IMMO D4: 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 D4
Largest movements
- Tangible fixed assets -€26,795
down €26,795 (-6.5%), from €412,461 to €385,666
- Cash +€16,026
up €16,026 (+1824.2%), from €879 to €16,904
mainly Depreciation (+€26,795) and Net result for the year (+€10,738)
- Debts after one year -€16,296
down €16,296 (-6.8%), from €241,082 to €224,786
of which Financial debts: -€17,796
- Profit (loss) carried forward +€10,738
up €10,738 (+24.1%), from -€44,538 to -€33,800
- Current portion of long-term debt -€4,571
down €4,571 (-14.7%), from €31,197 to €26,626
- Gross operating margin -€228,721
down €228,721 (-84.8%), from €269,715 to €40,994
- Financial charges -€168,566
down €168,566 (-98.2%), from €171,626 to €3,060
of which Non-recurring financial charges: -€164,457
- Other operating charges -€14,403
down €14,403 (-97.3%), from €14,803 to €400
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 | €413,520 | €402,570 | -€10,950 | -2.6% |
| Fixed assets | 21/28 | €412,461 | €385,666 | -€26,795 | -6.5% |
| Tangible fixed assets | 22/27 | €412,461 | €385,666 | -€26,795 | -6.5% |
| Land and buildings | 22 | €412,461 | €385,666 | -€26,795 | -6.5% |
| Current assets | 29/58 | €1,059 | €16,904 | +€15,845 | +1496.2% |
| Cash at bank and in hand | 54/58 | €879 | €16,904 | +€16,026 | +1824.2% |
| Deferred charges and accrued income | 490/1 | €181 | - | -€181 | |
| Total equity and liabilities | 10/49 | €413,520 | €402,570 | -€10,950 | -2.6% |
| Equity | 10/15 | -€38,338 | -€27,600 | +€10,738 | +28.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,538 | -€33,800 | +€10,738 | +24.1% |
| Amounts payable | 17/49 | €451,858 | €430,169 | -€21,689 | -4.8% |
| Amounts payable after more than one year | 17 | €241,082 | €224,786 | -€16,296 | -6.8% |
| Financial debts | 170/4 | €241,082 | €223,286 | -€17,796 | -7.4% |
| Other amounts payable | 178/9 | - | €1,500 | +€1,500 | |
| Amounts payable within one year | 42/48 | €208,598 | €205,383 | -€3,215 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €31,197 | €26,626 | -€4,571 | -14.7% |
| Trade debts | 44 | €448 | - | -€448 | |
| Suppliers | 440/4 | €448 | - | -€448 | |
| Other amounts payable | 47/48 | €176,953 | €178,757 | +€1,804 | +1.0% |
| Accrued charges and deferred income | 492/3 | €2,178 | - | -€2,178 | |
| Non-recurring operating income | 76A | €292,500 | - | -€292,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,183 | €26,795 | +€1,612 | +6.4% |
| Other operating charges | 640/8 | €14,803 | €400 | -€14,403 | -97.3% |
| Gross operating margin | 9900 | €269,715 | €40,994 | -€228,721 | -84.8% |
| Operating profit (loss) | 9901 | €229,729 | €13,799 | -€215,930 | -94.0% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €171,626 | €3,060 | -€168,566 | -98.2% |
| Recurring financial charges | 65 | €7,169 | €3,060 | -€4,109 | -57.3% |
| Non-recurring financial charges | 66B | €164,457 | - | -€164,457 | |
| Profit (loss) for the period before taxes | 9903 | €58,103 | €10,738 | -€47,365 | -81.5% |
| Income taxes | 67/77 | €492 | - | -€492 | |
| Profit (loss) for the period | 9904 | €57,611 | €10,738 | -€46,872 | -81.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,611 | €10,738 | -€46,872 | -81.4% |
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 30 September 2026 via checked.be.