IMMO D.L.: 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.L.
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+68.4%), from €1.6m to €2.8m
of which Land and buildings: +€2.3m
- Receivables within one year +€57,134
up €57,134 (+5,713%), from €1,000 to €58,134
of which Trade receivables: +€57,134
- Short-term financial debts +€908,685
up €908,685, from €0 to €908,685
- Other debts +€268,872
up €268,872 (+110%), from €243,385 to €512,257
- Debts after one year -€156,580
down €156,580 (-13.2%), from €1.2m to €1.0m
- Accrued charges and deferred income +€98,370
up €98,370 (+1,014%), from €9,706 to €108,076
- Current portion of long-term debt +€41,329
new in 2025: €41,329
- Gross operating margin +€58,488
up €58,488 (+117%), from €49,824 to €108,312
- Depreciation +€32,151
up €32,151 (+127%), from €25,230 to €57,381
- Financial charges +€11,471
up €11,471 (+30.2%), from €38,028 to €49,499
- Other operating charges +€4,337
up €4,337 (+36.5%), from €11,873 to €16,210
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 | €1,648,735 | €2,823,298 | +€1.2m | +71.2% |
| Fixed assets | 21/28 | €1,639,008 | €2,759,712 | +€1.1m | +68.4% |
| Tangible fixed assets | 22/27 | €1,639,008 | €2,759,712 | +€1.1m | +68.4% |
| Land and buildings | 22 | €476,575 | €2,759,712 | +€2.3m | +479% |
| Assets under construction and advance payments | 27 | €1,162,432 | €0 | -€1.2m | -100% |
| Current assets | 29/58 | €9,727 | €63,587 | +€53,859 | +554% |
| Amounts receivable within one year | 40/41 | €1,000 | €58,134 | +€57,134 | +5,713% |
| Trade receivables | 40 | €0 | €57,134 | +€57,134 | |
| Other amounts receivable | 41 | €1,000 | €1,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,594 | €0 | -€1,594 | -100% |
| Deferred charges and accrued income | 490/1 | €7,133 | €5,453 | -€1,680 | -23.6% |
| Total equity and liabilities | 10/49 | €1,648,735 | €2,823,298 | +€1.2m | +71.2% |
| Equity | 10/15 | €209,507 | €194,729 | -€14,778 | -7.1% |
| Contributions | 10/11 | €217,898 | €217,898 | = | 0.0% |
| Capital | 10 | €217,898 | €217,898 | = | 0.0% |
| Issued capital | 100 | €217,898 | €217,898 | = | 0.0% |
| Reserves | 13 | €11,145 | €11,145 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,145 | €11,145 | = | 0.0% |
| Legal reserve | 130 | €11,145 | €11,145 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€19,536 | -€34,314 | -€14,778 | -75.6% |
| Amounts payable | 17/49 | €1,439,228 | €2,628,569 | +€1.2m | +82.6% |
| Amounts payable after more than one year | 17 | €1,184,141 | €1,027,561 | -€156,580 | -13.2% |
| Financial debts | 170/4 | €1,184,141 | €1,027,561 | -€156,580 | -13.2% |
| Amounts payable within one year | 42/48 | €245,381 | €1,492,933 | +€1.2m | +508% |
| Current portion of amounts payable after more than one year | 42 | - | €41,329 | +€41,329 | |
| Financial debts | 43 | €0 | €908,685 | +€908,685 | |
| Credit institutions | 430/8 | €0 | €908,685 | +€908,685 | |
| Trade debts | 44 | €1,996 | €30,662 | +€28,666 | +1,436% |
| Suppliers | 440/4 | €1,996 | €30,662 | +€28,666 | +1,436% |
| Other amounts payable | 47/48 | €243,385 | €512,257 | +€268,872 | +110% |
| Accrued charges and deferred income | 492/3 | €9,706 | €108,076 | +€98,370 | +1,014% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,230 | €57,381 | +€32,151 | +127% |
| Other operating charges | 640/8 | €11,873 | €16,210 | +€4,337 | +36.5% |
| Gross operating margin | 9900 | €49,824 | €108,312 | +€58,488 | +117% |
| Operating profit (loss) | 9901 | €12,721 | €34,720 | +€22,000 | +173% |
| Financial income | 75/76B | €1 | €1 | +€0 | +55.2% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +55.2% |
| Financial charges | 65/66B | €38,028 | €49,499 | +€11,471 | +30.2% |
| Recurring financial charges | 65 | €38,028 | €49,499 | +€11,471 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | -€25,307 | -€14,778 | +€10,529 | +41.6% |
| Profit (loss) for the period | 9904 | -€25,307 | -€14,778 | +€10,529 | +41.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,307 | -€14,778 | +€10,529 | +41.6% |
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 14 October 2026 via checked.be.