IMMO CHALLE: 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 CHALLE
Largest movements
- Tangible fixed assets -€23,441
down €23,441 (-5.3%), from €446,040 to €422,599
of which Land and buildings: -€22,859
- Cash +€17,192
up €17,192 (+105%), from €16,436 to €33,628
mainly Depreciation (+€31,750) and Net result for the year (+€23,760)
- Receivables within one year +€14,811
new in 2025: €14,811
- Reserves +€23,760
up €23,760 (+7.7%), from €309,126 to €332,886
of which Distributable reserves: +€24,812
- Current portion of long-term debt -€12,349
down €12,349 (-56.0%), from €22,049 to €9,700
- Debts after one year -€9,700
down €9,700 (-25.7%), from €37,698 to €27,998
- Gross operating margin +€24,257
up €24,257 (+44.1%), from €54,973 to €79,230
- Taxes +€9,263
up €9,263 (+2,250%), from €412 to €9,674
- Depreciation +€2,798
up €2,798 (+9.7%), from €28,951 to €31,750
- Financial charges -€1,837
down €1,837 (-47.7%), from €3,850 to €2,013
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 | €463,317 | €471,038 | +€7,721 | +1.7% |
| Fixed assets | 21/28 | €446,040 | €422,599 | -€23,441 | -5.3% |
| Tangible fixed assets | 22/27 | €446,040 | €422,599 | -€23,441 | -5.3% |
| Land and buildings | 22 | €438,085 | €415,226 | -€22,859 | -5.2% |
| Plant, machinery and equipment | 23 | €1,134 | €954 | -€180 | -15.9% |
| Assets under construction and advance payments | 27 | €6,821 | €6,420 | -€402 | -5.9% |
| Current assets | 29/58 | €17,277 | €48,439 | +€31,161 | +180% |
| Amounts receivable within one year | 40/41 | - | €14,811 | +€14,811 | |
| Trade receivables | 40 | - | €14,811 | +€14,811 | |
| Cash at bank and in hand | 54/58 | €16,436 | €33,628 | +€17,192 | +105% |
| Deferred charges and accrued income | 490/1 | €841 | - | -€841 | |
| Total equity and liabilities | 10/49 | €463,317 | €471,038 | +€7,721 | +1.7% |
| Equity | 10/15 | €334,126 | €357,886 | +€23,760 | +7.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €309,126 | €332,886 | +€23,760 | +7.7% |
| Tax-exempt reserves | 132 | €32,395 | €31,342 | -€1,053 | -3.2% |
| Distributable reserves | 133 | €276,731 | €301,544 | +€24,812 | +9.0% |
| Provisions and deferred taxes | 16 | €6,053 | €6,053 | = | 0.0% |
| Deferred taxes | 168 | €6,053 | €6,053 | = | 0.0% |
| Amounts payable | 17/49 | €123,139 | €107,100 | -€16,039 | -13.0% |
| Amounts payable after more than one year | 17 | €37,698 | €27,998 | -€9,700 | -25.7% |
| Financial debts | 170/4 | €37,698 | €27,998 | -€9,700 | -25.7% |
| Amounts payable within one year | 42/48 | €85,441 | €79,102 | -€6,339 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | €22,049 | €9,700 | -€12,349 | -56.0% |
| Trade debts | 44 | €230 | €2,640 | +€2,409 | +1,047% |
| Suppliers | 440/4 | €230 | €2,640 | +€2,409 | +1,047% |
| Taxes, remuneration and social security | 45 | €6,297 | €10,086 | +€3,789 | +60.2% |
| Taxes | 450/3 | €6,297 | €10,086 | +€3,789 | +60.2% |
| Other amounts payable | 47/48 | €56,865 | €56,677 | -€188 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,951 | €31,750 | +€2,798 | +9.7% |
| Other operating charges | 640/8 | €11,708 | €12,033 | +€325 | +2.8% |
| Non-recurring operating charges | 66A | €11,105 | - | -€11,105 | |
| Gross operating margin | 9900 | €54,973 | €79,230 | +€24,257 | +44.1% |
| Operating profit (loss) | 9901 | €3,208 | €35,447 | +€32,239 | +1,005% |
| Financial income | 75/76B | €0 | €0 | +€0 | +17.6% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +17.6% |
| Financial charges | 65/66B | €3,850 | €2,013 | -€1,837 | -47.7% |
| Recurring financial charges | 65 | €3,850 | €2,013 | -€1,837 | -47.7% |
| Profit (loss) for the period before taxes | 9903 | -€642 | €33,434 | +€34,076 | |
| Transfer from deferred taxes | 780 | €542 | - | -€542 | |
| Income taxes | 67/77 | €412 | €9,674 | +€9,263 | +2,250% |
| Profit (loss) for the period | 9904 | -€511 | €23,760 | +€24,271 | |
| Transfer from tax-exempt reserves | 789 | €1,053 | €1,053 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €541 | €24,812 | +€24,271 | +4,484% |
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 17 October 2026 via checked.be.