IMMO DE BAETS: 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 DE BAETS
Largest movements
- Tangible fixed assets -€169,970
down €169,970 (-4.9%), from €3.5m to €3.3m
of which Land and buildings: -€151,123
- Debts after one year -€313,847
down €313,847 (-11.6%), from €2.7m to €2.4m
- Reserves +€123,322
up €123,322 (+56.1%), from €219,736 to €343,058
- Tax, wage and social debts +€40,726
up €40,726 (+43.0%), from €94,605 to €135,332
- Gross operating margin +€42,808
up €42,808 (+10.6%), from €404,256 to €447,064
- Financial charges -€41,496
down €41,496 (-34.2%), from €121,493 to €79,996
- Taxes +€22,795
up €22,795 (+103%), from €22,097 to €44,892
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 | €3,525,675 | €3,398,793 | -€126,882 | -3.6% |
| Fixed assets | 21/28 | €3,504,407 | €3,334,437 | -€169,970 | -4.9% |
| Tangible fixed assets | 22/27 | €3,504,385 | €3,334,415 | -€169,970 | -4.9% |
| Land and buildings | 22 | €3,362,569 | €3,211,446 | -€151,123 | -4.5% |
| Plant, machinery and equipment | 23 | €141,817 | €122,969 | -€18,847 | -13.3% |
| Financial fixed assets | 28 | €22 | €22 | = | 0.0% |
| Current assets | 29/58 | €21,268 | €64,356 | +€43,088 | +203% |
| Amounts receivable within one year | 40/41 | €0 | €27,917 | +€27,917 | |
| Trade receivables | 40 | €0 | €27,917 | +€27,917 | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €21,268 | €36,439 | +€15,171 | +71.3% |
| Total equity and liabilities | 10/49 | €3,525,675 | €3,398,793 | -€126,882 | -3.6% |
| Equity | 10/15 | €225,936 | €349,258 | +€123,322 | +54.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €219,736 | €343,058 | +€123,322 | +56.1% |
| Distributable reserves | 133 | €219,736 | €343,058 | +€123,322 | +56.1% |
| Amounts payable | 17/49 | €3,299,739 | €3,049,536 | -€250,203 | -7.6% |
| Amounts payable after more than one year | 17 | €2,694,009 | €2,380,161 | -€313,847 | -11.6% |
| Financial debts | 170/4 | €2,694,009 | €2,380,161 | -€313,847 | -11.6% |
| Amounts payable within one year | 42/48 | €583,756 | €658,633 | +€74,877 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €296,616 | €292,216 | -€4,400 | -1.5% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €169 | €28,517 | +€28,348 | +16,734% |
| Suppliers | 440/4 | €169 | €28,517 | +€28,348 | +16,734% |
| Taxes, remuneration and social security | 45 | €94,605 | €135,332 | +€40,726 | +43.0% |
| Taxes | 450/3 | €94,605 | €135,332 | +€40,726 | +43.0% |
| Other amounts payable | 47/48 | €42,365 | €52,567 | +€10,203 | +24.1% |
| Accrued charges and deferred income | 492/3 | €21,975 | €10,742 | -€11,233 | -51.1% |
| Non-recurring operating income | 76A | - | €24,181 | +€24,181 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173,646 | €169,970 | -€3,677 | -2.1% |
| Other operating charges | 640/8 | €28,028 | €28,884 | +€856 | +3.1% |
| Gross operating margin | 9900 | €404,256 | €447,064 | +€42,808 | +10.6% |
| Operating profit (loss) | 9901 | €202,581 | €248,210 | +€45,629 | +22.5% |
| Financial charges | 65/66B | €121,493 | €79,996 | -€41,496 | -34.2% |
| Recurring financial charges | 65 | €121,493 | €79,996 | -€41,496 | -34.2% |
| Profit (loss) for the period before taxes | 9903 | €81,089 | €168,214 | +€87,125 | +107% |
| Income taxes | 67/77 | €22,097 | €44,892 | +€22,795 | +103% |
| Profit (loss) for the period | 9904 | €58,992 | €123,322 | +€64,330 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €58,992 | €123,322 | +€64,330 | +109% |
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 23 October 2026 via checked.be.