IMMO D & D: 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.
What changed
IMMO D & D
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€6,672
2024 · €34,856-€28,184
Equity
€1.4m
2024 · €1.4m+€6,672
Cash
€37,236
2024 · €102,177-€64,941
Balance sheet total
€1.6m
2024 · €1.6m-€32,325
Largest movements
Assets
- Current investments +€120,000
up €120,000, from €0 to €120,000
- Tangible fixed assets -€91,067
down €91,067 (-6.1%), from €1.5m to €1.4m
- Cash -€64,941
down €64,941 (-63.6%), from €102,177 to €37,236
mainly Current investments (-€120,000) and Debts after one year (-€35,132)
Equity and liabilities
- Debts after one year -€35,132
down €35,132 (-36.4%), from €96,498 to €61,366
of which Financial debts: -€35,132
Income statement
- Depreciation +€41,501
up €41,501 (+83.7%), from €49,567 to €91,067
- Gross operating margin +€11,906
up €11,906 (+9.0%), from €131,575 to €143,482
- Taxes -€11,434
down €11,434 (-57.9%), from €19,755 to €8,321
- Financial income -€11,296
down €11,296 (-99.3%), from €11,374 to €78
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
€34,856
Gross operating margin
+€11,906
Depreciation
-€41,501
Other operating charges
-€805
Financial income
-€11,296
Financial charges
+€386
Taxes
+€11,434
Deferred taxes and other
+€1,692
Result 2025
€6,672
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€89,780
Investment
-€120,000
Financing
-€34,721
Cash 2024
€102,177
From operations (derived)
+€89,780
Net result for the year
+€6,672
Depreciation
+€91,067
Receivables within one year
-€3,429
Deferred charges and accrued income
-€255
Provisions
-€3,514
Trade debts
+€5,299
Tax, wage and social debts
-€7,785
Accrued charges and deferred income
+€1,724
Investment (derived)
-€120,000
Current investments
-€120,000
Financing
-€34,721
Debts after one year
-€35,132
Current portion of long-term debt
+€411
Cash 2025
€37,236
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,627,509 | €1,595,184 | -€32,325 | -2.0% |
| Fixed assets | 21/28 | €1,502,142 | €1,411,075 | -€91,067 | -6.1% |
| Tangible fixed assets | 22/27 | €1,502,062 | €1,410,995 | -€91,067 | -6.1% |
| Land and buildings | 22 | €1,502,062 | €1,410,995 | -€91,067 | -6.1% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €125,367 | €184,109 | +€58,742 | +46.9% |
| Amounts receivable within one year | 40/41 | €21,997 | €25,426 | +€3,429 | +15.6% |
| Trade receivables | 40 | €6,549 | €25,271 | +€18,722 | +286% |
| Other amounts receivable | 41 | €15,448 | €155 | -€15,292 | -99.0% |
| Current investments | 50/53 | €0 | €120,000 | +€120,000 | |
| Cash at bank and in hand | 54/58 | €102,177 | €37,236 | -€64,941 | -63.6% |
| Deferred charges and accrued income | 490/1 | €1,192 | €1,447 | +€255 | +21.4% |
| Total equity and liabilities | 10/49 | €1,627,509 | €1,595,184 | -€32,325 | -2.0% |
| Equity | 10/15 | €1,372,135 | €1,378,808 | +€6,672 | +0.5% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Capital | 10 | €450,000 | €450,000 | = | 0.0% |
| Issued capital | 100 | €450,000 | €450,000 | = | 0.0% |
| Reserves | 13 | €709,175 | €715,848 | +€6,672 | +0.9% |
| Non-distributable reserves | 130/1 | €45,000 | €45,000 | = | 0.0% |
| Legal reserve | 130 | €45,000 | €45,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €299,228 | €288,686 | -€10,543 | -3.5% |
| Distributable reserves | 133 | €364,947 | €382,162 | +€17,215 | +4.7% |
| Profit (loss) carried forward | 14 | €212,960 | €212,960 | = | 0.0% |
| Provisions and deferred taxes | 16 | €99,743 | €96,229 | -€3,514 | -3.5% |
| Deferred taxes | 168 | €99,743 | €96,229 | -€3,514 | -3.5% |
| Amounts payable | 17/49 | €155,630 | €120,148 | -€35,483 | -22.8% |
| Amounts payable after more than one year | 17 | €96,498 | €61,366 | -€35,132 | -36.4% |
| Financial debts | 170/4 | €94,609 | €59,478 | -€35,132 | -37.1% |
| Other amounts payable | 178/9 | €1,889 | €1,889 | = | 0.0% |
| Amounts payable within one year | 42/48 | €57,639 | €55,563 | -€2,076 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €34,721 | €35,132 | +€411 | +1.2% |
| Trade debts | 44 | €1,327 | €6,626 | +€5,299 | +399% |
| Suppliers | 440/4 | €1,327 | €6,626 | +€5,299 | +399% |
| Taxes, remuneration and social security | 45 | €15,504 | €7,719 | -€7,785 | -50.2% |
| Taxes | 450/3 | €15,504 | €7,719 | -€7,785 | -50.2% |
| Other amounts payable | 47/48 | €6,087 | €6,087 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,494 | €3,218 | +€1,724 | +115% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,567 | €91,067 | +€41,501 | +83.7% |
| Other operating charges | 640/8 | €38,779 | €39,584 | +€805 | +2.1% |
| Gross operating margin | 9900 | €131,575 | €143,482 | +€11,906 | +9.0% |
| Operating profit (loss) | 9901 | €43,230 | €12,830 | -€30,400 | -70.3% |
| Financial income | 75/76B | €11,374 | €78 | -€11,296 | -99.3% |
| Recurring financial income | 75 | €11,374 | €78 | -€11,296 | -99.3% |
| Financial charges | 65/66B | €1,815 | €1,429 | -€386 | -21.3% |
| Recurring financial charges | 65 | €1,815 | €1,429 | -€386 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €52,789 | €11,479 | -€41,310 | -78.3% |
| Transfer from deferred taxes | 780 | €1,823 | €3,514 | +€1,692 | +92.8% |
| Income taxes | 67/77 | €19,755 | €8,321 | -€11,434 | -57.9% |
| Profit (loss) for the period | 9904 | €34,856 | €6,672 | -€28,184 | -80.9% |
| Transfer from tax-exempt reserves | 789 | €5,468 | €10,543 | +€5,075 | +92.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,324 | €17,215 | -€23,109 | -57.3% |
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 15 October 2026 via checked.be.