Immo Boullanger: 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 Boullanger
Largest movements
- Tangible fixed assets -€39,476
down €39,476 (-1.7%), from €2.3m to €2.2m
- Cash +€24,570
up €24,570 (+45.9%), from €53,492 to €78,062
mainly Depreciation (+€46,813) and Deferred charges and accrued income (+€289)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€20,433
up €20,433 (+110%), from €18,631 to €39,064
- Depreciation +€1,619
up €1,619 (+3.6%), from €45,194 to €46,813
- Financial income +€1,573
up €1,573 (+298%), from €527 to €2,100
- Financial charges -€787
down €787 (-43.7%), from €1,800 to €1,013
- Other operating charges +€402
up €402 (+5.9%), from €6,824 to €7,226
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 | €2,364,202 | €2,349,547 | -€14,656 | -0.6% |
| Fixed assets | 21/28 | €2,285,998 | €2,246,523 | -€39,476 | -1.7% |
| Tangible fixed assets | 22/27 | €2,285,998 | €2,246,523 | -€39,476 | -1.7% |
| Land and buildings | 22 | €2,285,998 | €2,246,523 | -€39,476 | -1.7% |
| Current assets | 29/58 | €78,204 | €103,024 | +€24,820 | +31.7% |
| Amounts receivable within one year | 40/41 | €150 | €689 | +€539 | +360% |
| Trade receivables | 40 | - | €204 | +€204 | |
| Other amounts receivable | 41 | €150 | €485 | +€335 | +223% |
| Current investments | 50/53 | €22,102 | €22,102 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €53,492 | €78,062 | +€24,570 | +45.9% |
| Deferred charges and accrued income | 490/1 | €2,460 | €2,171 | -€289 | -11.8% |
| Total equity and liabilities | 10/49 | €2,364,202 | €2,349,547 | -€14,656 | -0.6% |
| Equity | 10/15 | €2,209,142 | €2,195,263 | -€13,879 | -0.6% |
| Contributions | 10/11 | €1,300,000 | €1,300,000 | = | 0.0% |
| Capital | 10 | €1,300,000 | €1,300,000 | = | 0.0% |
| Issued capital | 100 | €1,300,000 | €1,300,000 | = | 0.0% |
| Reserves | 13 | €961,266 | €961,266 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200,000 | €200,000 | = | 0.0% |
| Legal reserve | 130 | €200,000 | €200,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €950 | €950 | = | 0.0% |
| Distributable reserves | 133 | €760,316 | €760,316 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,124 | -€66,003 | -€13,879 | -26.6% |
| Amounts payable | 17/49 | €155,060 | €154,284 | -€776 | -0.5% |
| Amounts payable within one year | 42/48 | €155,060 | €154,284 | -€776 | -0.5% |
| Trade debts | 44 | €297 | - | -€297 | |
| Suppliers | 440/4 | €297 | - | -€297 | |
| Other amounts payable | 47/48 | €154,763 | €154,284 | -€479 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,194 | €46,813 | +€1,619 | +3.6% |
| Other operating charges | 640/8 | €6,824 | €7,226 | +€402 | +5.9% |
| Gross operating margin | 9900 | €18,631 | €39,064 | +€20,433 | +110% |
| Operating profit (loss) | 9901 | -€33,386 | -€14,975 | +€18,412 | +55.1% |
| Financial income | 75/76B | €527 | €2,100 | +€1,573 | +298% |
| Recurring financial income | 75 | €527 | €2,100 | +€1,573 | +298% |
| Financial charges | 65/66B | €1,800 | €1,013 | -€787 | -43.7% |
| Recurring financial charges | 65 | €1,800 | €1,013 | -€787 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | -€34,659 | -€13,888 | +€20,771 | +59.9% |
| Income taxes | 67/77 | €9 | -€9 | -€18 | |
| Profit (loss) for the period | 9904 | -€34,668 | -€13,879 | +€20,789 | +60.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,668 | -€13,879 | +€20,789 | +60.0% |
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 18 October 2026 via checked.be.