IMMO BELLATOR: 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 BELLATOR
Largest movements
- Tangible fixed assets -€35,117
down €35,117 (-4.5%), from €776,601 to €741,484
- Debts after one year -€65,597
down €65,597 (-11.1%), from €591,101 to €525,504
- Profit (loss) carried forward +€18,000
up €18,000, from -€18,000 to €0
- Reserves +€12,278
new in 2025: €12,278
- Taxes +€4,891
new in 2025: €4,891
- Gross operating margin +€3,119
up €3,119 (+3.3%), from €94,299 to €97,417
- Financial charges -€2,334
down €2,334 (-11.5%), from €20,216 to €17,882
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 | €845,227 | €815,981 | -€29,246 | -3.5% |
| Fixed assets | 21/28 | €776,601 | €741,484 | -€35,117 | -4.5% |
| Tangible fixed assets | 22/27 | €776,601 | €741,484 | -€35,117 | -4.5% |
| Land and buildings | 22 | €776,601 | €741,484 | -€35,117 | -4.5% |
| Current assets | 29/58 | €68,626 | €74,497 | +€5,871 | +8.6% |
| Cash at bank and in hand | 54/58 | €68,626 | €74,497 | +€5,871 | +8.6% |
| Total equity and liabilities | 10/49 | €845,227 | €815,981 | -€29,246 | -3.5% |
| Equity | 10/15 | €182,000 | €212,278 | +€30,278 | +16.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | - | €12,278 | +€12,278 | |
| Distributable reserves | 133 | - | €12,278 | +€12,278 | |
| Profit (loss) carried forward | 14 | -€18,000 | €0 | +€18,000 | |
| Amounts payable | 17/49 | €663,227 | €603,703 | -€59,524 | -9.0% |
| Amounts payable after more than one year | 17 | €591,101 | €525,504 | -€65,597 | -11.1% |
| Financial debts | 170/4 | €591,101 | €525,504 | -€65,597 | -11.1% |
| Amounts payable within one year | 42/48 | €60,700 | €69,139 | +€8,440 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €60,700 | €62,766 | +€2,067 | +3.4% |
| Trade debts | 44 | - | €1,482 | +€1,482 | |
| Suppliers | 440/4 | - | €1,482 | +€1,482 | |
| Taxes, remuneration and social security | 45 | - | €4,891 | +€4,891 | |
| Taxes | 450/3 | - | €4,891 | +€4,891 | |
| Accrued charges and deferred income | 492/3 | €11,427 | €9,060 | -€2,367 | -20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,866 | €35,117 | +€251 | +0.7% |
| Other operating charges | 640/8 | €9,214 | €9,249 | +€35 | +0.4% |
| Gross operating margin | 9900 | €94,299 | €97,417 | +€3,119 | +3.3% |
| Operating profit (loss) | 9901 | €50,219 | €53,051 | +€2,832 | +5.6% |
| Financial charges | 65/66B | €20,216 | €17,882 | -€2,334 | -11.5% |
| Recurring financial charges | 65 | €20,216 | €17,882 | -€2,334 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €30,003 | €35,169 | +€5,166 | +17.2% |
| Income taxes | 67/77 | - | €4,891 | +€4,891 | |
| Profit (loss) for the period | 9904 | €30,003 | €30,278 | +€275 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,003 | €30,278 | +€275 | +0.9% |
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 10 October 2026 via checked.be.