IMMO DE REZE: 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.
What changed
IMMO DE REZE
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€14,686
2024 · €30,648-€15,962
Equity
€285,617
2024 · €270,931+€14,686
Cash
€154,268
2024 · €40,353+€113,915
Balance sheet total
€15.7m
2024 · €10.2m+€5.5m
Largest movements
Assets
- Tangible fixed assets +€15.5m
new in 2025: €15.5m
- Stocks and contracts -€10.1m
no longer reported in 2025 (was €10.1m)
Equity and liabilities
- Short-term financial debts +€6.2m
up €6.2m (+80.4%), from €7.7m to €14.0m
- Trade debts -€780,478
down €780,478 (-85.4%), from €914,375 to €133,897
Income statement
- Gross operating margin +€691,255
up €691,255 (+2,077%), from €33,288 to €724,543
- Depreciation +€309,008
new in 2025: €309,008
- Financial charges +€204,420
up €204,420 (+12,752%), from €1,603 to €206,023
- Other operating charges +€189,456
up €189,456 (+18,271%), from €1,037 to €190,493
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
€30,648
Gross operating margin
+€691,255
Depreciation
-€309,008
Other operating charges
-€189,456
Financial income
+€40
Financial charges
-€204,420
Taxes
-€4,373
Result 2025
€14,686
raises the resultlowers the result
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.
From operations
+€9.7m
Investment
-€15.9m
Financing
+€6.2m
Cash 2024
€40,353
From operations (derived)
+€9.7m
Net result for the year
+€14,686
Depreciation
+€309,008
Stocks and contracts
+€10.1m
Receivables within one year
+€50,369
Smaller working-capital items
+€11,987
Trade debts
-€780,478
Accrued charges and deferred income
+€46,429
Investment (derived)
-€15.9m
Investment in fixed assets (net)
-€15.9m
Financing
+€6.2m
Short-term financial debts
+€6.2m
Cash 2025
€154,268
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,186,237 | €15,720,114 | +€5.5m | +54.3% |
| Fixed assets | 21/28 | - | €15,549,093 | +€15.5m | |
| Tangible fixed assets | 22/27 | - | €15,549,093 | +€15.5m | |
| Land and buildings | 22 | - | €15,549,093 | +€15.5m | |
| Current assets | 29/58 | €10,186,237 | €171,022 | -€10.0m | -98.3% |
| Stocks and contracts in progress | 3 | €10,095,514 | - | -€10.1m | |
| Stocks | 30/36 | €10,095,514 | - | -€10.1m | |
| Amounts receivable within one year | 40/41 | €50,369 | - | -€50,369 | |
| Trade receivables | 40 | €42,737 | - | -€42,737 | |
| Other amounts receivable | 41 | €7,633 | - | -€7,633 | |
| Cash at bank and in hand | 54/58 | €40,353 | €154,268 | +€113,915 | +282% |
| Deferred charges and accrued income | 490/1 | - | €16,753 | +€16,753 | |
| Total equity and liabilities | 10/49 | €10,186,237 | €15,720,114 | +€5.5m | +54.3% |
| Equity | 10/15 | €270,931 | €285,617 | +€14,686 | +5.4% |
| Contributions | 10/11 | €141,000 | €141,000 | = | 0.0% |
| Capital | 10 | €141,000 | €141,000 | = | 0.0% |
| Issued capital | 100 | €141,000 | €141,000 | = | 0.0% |
| Reserves | 13 | €23,322 | €23,322 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,100 | €14,100 | = | 0.0% |
| Legal reserve | 130 | €14,100 | €14,100 | = | 0.0% |
| Distributable reserves | 133 | €9,222 | €9,222 | = | 0.0% |
| Profit (loss) carried forward | 14 | €106,609 | €121,295 | +€14,686 | +13.8% |
| Amounts payable | 17/49 | €9,915,305 | €15,434,498 | +€5.5m | +55.7% |
| Amounts payable within one year | 42/48 | €9,915,305 | €15,388,068 | +€5.5m | +55.2% |
| Financial debts | 43 | €7,745,500 | €13,970,000 | +€6.2m | +80.4% |
| Credit institutions | 430/8 | €7,745,500 | €13,970,000 | +€6.2m | +80.4% |
| Trade debts | 44 | €914,375 | €133,897 | -€780,478 | -85.4% |
| Suppliers | 440/4 | €914,375 | €133,897 | -€780,478 | -85.4% |
| Advances received on contracts in progress | 46 | €47,698 | €58,117 | +€10,419 | +21.8% |
| Taxes, remuneration and social security | 45 | - | €18,322 | +€18,322 | |
| Taxes | 450/3 | - | €18,322 | +€18,322 | |
| Other amounts payable | 47/48 | €1,207,732 | €1,207,732 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €46,429 | +€46,429 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €309,008 | +€309,008 | |
| Other operating charges | 640/8 | €1,037 | €190,493 | +€189,456 | +18,271% |
| Gross operating margin | 9900 | €33,288 | €724,543 | +€691,255 | +2,077% |
| Operating profit (loss) | 9901 | €32,251 | €225,042 | +€192,791 | +598% |
| Financial income | 75/76B | - | €40 | +€40 | |
| Recurring financial income | 75 | - | €40 | +€40 | |
| Financial charges | 65/66B | €1,603 | €206,023 | +€204,420 | +12,752% |
| Recurring financial charges | 65 | €1,603 | €206,023 | +€204,420 | +12,752% |
| Profit (loss) for the period before taxes | 9903 | €30,648 | €19,059 | -€11,589 | -37.8% |
| Income taxes | 67/77 | - | €4,373 | +€4,373 | |
| Profit (loss) for the period | 9904 | €30,648 | €14,686 | -€15,962 | -52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,648 | €14,686 | -€15,962 | -52.1% |
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 29 October 2026 via checked.be.