IMMO CET: 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 CET
Largest movements
- Current investments +€105,000
up €105,000 (+41.2%), from €255,000 to €360,000
- Tangible fixed assets -€86,617
down €86,617 (-4.6%), from €1.9m to €1.8m
of which Land and buildings: -€76,712
- Cash +€37,864
up €37,864 (+486%), from €7,785 to €45,649
mainly Net result for the year (+€270,437) and Other debts (+€239,307)
- Receivables within one year -€31,216
down €31,216 (-59.6%), from €52,338 to €21,122
of which Trade receivables: -€31,216
- Other debts +€239,307
up €239,307 (+96.4%), from €248,184 to €487,491
- Reserves -€191,683
down €191,683 (-11.5%), from €1.7m to €1.5m
of which Distributable reserves: -€175,697
- Debts after one year -€26,937
down €26,937 (-27.0%), from €99,626 to €72,688
of which Financial debts: -€26,987
- Gross operating margin +€22,372
up €22,372 (+4.2%), from €537,059 to €559,430
- Financial charges -€15,740
down €15,740 (-93.8%), from €16,788 to €1,049
- Taxes +€8,792
up €8,792 (+10.7%), from €82,105 to €90,897
- Write-downs -€7,360
down €7,360 (-100%), from €7,360 to €0
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 | €2,215,787 | €2,245,043 | +€29,257 | +1.3% |
| Fixed assets | 21/28 | €1,900,664 | €1,814,047 | -€86,617 | -4.6% |
| Tangible fixed assets | 22/27 | €1,900,664 | €1,814,047 | -€86,617 | -4.6% |
| Land and buildings | 22 | €1,868,327 | €1,791,616 | -€76,712 | -4.1% |
| Plant, machinery and equipment | 23 | €32,337 | €22,432 | -€9,905 | -30.6% |
| Current assets | 29/58 | €315,123 | €430,996 | +€115,873 | +36.8% |
| Amounts receivable within one year | 40/41 | €52,338 | €21,122 | -€31,216 | -59.6% |
| Trade receivables | 40 | €52,338 | €21,122 | -€31,216 | -59.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €255,000 | €360,000 | +€105,000 | +41.2% |
| Cash at bank and in hand | 54/58 | €7,785 | €45,649 | +€37,864 | +486% |
| Deferred charges and accrued income | 490/1 | - | €4,225 | +€4,225 | |
| Total equity and liabilities | 10/49 | €2,215,787 | €2,245,043 | +€29,257 | +1.3% |
| Equity | 10/15 | €1,809,136 | €1,617,453 | -€191,683 | -10.6% |
| Contributions | 10/11 | €140,458 | €140,458 | = | 0.0% |
| Capital | 10 | €140,000 | €140,000 | = | 0.0% |
| Issued capital | 100 | €140,000 | €140,000 | = | 0.0% |
| Contributions outside capital | 11 | €458 | €458 | = | 0.0% |
| Share premium | 1100/10 | €458 | €458 | = | 0.0% |
| Reserves | 13 | €1,668,677 | €1,476,995 | -€191,683 | -11.5% |
| Non-distributable reserves | 130/1 | €29,985 | €14,000 | -€15,985 | -53.3% |
| Legal reserve | 130 | €29,985 | €14,000 | -€15,985 | -53.3% |
| Distributable reserves | 133 | €1,638,692 | €1,462,995 | -€175,697 | -10.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €406,651 | €627,590 | +€220,940 | +54.3% |
| Amounts payable after more than one year | 17 | €99,626 | €72,688 | -€26,937 | -27.0% |
| Financial debts | 170/4 | €99,626 | €72,638 | -€26,987 | -27.1% |
| Other amounts payable | 178/9 | - | €50 | +€50 | |
| Amounts payable within one year | 42/48 | €291,046 | €554,607 | +€263,561 | +90.6% |
| Current portion of amounts payable after more than one year | 42 | €26,851 | €26,987 | +€136 | +0.5% |
| Trade debts | 44 | €3,812 | €9,905 | +€6,092 | +160% |
| Suppliers | 440/4 | €3,812 | €9,905 | +€6,092 | +160% |
| Taxes, remuneration and social security | 45 | €12,199 | €30,224 | +€18,025 | +148% |
| Taxes | 450/3 | €12,199 | €30,224 | +€18,025 | +148% |
| Other amounts payable | 47/48 | €248,184 | €487,491 | +€239,307 | +96.4% |
| Accrued charges and deferred income | 492/3 | €15,979 | €295 | -€15,684 | -98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149,574 | €152,808 | +€3,234 | +2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,360 | €0 | -€7,360 | -100% |
| Other operating charges | 640/8 | €48,478 | €50,045 | +€1,567 | +3.2% |
| Gross operating margin | 9900 | €537,059 | €559,430 | +€22,372 | +4.2% |
| Operating profit (loss) | 9901 | €331,647 | €356,577 | +€24,931 | +7.5% |
| Financial income | 75/76B | €11,345 | €5,806 | -€5,539 | -48.8% |
| Recurring financial income | 75 | €11,345 | €5,806 | -€5,539 | -48.8% |
| Financial charges | 65/66B | €16,788 | €1,049 | -€15,740 | -93.8% |
| Recurring financial charges | 65 | €16,788 | €1,049 | -€15,740 | -93.8% |
| Profit (loss) for the period before taxes | 9903 | €326,203 | €361,334 | +€35,132 | +10.8% |
| Income taxes | 67/77 | €82,105 | €90,897 | +€8,792 | +10.7% |
| Profit (loss) for the period | 9904 | €244,097 | €270,437 | +€26,340 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €244,097 | €270,437 | +€26,340 | +10.8% |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.