IMMO - CONSTRUCT: 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 - CONSTRUCT
Largest movements
- Cash +€95,233
up €95,233 (+146.7%), from €64,896 to €160,129
mainly Receivables after one year (+€84,784) and Depreciation (+€35,744)
- Receivables after one year -€84,784
down €84,784 (-13.8%), from €615,513 to €530,728
- Tangible fixed assets -€45,514
down €45,514 (-4.2%), from €1.1m to €1.0m
of which Land and buildings: -€31,808
- Other debts -€52,735
down €52,735 (-56.8%), from €92,809 to €40,074
- Depreciation -€14,909
down €14,909 (-29.4%), from €50,652 to €35,744
- Financial charges +€11,388
up €11,388 (+57.2%), from €19,926 to €31,314
- Financial income -€5,441
down €5,441 (-23.2%), from €23,407 to €17,966
- Gross operating margin +€4,586
up €4,586 (+7.4%), from €61,593 to €66,179
- Other operating charges +€3,301
up €3,301 (+30.7%), from €10,735 to €14,036
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.
Cash bridge derived
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 | €1,957,341 | €1,921,997 | -€35,344 | -1.8% |
| Fixed assets | 21/28 | €1,092,335 | €1,046,821 | -€45,514 | -4.2% |
| Tangible fixed assets | 22/27 | €1,092,335 | €1,046,821 | -€45,514 | -4.2% |
| Land and buildings | 22 | €1,072,269 | €1,040,461 | -€31,808 | -3.0% |
| Plant, machinery and equipment | 23 | €6,890 | €6,360 | -€530 | -7.7% |
| Furniture and vehicles | 24 | €13,176 | €0 | -€13,176 | -100.0% |
| Current assets | 29/58 | €865,007 | €875,177 | +€10,170 | +1.2% |
| Amounts receivable after more than one year | 29 | €615,513 | €530,728 | -€84,784 | -13.8% |
| Other amounts receivable | 291 | €615,513 | €530,728 | -€84,784 | -13.8% |
| Amounts receivable within one year | 40/41 | €2,000 | €2,000 | = | 0.0% |
| Trade receivables | 40 | €2,000 | €2,000 | = | 0.0% |
| Current investments | 50/53 | €175,000 | €175,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €64,896 | €160,129 | +€95,233 | +146.7% |
| Deferred charges and accrued income | 490/1 | €7,598 | €7,319 | -€279 | -3.7% |
| Total equity and liabilities | 10/49 | €1,957,341 | €1,921,997 | -€35,344 | -1.8% |
| Equity | 10/15 | €1,222,216 | €1,225,093 | +€2,877 | +0.2% |
| Contributions | 10/11 | €1,167,400 | €1,167,400 | = | 0.0% |
| Capital | 10 | €1,167,400 | €1,167,400 | = | 0.0% |
| Issued capital | 100 | €1,167,400 | €1,167,400 | = | 0.0% |
| Reserves | 13 | €57,356 | €57,693 | +€337 | +0.6% |
| Non-distributable reserves | 130/1 | €57,187 | €57,525 | +€337 | +0.6% |
| Legal reserve | 130 | €57,187 | €57,525 | +€337 | +0.6% |
| Tax-exempt reserves | 132 | €168 | €168 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,540 | €0 | +€2,540 | |
| Amounts payable | 17/49 | €735,125 | €696,904 | -€38,221 | -5.2% |
| Amounts payable after more than one year | 17 | €620,000 | €620,000 | = | 0.0% |
| Other amounts payable | 178/9 | €620,000 | €620,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €94,393 | €44,935 | -€49,458 | -52.4% |
| Trade debts | 44 | €774 | €1,616 | +€842 | +108.8% |
| Suppliers | 440/4 | €774 | €1,616 | +€842 | +108.8% |
| Taxes, remuneration and social security | 45 | €810 | €3,245 | +€2,435 | +300.6% |
| Taxes | 450/3 | €810 | €3,245 | +€2,435 | +300.6% |
| Other amounts payable | 47/48 | €92,809 | €40,074 | -€52,735 | -56.8% |
| Accrued charges and deferred income | 492/3 | €20,732 | €31,970 | +€11,238 | +54.2% |
| Non-recurring operating income | 76A | - | €11,024 | +€11,024 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,652 | €35,744 | -€14,909 | -29.4% |
| Other operating charges | 640/8 | €10,735 | €14,036 | +€3,301 | +30.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €61,593 | €66,179 | +€4,586 | +7.4% |
| Operating profit (loss) | 9901 | €206 | €16,400 | +€16,194 | +7866.4% |
| Financial income | 75/76B | €23,407 | €17,966 | -€5,441 | -23.2% |
| Recurring financial income | 75 | €23,407 | €17,966 | -€5,441 | -23.2% |
| Financial charges | 65/66B | €19,926 | €31,314 | +€11,388 | +57.2% |
| Recurring financial charges | 65 | €19,926 | €31,314 | +€11,388 | +57.2% |
| Profit (loss) for the period before taxes | 9903 | €3,687 | €3,051 | -€635 | -17.2% |
| Income taxes | 67/77 | €264 | €174 | -€90 | -33.9% |
| Profit (loss) for the period | 9904 | €3,423 | €2,877 | -€546 | -15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,423 | €2,877 | -€546 | -15.9% |
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 11 October 2026 via checked.be.