Immo Breydel: 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 Breydel
Largest movements
- Cash -€15,726
down €15,726 (-39.8%), from €39,491 to €23,764
mainly Investment in fixed assets (net) (-€25,387) and Other debts (-€19,612)
- Tangible fixed assets +€5,924
up €5,924 (+1.1%), from €520,645 to €526,568
of which Land and buildings: +€5,957
- Other debts -€19,612
down €19,612 (-36.8%), from €53,288 to €33,677
- Profit (loss) carried forward +€9,789
up €9,789 (+2.5%), from -€389,001 to -€379,211
- Gross operating margin -€5,883
down €5,883 (-11.1%), from €52,908 to €47,026
- Depreciation +€1,321
up €1,321 (+7.3%), from €18,142 to €19,463
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 | €563,611 | €553,907 | -€9,704 | -1.7% |
| Fixed assets | 21/28 | €521,853 | €527,777 | +€5,924 | +1.1% |
| Tangible fixed assets | 22/27 | €520,645 | €526,568 | +€5,924 | +1.1% |
| Land and buildings | 22 | €520,482 | €526,438 | +€5,957 | +1.1% |
| Plant, machinery and equipment | 23 | €163 | €130 | -€33 | -20.0% |
| Financial fixed assets | 28 | €1,209 | €1,209 | = | 0.0% |
| Current assets | 29/58 | €41,758 | €26,130 | -€15,628 | -37.4% |
| Current investments | 50/53 | €281 | €253 | -€28 | -10.0% |
| Cash at bank and in hand | 54/58 | €39,491 | €23,764 | -€15,726 | -39.8% |
| Deferred charges and accrued income | 490/1 | €1,985 | €2,112 | +€127 | +6.4% |
| Total equity and liabilities | 10/49 | €563,611 | €553,907 | -€9,704 | -1.7% |
| Equity | 10/15 | €509,663 | €519,452 | +€9,789 | +1.9% |
| Contributions | 10/11 | €876,000 | €876,000 | = | 0.0% |
| Capital | 10 | €876,000 | €876,000 | = | 0.0% |
| Issued capital | 100 | €876,000 | €876,000 | = | 0.0% |
| Reserves | 13 | €22,663 | €22,663 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,663 | €22,663 | = | 0.0% |
| Legal reserve | 130 | €22,663 | €22,663 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€389,001 | -€379,211 | +€9,789 | +2.5% |
| Amounts payable | 17/49 | €53,948 | €34,455 | -€19,493 | -36.1% |
| Amounts payable within one year | 42/48 | €53,568 | €34,075 | -€19,493 | -36.4% |
| Trade debts | 44 | €280 | €398 | +€118 | +42.3% |
| Suppliers | 440/4 | €280 | €398 | +€118 | +42.3% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €53,288 | €33,677 | -€19,612 | -36.8% |
| Accrued charges and deferred income | 492/3 | €380 | €380 | +€0 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,142 | €19,463 | +€1,321 | +7.3% |
| Other operating charges | 640/8 | €16,767 | €17,154 | +€387 | +2.3% |
| Gross operating margin | 9900 | €52,908 | €47,026 | -€5,883 | -11.1% |
| Operating profit (loss) | 9901 | €17,999 | €10,408 | -€7,591 | -42.2% |
| Financial income | 75/76B | €3 | €4 | +€1 | +20.5% |
| Recurring financial income | 75 | €3 | €4 | +€1 | +20.5% |
| Financial charges | 65/66B | €565 | €621 | +€57 | +10.0% |
| Recurring financial charges | 65 | €565 | €621 | +€57 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €17,437 | €9,791 | -€7,647 | -43.9% |
| Income taxes | 67/77 | -€20 | €1 | +€21 | |
| Profit (loss) for the period | 9904 | €17,457 | €9,789 | -€7,668 | -43.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,457 | €9,789 | -€7,668 | -43.9% |
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 13 October 2026 via checked.be.