IMMO DE LINDE: 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.
What changed
IMMO DE LINDE
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€43,448
2024 · -€15,347-€28,101
Equity
€2.5m
2024 · €2.5m-€52,984
Cash
€4,171
2024 · €5,713-€1,542
Balance sheet total
€3.7m
2024 · €3.7m-€62,834
Largest movements
Assets
- Tangible fixed assets -€63,862
down €63,862 (-2.9%), from €2.2m to €2.2m
Equity and liabilities
- Short-term financial debts +€100,000
new in 2025: €100,000
- Debts after one year -€78,787
down €78,787 (-13.9%), from €567,180 to €488,393
- Reserves -€43,448
down €43,448 (-2.1%), from €2.1m to €2.0m
of which Tax-exempt reserves: -€55,222
Income statement
- Gross operating margin -€21,487
down €21,487 (-19.5%), from €110,300 to €88,812
- Other operating charges +€15,854
up €15,854 (+102.4%), from €15,485 to €31,339
- Taxes -€8,918
down €8,918 (-65.6%), from €13,595 to €4,677
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.
Result 2024
-€15,347
Gross operating margin
-€21,487
Depreciation
-€280
Other operating charges
-€15,854
Financial charges
+€601
Taxes
+€8,918
Result 2025
-€43,448
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.
From operations
+€19,626
Investment
-€35,557
Financing
+€14,389
Cash 2024
€5,713
From operations (derived)
+€19,626
Net result for the year
-€43,448
Depreciation
+€105,821
Receivables within one year
-€8,874
Deferred charges and accrued income
-€97
Provisions
-€26,530
Trade debts
-€1,368
Tax, wage and social debts
-€9,646
Accrued charges and deferred income
+€3,770
Investment (derived)
-€35,557
Investment in fixed assets (net)
-€35,557
Financing
+€14,389
Debts after one year
-€78,787
Current portion of long-term debt
+€2,711
Short-term financial debts
+€100,000
Contributions, distributions and other
-€9,536
Cash 2025
€4,171
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,726,302 | €3,663,468 | -€62,834 | -1.7% |
| Fixed assets | 21/28 | €2,996,323 | €2,926,060 | -€70,263 | -2.3% |
| Tangible fixed assets | 22/27 | €2,219,422 | €2,155,560 | -€63,862 | -2.9% |
| Land and buildings | 22 | €2,219,422 | €2,155,560 | -€63,862 | -2.9% |
| Financial fixed assets | 28 | €776,901 | €770,500 | -€6,401 | -0.8% |
| Current assets | 29/58 | €729,979 | €737,408 | +€7,429 | +1.0% |
| Amounts receivable within one year | 40/41 | €721,584 | €730,458 | +€8,874 | +1.2% |
| Trade receivables | 40 | €97 | - | -€97 | |
| Other amounts receivable | 41 | €721,488 | €730,458 | +€8,971 | +1.2% |
| Cash at bank and in hand | 54/58 | €5,713 | €4,171 | -€1,542 | -27.0% |
| Deferred charges and accrued income | 490/1 | €2,682 | €2,779 | +€97 | +3.6% |
| Total equity and liabilities | 10/49 | €3,726,302 | €3,663,468 | -€62,834 | -1.7% |
| Equity | 10/15 | €2,535,486 | €2,482,502 | -€52,984 | -2.1% |
| Contributions | 10/11 | €440,011 | €440,011 | = | 0.0% |
| Capital | 10 | €440,011 | €440,011 | = | 0.0% |
| Issued capital | 100 | €440,011 | €440,011 | = | 0.0% |
| Revaluation surpluses | 12 | €18,235 | €8,699 | -€9,536 | -52.3% |
| Reserves | 13 | €2,077,240 | €2,033,792 | -€43,448 | -2.1% |
| Non-distributable reserves | 130/1 | €44,001 | €44,001 | = | 0.0% |
| Legal reserve | 130 | €44,001 | €44,001 | = | 0.0% |
| Tax-exempt reserves | 132 | €991,587 | €936,364 | -€55,222 | -5.6% |
| Distributable reserves | 133 | €1,041,653 | €1,053,427 | +€11,774 | +1.1% |
| Provisions and deferred taxes | 16 | €519,112 | €492,582 | -€26,530 | -5.1% |
| Deferred taxes | 168 | €519,112 | €492,582 | -€26,530 | -5.1% |
| Amounts payable | 17/49 | €671,704 | €688,384 | +€16,680 | +2.5% |
| Amounts payable after more than one year | 17 | €567,180 | €488,393 | -€78,787 | -13.9% |
| Financial debts | 170/4 | €567,180 | €488,393 | -€78,787 | -13.9% |
| Amounts payable within one year | 42/48 | €104,524 | €196,221 | +€91,697 | +87.7% |
| Current portion of amounts payable after more than one year | 42 | €76,075 | €78,787 | +€2,711 | +3.6% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €17,496 | €16,128 | -€1,368 | -7.8% |
| Suppliers | 440/4 | €17,496 | €16,128 | -€1,368 | -7.8% |
| Advances received on contracts in progress | 46 | €1,306 | €1,306 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €9,646 | - | -€9,646 | |
| Taxes | 450/3 | €9,646 | - | -€9,646 | |
| Accrued charges and deferred income | 492/3 | - | €3,770 | +€3,770 | |
| Non-recurring operating income | 76A | €28,000 | - | -€28,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,541 | €105,821 | +€280 | +0.3% |
| Other operating charges | 640/8 | €15,485 | €31,339 | +€15,854 | +102.4% |
| Gross operating margin | 9900 | €110,300 | €88,812 | -€21,487 | -19.5% |
| Operating profit (loss) | 9901 | -€10,726 | -€48,347 | -€37,621 | -350.7% |
| Financial charges | 65/66B | €17,556 | €16,954 | -€601 | -3.4% |
| Recurring financial charges | 65 | €17,556 | €16,954 | -€601 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€28,282 | -€65,301 | -€37,019 | -130.9% |
| Transfer from deferred taxes | 780 | €26,530 | €26,530 | = | 0.0% |
| Income taxes | 67/77 | €13,595 | €4,677 | -€8,918 | -65.6% |
| Profit (loss) for the period | 9904 | -€15,347 | -€43,448 | -€28,101 | -183.1% |
| Transfer from tax-exempt reserves | 789 | €55,222 | €55,222 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,876 | €11,774 | -€28,101 | -70.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.