IMMO-BIE-LIEN: 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-BIE-LIEN
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
€55,866
2024 · €29,245+€26,621
Equity
€745,377
2024 · €697,508+€47,869
Cash
€40,547
2024 · €25,582+€14,964
Balance sheet total
€1.5m
2024 · €1.6m-€115,845
Largest movements
Assets
- Tangible fixed assets -€133,385
down €133,385 (-8.5%), from €1.6m to €1.4m
Equity and liabilities
- Debts after one year -€173,833
down €173,833 (-22.8%), from €761,167 to €587,333
- Profit (loss) carried forward +€55,866
up €55,866 (+14.7%), from €381,247 to €437,113
Income statement
- Financial charges -€17,977
down €17,977 (-38.7%), from €46,509 to €28,532
- Gross operating margin +€17,703
up €17,703 (+7.5%), from €237,333 to €255,036
- Taxes +€9,165
up €9,165 (+122%), from €7,482 to €16,647
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
€29,245
Gross operating margin
+€17,703
Other operating charges
-€375
Financial income
+€481
Financial charges
+€17,977
Taxes
-€9,165
Result 2025
€55,866
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
+€196,795
Investment
€0
Financing
-€181,830
Cash 2024
€25,582
From operations (derived)
+€196,795
Net result for the year
+€55,866
Depreciation
+€133,385
Receivables within one year
-€1,575
Deferred charges and accrued income
-€1,000
Trade debts
+€1,846
Tax, wage and social debts
+€8,273
Financing
-€181,830
Debts after one year
-€173,833
Current portion of long-term debt
-€0
Contributions, distributions and other
-€7,997
Cash 2025
€40,547
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,643,728 | €1,527,882 | -€115,845 | -7.0% |
| Fixed assets | 21/28 | €1,560,992 | €1,427,607 | -€133,385 | -8.5% |
| Tangible fixed assets | 22/27 | €1,560,992 | €1,427,607 | -€133,385 | -8.5% |
| Land and buildings | 22 | €1,560,992 | €1,427,607 | -€133,385 | -8.5% |
| Current assets | 29/58 | €82,736 | €100,276 | +€17,540 | +21.2% |
| Amounts receivable within one year | 40/41 | €57,154 | €58,729 | +€1,575 | +2.8% |
| Trade receivables | 40 | €57,154 | €19,051 | -€38,102 | -66.7% |
| Other amounts receivable | 41 | €0 | €39,678 | +€39,678 | |
| Cash at bank and in hand | 54/58 | €25,582 | €40,547 | +€14,964 | +58.5% |
| Deferred charges and accrued income | 490/1 | - | €1,000 | +€1,000 | |
| Total equity and liabilities | 10/49 | €1,643,728 | €1,527,882 | -€115,845 | -7.0% |
| Equity | 10/15 | €697,508 | €745,377 | +€47,869 | +6.9% |
| Contributions | 10/11 | €110,700 | €110,700 | = | 0.0% |
| Capital | 10 | €110,700 | €110,700 | = | 0.0% |
| Issued capital | 100 | €113,100 | €113,100 | = | 0.0% |
| Uncalled capital | 101 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €171,278 | €171,278 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,310 | €11,310 | = | 0.0% |
| Legal reserve | 130 | €11,310 | €11,310 | = | 0.0% |
| Distributable reserves | 133 | €159,968 | €159,968 | = | 0.0% |
| Profit (loss) carried forward | 14 | €381,247 | €437,113 | +€55,866 | +14.7% |
| Investment grants | 15 | €34,283 | €26,286 | -€7,997 | -23.3% |
| Amounts payable | 17/49 | €946,220 | €782,505 | -€163,714 | -17.3% |
| Amounts payable after more than one year | 17 | €761,167 | €587,333 | -€173,833 | -22.8% |
| Financial debts | 170/4 | €761,167 | €587,333 | -€173,833 | -22.8% |
| Amounts payable within one year | 42/48 | €185,053 | €195,172 | +€10,119 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €173,833 | €173,833 | -€0 | 0.0% |
| Trade debts | 44 | €846 | €2,692 | +€1,846 | +218% |
| Suppliers | 440/4 | €846 | €2,692 | +€1,846 | +218% |
| Taxes, remuneration and social security | 45 | €10,373 | €18,647 | +€8,273 | +79.8% |
| Taxes | 450/3 | €10,373 | €18,647 | +€8,273 | +79.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €2,500 | +€2,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,385 | €133,385 | = | 0.0% |
| Other operating charges | 640/8 | €28,905 | €29,281 | +€375 | +1.3% |
| Gross operating margin | 9900 | €237,333 | €255,036 | +€17,703 | +7.5% |
| Operating profit (loss) | 9901 | €75,043 | €92,371 | +€17,328 | +23.1% |
| Financial income | 75/76B | €8,194 | €8,675 | +€481 | +5.9% |
| Recurring financial income | 75 | €8,194 | €8,675 | +€481 | +5.9% |
| Financial charges | 65/66B | €46,509 | €28,532 | -€17,977 | -38.7% |
| Recurring financial charges | 65 | €46,509 | €28,532 | -€17,977 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | €36,727 | €72,513 | +€35,786 | +97.4% |
| Income taxes | 67/77 | €7,482 | €16,647 | +€9,165 | +122% |
| Profit (loss) for the period | 9904 | €29,245 | €55,866 | +€26,621 | +91.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,245 | €55,866 | +€26,621 | +91.0% |
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 15 October 2026 via checked.be.