IMMO DE LINK: 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 LINK
Largest movements
- Cash +€41,626
up €41,626 (+17.1%), from €243,696 to €285,322
mainly Net result for the year (+€69,560) and Depreciation (+€23,839)
- Tangible fixed assets -€23,839
down €23,839 (-12.0%), from €199,010 to €175,170
of which Furniture and vehicles: -€17,489
- Debts after one year -€23,671
down €23,671 (-18.2%), from €130,082 to €106,410
- Reserves +€21,992
up €21,992 (+5.8%), from €378,657 to €400,649
- Tax, wage and social debts +€19,698
new in 2025: €19,698
- Profit (loss) carried forward +€8,907
no longer reported in 2025 (was -€8,907)
- Current portion of long-term debt -€7,149
down €7,149 (-23.2%), from €30,820 to €23,671
- Gross operating margin +€116,921
up €116,921 (+2,419%), from €4,833 to €121,754
- Taxes +€22,820
up €22,820 (+6,830%), from €334 to €23,155
- Other operating charges -€1,697
down €1,697 (-42.9%), from €3,952 to €2,255
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 | €596,218 | €615,189 | +€18,971 | +3.2% |
| Fixed assets | 21/28 | €199,010 | €175,170 | -€23,839 | -12.0% |
| Tangible fixed assets | 22/27 | €199,010 | €175,170 | -€23,839 | -12.0% |
| Land and buildings | 22 | €172,437 | €166,086 | -€6,350 | -3.7% |
| Furniture and vehicles | 24 | €26,573 | €9,084 | -€17,489 | -65.8% |
| Current assets | 29/58 | €397,209 | €440,019 | +€42,810 | +10.8% |
| Amounts receivable within one year | 40/41 | €153,513 | €154,129 | +€617 | +0.4% |
| Trade receivables | 40 | €284 | €5,807 | +€5,523 | +1,945% |
| Other amounts receivable | 41 | €153,229 | €148,323 | -€4,906 | -3.2% |
| Cash at bank and in hand | 54/58 | €243,696 | €285,322 | +€41,626 | +17.1% |
| Deferred charges and accrued income | 490/1 | - | €568 | +€568 | |
| Total equity and liabilities | 10/49 | €596,218 | €615,189 | +€18,971 | +3.2% |
| Equity | 10/15 | €389,749 | €420,649 | +€30,900 | +7.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €378,657 | €400,649 | +€21,992 | +5.8% |
| Distributable reserves | 133 | €378,657 | €400,649 | +€21,992 | +5.8% |
| Profit (loss) carried forward | 14 | -€8,907 | - | +€8,907 | |
| Amounts payable | 17/49 | €206,469 | €194,540 | -€11,929 | -5.8% |
| Amounts payable after more than one year | 17 | €130,082 | €106,410 | -€23,671 | -18.2% |
| Financial debts | 170/4 | €130,082 | €106,410 | -€23,671 | -18.2% |
| Amounts payable within one year | 42/48 | €75,587 | €87,330 | +€11,742 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €30,820 | €23,671 | -€7,149 | -23.2% |
| Trade debts | 44 | €8,386 | €5,300 | -€3,086 | -36.8% |
| Suppliers | 440/4 | €8,386 | €5,300 | -€3,086 | -36.8% |
| Taxes, remuneration and social security | 45 | - | €19,698 | +€19,698 | |
| Taxes | 450/3 | - | €19,698 | +€19,698 | |
| Other amounts payable | 47/48 | €36,381 | €38,660 | +€2,279 | +6.3% |
| Accrued charges and deferred income | 492/3 | €800 | €800 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,839 | €23,839 | = | 0.0% |
| Other operating charges | 640/8 | €3,952 | €2,255 | -€1,697 | -42.9% |
| Gross operating margin | 9900 | €4,833 | €121,754 | +€116,921 | +2,419% |
| Operating profit (loss) | 9901 | -€22,958 | €95,660 | +€118,618 | |
| Financial income | 75/76B | - | €153 | +€153 | |
| Recurring financial income | 75 | - | €153 | +€153 | |
| Financial charges | 65/66B | €3,420 | €3,098 | -€322 | -9.4% |
| Recurring financial charges | 65 | €3,420 | €3,098 | -€322 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | -€26,378 | €92,715 | +€119,092 | |
| Income taxes | 67/77 | €334 | €23,155 | +€22,820 | +6,830% |
| Profit (loss) for the period | 9904 | -€26,712 | €69,560 | +€96,272 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,712 | €69,560 | +€96,272 |
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 21 October 2026 via checked.be.