IMMO D'HULSTER: 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 D'HULSTER
Largest movements
- Tangible fixed assets -€255,132
down €255,132 (-100%), from €255,132 to €0
- Receivables within one year +€240,009
up €240,009 (+96.0%), from €250,109 to €490,118
of which Other amounts receivable: +€238,543
- Current investments -€93,048
down €93,048 (-51.4%), from €181,159 to €88,111
- Cash +€11,614
up €11,614 (+9.6%), from €121,582 to €133,196
mainly Investment in fixed assets (net) (+€255,132) and Current investments (+€93,048)
- Current portion of long-term debt -€56,912
down €56,912 (-100%), from €56,912 to €0
- Tax, wage and social debts -€41,307
down €41,307 (-85.9%), from €48,113 to €6,806
- Gross operating margin -€114,577
down €114,577 (-91.2%), from €125,617 to €11,040
- Taxes -€42,121
down €42,121 (-87.5%), from €48,113 to €5,992
- Other operating charges -€33,290
down €33,290 (-96.2%), from €34,612 to €1,322
- Financial income +€14,586
new in 2025: €14,586
- Depreciation -€9,189
down €9,189 (-100%), from €9,189 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.
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 | €952,548 | €854,769 | -€97,779 | -10.3% |
| Fixed assets | 21/28 | €255,437 | €305 | -€255,132 | -99.9% |
| Tangible fixed assets | 22/27 | €255,132 | €0 | -€255,132 | -100% |
| Land and buildings | 22 | €255,132 | €0 | -€255,132 | -100% |
| Financial fixed assets | 28 | €305 | €305 | = | 0.0% |
| Current assets | 29/58 | €697,111 | €854,464 | +€157,353 | +22.6% |
| Amounts receivable after more than one year | 29 | €142,999 | €142,999 | = | 0.0% |
| Other amounts receivable | 291 | €142,999 | €142,999 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €250,109 | €490,118 | +€240,009 | +96.0% |
| Trade receivables | 40 | €4,557 | €6,022 | +€1,466 | +32.2% |
| Other amounts receivable | 41 | €245,552 | €484,096 | +€238,543 | +97.1% |
| Current investments | 50/53 | €181,159 | €88,111 | -€93,048 | -51.4% |
| Cash at bank and in hand | 54/58 | €121,582 | €133,196 | +€11,614 | +9.6% |
| Deferred charges and accrued income | 490/1 | €1,263 | €40 | -€1,222 | -96.8% |
| Total equity and liabilities | 10/49 | €952,548 | €854,769 | -€97,779 | -10.3% |
| Equity | 10/15 | €847,524 | €846,119 | -€1,405 | -0.2% |
| Contributions | 10/11 | €151,358 | €151,358 | = | 0.0% |
| Reserves | 13 | €410,283 | €410,283 | = | 0.0% |
| Distributable reserves | 133 | €410,283 | €410,283 | = | 0.0% |
| Profit (loss) carried forward | 14 | €285,882 | €284,477 | -€1,405 | -0.5% |
| Amounts payable | 17/49 | €105,024 | €8,650 | -€96,375 | -91.8% |
| Amounts payable within one year | 42/48 | €105,024 | €8,650 | -€96,375 | -91.8% |
| Current portion of amounts payable after more than one year | 42 | €56,912 | €0 | -€56,912 | -100% |
| Trade debts | 44 | - | €1,844 | +€1,844 | |
| Suppliers | 440/4 | - | €1,844 | +€1,844 | |
| Taxes, remuneration and social security | 45 | €48,113 | €6,806 | -€41,307 | -85.9% |
| Taxes | 450/3 | €48,113 | €6,806 | -€41,307 | -85.9% |
| Non-recurring operating income | 76A | €171,873 | €14,868 | -€157,005 | -91.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,189 | €0 | -€9,189 | -100% |
| Other operating charges | 640/8 | €34,612 | €1,322 | -€33,290 | -96.2% |
| Gross operating margin | 9900 | €125,617 | €11,040 | -€114,577 | -91.2% |
| Operating profit (loss) | 9901 | €81,816 | €9,718 | -€72,098 | -88.1% |
| Financial income | 75/76B | - | €14,586 | +€14,586 | |
| Recurring financial income | 75 | - | €14,586 | +€14,586 | |
| Financial charges | 65/66B | €12,411 | €19,717 | +€7,307 | +58.9% |
| Recurring financial charges | 65 | €12,411 | €701 | -€11,709 | -94.3% |
| Non-recurring financial charges | 66B | - | €19,016 | +€19,016 | |
| Profit (loss) for the period before taxes | 9903 | €69,406 | €4,587 | -€64,819 | -93.4% |
| Transfer from deferred taxes | 780 | €37,369 | €0 | -€37,369 | -100% |
| Income taxes | 67/77 | €48,113 | €5,992 | -€42,121 | -87.5% |
| Profit (loss) for the period | 9904 | €58,662 | -€1,405 | -€60,067 | |
| Transfer from tax-exempt reserves | 789 | €36,324 | €0 | -€36,324 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €94,986 | -€1,405 | -€96,391 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.