IMMO D41: 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 D41
Largest movements
- Cash +€28,766
up €28,766 (+368.6%), from €7,803 to €36,569
mainly Other debts (+€64,000) and Depreciation (+€15,578)
- Tangible fixed assets -€15,578
down €15,578 (-4.9%), from €321,181 to €305,603
of which Land and buildings: -€14,029
- Other debts +€64,000
up €64,000 (+447.4%), from €14,305 to €78,305
- Debts after one year -€59,245
down €59,245 (-29.9%), from €197,847 to €138,602
- Reserves +€14,444
up €14,444 (+23.5%), from €61,407 to €75,851
of which Distributable reserves: +€14,444
- Current portion of long-term debt -€12,837
down €12,837 (-54.2%), from €23,696 to €10,860
- Tax, wage and social debts +€6,922
up €6,922 (+2261.7%), from €306 to €7,228
- Gross operating margin +€7,125
up €7,125 (+20.3%), from €35,083 to €42,207
- Taxes +€4,376
up €4,376 (+153.4%), from €2,853 to €7,228
- Financial charges -€3,036
down €3,036 (-50.7%), from €5,990 to €2,954
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 | €329,735 | €342,171 | +€12,437 | +3.8% |
| Fixed assets | 21/28 | €321,181 | €305,603 | -€15,578 | -4.9% |
| Tangible fixed assets | 22/27 | €321,181 | €305,603 | -€15,578 | -4.9% |
| Land and buildings | 22 | €318,152 | €304,123 | -€14,029 | -4.4% |
| Plant, machinery and equipment | 23 | €630 | €210 | -€420 | -66.7% |
| Other tangible fixed assets | 26 | €2,398 | €1,270 | -€1,129 | -47.1% |
| Current assets | 29/58 | €8,554 | €36,569 | +€28,015 | +327.5% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €7,803 | €36,569 | +€28,766 | +368.6% |
| Deferred charges and accrued income | 490/1 | €751 | €0 | -€751 | -100.0% |
| Total equity and liabilities | 10/49 | €329,735 | €342,171 | +€12,437 | +3.8% |
| Equity | 10/15 | €92,469 | €106,914 | +€14,444 | +15.6% |
| Contributions | 10/11 | €11,200 | €11,200 | = | 0.0% |
| Reserves | 13 | €61,407 | €75,851 | +€14,444 | +23.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €61,407 | €75,851 | +€14,444 | +23.5% |
| Profit (loss) carried forward | 14 | €19,862 | €19,862 | = | 0.0% |
| Amounts payable | 17/49 | €237,265 | €235,258 | -€2,008 | -0.8% |
| Amounts payable after more than one year | 17 | €197,847 | €138,602 | -€59,245 | -29.9% |
| Financial debts | 170/4 | €197,847 | €138,602 | -€59,245 | -29.9% |
| Amounts payable within one year | 42/48 | €38,570 | €96,656 | +€58,086 | +150.6% |
| Current portion of amounts payable after more than one year | 42 | €23,696 | €10,860 | -€12,837 | -54.2% |
| Trade debts | 44 | €263 | €263 | = | 0.0% |
| Suppliers | 440/4 | €263 | €263 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €306 | €7,228 | +€6,922 | +2261.7% |
| Taxes | 450/3 | €306 | €7,228 | +€6,922 | +2261.7% |
| Other amounts payable | 47/48 | €14,305 | €78,305 | +€64,000 | +447.4% |
| Accrued charges and deferred income | 492/3 | €848 | €0 | -€848 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,578 | €15,578 | = | 0.0% |
| Other operating charges | 640/8 | €2,290 | €2,003 | -€287 | -12.5% |
| Gross operating margin | 9900 | €35,083 | €42,207 | +€7,125 | +20.3% |
| Operating profit (loss) | 9901 | €17,215 | €24,627 | +€7,412 | +43.1% |
| Financial charges | 65/66B | €5,990 | €2,954 | -€3,036 | -50.7% |
| Recurring financial charges | 65 | €5,990 | €2,954 | -€3,036 | -50.7% |
| Profit (loss) for the period before taxes | 9903 | €11,224 | €21,673 | +€10,448 | +93.1% |
| Income taxes | 67/77 | €2,853 | €7,228 | +€4,376 | +153.4% |
| Profit (loss) for the period | 9904 | €8,372 | €14,444 | +€6,073 | +72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,372 | €14,444 | +€6,073 | +72.5% |
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.