IMMO C et D: 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 C et D
Largest movements
- Tangible fixed assets -€13,729
down €13,729 (-9.7%), from €141,121 to €127,393
of which Land and buildings: -€10,449
- Cash +€3,691
up €3,691 (+6.1%), from €60,762 to €64,453
mainly Depreciation (+€21,393) and Net result for the year (+€5,105)
- Debts after one year -€14,954
down €14,954 (-34.1%), from €43,860 to €28,905
of which Financial debts: -€14,954
- Profit (loss) carried forward +€7,954
up €7,954 (+21.6%), from -€36,864 to -€28,910
- Reserves -€2,849
down €2,849 (-14.0%), from €20,392 to €17,543
of which Tax-exempt reserves: -€2,849
- Gross operating margin -€1,832
down €1,832 (-5.6%), from €32,574 to €30,743
- Financial charges -€807
down €807 (-18.6%), from €4,343 to €3,535
- Depreciation -€487
down €487 (-2.2%), from €21,881 to €21,393
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €249,165 | €238,703 | -€10,462 | -4.2% |
| Fixed assets | 21/28 | €141,493 | €127,765 | -€13,729 | -9.7% |
| Tangible fixed assets | 22/27 | €141,121 | €127,393 | -€13,729 | -9.7% |
| Land and buildings | 22 | €119,861 | €109,412 | -€10,449 | -8.7% |
| Plant, machinery and equipment | 23 | €21,261 | €17,981 | -€3,280 | -15.4% |
| Financial fixed assets | 28 | €372 | €372 | = | 0.0% |
| Current assets | 29/58 | €107,672 | €110,938 | +€3,266 | +3.0% |
| Amounts receivable within one year | 40/41 | €46,588 | €46,486 | -€102 | -0.2% |
| Trade receivables | 40 | - | €1,408 | +€1,408 | |
| Other amounts receivable | 41 | €46,588 | €45,078 | -€1,510 | -3.2% |
| Cash at bank and in hand | 54/58 | €60,762 | €64,453 | +€3,691 | +6.1% |
| Deferred charges and accrued income | 490/1 | €323 | - | -€323 | |
| Total equity and liabilities | 10/49 | €249,165 | €238,703 | -€10,462 | -4.2% |
| Equity | 10/15 | €155,528 | €160,633 | +€5,105 | +3.3% |
| Contributions | 10/11 | €172,000 | €172,000 | = | 0.0% |
| Reserves | 13 | €20,392 | €17,543 | -€2,849 | -14.0% |
| Tax-exempt reserves | 132 | €19,741 | €16,892 | -€2,849 | -14.4% |
| Distributable reserves | 133 | €651 | €651 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,864 | -€28,910 | +€7,954 | +21.6% |
| Provisions and deferred taxes | 16 | €13,161 | €11,262 | -€1,899 | -14.4% |
| Deferred taxes | 168 | €13,161 | €11,262 | -€1,899 | -14.4% |
| Amounts payable | 17/49 | €80,477 | €66,808 | -€13,668 | -17.0% |
| Amounts payable after more than one year | 17 | €43,860 | €28,905 | -€14,954 | -34.1% |
| Financial debts | 170/4 | €43,358 | €28,403 | -€14,954 | -34.5% |
| Other amounts payable | 178/9 | €502 | €502 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,617 | €37,903 | +€1,286 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €14,092 | €14,954 | +€862 | +6.1% |
| Trade debts | 44 | €525 | - | -€525 | |
| Suppliers | 440/4 | €525 | €0 | -€525 | -100.0% |
| Other amounts payable | 47/48 | €22,000 | €22,949 | +€949 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,881 | €21,393 | -€487 | -2.2% |
| Other operating charges | 640/8 | €3,918 | €3,996 | +€78 | +2.0% |
| Gross operating margin | 9900 | €32,574 | €30,743 | -€1,832 | -5.6% |
| Operating profit (loss) | 9901 | €6,776 | €5,354 | -€1,422 | -21.0% |
| Financial income | 75/76B | €1,576 | €1,388 | -€188 | -11.9% |
| Recurring financial income | 75 | €1,576 | €1,388 | -€188 | -11.9% |
| Financial charges | 65/66B | €4,343 | €3,535 | -€807 | -18.6% |
| Recurring financial charges | 65 | €4,343 | €3,535 | -€807 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €4,009 | €3,206 | -€803 | -20.0% |
| Transfer from deferred taxes | 780 | €1,899 | €1,899 | = | 0.0% |
| Profit (loss) for the period | 9904 | €5,908 | €5,105 | -€803 | -13.6% |
| Transfer from tax-exempt reserves | 789 | €2,849 | €2,849 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,756 | €7,954 | -€803 | -9.2% |
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 6 October 2026 via checked.be.