IMMO CEBEKO: 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 CEBEKO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€43,422
2024 · -€6,469-€36,953
Equity
€1.5m
2024 · €1.6m-€43,422
Cash
€28,601
2024 · €19,420+€9,181
Balance sheet total
€7.2m
2024 · €7.6m-€409,252
Largest movements
Assets
- Tangible fixed assets -€231,849
down €231,849 (-3.2%), from €7.2m to €7.0m
- Receivables within one year -€186,639
down €186,639 (-53.8%), from €346,911 to €160,272
of which Other amounts receivable: -€148,798
Equity and liabilities
- Current portion of long-term debt -€225,072
down €225,072 (-76.4%), from €294,581 to €69,509
- Debts after one year -€136,176
down €136,176 (-2.6%), from €5.3m to €5.2m
Income statement
- Gross operating margin -€33,632
down €33,632 (-8.0%), from €420,416 to €386,784
- Financial income -€20,397
down €20,397 (-96.4%), from €21,151 to €754
- Taxes -€13,180
down €13,180 (-71.0%), from €18,563 to €5,383
- Financial charges -€11,731
down €11,731 (-8.9%), from €131,868 to €120,137
- Depreciation +€6,796
up €6,796 (+2.4%), from €288,267 to €295,064
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
-€6,469
Gross operating margin
-€33,632
Depreciation
-€6,796
Other operating charges
-€1,040
Financial income
-€20,397
Financial charges
+€11,731
Taxes
+€13,180
Result 2025
-€43,422
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
+€433,643
Investment
-€63,215
Financing
-€361,248
Cash 2024
€19,420
From operations (derived)
+€433,643
Net result for the year
-€43,422
Depreciation
+€295,064
Receivables within one year
+€186,639
Deferred charges and accrued income
-€55
Provisions
-€19,857
Trade debts
+€3,952
Tax, wage and social debts
-€11,063
Other debts
-€7,487
Accrued charges and deferred income
+€29,873
Investment (derived)
-€63,215
Investment in fixed assets (net)
-€63,215
Financing
-€361,248
Debts after one year
-€136,176
Current portion of long-term debt
-€225,072
Cash 2025
€28,601
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,605,995 | €7,196,742 | -€409,252 | -5.4% |
| Fixed assets | 21/28 | €7,228,595 | €6,996,746 | -€231,849 | -3.2% |
| Tangible fixed assets | 22/27 | €7,228,595 | €6,996,746 | -€231,849 | -3.2% |
| Land and buildings | 22 | €7,228,595 | €6,996,746 | -€231,849 | -3.2% |
| Current assets | 29/58 | €377,400 | €199,996 | -€177,404 | -47.0% |
| Amounts receivable within one year | 40/41 | €346,911 | €160,272 | -€186,639 | -53.8% |
| Trade receivables | 40 | €54,055 | €16,213 | -€37,842 | -70.0% |
| Other amounts receivable | 41 | €292,856 | €144,059 | -€148,798 | -50.8% |
| Cash at bank and in hand | 54/58 | €19,420 | €28,601 | +€9,181 | +47.3% |
| Deferred charges and accrued income | 490/1 | €11,069 | €11,124 | +€55 | +0.5% |
| Total equity and liabilities | 10/49 | €7,605,995 | €7,196,742 | -€409,252 | -5.4% |
| Equity | 10/15 | €1,562,636 | €1,519,213 | -€43,422 | -2.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,544,044 | €1,500,621 | -€43,422 | -2.8% |
| Tax-exempt reserves | 132 | €1,095,596 | €1,036,024 | -€59,572 | -5.4% |
| Distributable reserves | 133 | €448,448 | €464,597 | +€16,149 | +3.6% |
| Provisions and deferred taxes | 16 | €365,199 | €345,341 | -€19,857 | -5.4% |
| Deferred taxes | 168 | €365,199 | €345,341 | -€19,857 | -5.4% |
| Amounts payable | 17/49 | €5,678,161 | €5,332,188 | -€345,973 | -6.1% |
| Amounts payable after more than one year | 17 | €5,303,339 | €5,167,163 | -€136,176 | -2.6% |
| Financial debts | 170/4 | €5,303,339 | €5,167,163 | -€136,176 | -2.6% |
| Amounts payable within one year | 42/48 | €374,666 | €134,997 | -€239,669 | -64.0% |
| Current portion of amounts payable after more than one year | 42 | €294,581 | €69,509 | -€225,072 | -76.4% |
| Trade debts | 44 | €53,477 | €57,429 | +€3,952 | +7.4% |
| Suppliers | 440/4 | €53,477 | €57,429 | +€3,952 | +7.4% |
| Taxes, remuneration and social security | 45 | €11,063 | €0 | -€11,063 | -100% |
| Taxes | 450/3 | €11,063 | €0 | -€11,063 | -100% |
| Other amounts payable | 47/48 | €15,545 | €8,059 | -€7,487 | -48.2% |
| Accrued charges and deferred income | 492/3 | €155 | €30,028 | +€29,873 | +19,224% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €288,267 | €295,064 | +€6,796 | +2.4% |
| Other operating charges | 640/8 | €29,195 | €30,235 | +€1,040 | +3.6% |
| Gross operating margin | 9900 | €420,416 | €386,784 | -€33,632 | -8.0% |
| Operating profit (loss) | 9901 | €102,953 | €61,486 | -€41,468 | -40.3% |
| Financial income | 75/76B | €21,151 | €754 | -€20,397 | -96.4% |
| Recurring financial income | 75 | €21,151 | €754 | -€20,397 | -96.4% |
| Financial charges | 65/66B | €131,868 | €120,137 | -€11,731 | -8.9% |
| Recurring financial charges | 65 | €131,868 | €120,137 | -€11,731 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,763 | -€57,897 | -€50,133 | -646% |
| Transfer from deferred taxes | 780 | €19,857 | €19,857 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €18,563 | €5,383 | -€13,180 | -71.0% |
| Profit (loss) for the period | 9904 | -€6,469 | -€43,422 | -€36,953 | -571% |
| Transfer from tax-exempt reserves | 789 | €59,572 | €59,572 | -€0 | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €53,102 | €16,149 | -€36,953 | -69.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.