IMMO BELTEC: 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 BELTEC
Largest movements
- Cash +€37,253
up €37,253 (+87.0%), from €42,825 to €80,078
mainly Depreciation (+€19,292) and Net result for the year (+€17,218)
- Tangible fixed assets -€19,292
down €19,292 (-5.4%), from €358,926 to €339,634
- Reserves +€17,218
up €17,218 (+4.6%), from €373,194 to €390,412
- Gross operating margin -€6,693
down €6,693 (-11.9%), from €56,440 to €49,747
- Taxes -€2,165
down €2,165 (-27.4%), from €7,905 to €5,739
- Other operating charges +€884
up €884 (+13.5%), from €6,565 to €7,449
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 | €401,767 | €419,725 | +€17,957 | +4.5% |
| Fixed assets | 21/28 | €358,926 | €339,634 | -€19,292 | -5.4% |
| Tangible fixed assets | 22/27 | €358,926 | €339,634 | -€19,292 | -5.4% |
| Land and buildings | 22 | €358,926 | €339,634 | -€19,292 | -5.4% |
| Current assets | 29/58 | €42,841 | €80,090 | +€37,249 | +86.9% |
| Amounts receivable within one year | 40/41 | €16 | €12 | -€4 | -24.0% |
| Other amounts receivable | 41 | €16 | €12 | -€4 | -24.0% |
| Cash at bank and in hand | 54/58 | €42,825 | €80,078 | +€37,253 | +87.0% |
| Total equity and liabilities | 10/49 | €401,767 | €419,725 | +€17,957 | +4.5% |
| Equity | 10/15 | €400,863 | €418,081 | +€17,218 | +4.3% |
| Contributions | 10/11 | €27,669 | €27,669 | = | 0.0% |
| Reserves | 13 | €373,194 | €390,412 | +€17,218 | +4.6% |
| Distributable reserves | 133 | €373,194 | €390,412 | +€17,218 | +4.6% |
| Amounts payable | 17/49 | €905 | €1,644 | +€739 | +81.7% |
| Amounts payable within one year | 42/48 | €905 | €1,644 | +€739 | +81.7% |
| Taxes, remuneration and social security | 45 | €905 | €1,644 | +€739 | +81.7% |
| Taxes | 450/3 | €905 | €1,644 | +€739 | +81.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,292 | €19,292 | -€0 | 0.0% |
| Other operating charges | 640/8 | €6,565 | €7,449 | +€884 | +13.5% |
| Gross operating margin | 9900 | €56,440 | €49,747 | -€6,693 | -11.9% |
| Operating profit (loss) | 9901 | €30,582 | €23,006 | -€7,576 | -24.8% |
| Financial charges | 65/66B | €33 | €49 | +€16 | +46.9% |
| Recurring financial charges | 65 | €33 | €49 | +€16 | +46.9% |
| Profit (loss) for the period before taxes | 9903 | €30,549 | €22,957 | -€7,592 | -24.9% |
| Income taxes | 67/77 | €7,905 | €5,739 | -€2,165 | -27.4% |
| Profit (loss) for the period | 9904 | €22,644 | €17,218 | -€5,426 | -24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,644 | €17,218 | -€5,426 | -24.0% |
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 6 October 2026 via checked.be.