Immo De Ras: 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 Ras
Largest movements
- Cash +€412,134
up €412,134 (+19.0%), from €2.2m to €2.6m
mainly Net result for the year (+€647,145) and Other debts (+€445,000)
- Deferred charges and accrued income +€38,364
up €38,364 (+221%), from €17,339 to €55,703
- Other debts +€445,000
up €445,000 (+220%), from €202,318 to €647,318
- Trade debts +€383,283
up €383,283 (+67.0%), from €571,711 to €954,994
- Advances received -€310,104
down €310,104 (-16.1%), from €1.9m to €1.6m
- Tax, wage and social debts -€100,486
down €100,486 (-46.1%), from €217,955 to €117,469
of which Taxes: -€105,491
- Gross operating margin +€486,475
up €486,475 (+57.0%), from €853,824 to €1.3m
- Staff costs +€92,457
up €92,457 (+19.8%), from €465,957 to €558,413
- Write-downs -€27,379
down €27,379, from €21,508 to -€5,871
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 | €3,072,799 | €3,490,169 | +€417,370 | +13.6% |
| Fixed assets | 21/28 | €103,281 | €66,422 | -€36,859 | -35.7% |
| Intangible fixed assets | 21 | €11,647 | €3,465 | -€8,182 | -70.3% |
| Tangible fixed assets | 22/27 | €91,409 | €62,732 | -€28,677 | -31.4% |
| Furniture and vehicles | 24 | €38,698 | €17,188 | -€21,509 | -55.6% |
| Other tangible fixed assets | 26 | €52,711 | €45,543 | -€7,168 | -13.6% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €2,969,518 | €3,423,747 | +€454,230 | +15.3% |
| Amounts receivable within one year | 40/41 | €783,081 | €786,813 | +€3,731 | +0.5% |
| Trade receivables | 40 | €476,066 | €463,523 | -€12,543 | -2.6% |
| Other amounts receivable | 41 | €307,015 | €323,290 | +€16,275 | +5.3% |
| Cash at bank and in hand | 54/58 | €2,169,097 | €2,581,231 | +€412,134 | +19.0% |
| Deferred charges and accrued income | 490/1 | €17,339 | €55,703 | +€38,364 | +221% |
| Total equity and liabilities | 10/49 | €3,072,799 | €3,490,169 | +€417,370 | +13.6% |
| Equity | 10/15 | €156,023 | €158,168 | +€2,145 | +1.4% |
| Contributions | 10/11 | €1,231 | €1,231 | = | 0.0% |
| Reserves | 13 | €115,560 | €115,560 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,893 | €10,893 | = | 0.0% |
| Distributable reserves | 133 | €104,667 | €104,667 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,233 | €41,378 | +€2,145 | +5.5% |
| Amounts payable | 17/49 | €2,916,776 | €3,332,001 | +€415,225 | +14.2% |
| Amounts payable within one year | 42/48 | €2,916,776 | €3,332,001 | +€415,225 | +14.2% |
| Financial debts | 43 | €3,520 | €1,052 | -€2,467 | -70.1% |
| Credit institutions | 430/8 | €3,520 | €1,052 | -€2,467 | -70.1% |
| Trade debts | 44 | €571,711 | €954,994 | +€383,283 | +67.0% |
| Suppliers | 440/4 | €571,711 | €954,994 | +€383,283 | +67.0% |
| Advances received on contracts in progress | 46 | €1,921,271 | €1,611,167 | -€310,104 | -16.1% |
| Taxes, remuneration and social security | 45 | €217,955 | €117,469 | -€100,486 | -46.1% |
| Taxes | 450/3 | €155,734 | €50,244 | -€105,491 | -67.7% |
| Remuneration and social security | 454/9 | €62,221 | €67,225 | +€5,004 | +8.0% |
| Other amounts payable | 47/48 | €202,318 | €647,318 | +€445,000 | +220% |
| Remuneration, social security and pensions | 62 | €465,957 | €558,413 | +€92,457 | +19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,892 | €39,892 | -€9,000 | -18.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,508 | -€5,871 | -€27,379 | |
| Other operating charges | 640/8 | €6,372 | €8,965 | +€2,593 | +40.7% |
| Gross operating margin | 9900 | €853,824 | €1,340,300 | +€486,475 | +57.0% |
| Operating profit (loss) | 9901 | €311,096 | €738,901 | +€427,805 | +138% |
| Financial income | 75/76B | - | €25 | +€25 | |
| Recurring financial income | 75 | - | €25 | +€25 | |
| Financial charges | 65/66B | €4,827 | €3,862 | -€964 | -20.0% |
| Recurring financial charges | 65 | €4,827 | €3,862 | -€964 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €306,269 | €735,063 | +€428,794 | +140% |
| Income taxes | 67/77 | €86,973 | €87,918 | +€945 | +1.1% |
| Profit (loss) for the period | 9904 | €219,296 | €647,145 | +€427,850 | +195% |
| Profit (loss) for the period to be appropriated | 9905 | €219,296 | €647,145 | +€427,850 | +195% |
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 16 October 2026 via checked.be.