IMMO D.E.S.: 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.
IMMO D.E.S.
Largest movements
- Current investments +€725,000
new in 2025: €725,000
- Cash -€242,903
down €242,903 (-65.6%), from €370,401 to €127,498
mainly Current investments (-€725,000) and Provisions (-€21,067)
- Tangible fixed assets -€198,805
down €198,805 (-5.5%), from €3.6m to €3.4m
of which Land and buildings: -€174,750
- Reserves +€292,156
up €292,156 (+8.2%), from €3.6m to €3.8m
of which Distributable reserves: +€350,000
- Gross operating margin -€35,850
down €35,850 (-5.3%), from €682,611 to €646,761
- Depreciation +€16,625
up €16,625 (+9.1%), from €182,179 to €198,805
- Taxes -€11,018
down €11,018 (-8.6%), from €127,566 to €116,549
- Financial income +€7,549
up €7,549 (+75487.6%), from €10 to €7,559
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 | €4,307,688 | €4,569,068 | +€261,380 | +6.1% |
| Fixed assets | 21/28 | €3,615,983 | €3,417,179 | -€198,805 | -5.5% |
| Tangible fixed assets | 22/27 | €3,615,943 | €3,417,139 | -€198,805 | -5.5% |
| Land and buildings | 22 | €3,501,210 | €3,326,460 | -€174,750 | -5.0% |
| Plant, machinery and equipment | 23 | €1,722 | €1,345 | -€377 | -21.9% |
| Furniture and vehicles | 24 | €113,011 | €89,334 | -€23,678 | -21.0% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €691,704 | €1,151,889 | +€460,184 | +66.5% |
| Amounts receivable after more than one year | 29 | €289,991 | €289,991 | = | 0.0% |
| Trade receivables | 290 | €289,991 | €289,991 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,973 | €5,939 | -€23,033 | -79.5% |
| Other amounts receivable | 41 | €28,973 | €5,939 | -€23,033 | -79.5% |
| Current investments | 50/53 | - | €725,000 | +€725,000 | |
| Cash at bank and in hand | 54/58 | €370,401 | €127,498 | -€242,903 | -65.6% |
| Deferred charges and accrued income | 490/1 | €2,340 | €3,461 | +€1,121 | +47.9% |
| Total equity and liabilities | 10/49 | €4,307,688 | €4,569,068 | +€261,380 | +6.1% |
| Equity | 10/15 | €4,002,956 | €4,292,743 | +€289,787 | +7.2% |
| Contributions | 10/11 | €442,111 | €442,111 | = | 0.0% |
| Capital | 10 | €442,000 | €442,000 | = | 0.0% |
| Issued capital | 100 | €442,000 | €442,000 | = | 0.0% |
| Outside capital | 11 | €111 | €111 | = | 0.0% |
| Share premium | 1100/10 | €111 | €111 | = | 0.0% |
| Reserves | 13 | €3,551,847 | €3,844,003 | +€292,156 | +8.2% |
| Non-distributable reserves | 130/1 | €44,200 | €44,200 | = | 0.0% |
| Legal reserve | 130 | €44,200 | €44,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €703,647 | €645,803 | -€57,844 | -8.2% |
| Distributable reserves | 133 | €2,804,000 | €3,154,000 | +€350,000 | +12.5% |
| Profit (loss) carried forward | 14 | €8,998 | €6,629 | -€2,369 | -26.3% |
| Provisions and deferred taxes | 16 | €245,594 | €224,527 | -€21,067 | -8.6% |
| Deferred taxes | 168 | €245,594 | €224,527 | -€21,067 | -8.6% |
| Amounts payable | 17/49 | €59,139 | €51,798 | -€7,341 | -12.4% |
| Amounts payable after more than one year | 17 | €100 | €100 | = | 0.0% |
| Other amounts payable | 178/9 | €100 | €100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €33,117 | €26,063 | -€7,053 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €23,050 | €23,466 | +€416 | +1.8% |
| Suppliers | 440/4 | €23,050 | €23,466 | +€416 | +1.8% |
| Taxes, remuneration and social security | 45 | €10,066 | €1,865 | -€8,201 | -81.5% |
| Taxes | 450/3 | €10,066 | €1,865 | -€8,201 | -81.5% |
| Other amounts payable | 47/48 | - | €733 | +€733 | |
| Accrued charges and deferred income | 492/3 | €25,922 | €25,634 | -€288 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,179 | €198,805 | +€16,625 | +9.1% |
| Other operating charges | 640/8 | €74,245 | €69,692 | -€4,553 | -6.1% |
| Gross operating margin | 9900 | €682,611 | €646,761 | -€35,850 | -5.3% |
| Operating profit (loss) | 9901 | €426,187 | €378,264 | -€47,922 | -11.2% |
| Financial income | 75/76B | €10 | €7,559 | +€7,549 | +75487.6% |
| Recurring financial income | 75 | €10 | €7,559 | +€7,549 | +75487.6% |
| Financial charges | 65/66B | €655 | €554 | -€101 | -15.4% |
| Recurring financial charges | 65 | €655 | €554 | -€101 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €425,542 | €385,269 | -€40,273 | -9.5% |
| Transfer from deferred taxes | 780 | €21,067 | €21,067 | +€0 | 0.0% |
| Income taxes | 67/77 | €127,566 | €116,549 | -€11,018 | -8.6% |
| Profit (loss) for the period | 9904 | €319,042 | €289,787 | -€29,255 | -9.2% |
| Transfer from tax-exempt reserves | 789 | €57,844 | €57,844 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €376,886 | €347,631 | -€29,255 | -7.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.