IMMO CEBEL: 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 CEBEL
Largest movements
- Cash -€238,168
down €238,168 (-97.8%), from €243,523 to €5,355
mainly Short-term financial debts (-€236,000) and Receivables within one year (-€166,138)
- Receivables within one year +€166,138
up €166,138 (+85.2%), from €195,008 to €361,146
of which Other amounts receivable: +€168,138
- Tangible fixed assets -€123,674
down €123,674 (-15.8%), from €782,833 to €659,159
of which Land and buildings: -€113,162
- Stocks and contracts +€87,596
up €87,596 (+4.0%), from €2.2m to €2.3m
- Debts after one year +€256,017
up €256,017 (+336.4%), from €76,113 to €332,130
- Short-term financial debts -€236,000
down €236,000 (-95.9%), from €246,000 to €10,000
- Current portion of long-term debt -€86,667
no longer reported in 2024 (was €86,667)
- Depreciation -€43,916
down €43,916 (-25.0%), from €175,340 to €131,424
- Gross operating margin -€24,078
down €24,078 (-10.2%), from €235,542 to €211,464
- Financial income +€21,913
up €21,913 (+2780.0%), from €788 to €22,701
- Financial charges +€5,497
up €5,497 (+13.4%), from €41,012 to €46,509
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,912,507 | €3,826,541 | -€85,966 | -2.2% |
| Fixed assets | 21/28 | €1,221,833 | €1,098,159 | -€123,674 | -10.1% |
| Tangible fixed assets | 22/27 | €782,833 | €659,159 | -€123,674 | -15.8% |
| Land and buildings | 22 | €762,168 | €649,006 | -€113,162 | -14.8% |
| Plant, machinery and equipment | 23 | €7,762 | €7,735 | -€27 | -0.4% |
| Furniture and vehicles | 24 | €12,904 | €2,419 | -€10,485 | -81.3% |
| Financial fixed assets | 28 | €439,000 | €439,000 | = | 0.0% |
| Current assets | 29/58 | €2,690,674 | €2,728,382 | +€37,708 | +1.4% |
| Stocks and contracts in progress | 3 | €2,165,187 | €2,252,783 | +€87,596 | +4.0% |
| Stocks | 30/36 | €2,165,187 | €2,252,783 | +€87,596 | +4.0% |
| Amounts receivable within one year | 40/41 | €195,008 | €361,146 | +€166,138 | +85.2% |
| Trade receivables | 40 | €3,370 | €1,369 | -€2,000 | -59.4% |
| Other amounts receivable | 41 | €191,639 | €359,777 | +€168,138 | +87.7% |
| Current investments | 50/53 | €79,178 | €79,178 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €243,523 | €5,355 | -€238,168 | -97.8% |
| Deferred charges and accrued income | 490/1 | €7,777 | €29,920 | +€22,143 | +284.7% |
| Total equity and liabilities | 10/49 | €3,912,507 | €3,826,541 | -€85,966 | -2.2% |
| Equity | 10/15 | €2,995,411 | €3,012,694 | +€17,282 | +0.6% |
| Contributions | 10/11 | €940,000 | €940,000 | = | 0.0% |
| Reserves | 13 | €2,022,858 | €2,040,140 | +€17,282 | +0.9% |
| Non-distributable reserves | 130/1 | €96,989 | €96,989 | = | 0.0% |
| Reserves not available under the articles | 1311 | €96,989 | €96,989 | = | 0.0% |
| Tax-exempt reserves | 132 | €172,714 | €143,954 | -€28,760 | -16.7% |
| Distributable reserves | 133 | €1,753,156 | €1,799,198 | +€46,042 | +2.6% |
| Profit (loss) carried forward | 14 | €32,553 | €32,553 | = | 0.0% |
| Provisions and deferred taxes | 16 | €102,021 | €87,212 | -€14,809 | -14.5% |
| Provisions for liabilities and charges | 160/5 | €13,087 | €13,087 | = | 0.0% |
| Other liabilities and charges | 164/5 | €13,087 | €13,087 | = | 0.0% |
| Deferred taxes | 168 | €88,934 | €74,125 | -€14,809 | -16.7% |
| Amounts payable | 17/49 | €815,075 | €726,636 | -€88,439 | -10.9% |
| Amounts payable after more than one year | 17 | €76,113 | €332,130 | +€256,017 | +336.4% |
| Financial debts | 170/4 | €76,113 | €332,130 | +€256,017 | +336.4% |
| Amounts payable within one year | 42/48 | €704,273 | €363,516 | -€340,757 | -48.4% |
| Current portion of amounts payable after more than one year | 42 | €86,667 | - | -€86,667 | |
| Financial debts | 43 | €246,000 | €10,000 | -€236,000 | -95.9% |
| Credit institutions | 430/8 | €246,000 | €10,000 | -€236,000 | -95.9% |
| Trade debts | 44 | €18,077 | €3,906 | -€14,171 | -78.4% |
| Suppliers | 440/4 | €18,077 | €3,906 | -€14,171 | -78.4% |
| Taxes, remuneration and social security | 45 | €18,113 | €33,002 | +€14,890 | +82.2% |
| Taxes | 450/3 | €18,113 | €33,002 | +€14,890 | +82.2% |
| Other amounts payable | 47/48 | €335,418 | €316,608 | -€18,810 | -5.6% |
| Accrued charges and deferred income | 492/3 | €34,688 | €30,989 | -€3,699 | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175,340 | €131,424 | -€43,916 | -25.0% |
| Other operating charges | 640/8 | €30,795 | €32,099 | +€1,304 | +4.2% |
| Gross operating margin | 9900 | €235,542 | €211,464 | -€24,078 | -10.2% |
| Operating profit (loss) | 9901 | €29,407 | €47,941 | +€18,534 | +63.0% |
| Financial income | 75/76B | €788 | €22,701 | +€21,913 | +2780.0% |
| Recurring financial income | 75 | €788 | €22,701 | +€21,913 | +2780.0% |
| Financial charges | 65/66B | €41,012 | €46,509 | +€5,497 | +13.4% |
| Recurring financial charges | 65 | €41,012 | €46,509 | +€5,497 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,817 | €24,132 | +€34,950 | |
| Transfer from deferred taxes | 780 | €14,809 | €14,809 | = | 0.0% |
| Income taxes | 67/77 | €13,602 | €13,806 | +€204 | +1.5% |
| Profit (loss) for the period | 9904 | -€9,610 | €25,135 | +€34,746 | |
| Transfer from tax-exempt reserves | 789 | €28,760 | €28,760 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,150 | €53,895 | +€34,746 | +181.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.