IMMO.BUGLIA: what changed
What changed
IMMO.BUGLIA
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
-€101,971
2024 · -€69,016-€32,955
Equity
€192,527
2024 · €53,889+€138,638
Cash
€238,336
2024 · €246,499-€8,163
Balance sheet total
€2.5m
2024 · €2.1m+€480,414
Largest movements
Assets
- Tangible fixed assets +€515,730
up €515,730 (+29.0%), from €1.8m to €2.3m
of which Land and buildings: +€484,620
- Receivables within one year -€26,562
down €26,562 (-96.8%), from €27,443 to €880
of which Trade receivables: -€26,683
Equity and liabilities
- Debts after one year +€391,009
up €391,009 (+31.7%), from €1.2m to €1.6m
- Reserves +€227,680
up €227,680 (+218%), from €104,304 to €331,985
of which Distributable reserves: +€163,666
- Profit (loss) carried forward -€107,642
down €107,642 (-156%), from -€69,016 to -€176,658
- Tax, wage and social debts -€47,235
down €47,235 (-89.2%), from €52,981 to €5,746
- Other debts -€34,947
down €34,947 (-5.3%), from €657,540 to €622,593
Income statement
- Gross operating margin +€71,506
up €71,506, from -€10,311 to €61,195
- Depreciation +€64,962
up €64,962 (+153%), from €42,502 to €107,463
- Financial charges +€38,523
up €38,523 (+273%), from €14,119 to €52,642
- Other operating charges +€976
up €976 (+46.8%), from €2,084 to €3,060
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
-€69,016
Gross operating margin
+€71,506
Depreciation
-€64,962
Other operating charges
-€976
Financial income
-€0
Financial charges
-€38,523
Result 2025
-€101,971
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
-€45,341
Investment
-€623,193
Financing
+€660,370
Cash 2024
€246,499
From operations (derived)
-€45,341
Net result for the year
-€101,971
Depreciation
+€107,463
Receivables within one year
+€26,562
Deferred charges and accrued income
+€590
Trade debts
+€1,797
Tax, wage and social debts
-€47,235
Other debts
-€34,947
Accrued charges and deferred income
+€2,400
Investment (derived)
-€623,193
Investment in fixed assets (net)
-€623,193
Financing
+€660,370
Debts after one year
+€391,009
Current portion of long-term debt
+€28,752
Contributions, distributions and other
+€240,609
Cash 2025
€238,336
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,052,017 | €2,532,431 | +€480,414 | +23.4% |
| Fixed assets | 21/28 | €1,776,188 | €2,291,917 | +€515,730 | +29.0% |
| Tangible fixed assets | 22/27 | €1,776,188 | €2,291,917 | +€515,730 | +29.0% |
| Land and buildings | 22 | €1,756,075 | €2,240,695 | +€484,620 | +27.6% |
| Furniture and vehicles | 24 | €1,668 | €25,690 | +€24,022 | +1,440% |
| Other tangible fixed assets | 26 | €18,445 | €25,533 | +€7,088 | +38.4% |
| Current assets | 29/58 | €275,830 | €240,514 | -€35,316 | -12.8% |
| Amounts receivable within one year | 40/41 | €27,443 | €880 | -€26,562 | -96.8% |
| Trade receivables | 40 | €27,443 | €760 | -€26,683 | -97.2% |
| Other amounts receivable | 41 | - | €121 | +€121 | |
| Cash at bank and in hand | 54/58 | €246,499 | €238,336 | -€8,163 | -3.3% |
| Deferred charges and accrued income | 490/1 | €1,888 | €1,297 | -€590 | -31.3% |
| Total equity and liabilities | 10/49 | €2,052,017 | €2,532,431 | +€480,414 | +23.4% |
| Equity | 10/15 | €53,889 | €192,527 | +€138,638 | +257% |
| Contributions | 10/11 | €18,600 | €37,200 | +€18,600 | +100% |
| Reserves | 13 | €104,304 | €331,985 | +€227,680 | +218% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | - | €65,875 | +€65,875 | |
| Distributable reserves | 133 | €102,444 | €266,110 | +€163,666 | +160% |
| Profit (loss) carried forward | 14 | -€69,016 | -€176,658 | -€107,642 | -156% |
| Amounts payable | 17/49 | €1,998,129 | €2,339,904 | +€341,776 | +17.1% |
| Amounts payable after more than one year | 17 | €1,235,268 | €1,626,278 | +€391,009 | +31.7% |
| Financial debts | 170/4 | €1,235,268 | €1,626,278 | +€391,009 | +31.7% |
| Amounts payable within one year | 42/48 | €762,860 | €711,227 | -€51,634 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €50,607 | €79,359 | +€28,752 | +56.8% |
| Trade debts | 44 | €1,733 | €3,529 | +€1,797 | +104% |
| Suppliers | 440/4 | €1,733 | €3,529 | +€1,797 | +104% |
| Taxes, remuneration and social security | 45 | €52,981 | €5,746 | -€47,235 | -89.2% |
| Taxes | 450/3 | €52,981 | €5,746 | -€47,235 | -89.2% |
| Other amounts payable | 47/48 | €657,540 | €622,593 | -€34,947 | -5.3% |
| Accrued charges and deferred income | 492/3 | - | €2,400 | +€2,400 | |
| Non-recurring operating income | 76A | - | €13,636 | +€13,636 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,502 | €107,463 | +€64,962 | +153% |
| Other operating charges | 640/8 | €2,084 | €3,060 | +€976 | +46.8% |
| Gross operating margin | 9900 | -€10,311 | €61,195 | +€71,506 | |
| Operating profit (loss) | 9901 | -€54,896 | -€49,328 | +€5,568 | +10.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €14,119 | €52,642 | +€38,523 | +273% |
| Recurring financial charges | 65 | €14,119 | €52,642 | +€38,523 | +273% |
| Profit (loss) for the period before taxes | 9903 | -€69,016 | -€101,971 | -€32,955 | -47.8% |
| Profit (loss) for the period | 9904 | -€69,016 | -€101,971 | -€32,955 | -47.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€69,016 | -€101,971 | -€32,955 | -47.8% |
Next steps
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Calculation and sources
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 2 November 2026 via checked.be.