IMMO CORTELINE: 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 CORTELINE
Largest movements
- Tangible fixed assets +€463,620
up €463,620 (+270%), from €171,475 to €635,096
- Cash -€123,600
down €123,600 (-48.2%), from €256,327 to €132,727
mainly Investment in fixed assets (net) (-€481,173) and Contributions, distributions and other (-€45,306)
- Receivables within one year +€12,758
up €12,758 (+560%), from €2,279 to €15,037
of which Other amounts receivable: +€12,758
- Debts after one year +€304,873
new in 2025: €304,873
- Other debts +€44,711
new in 2025: €44,711
- Reserves -€28,248
down €28,248 (-15.1%), from €187,556 to €159,308
of which Distributable reserves: -€28,248
- Accrued charges and deferred income +€24,027
up €24,027 (+6,203%), from €387 to €24,414
- Gross operating margin +€17,161
up €17,161 (+35.0%), from €49,038 to €66,199
- Financial charges +€10,834
up €10,834 (+5,641%), from €192 to €11,026
- Taxes -€4,991
down €4,991 (-50.0%), from €9,975 to €4,984
- Depreciation +€2,999
up €2,999 (+20.6%), from €14,554 to €17,552
- Other operating charges +€1,219
up €1,219 (+41.4%), from €2,942 to €4,161
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 | €430,081 | €782,859 | +€352,778 | +82.0% |
| Fixed assets | 21/28 | €171,475 | €635,096 | +€463,620 | +270% |
| Tangible fixed assets | 22/27 | €171,475 | €635,096 | +€463,620 | +270% |
| Land and buildings | 22 | €171,475 | €635,096 | +€463,620 | +270% |
| Current assets | 29/58 | €258,605 | €147,763 | -€110,842 | -42.9% |
| Amounts receivable within one year | 40/41 | €2,279 | €15,037 | +€12,758 | +560% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,279 | €15,037 | +€12,758 | +560% |
| Cash at bank and in hand | 54/58 | €256,327 | €132,727 | -€123,600 | -48.2% |
| Total equity and liabilities | 10/49 | €430,081 | €782,859 | +€352,778 | +82.0% |
| Equity | 10/15 | €427,556 | €399,308 | -€28,248 | -6.6% |
| Contributions | 10/11 | €240,000 | €240,000 | = | 0.0% |
| Reserves | 13 | €187,556 | €159,308 | -€28,248 | -15.1% |
| Non-distributable reserves | 130/1 | €24,000 | €24,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €24,000 | €24,000 | = | 0.0% |
| Distributable reserves | 133 | €163,556 | €135,308 | -€28,248 | -17.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,525 | €383,551 | +€381,026 | +15,091% |
| Amounts payable after more than one year | 17 | - | €304,873 | +€304,873 | |
| Financial debts | 170/4 | - | €304,873 | +€304,873 | |
| Amounts payable within one year | 42/48 | €2,138 | €54,263 | +€52,126 | +2,439% |
| Current portion of amounts payable after more than one year | 42 | - | €7,185 | +€7,185 | |
| Trade debts | 44 | €0 | €230 | +€230 | |
| Suppliers | 440/4 | €0 | €230 | +€230 | |
| Taxes, remuneration and social security | 45 | €2,138 | €2,138 | = | 0.0% |
| Taxes | 450/3 | €2,138 | €2,138 | = | 0.0% |
| Other amounts payable | 47/48 | - | €44,711 | +€44,711 | |
| Accrued charges and deferred income | 492/3 | €387 | €24,414 | +€24,027 | +6,203% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,554 | €17,552 | +€2,999 | +20.6% |
| Other operating charges | 640/8 | €2,942 | €4,161 | +€1,219 | +41.4% |
| Non-recurring operating charges | 66A | - | €11,417 | +€11,417 | |
| Gross operating margin | 9900 | €49,038 | €66,199 | +€17,161 | +35.0% |
| Operating profit (loss) | 9901 | €31,542 | €33,068 | +€1,526 | +4.8% |
| Financial charges | 65/66B | €192 | €11,026 | +€10,834 | +5,641% |
| Recurring financial charges | 65 | €192 | €11,026 | +€10,834 | +5,641% |
| Profit (loss) for the period before taxes | 9903 | €31,350 | €22,042 | -€9,308 | -29.7% |
| Income taxes | 67/77 | €9,975 | €4,984 | -€4,991 | -50.0% |
| Profit (loss) for the period | 9904 | €21,375 | €17,059 | -€4,316 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,375 | €17,059 | -€4,316 | -20.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.