IMMO BLARENBERG: 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 BLARENBERG
Largest movements
- Tangible fixed assets +€151,204
up €151,204 (+8.3%), from €1.8m to €2.0m
of which Assets under construction and advance payments: +€164,479
- Receivables within one year -€47,523
down €47,523 (-51.7%), from €91,995 to €44,472
of which Other amounts receivable: -€27,597
- Cash +€31,868
up €31,868 (+910%), from €3,503 to €35,371
mainly Debts after one year (+€290,000) and Other debts (+€224,488)
- Debts after one year +€290,000
new in 2025: €290,000
- Current portion of long-term debt -€290,000
no longer reported in 2025 (was €290,000)
- Other debts +€224,488
up €224,488 (+65.6%), from €342,289 to €566,777
- Trade debts -€73,913
down €73,913 (-44.4%), from €166,540 to €92,627
- Profit (loss) carried forward -€36,461
down €36,461 (-21.4%), from -€170,705 to -€207,166
- Gross operating margin +€73,030
up €73,030 (+87.5%), from -€83,500 to -€10,470
- Taxes +€20,500
up €20,500 (+63.1%), from -€32,500 to -€12,000
- Other operating charges -€8,117
down €8,117 (-40.3%), from €20,138 to €12,021
- Financial charges -€1,182
down €1,182 (-8.5%), from €13,877 to €12,695
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,924,964 | €2,062,815 | +€137,851 | +7.2% |
| Fixed assets | 21/28 | €1,829,466 | €1,980,670 | +€151,204 | +8.3% |
| Tangible fixed assets | 22/27 | €1,829,466 | €1,980,670 | +€151,204 | +8.3% |
| Land and buildings | 22 | €1,455,350 | €1,442,075 | -€13,276 | -0.9% |
| Assets under construction and advance payments | 27 | €374,116 | €538,595 | +€164,479 | +44.0% |
| Current assets | 29/58 | €95,498 | €82,146 | -€13,353 | -14.0% |
| Amounts receivable within one year | 40/41 | €91,995 | €44,472 | -€47,523 | -51.7% |
| Trade receivables | 40 | €25,931 | €6,005 | -€19,926 | -76.8% |
| Other amounts receivable | 41 | €66,064 | €38,467 | -€27,597 | -41.8% |
| Cash at bank and in hand | 54/58 | €3,503 | €35,371 | +€31,868 | +910% |
| Deferred charges and accrued income | 490/1 | - | €2,302 | +€2,302 | |
| Total equity and liabilities | 10/49 | €1,924,964 | €2,062,815 | +€137,851 | +7.2% |
| Equity | 10/15 | -€101,405 | -€137,866 | -€36,461 | -36.0% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €6,300 | €6,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€170,705 | -€207,166 | -€36,461 | -21.4% |
| Amounts payable | 17/49 | €2,026,369 | €2,200,682 | +€174,312 | +8.6% |
| Amounts payable after more than one year | 17 | - | €290,000 | +€290,000 | |
| Financial debts | 170/4 | - | €290,000 | +€290,000 | |
| Amounts payable within one year | 42/48 | €1,988,807 | €1,845,851 | -€142,956 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €290,000 | - | -€290,000 | |
| Financial debts | 43 | €1,189,978 | €1,186,447 | -€3,531 | -0.3% |
| Credit institutions | 430/8 | €1,189,978 | €1,186,447 | -€3,531 | -0.3% |
| Trade debts | 44 | €166,540 | €92,627 | -€73,913 | -44.4% |
| Suppliers | 440/4 | €166,540 | €92,627 | -€73,913 | -44.4% |
| Other amounts payable | 47/48 | €342,289 | €566,777 | +€224,488 | +65.6% |
| Accrued charges and deferred income | 492/3 | €37,563 | €64,831 | +€27,268 | +72.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,276 | €13,276 | = | 0.0% |
| Other operating charges | 640/8 | €20,138 | €12,021 | -€8,117 | -40.3% |
| Gross operating margin | 9900 | -€83,500 | -€10,470 | +€73,030 | +87.5% |
| Operating profit (loss) | 9901 | -€116,913 | -€35,766 | +€81,147 | +69.4% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €13,877 | €12,695 | -€1,182 | -8.5% |
| Recurring financial charges | 65 | €13,877 | €12,695 | -€1,182 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | -€130,780 | -€48,461 | +€82,319 | +62.9% |
| Income taxes | 67/77 | -€32,500 | -€12,000 | +€20,500 | +63.1% |
| Profit (loss) for the period | 9904 | -€98,280 | -€36,461 | +€61,819 | +62.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€98,280 | -€36,461 | +€61,819 | +62.9% |
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 24 October 2026 via checked.be.