IMMO D12: 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 D12
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+695.9%), from €187,715 to €1.5m
- Receivables within one year +€305,651
up €305,651 (+161720.2%), from €189 to €305,840
of which Trade receivables: +€305,475
- Debts after one year +€915,081
new in 2025: €915,081
- Trade debts +€386,103
new in 2025: €386,103
- Other debts +€370,600
up €370,600 (+186.9%), from €198,261 to €568,862
- Profit (loss) carried forward -€56,371
down €56,371 (-1493.6%), from -€3,774 to -€60,145
- Depreciation +€27,453
up €27,453 (+1291.0%), from €2,126 to €29,579
- Financial charges +€14,967
up €14,967 (+299330.2%), from €5 to €14,972
- Gross operating margin -€9,454
down €9,454 (-575.4%), from -€1,643 to -€11,096
- Other operating charges +€824
new in 2025: €824
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 | €194,587 | €1,809,900 | +€1.6m | +830.1% |
| Fixed assets | 21/28 | €187,715 | €1,493,994 | +€1.3m | +695.9% |
| Tangible fixed assets | 22/27 | €187,715 | €1,493,994 | +€1.3m | +695.9% |
| Land and buildings | 22 | €187,715 | €1,493,994 | +€1.3m | +695.9% |
| Current assets | 29/58 | €6,872 | €315,906 | +€309,034 | +4496.8% |
| Amounts receivable within one year | 40/41 | €189 | €305,840 | +€305,651 | +161720.2% |
| Trade receivables | 40 | - | €305,475 | +€305,475 | |
| Other amounts receivable | 41 | €189 | €365 | +€176 | +93.3% |
| Cash at bank and in hand | 54/58 | €6,683 | €9,720 | +€3,037 | +45.4% |
| Deferred charges and accrued income | 490/1 | - | €346 | +€346 | |
| Total equity and liabilities | 10/49 | €194,587 | €1,809,900 | +€1.6m | +830.1% |
| Equity | 10/15 | -€3,674 | -€60,145 | -€56,471 | -1536.9% |
| Contributions | 10/11 | €100 | - | -€100 | |
| Profit (loss) carried forward | 14 | -€3,774 | -€60,145 | -€56,371 | -1493.6% |
| Amounts payable | 17/49 | €198,261 | €1,870,045 | +€1.7m | +843.2% |
| Amounts payable after more than one year | 17 | - | €915,081 | +€915,081 | |
| Financial debts | 170/4 | - | €915,081 | +€915,081 | |
| Amounts payable within one year | 42/48 | €198,261 | €954,964 | +€756,703 | +381.7% |
| Trade debts | 44 | - | €386,103 | +€386,103 | |
| Suppliers | 440/4 | - | €386,103 | +€386,103 | |
| Other amounts payable | 47/48 | €198,261 | €568,862 | +€370,600 | +186.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,126 | €29,579 | +€27,453 | +1291.0% |
| Other operating charges | 640/8 | - | €824 | +€824 | |
| Gross operating margin | 9900 | -€1,643 | -€11,096 | -€9,454 | -575.4% |
| Operating profit (loss) | 9901 | -€3,769 | -€41,499 | -€37,730 | -1001.0% |
| Financial charges | 65/66B | €5 | €14,972 | +€14,967 | +299330.2% |
| Recurring financial charges | 65 | €5 | €14,972 | +€14,967 | +299330.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,774 | -€56,471 | -€52,697 | -1396.2% |
| Profit (loss) for the period | 9904 | -€3,774 | -€56,471 | -€52,697 | -1396.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,774 | -€56,471 | -€52,697 | -1396.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.