IMMO D. S. 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.
IMMO D. S. D.
Largest movements
- Tangible fixed assets -€30,092
down €30,092 (-7.9%), from €381,963 to €351,871
of which Land and buildings: -€26,299
- Cash -€19,788
down €19,788 (-25.5%), from €77,701 to €57,914
mainly Net result for the year (-€59,687) and Receivables within one year (-€3,372)
- Profit (loss) carried forward -€52,921
down €52,921 (-30.0%), from -€176,382 to -€229,302
- Trade debts +€17,456
up €17,456 (+213%), from €8,195 to €25,652
- Reserves -€6,766
down €6,766 (-1.9%), from €351,653 to €344,887
of which Tax-exempt reserves: -€6,766
- Gross operating margin -€60,283
down €60,283, from €35,603 to -€24,680
- Other operating charges -€4,567
down €4,567 (-40.3%), from €11,347 to €6,779
- Financial income -€1,397
down €1,397 (-65.3%), from €2,140 to €743
- Depreciation -€621
down €621 (-2.0%), from €30,941 to €30,320
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 | €512,047 | €465,773 | -€46,274 | -9.0% |
| Fixed assets | 21/28 | €382,213 | €352,121 | -€30,092 | -7.9% |
| Tangible fixed assets | 22/27 | €381,963 | €351,871 | -€30,092 | -7.9% |
| Land and buildings | 22 | €374,711 | €348,412 | -€26,299 | -7.0% |
| Plant, machinery and equipment | 23 | €5,084 | €2,782 | -€2,302 | -45.3% |
| Furniture and vehicles | 24 | €2,168 | €678 | -€1,490 | -68.7% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €129,834 | €113,651 | -€16,183 | -12.5% |
| Amounts receivable within one year | 40/41 | €51,206 | €54,577 | +€3,372 | +6.6% |
| Trade receivables | 40 | €49,554 | €43,078 | -€6,476 | -13.1% |
| Other amounts receivable | 41 | €1,652 | €11,500 | +€9,847 | +596% |
| Cash at bank and in hand | 54/58 | €77,701 | €57,914 | -€19,788 | -25.5% |
| Deferred charges and accrued income | 490/1 | €927 | €1,160 | +€234 | +25.2% |
| Total equity and liabilities | 10/49 | €512,047 | €465,773 | -€46,274 | -9.0% |
| Equity | 10/15 | €236,771 | €177,084 | -€59,687 | -25.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €351,653 | €344,887 | -€6,766 | -1.9% |
| Tax-exempt reserves | 132 | €57,653 | €50,887 | -€6,766 | -11.7% |
| Distributable reserves | 133 | €294,000 | €294,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€176,382 | -€229,302 | -€52,921 | -30.0% |
| Provisions and deferred taxes | 16 | €19,218 | €16,962 | -€2,255 | -11.7% |
| Deferred taxes | 168 | €19,218 | €16,962 | -€2,255 | -11.7% |
| Amounts payable | 17/49 | €256,059 | €271,726 | +€15,667 | +6.1% |
| Amounts payable within one year | 42/48 | €256,059 | €271,726 | +€15,667 | +6.1% |
| Trade debts | 44 | €8,195 | €25,652 | +€17,456 | +213% |
| Suppliers | 440/4 | €8,195 | €25,652 | +€17,456 | +213% |
| Advances received on contracts in progress | 46 | €16,468 | €16,433 | -€35 | -0.2% |
| Taxes, remuneration and social security | 45 | €1,754 | - | -€1,754 | |
| Taxes | 450/3 | €1,754 | - | -€1,754 | |
| Other amounts payable | 47/48 | €229,642 | €229,642 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €1,070 | €858 | -€211 | -19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,941 | €30,320 | -€621 | -2.0% |
| Other operating charges | 640/8 | €11,347 | €6,779 | -€4,567 | -40.3% |
| Non-recurring operating charges | 66A | €188,381 | - | -€188,381 | |
| Gross operating margin | 9900 | €35,603 | -€24,680 | -€60,283 | |
| Operating profit (loss) | 9901 | -€196,135 | -€62,637 | +€133,498 | +68.1% |
| Financial income | 75/76B | €2,140 | €743 | -€1,397 | -65.3% |
| Recurring financial income | 75 | €2,140 | €743 | -€1,397 | -65.3% |
| Financial charges | 65/66B | €90 | €48 | -€42 | -46.9% |
| Recurring financial charges | 65 | €90 | €48 | -€42 | -46.9% |
| Profit (loss) for the period before taxes | 9903 | -€194,084 | -€61,942 | +€132,142 | +68.1% |
| Transfer from deferred taxes | 780 | €3,066 | €2,255 | -€811 | -26.4% |
| Profit (loss) for the period | 9904 | -€191,018 | -€59,687 | +€131,331 | +68.8% |
| Transfer from tax-exempt reserves | 789 | €5,955 | €6,766 | +€811 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€185,063 | -€52,921 | +€132,142 | +71.4% |
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 13 October 2026 via checked.be.