IMMO D3: 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 D3
Largest movements
- Deferred charges and accrued income -€1.2m
down €1.2m (-100.0%), from €1.2m to €74
- Tangible fixed assets -€938,043
down €938,043 (-31.8%), from €3.0m to €2.0m
of which Land and buildings: -€607,741
- Financial fixed assets -€430,000
down €430,000 (-46.8%), from €919,473 to €489,473
- Stocks and contracts +€372,579
up €372,579 (+49.4%), from €754,781 to €1.1m
- Receivables within one year -€321,945
down €321,945 (-41.4%), from €777,419 to €455,474
of which Other amounts receivable: -€207,535
- Debts after one year -€3.3m
down €3.3m (-74.5%), from €4.4m to €1.1m
of which Financial debts: -€3.3m
- Short-term financial debts +€1.4m
up €1.4m (+725.4%), from €191,888 to €1.6m
- Trade debts -€428,294
down €428,294 (-100.0%), from €428,294 to €0
- Other debts -€244,428
down €244,428 (-37.0%), from €660,039 to €415,611
- Reserves +€194,547
up €194,547 (+14.9%), from €1.3m to €1.5m
of which Distributable reserves: +€194,547
- Gross operating margin +€684,418
up €684,418 (+179.2%), from €381,964 to €1.1m
- Other operating charges +€511,242
up €511,242 (+2349.7%), from €21,758 to €533,000
- Financial income +€264,314
up €264,314 (+5208.3%), from €5,075 to €269,388
- Taxes +€78,728
up €78,728 (+147.6%), from €53,355 to €132,083
- Depreciation -€35,551
down €35,551 (-24.9%), from €142,660 to €107,110
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 | €7,652,800 | €5,283,022 | -€2.4m | -31.0% |
| Fixed assets | 21/28 | €3,872,555 | €2,504,512 | -€1.4m | -35.3% |
| Tangible fixed assets | 22/27 | €2,953,082 | €2,015,039 | -€938,043 | -31.8% |
| Land and buildings | 22 | €2,589,924 | €1,982,183 | -€607,741 | -23.5% |
| Plant, machinery and equipment | 23 | €514 | €342 | -€171 | -33.3% |
| Furniture and vehicles | 24 | €342,353 | €18,218 | -€324,134 | -94.7% |
| Other tangible fixed assets | 26 | €20,291 | €14,295 | -€5,996 | -29.6% |
| Financial fixed assets | 28 | €919,473 | €489,473 | -€430,000 | -46.8% |
| Current assets | 29/58 | €3,780,245 | €2,778,510 | -€1.0m | -26.5% |
| Stocks and contracts in progress | 3 | €754,781 | €1,127,360 | +€372,579 | +49.4% |
| Stocks | 30/36 | €754,781 | €1,127,360 | +€372,579 | +49.4% |
| Amounts receivable within one year | 40/41 | €777,419 | €455,474 | -€321,945 | -41.4% |
| Trade receivables | 40 | €118,294 | €3,884 | -€114,410 | -96.7% |
| Other amounts receivable | 41 | €659,125 | €451,590 | -€207,535 | -31.5% |
| Current investments | 50/53 | €1,061,219 | €1,166,219 | +€105,000 | +9.9% |
| Cash at bank and in hand | 54/58 | €31,117 | €29,383 | -€1,734 | -5.6% |
| Deferred charges and accrued income | 490/1 | €1,155,710 | €74 | -€1.2m | -100.0% |
| Total equity and liabilities | 10/49 | €7,652,800 | €5,283,022 | -€2.4m | -31.0% |
| Equity | 10/15 | €1,674,451 | €1,868,998 | +€194,547 | +11.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Outside capital | 11 | €12,400 | - | -€12,400 | |
| Other | 1109/19 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €1,306,860 | €1,501,407 | +€194,547 | +14.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,305,000 | €1,499,547 | +€194,547 | +14.9% |
| Profit (loss) carried forward | 14 | €355,191 | €355,191 | = | 0.0% |
| Amounts payable | 17/49 | €5,978,350 | €3,414,025 | -€2.6m | -42.9% |
| Amounts payable after more than one year | 17 | €4,449,686 | €1,136,191 | -€3.3m | -74.5% |
| Financial debts | 170/4 | €4,440,686 | €1,127,191 | -€3.3m | -74.6% |
| Other amounts payable | 178/9 | €9,000 | €9,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,528,664 | €2,277,834 | +€749,170 | +49.0% |
| Current portion of amounts payable after more than one year | 42 | €205,138 | €163,234 | -€41,904 | -20.4% |
| Financial debts | 43 | €191,888 | €1,583,755 | +€1.4m | +725.4% |
| Credit institutions | 430/8 | €191,888 | €1,583,755 | +€1.4m | +725.4% |
| Trade debts | 44 | €428,294 | €0 | -€428,294 | -100.0% |
| Suppliers | 440/4 | €428,294 | €0 | -€428,294 | -100.0% |
| Taxes, remuneration and social security | 45 | €43,304 | €115,234 | +€71,930 | +166.1% |
| Taxes | 450/3 | €43,304 | €115,234 | +€71,930 | +166.1% |
| Other amounts payable | 47/48 | €660,039 | €415,611 | -€244,428 | -37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,660 | €107,110 | -€35,551 | -24.9% |
| Other operating charges | 640/8 | €21,758 | €533,000 | +€511,242 | +2349.7% |
| Gross operating margin | 9900 | €381,964 | €1,066,382 | +€684,418 | +179.2% |
| Operating profit (loss) | 9901 | €217,545 | €426,272 | +€208,726 | +95.9% |
| Financial income | 75/76B | €5,075 | €269,388 | +€264,314 | +5208.3% |
| Recurring financial income | 75 | €5,075 | €269,388 | +€264,314 | +5208.3% |
| Financial charges | 65/66B | €202,141 | €169,030 | -€33,110 | -16.4% |
| Recurring financial charges | 65 | €202,141 | €169,030 | -€33,110 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | €20,480 | €526,630 | +€506,150 | +2471.5% |
| Income taxes | 67/77 | €53,355 | €132,083 | +€78,728 | +147.6% |
| Profit (loss) for the period | 9904 | -€32,875 | €394,547 | +€427,422 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,875 | €394,547 | +€427,422 |
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 7 October 2026 via checked.be.