Immo Carsoel: 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.
What changed
Immo Carsoel
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1,340
2024 · -€860-€480
Equity
-€143,231
2024 · -€141,891-€1,340
Cash
€1,568
2024 · €1,926-€358
Balance sheet total
€655,487
2024 · €682,208-€26,721
Largest movements
Assets
- Tangible fixed assets -€23,284
down €23,284 (-3.5%), from €668,992 to €645,708
Equity and liabilities
- Debts after one year -€18,368
down €18,368 (-2.5%), from €749,020 to €730,652
of which Financial debts: -€18,368
Income statement
- Gross operating margin -€443
down €443 (-1.2%), from €35,714 to €35,271
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.
Result 2024
-€860
Gross operating margin
-€443
Other operating charges
-€243
Financial income
+€21
Financial charges
+€185
Result 2025
-€1,340
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€14,601
Investment
+€3,099
Financing
-€18,057
Cash 2024
€1,926
From operations (derived)
+€14,601
Net result for the year
-€1,340
Depreciation
+€23,284
Smaller working-capital items
-€20
Trade debts
-€3,317
Other debts
-€5,000
Accrued charges and deferred income
+€994
Investment (derived)
+€3,099
Current investments
+€3,099
Financing
-€18,057
Debts after one year
-€18,368
Current portion of long-term debt
+€311
Cash 2025
€1,568
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €682,208 | €655,487 | -€26,721 | -3.9% |
| Fixed assets | 21/28 | €670,103 | €646,819 | -€23,284 | -3.5% |
| Tangible fixed assets | 22/27 | €668,992 | €645,708 | -€23,284 | -3.5% |
| Land and buildings | 22 | €668,992 | €645,708 | -€23,284 | -3.5% |
| Financial fixed assets | 28 | €1,112 | €1,112 | = | 0.0% |
| Current assets | 29/58 | €12,105 | €8,668 | -€3,437 | -28.4% |
| Amounts receivable within one year | 40/41 | €14 | €27 | +€13 | +96.1% |
| Other amounts receivable | 41 | €14 | €27 | +€13 | +96.1% |
| Current investments | 50/53 | €10,165 | €7,067 | -€3,099 | -30.5% |
| Cash at bank and in hand | 54/58 | €1,926 | €1,568 | -€358 | -18.6% |
| Deferred charges and accrued income | 490/1 | - | €6 | +€6 | |
| Total equity and liabilities | 10/49 | €682,208 | €655,487 | -€26,721 | -3.9% |
| Equity | 10/15 | -€141,891 | -€143,231 | -€1,340 | -0.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,091 | -€149,431 | -€1,340 | -0.9% |
| Amounts payable | 17/49 | €824,099 | €798,718 | -€25,380 | -3.1% |
| Amounts payable after more than one year | 17 | €749,020 | €730,652 | -€18,368 | -2.5% |
| Financial debts | 170/4 | €224,770 | €206,402 | -€18,368 | -8.2% |
| Other amounts payable | 178/9 | €524,250 | €524,250 | = | 0.0% |
| Amounts payable within one year | 42/48 | €69,633 | €61,626 | -€8,006 | -11.5% |
| Current portion of amounts payable after more than one year | 42 | €19,594 | €19,905 | +€311 | +1.6% |
| Trade debts | 44 | €3,344 | €27 | -€3,317 | -99.2% |
| Suppliers | 440/4 | €3,344 | €27 | -€3,317 | -99.2% |
| Other amounts payable | 47/48 | €46,694 | €41,694 | -€5,000 | -10.7% |
| Accrued charges and deferred income | 492/3 | €5,447 | €6,440 | +€994 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,284 | €23,284 | = | 0.0% |
| Other operating charges | 640/8 | €7,734 | €7,976 | +€243 | +3.1% |
| Gross operating margin | 9900 | €35,714 | €35,271 | -€443 | -1.2% |
| Operating profit (loss) | 9901 | €4,696 | €4,011 | -€686 | -14.6% |
| Financial income | 75/76B | €54 | €74 | +€21 | +38.9% |
| Recurring financial income | 75 | €54 | €74 | +€21 | +38.9% |
| Financial charges | 65/66B | €5,610 | €5,426 | -€185 | -3.3% |
| Recurring financial charges | 65 | €5,610 | €5,426 | -€185 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | -€860 | -€1,340 | -€480 | -55.8% |
| Profit (loss) for the period | 9904 | -€860 | -€1,340 | -€480 | -55.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€860 | -€1,340 | -€480 | -55.8% |
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 18 October 2026 via checked.be.