IMMO CP: 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 CP
Largest movements
- Tangible fixed assets +€7.2m
up €7.2m (+1,063%), from €678,068 to €7.9m
of which Leasing and similar rights: +€4.8m
- Stocks and contracts +€169,020
up €169,020 (+20.0%), from €846,061 to €1.0m
- Cash -€133,904
down €133,904 (-51.7%), from €259,139 to €125,235
- Debts after one year +€6.2m
up €6.2m (+1,197%), from €520,176 to €6.7m
- Current portion of long-term debt +€611,746
up €611,746 (+421%), from €145,425 to €757,171
- Trade debts +€308,637
up €308,637 (+62.3%), from €495,428 to €804,065
- Gross operating margin +€1.5m
up €1.5m (+108%), from €1.4m to €3.0m
- Staff costs +€801,288
up €801,288 (+79.4%), from €1.0m to €1.8m
- Depreciation +€599,518
up €599,518 (+533%), from €112,406 to €711,923
- Financial charges +€217,203
up €217,203 (+454%), from €47,813 to €265,016
- Other operating charges +€48,281
up €48,281 (+48.8%), from €98,884 to €147,165
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,859,629 | €10,096,339 | +€7.2m | +253% |
| Fixed assets | 21/28 | €684,515 | €7,891,681 | +€7.2m | +1,053% |
| Intangible fixed assets | 21 | €6,447 | €4,119 | -€2,328 | -36.1% |
| Tangible fixed assets | 22/27 | €678,068 | €7,887,562 | +€7.2m | +1,063% |
| Land and buildings | 22 | €285,352 | €1,336,169 | +€1.1m | +368% |
| Plant, machinery and equipment | 23 | €317,191 | €1,693,312 | +€1.4m | +434% |
| Furniture and vehicles | 24 | €19,231 | €9,033 | -€10,198 | -53.0% |
| Leasing and similar rights | 25 | €56,294 | €4,849,047 | +€4.8m | +8,514% |
| Current assets | 29/58 | €2,175,113 | €2,204,657 | +€29,544 | +1.4% |
| Stocks and contracts in progress | 3 | €846,061 | €1,015,081 | +€169,020 | +20.0% |
| Stocks | 30/36 | €846,061 | €1,015,081 | +€169,020 | +20.0% |
| Amounts receivable within one year | 40/41 | €1,031,425 | €1,008,324 | -€23,100 | -2.2% |
| Trade receivables | 40 | €1,029,291 | €1,006,129 | -€23,162 | -2.3% |
| Other amounts receivable | 41 | €2,134 | €2,195 | +€61 | +2.9% |
| Cash at bank and in hand | 54/58 | €259,139 | €125,235 | -€133,904 | -51.7% |
| Deferred charges and accrued income | 490/1 | €38,489 | €56,017 | +€17,528 | +45.5% |
| Total equity and liabilities | 10/49 | €2,859,629 | €10,096,339 | +€7.2m | +253% |
| Equity | 10/15 | €1,210,007 | €1,230,141 | +€20,134 | +1.7% |
| Contributions | 10/11 | €99,158 | €99,158 | = | 0.0% |
| Capital | 10 | €99,158 | €99,158 | = | 0.0% |
| Issued capital | 100 | €99,158 | €99,158 | = | 0.0% |
| Reserves | 13 | €146,877 | €146,877 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,916 | €9,916 | = | 0.0% |
| Legal reserve | 130 | €9,916 | €9,916 | = | 0.0% |
| Distributable reserves | 133 | €136,961 | €136,961 | = | 0.0% |
| Profit (loss) carried forward | 14 | €963,973 | €984,106 | +€20,134 | +2.1% |
| Amounts payable | 17/49 | €1,649,622 | €8,866,198 | +€7.2m | +437% |
| Amounts payable after more than one year | 17 | €520,176 | €6,748,733 | +€6.2m | +1,197% |
| Financial debts | 170/4 | €520,176 | €6,748,733 | +€6.2m | +1,197% |
| Amounts payable within one year | 42/48 | €1,119,387 | €2,093,429 | +€974,041 | +87.0% |
| Current portion of amounts payable after more than one year | 42 | €145,425 | €757,171 | +€611,746 | +421% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €495,428 | €804,065 | +€308,637 | +62.3% |
| Suppliers | 440/4 | €495,428 | €804,065 | +€308,637 | +62.3% |
| Taxes, remuneration and social security | 45 | €123,207 | €154,434 | +€31,226 | +25.3% |
| Taxes | 450/3 | €52,105 | €27,441 | -€24,664 | -47.3% |
| Remuneration and social security | 454/9 | €71,103 | €126,993 | +€55,890 | +78.6% |
| Other amounts payable | 47/48 | €155,327 | €177,759 | +€22,432 | +14.4% |
| Accrued charges and deferred income | 492/3 | €10,059 | €24,036 | +€13,977 | +139% |
| Remuneration, social security and pensions | 62 | €1,008,862 | €1,810,150 | +€801,288 | +79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,406 | €711,923 | +€599,518 | +533% |
| Other operating charges | 640/8 | €98,884 | €147,165 | +€48,281 | +48.8% |
| Non-recurring operating charges | 66A | €7,951 | - | -€7,951 | |
| Gross operating margin | 9900 | €1,429,223 | €2,979,158 | +€1.5m | +108% |
| Operating profit (loss) | 9901 | €201,121 | €309,920 | +€108,799 | +54.1% |
| Financial income | 75/76B | €6,063 | €7,416 | +€1,353 | +22.3% |
| Recurring financial income | 75 | €6,063 | €7,416 | +€1,353 | +22.3% |
| Financial charges | 65/66B | €47,813 | €265,016 | +€217,203 | +454% |
| Recurring financial charges | 65 | €47,813 | €265,016 | +€217,203 | +454% |
| Profit (loss) for the period before taxes | 9903 | €159,371 | €52,320 | -€107,051 | -67.2% |
| Income taxes | 67/77 | €35,537 | €12,053 | -€23,485 | -66.1% |
| Profit (loss) for the period | 9904 | €123,833 | €40,267 | -€83,566 | -67.5% |
| Profit (loss) for the period to be appropriated | 9905 | €123,833 | €40,267 | -€83,566 | -67.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.