IMMO BUSTIN: what changed
Two fiscal 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 BUSTIN
Largest movements
- Tangible fixed assets -€239,764
down €239,764 (-5.9%), from €4.1m to €3.8m
of which Land and buildings: -€224,787
- Cash -€89,608
down €89,608 (-21.0%), from €426,926 to €337,319
mainly Debts after one year (-€149,871) and Other debts (-€115,878)
- Debts after one year -€149,871
down €149,871 (-10.2%), from €1.5m to €1.3m
- Other debts -€115,878
down €115,878 (-3.8%), from €3.0m to €2.9m
- Profit (loss) carried forward -€109,761
down €109,761 (-15.2%), from -€721,168 to -€830,929
- Gross operating margin -€198,913
down €198,913 (-50.0%), from €397,559 to €198,646
- Other operating charges -€6,016
down €6,016 (-17.5%), from €34,395 to €28,379
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.
Cash bridge derived
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 | €4,592,564 | €4,243,311 | -€349,253 | -7.6% |
| Fixed assets | 21/28 | €4,090,796 | €3,851,032 | -€239,764 | -5.9% |
| Tangible fixed assets | 22/27 | €4,087,196 | €3,847,432 | -€239,764 | -5.9% |
| Land and buildings | 22 | €4,060,053 | €3,835,266 | -€224,787 | -5.5% |
| Plant, machinery and equipment | 23 | €319 | €0 | -€319 | -100.0% |
| Furniture and vehicles | 24 | €26,824 | €12,167 | -€14,657 | -54.6% |
| Financial fixed assets | 28 | €3,600 | €3,600 | = | 0.0% |
| Current assets | 29/58 | €501,767 | €392,278 | -€109,489 | -21.8% |
| Stocks and contracts in progress | 3 | €58,858 | €16,700 | -€42,158 | -71.6% |
| Stocks | 30/36 | €58,858 | €16,700 | -€42,158 | -71.6% |
| Amounts receivable within one year | 40/41 | €12,430 | €33,901 | +€21,471 | +172.7% |
| Trade receivables | 40 | €10,742 | €30,223 | +€19,481 | +181.4% |
| Other amounts receivable | 41 | €1,688 | €3,678 | +€1,990 | +117.8% |
| Cash at bank and in hand | 54/58 | €426,926 | €337,319 | -€89,608 | -21.0% |
| Deferred charges and accrued income | 490/1 | €3,552 | €4,358 | +€806 | +22.7% |
| Total equity and liabilities | 10/49 | €4,592,564 | €4,243,311 | -€349,253 | -7.6% |
| Equity | 10/15 | -€252,418 | -€362,179 | -€109,761 | -43.5% |
| Contributions | 10/11 | €462,500 | €462,500 | = | 0.0% |
| Reserves | 13 | €6,250 | €6,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,250 | €6,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€721,168 | -€830,929 | -€109,761 | -15.2% |
| Amounts payable | 17/49 | €4,844,981 | €4,605,490 | -€239,492 | -4.9% |
| Amounts payable after more than one year | 17 | €1,474,462 | €1,324,590 | -€149,871 | -10.2% |
| Financial debts | 170/4 | €1,474,462 | €1,324,590 | -€149,871 | -10.2% |
| Amounts payable within one year | 42/48 | €3,344,470 | €3,256,087 | -€88,383 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €134,646 | €142,451 | +€7,805 | +5.8% |
| Trade debts | 44 | €153,208 | €167,301 | +€14,093 | +9.2% |
| Suppliers | 440/4 | €153,208 | €167,301 | +€14,093 | +9.2% |
| Taxes, remuneration and social security | 45 | €10,303 | €15,900 | +€5,597 | +54.3% |
| Taxes | 450/3 | €10,303 | €15,900 | +€5,597 | +54.3% |
| Other amounts payable | 47/48 | €3,046,314 | €2,930,436 | -€115,878 | -3.8% |
| Accrued charges and deferred income | 492/3 | €26,050 | €24,812 | -€1,237 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €262,780 | €264,961 | +€2,181 | +0.8% |
| Other operating charges | 640/8 | €34,395 | €28,379 | -€6,016 | -17.5% |
| Gross operating margin | 9900 | €397,559 | €198,646 | -€198,913 | -50.0% |
| Operating profit (loss) | 9901 | €100,385 | -€94,694 | -€195,079 | |
| Financial income | 75/76B | €1 | €2,866 | +€2,865 | +381990.7% |
| Recurring financial income | 75 | €1 | €2,866 | +€2,865 | +381990.7% |
| Financial charges | 65/66B | €15,205 | €17,547 | +€2,342 | +15.4% |
| Recurring financial charges | 65 | €15,205 | €17,547 | +€2,342 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €85,181 | -€109,375 | -€194,555 | |
| Income taxes | 67/77 | €322 | €386 | +€64 | +20.0% |
| Profit (loss) for the period | 9904 | €84,859 | -€109,761 | -€194,620 | |
| Profit (loss) for the period to be appropriated | 9905 | €84,859 | -€109,761 | -€194,620 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.