IMMO C & S: 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 C & S
Largest movements
- Cash +€187,003
up €187,003 (+54.7%), from €341,693 to €528,695
mainly Net result for the year (+€123,213) and Trade debts (+€122,511)
- Receivables within one year +€16,969
up €16,969 (+16.3%), from €104,003 to €120,972
of which Trade receivables: +€42,975
- Reserves +€123,213
up €123,213 (+35.0%), from €351,781 to €474,994
- Trade debts +€122,511
up €122,511 (+253.5%), from €48,334 to €170,845
of which Bills of exchange payable: +€170,141
- Other debts -€35,531
down €35,531 (-14.8%), from €240,690 to €205,159
- Tax, wage and social debts +€15,150
up €15,150 (+30.0%), from €50,483 to €65,633
of which Remuneration and social security: +€12,699
- Gross operating margin +€97,844
up €97,844 (+45.6%), from €214,756 to €312,599
- Staff costs +€40,011
up €40,011 (+53.2%), from €75,261 to €115,272
- Taxes +€24,497
up €24,497 (+68.8%), from €35,586 to €60,083
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 | €716,142 | €937,774 | +€221,632 | +30.9% |
| Fixed assets | 21/28 | €250,546 | €268,206 | +€17,660 | +7.0% |
| Intangible fixed assets | 21 | - | €8,290 | +€8,290 | |
| Tangible fixed assets | 22/27 | €250,426 | €259,796 | +€9,370 | +3.7% |
| Land and buildings | 22 | €238,686 | €245,687 | +€7,001 | +2.9% |
| Plant, machinery and equipment | 23 | €5,341 | €5,687 | +€347 | +6.5% |
| Furniture and vehicles | 24 | €6,399 | €8,421 | +€2,022 | +31.6% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €465,597 | €669,569 | +€203,972 | +43.8% |
| Amounts receivable within one year | 40/41 | €104,003 | €120,972 | +€16,969 | +16.3% |
| Trade receivables | 40 | €77,997 | €120,972 | +€42,975 | +55.1% |
| Other amounts receivable | 41 | €26,006 | - | -€26,006 | |
| Current investments | 50/53 | €19,901 | €19,901 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €341,693 | €528,695 | +€187,003 | +54.7% |
| Total equity and liabilities | 10/49 | €716,142 | €937,774 | +€221,632 | +30.9% |
| Equity | 10/15 | €370,381 | €493,594 | +€123,213 | +33.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €351,781 | €474,994 | +€123,213 | +35.0% |
| Distributable reserves | 133 | €351,781 | €474,994 | +€123,213 | +35.0% |
| Amounts payable | 17/49 | €345,761 | €444,180 | +€98,419 | +28.5% |
| Amounts payable within one year | 42/48 | €345,761 | €444,180 | +€98,419 | +28.5% |
| Current portion of amounts payable after more than one year | 42 | €3,732 | - | -€3,732 | |
| Financial debts | 43 | €2,523 | €2,543 | +€20 | +0.8% |
| Other loans | 439 | €2,523 | €2,543 | +€20 | +0.8% |
| Trade debts | 44 | €48,334 | €170,845 | +€122,511 | +253.5% |
| Suppliers | 440/4 | €48,334 | €704 | -€47,630 | -98.5% |
| Bills of exchange payable | 441 | - | €170,141 | +€170,141 | |
| Taxes, remuneration and social security | 45 | €50,483 | €65,633 | +€15,150 | +30.0% |
| Taxes | 450/3 | €40,885 | €43,335 | +€2,451 | +6.0% |
| Remuneration and social security | 454/9 | €9,598 | €22,298 | +€12,699 | +132.3% |
| Other amounts payable | 47/48 | €240,690 | €205,159 | -€35,531 | -14.8% |
| Remuneration, social security and pensions | 62 | €75,261 | €115,272 | +€40,011 | +53.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,806 | €12,913 | +€1,107 | +9.4% |
| Other operating charges | 640/8 | €3,699 | €3,320 | -€379 | -10.2% |
| Gross operating margin | 9900 | €214,756 | €312,599 | +€97,844 | +45.6% |
| Operating profit (loss) | 9901 | €123,989 | €181,094 | +€57,105 | +46.1% |
| Financial income | 75/76B | €915 | €3,032 | +€2,117 | +231.3% |
| Recurring financial income | 75 | €915 | €3,032 | +€2,117 | +231.3% |
| Financial charges | 65/66B | €1,405 | €830 | -€575 | -40.9% |
| Recurring financial charges | 65 | €1,405 | €830 | -€575 | -40.9% |
| Profit (loss) for the period before taxes | 9903 | €123,500 | €183,296 | +€59,797 | +48.4% |
| Income taxes | 67/77 | €35,586 | €60,083 | +€24,497 | +68.8% |
| Profit (loss) for the period | 9904 | €87,914 | €123,213 | +€35,300 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €87,914 | €123,213 | +€35,300 | +40.2% |
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 11 October 2026 via checked.be.