IMMO CUSTERS: what changed
Two fiscal 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.
What changed
IMMO CUSTERS
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€65,599
2024 · €31,818-€97,417
Equity
€1.1m
2024 · €1.2m-€65,599
Cash
€284,631
2024 · €423,300-€138,668
Balance sheet total
€2.6m
2024 · €2.8m-€221,206
Largest movements
Assets
- Cash -€138,668
down €138,668 (-32.8%), from €423,300 to €284,631
mainly Trade debts (-€69,951) and Provisions (-€67,905)
- Tangible fixed assets -€77,113
down €77,113 (-4.2%), from €1.9m to €1.8m
of which Land and buildings: -€72,126
Equity and liabilities
- Reserves -€134,753
down €134,753 (-13.1%), from €1.0m to €896,233
of which Tax-exempt reserves: -€203,716
- Trade debts -€69,951
down €69,951 (-24.7%), from €283,557 to €213,606
- Profit (loss) carried forward +€69,153
up €69,153, from -€69,153 to €0
- Provisions -€67,905
down €67,905 (-25.3%), from €268,322 to €200,416
- Debts after one year -€58,509
down €58,509 (-9.2%), from €636,106 to €577,597
Income statement
- Gross operating margin -€142,972
down €142,972 (-60.3%), from €236,926 to €93,954
- Taxes +€37,667
up €37,667, from -€191 to €37,475
- Financial income -€11,210
down €11,210 (-96.5%), from €11,621 to €411
- Staff costs -€7,878
down €7,878 (-100.0%), from €7,878 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.
Result 2024
€31,818
Gross operating margin
-€142,972
Staff costs
+€7,878
Depreciation
+€659
Other operating charges
+€1,405
Other operating items
-€17,792
Financial income
-€11,210
Financial charges
+€720
Taxes
-€37,667
Deferred taxes and other
+€101,563
Result 2025
-€65,599
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.
From operations
-€30,859
Investment
-€43,688
Financing
-€64,121
Cash 2024
€423,300
From operations (derived)
-€30,859
Net result for the year
-€65,599
Depreciation
+€120,801
Receivables after one year
+€12,000
Receivables within one year
-€7,983
Deferred charges and accrued income
+€1,408
Provisions
-€67,905
Trade debts
-€69,951
Tax, wage and social debts
+€31,569
Other debts
+€14,947
Accrued charges and deferred income
-€145
Investment (derived)
-€43,688
Investment in fixed assets (net)
-€43,688
Financing
-€64,121
Debts after one year
-€58,509
Current portion of long-term debt
-€5,612
Cash 2025
€284,631
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,808,901 | €2,587,695 | -€221,206 | -7.9% |
| Fixed assets | 21/28 | €2,033,132 | €1,956,020 | -€77,113 | -3.8% |
| Tangible fixed assets | 22/27 | €1,853,832 | €1,776,720 | -€77,113 | -4.2% |
| Land and buildings | 22 | €1,845,979 | €1,773,853 | -€72,126 | -3.9% |
| Plant, machinery and equipment | 23 | €1,718 | €24 | -€1,694 | -98.6% |
| Furniture and vehicles | 24 | €6,135 | €2,843 | -€3,292 | -53.7% |
| Financial fixed assets | 28 | €179,300 | €179,300 | = | 0.0% |
| Current assets | 29/58 | €775,768 | €631,675 | -€144,093 | -18.6% |
| Amounts receivable after more than one year | 29 | €298,000 | €286,000 | -€12,000 | -4.0% |
| Other amounts receivable | 291 | €298,000 | €286,000 | -€12,000 | -4.0% |
| Amounts receivable within one year | 40/41 | €50,739 | €58,722 | +€7,983 | +15.7% |
| Trade receivables | 40 | €29,624 | €37,512 | +€7,888 | +26.6% |
