IMMO CARDINAL: 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 CARDINAL
Largest movements
- Tangible fixed assets -€26,378
down €26,378 (-3.7%), from €714,289 to €687,911
of which Land and buildings: -€26,028
- Profit (loss) carried forward -€32,664
down €32,664 (-11.6%), from -€281,615 to -€314,279
- Debts after one year -€9,268
down €9,268 (-2.0%), from €461,117 to €451,849
of which Financial debts: -€9,268
- Depreciation -€1,773
down €1,773 (-7.7%), from €22,985 to €21,212
- Gross operating margin -€1,163
down €1,163 (-28.4%), from -€4,098 to -€5,261
- Other operating charges -€163
down €163 (-5.0%), from €3,264 to €3,100
- Financial charges -€146
down €146 (-4.5%), from €3,236 to €3,090
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 | €738,604 | €699,495 | -€39,109 | -5.3% |
| Fixed assets | 21/28 | €714,289 | €687,911 | -€26,378 | -3.7% |
| Tangible fixed assets | 22/27 | €714,289 | €687,911 | -€26,378 | -3.7% |
| Land and buildings | 22 | €713,939 | €687,911 | -€26,028 | -3.6% |
| Furniture and vehicles | 24 | €350 | - | -€350 | |
| Current assets | 29/58 | €24,315 | €11,584 | -€12,731 | -52.4% |
| Amounts receivable within one year | 40/41 | €5,053 | - | -€5,053 | |
| Trade receivables | 40 | €5,053 | - | -€5,053 | |
| Cash at bank and in hand | 54/58 | €18,182 | €10,890 | -€7,292 | -40.1% |
| Deferred charges and accrued income | 490/1 | €1,081 | €694 | -€387 | -35.8% |
| Total equity and liabilities | 10/49 | €738,604 | €699,495 | -€39,109 | -5.3% |
| Equity | 10/15 | €268,385 | €235,721 | -€32,664 | -12.2% |
| Contributions | 10/11 | €550,000 | €550,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€281,615 | -€314,279 | -€32,664 | -11.6% |
| Amounts payable | 17/49 | €470,219 | €463,774 | -€6,445 | -1.4% |
| Amounts payable after more than one year | 17 | €461,117 | €451,849 | -€9,268 | -2.0% |
| Financial debts | 170/4 | €151,217 | €141,949 | -€9,268 | -6.1% |
| Other amounts payable | 178/9 | €309,900 | €309,900 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,102 | €9,268 | +€166 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €9,102 | €9,268 | +€166 | +1.8% |
| Accrued charges and deferred income | 492/3 | - | €2,657 | +€2,657 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,985 | €21,212 | -€1,773 | -7.7% |
| Other operating charges | 640/8 | €3,264 | €3,100 | -€163 | -5.0% |
| Gross operating margin | 9900 | -€4,098 | -€5,261 | -€1,163 | -28.4% |
| Operating profit (loss) | 9901 | -€30,347 | -€29,573 | +€774 | +2.5% |
| Financial charges | 65/66B | €3,236 | €3,090 | -€146 | -4.5% |
| Recurring financial charges | 65 | €3,236 | €3,090 | -€146 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | -€33,583 | -€32,664 | +€919 | +2.7% |
| Profit (loss) for the period | 9904 | -€33,583 | -€32,664 | +€919 | +2.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,583 | -€32,664 | +€919 | +2.7% |
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 7 October 2026 via checked.be.