IMMO CESCHIN: 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 CESCHIN
Largest movements
- Current investments -€51,272
no longer reported in 2025 (was €51,272)
- Tangible fixed assets -€21,143
down €21,143 (-5.9%), from €360,862 to €339,719
of which Land and buildings: -€15,559
- Receivables within one year +€19,335
up €19,335 (+15.7%), from €123,026 to €142,361
of which Other amounts receivable: +€32,013
- Stocks and contracts +€9,152
new in 2025: €9,152
- Reserves -€68,974
down €68,974 (-27.8%), from €248,414 to €179,441
of which Distributable reserves: -€68,974
- Investment grants +€24,249
new in 2025: €24,249
- Debts after one year -€19,409
down €19,409 (-32.6%), from €59,629 to €40,220
of which Financial debts: -€12,347
- Tax, wage and social debts +€15,052
up €15,052 (+26.9%), from €55,910 to €70,962
of which Taxes: +€13,209
- Staff costs +€51,384
up €51,384 (+21.3%), from €241,580 to €292,964
- Financial charges +€50,029
up €50,029 (+952%), from €5,253 to €55,283
- Gross operating margin +€16,451
up €16,451 (+5.7%), from €287,307 to €303,757
- Financial income +€8,123
up €8,123 (+2,078%), from €391 to €8,514
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €541,109 | €494,071 | -€47,038 | -8.7% |
| Fixed assets | 21/28 | €360,862 | €339,719 | -€21,143 | -5.9% |
| Tangible fixed assets | 22/27 | €360,862 | €339,719 | -€21,143 | -5.9% |
| Land and buildings | 22 | €332,570 | €317,012 | -€15,559 | -4.7% |
| Plant, machinery and equipment | 23 | €13,821 | €9,907 | -€3,915 | -28.3% |
| Furniture and vehicles | 24 | €13,918 | €12,543 | -€1,376 | -9.9% |
| Other tangible fixed assets | 26 | €552 | €257 | -€294 | -53.3% |
| Current assets | 29/58 | €180,247 | €154,352 | -€25,895 | -14.4% |
| Stocks and contracts in progress | 3 | - | €9,152 | +€9,152 | |
| Stocks | 30/36 | - | €9,152 | +€9,152 | |
| Amounts receivable within one year | 40/41 | €123,026 | €142,361 | +€19,335 | +15.7% |
| Trade receivables | 40 | €122,707 | €110,029 | -€12,678 | -10.3% |
| Other amounts receivable | 41 | €319 | €32,332 | +€32,013 | +10,040% |
| Current investments | 50/53 | €51,272 | - | -€51,272 | |
| Cash at bank and in hand | 54/58 | €4,637 | €840 | -€3,797 | -81.9% |
| Deferred charges and accrued income | 490/1 | €1,312 | €1,999 | +€687 | +52.4% |
| Total equity and liabilities | 10/49 | €541,109 | €494,071 | -€47,038 | -8.7% |
| Equity | 10/15 | €353,769 | €309,044 | -€44,725 | -12.6% |
| Contributions | 10/11 | €105,355 | €105,355 | = | 0.0% |
| Capital | 10 | €105,355 | €105,355 | = | 0.0% |
| Issued capital | 100 | €105,355 | €105,355 | = | 0.0% |
| Reserves | 13 | €248,414 | €179,441 | -€68,974 | -27.8% |
| Non-distributable reserves | 130/1 | €10,535 | €10,535 | = | 0.0% |
| Legal reserve | 130 | €10,535 | €10,535 | = | 0.0% |
| Distributable reserves | 133 | €237,879 | €168,905 | -€68,974 | -29.0% |
| Investment grants | 15 | - | €24,249 | +€24,249 | |
| Amounts payable | 17/49 | €187,340 | €185,027 | -€2,313 | -1.2% |
| Amounts payable after more than one year | 17 | €59,629 | €40,220 | -€19,409 | -32.6% |
| Financial debts | 170/4 | €36,130 | €23,784 | -€12,347 | -34.2% |
| Other amounts payable | 178/9 | €23,499 | €16,436 | -€7,063 | -30.1% |
| Amounts payable within one year | 42/48 | €127,710 | €144,807 | +€17,097 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €11,517 | €12,347 | +€829 | +7.2% |
| Financial debts | 43 | - | €879 | +€879 | |
| Credit institutions | 430/8 | - | €879 | +€879 | |
| Trade debts | 44 | €60,283 | €60,619 | +€337 | +0.6% |
| Suppliers | 440/4 | €60,283 | €60,619 | +€337 | +0.6% |
| Taxes, remuneration and social security | 45 | €55,910 | €70,962 | +€15,052 | +26.9% |
| Taxes | 450/3 | €20,141 | €33,350 | +€13,209 | +65.6% |
| Remuneration and social security | 454/9 | €35,769 | €37,612 | +€1,842 | +5.2% |
| Non-recurring operating income | 76A | - | €2 | +€2 | |
| Remuneration, social security and pensions | 62 | €241,580 | €292,964 | +€51,384 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,777 | €26,850 | +€73 | +0.3% |
| Other operating charges | 640/8 | €7,223 | €5,212 | -€2,011 | -27.8% |
| Non-recurring operating charges | 66A | €4,851 | €277 | -€4,574 | -94.3% |
| Gross operating margin | 9900 | €287,307 | €303,757 | +€16,451 | +5.7% |
| Operating profit (loss) | 9901 | €6,876 | -€21,545 | -€28,421 | |
| Financial income | 75/76B | €391 | €8,514 | +€8,123 | +2,078% |
| Recurring financial income | 75 | €391 | €8,514 | +€8,123 | +2,078% |
| Financial charges | 65/66B | €5,253 | €55,283 | +€50,029 | +952% |
| Recurring financial charges | 65 | €5,253 | €55,283 | +€50,029 | +952% |
| Profit (loss) for the period before taxes | 9903 | €2,014 | -€68,314 | -€70,328 | |
| Income taxes | 67/77 | €646 | €660 | +€14 | +2.2% |
| Profit (loss) for the period | 9904 | €1,368 | -€68,974 | -€70,342 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,368 | -€68,974 | -€70,342 |
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 26 October 2026 via checked.be.