| Other amounts receivable | 41 | €21,114 | €21,210 | +€95 | +0.5% |
| Cash at bank and in hand | 54/58 | €423,300 | €284,631 | -€138,668 | -32.8% |
| Deferred charges and accrued income | 490/1 | €3,730 | €2,322 | -€1,408 | -37.7% |
| Total equity and liabilities | 10/49 | €2,808,901 | €2,587,695 | -€221,206 | -7.9% |
| Equity | 10/15 | €1,170,910 | €1,105,311 | -€65,599 | -5.6% |
| Contributions | 10/11 | €209,078 | €209,078 | = | 0.0% |
| Reserves | 13 | €1,030,986 | €896,233 | -€134,753 | -13.1% |
| Tax-exempt reserves | 132 | €811,534 | €607,817 | -€203,716 | -25.1% |
| Distributable reserves | 133 | €219,452 | €288,416 | +€68,964 | +31.4% |
| Profit (loss) carried forward | 14 | -€69,153 | €0 | +€69,153 | |
| Provisions and deferred taxes | 16 | €268,322 | €200,416 | -€67,905 | -25.3% |
| Deferred taxes | 168 | €268,322 | €200,416 | -€67,905 | -25.3% |
| Amounts payable | 17/49 | €1,369,669 | €1,281,968 | -€87,701 | -6.4% |
| Amounts payable after more than one year | 17 | €636,106 | €577,597 | -€58,509 | -9.2% |
| Financial debts | 170/4 | €636,106 | €577,597 | -€58,509 | -9.2% |
| Amounts payable within one year | 42/48 | €733,418 | €704,371 | -€29,047 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €65,028 | €59,416 | -€5,612 | -8.6% |
| Trade debts | 44 | €283,557 | €213,606 | -€69,951 | -24.7% |
| Suppliers | 440/4 | €283,557 | €213,606 | -€69,951 | -24.7% |
| Taxes, remuneration and social security | 45 | €18,698 | €50,267 | +€31,569 | +168.8% |
| Taxes | 450/3 | €16,170 | €50,267 | +€34,097 | +210.9% |
| Remuneration and social security | 454/9 | €2,528 | €0 | -€2,528 | -100.0% |
| Other amounts payable | 47/48 | €366,135 | €381,082 | +€14,947 | +4.1% |
| Accrued charges and deferred income | 492/3 | €145 | €0 | -€145 | -100.0% |
| Non-recurring operating income | 76A | €164,792 | €0 | -€164,792 | -100.0% |
| Remuneration, social security and pensions | 62 | €7,878 | €0 | -€7,878 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,460 | €120,801 | -€659 | -0.5% |
| Other operating charges | 640/8 | €15,536 | €14,131 | -€1,405 | -9.0% |
| Non-recurring operating charges | 66A | - | €17,792 | +€17,792 | |
| Gross operating margin | 9900 | €236,926 | €93,954 | -€142,972 | -60.3% |
| Operating profit (loss) | 9901 | €92,053 | -€58,769 | -€150,822 | |
| Financial income | 75/76B | €11,621 | €411 | -€11,210 | -96.5% |
| Recurring financial income | 75 | €11,621 | €411 | -€11,210 | -96.5% |
| Financial charges | 65/66B | €38,390 | €37,671 | -€720 | -1.9% |
| Recurring financial charges | 65 | €38,390 | €37,671 | -€720 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €65,284 | -€96,029 | -€161,313 | |
| Transfer from deferred taxes | 780 | €7,541 | €67,905 | +€60,365 | +800.5% |
| Transfer to deferred taxes | 680 | €41,198 | €0 | -€41,198 | -100.0% |
| Income taxes | 67/77 | -€191 | €37,475 | +€37,667 | |
| Profit (loss) for the period | 9904 | €31,818 | -€65,599 | -€97,417 | |
| Transfer from tax-exempt reserves | 789 | €22,622 | €203,716 | +€181,094 | +800.5% |
| Transfer to tax-exempt reserves | 689 | €123,594 | €0 | -€123,594 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€69,153 | €138,117 | +€207,270 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.