IMMO - BENELUX: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
What changed
IMMO - BENELUX
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€34,608
2024 · €209,209-€243,817
Equity
€1.8m
2024 · €1.8m-€34,608
Cash
€7,045
2024 · €27,456-€20,411
Balance sheet total
€3.7m
2024 · €3.7m-€49,990
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year +€231,004
up €231,004 (+14.9%), from €1.5m to €1.8m
of which Financial debts: +€233,442
- Short-term financial debts -€214,330
no longer reported in 2025 (was €214,330)
Income statement
- Gross operating margin -€330,978
down €330,978 (-83.7%), from €395,336 to €64,358
- Financial charges -€44,917
down €44,917 (-83.7%), from €53,647 to €8,731
- Taxes -€34,743
down €34,743 (-99.4%), from €34,957 to €214
- Staff costs -€6,232
down €6,232 (-14.1%), from €44,286 to €38,054
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
€209,209
Gross operating margin
-€330,978
Staff costs
+€6,232
Depreciation
-€657
Other operating charges
+€1,926
Financial income
-€0
Financial charges
+€44,917
Taxes
+€34,743
Result 2025
-€34,608
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
-€26,361
Investment
-€10,725
Financing
+€16,674
Cash 2024
€27,456
From operations (derived)
-€26,361
Net result for the year
-€34,608
Depreciation
+€32,926
Receivables within one year
+€7,024
Deferred charges and accrued income
+€353
Provisions
-€2,557
Trade debts
-€6,160
Tax, wage and social debts
-€4,963
Other debts
-€18,376
Investment (derived)
-€10,725
Investment in fixed assets (net)
-€10,725
Financing
+€16,674
Debts after one year
+€231,004
Short-term financial debts
-€214,330
Cash 2025
€7,045
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,714,174 | €3,664,183 | -€49,990 | -1.3% |
| Fixed assets | 21/28 | €3,679,305 | €3,657,103 | -€22,201 | -0.6% |
| Intangible fixed assets | 21 | €2,643,204 | €2,643,204 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,025,853 | €1,003,652 | -€22,201 | -2.2% |
| Land and buildings | 22 | €1,025,284 | €1,001,410 | -€23,874 | -2.3% |
| Furniture and vehicles | 24 | €569 | €2,242 | +€1,673 | +294% |
| Financial fixed assets | 28 | €10,247 | €10,247 | = | 0.0% |
| Current assets | 29/58 | €34,869 | €7,080 | -€27,789 | -79.7% |
| Amounts receivable within one year | 40/41 | €7,060 | €35 | -€7,024 | -99.5% |
| Trade receivables | 40 | €7,018 | - | -€7,018 | |
| Other amounts receivable | 41 | €42 | €35 | -€6 | -15.3% |
| Cash at bank and in hand | 54/58 | €27,456 | €7,045 | -€20,411 | -74.3% |
| Deferred charges and accrued income | 490/1 | €353 | - | -€353 | |
| Total equity and liabilities | 10/49 | €3,714,174 | €3,664,183 | -€49,990 | -1.3% |
| Equity | 10/15 | €1,805,284 | €1,770,676 | -€34,608 | -1.9% |
| Contributions | 10/11 | €675,600 | €675,600 | = | 0.0% |
| Capital | 10 | €675,600 | €675,600 | = | 0.0% |
| Issued capital | 100 | €675,600 | €675,600 | = | 0.0% |
| Revaluation surpluses | 12 | €2,649,723 | €2,649,723 | = | 0.0% |
| Reserves | 13 | €192,569 | €184,897 | -€7,671 | -4.0% |
| Tax-exempt reserves | 132 | €185,709 | €178,037 | -€7,671 | -4.1% |
| Distributable reserves | 133 | €6,860 | €6,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,712,607 | -€1,739,544 | -€26,937 | -1.6% |
| Provisions and deferred taxes | 16 | €61,903 | €59,346 | -€2,557 | -4.1% |
| Deferred taxes | 168 | €61,903 | €59,346 | -€2,557 | -4.1% |
| Amounts payable | 17/49 | €1,846,987 | €1,834,162 | -€12,825 | -0.7% |
| Amounts payable after more than one year | 17 | €1,547,820 | €1,778,824 | +€231,004 | +14.9% |
| Financial debts | 170/4 | €1,425,862 | €1,659,304 | +€233,442 | +16.4% |
| Other amounts payable | 178/9 | €121,958 | €119,520 | -€2,438 | -2.0% |
| Amounts payable within one year | 42/48 | €299,167 | €55,338 | -€243,829 | -81.5% |
| Financial debts | 43 | €214,330 | - | -€214,330 | |
| Credit institutions | 430/8 | €214,330 | - | -€214,330 | |
| Trade debts | 44 | €8,483 | €2,322 | -€6,160 | -72.6% |
| Suppliers | 440/4 | €8,483 | €2,322 | -€6,160 | -72.6% |
| Taxes, remuneration and social security | 45 | €56,159 | €51,196 | -€4,963 | -8.8% |
| Taxes | 450/3 | €36,260 | €36,407 | +€147 | +0.4% |
| Remuneration and social security | 454/9 | €19,898 | €14,788 | -€5,110 | -25.7% |
| Other amounts payable | 47/48 | €20,196 | €1,820 | -€18,376 | -91.0% |
| Non-recurring operating income | 76A | €307,018 | - | -€307,018 | |
| Remuneration, social security and pensions | 62 | €44,286 | €38,054 | -€6,232 | -14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,269 | €32,926 | +€657 | +2.0% |
| Other operating charges | 640/8 | €23,524 | €21,598 | -€1,926 | -8.2% |
| Gross operating margin | 9900 | €395,336 | €64,358 | -€330,978 | -83.7% |
| Operating profit (loss) | 9901 | €295,257 | -€28,220 | -€323,477 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €53,647 | €8,731 | -€44,917 | -83.7% |
| Recurring financial charges | 65 | €53,647 | €8,731 | -€44,917 | -83.7% |
| Profit (loss) for the period before taxes | 9903 | €241,609 | -€36,951 | -€278,560 | |
| Transfer from deferred taxes | 780 | €2,557 | €2,557 | = | 0.0% |
| Income taxes | 67/77 | €34,957 | €214 | -€34,743 | -99.4% |
| Profit (loss) for the period | 9904 | €209,209 | -€34,608 | -€243,817 | |
| Transfer from tax-exempt reserves | 789 | €7,671 | €7,671 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €216,880 | -€26,937 | -€243,817 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.