social security | 45 | €5,814 | €20,020 | +€14,206 | +244% |
| Taxes | 450/3 | €5,814 | €20,020 | +€14,206 | +244% |
| Other amounts payable | 47/48 | €20,080 | €18,000 | -€2,080 | -10.4% |
| Accrued charges and deferred income | 492/3 | €1,669 | - | -€1,669 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,829 | €36,500 | -€8,330 | -18.6% |
| Other operating charges | 640/8 | €8,622 | €8,088 | -€534 | -6.2% |
| Gross operating margin | 9900 | €85,573 | €118,517 | +€32,943 | +38.5% |
| Operating profit (loss) | 9901 | €32,122 | €73,929 | +€41,807 | +130% |
| Financial income | 75/76B | €719 | €1,310 | +€591 | +82.2% |
| Recurring financial income | 75 | €719 | €1,310 | +€591 | +82.2% |
| Financial charges | 65/66B | €47,816 | €43,496 | -€4,320 | -9.0% |
| Recurring financial charges | 65 | €47,816 | €43,496 | -€4,320 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,975 | €31,744 | +€46,719 | |
| Transfer from deferred taxes | 780 | €11,702 | €11,702 | = | 0.0% |
| Income taxes | 67/77 | €2,567 | €15,932 | +€13,365 | +521% |
| Profit (loss) for the period | 9904 | -€5,840 | €27,514 | +€33,354 | |
| Transfer from tax-exempt reserves | 789 | €22,726 | €22,726 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,886 | €50,240 | +€33,354 | +198% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.