Immo De Specht: 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 Specht
Largest movements
- Tangible fixed assets -€14,179
down €14,179 (-3.7%), from €384,130 to €369,951
- Deferred charges and accrued income +€8,930
up €8,930 (+123%), from €7,255 to €16,185
- Debts after one year -€40,135
down €40,135 (-13.8%), from €290,825 to €250,690
- Reserves +€26,484
up €26,484 (+32.0%), from €82,695 to €109,179
- Tax, wage and social debts +€4,954
up €4,954 (+178%), from €2,787 to €7,742
- Gross operating margin +€2,850
up €2,850 (+5.0%), from €56,503 to €59,353
- Taxes +€954
up €954 (+8.1%), from €11,787 to €12,742
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 | €406,481 | €400,742 | -€5,739 | -1.4% |
| Fixed assets | 21/28 | €384,130 | €369,951 | -€14,179 | -3.7% |
| Tangible fixed assets | 22/27 | €384,130 | €369,951 | -€14,179 | -3.7% |
| Land and buildings | 22 | €384,130 | €369,951 | -€14,179 | -3.7% |
| Current assets | 29/58 | €22,352 | €30,791 | +€8,440 | +37.8% |
| Cash at bank and in hand | 54/58 | €15,097 | €14,606 | -€491 | -3.3% |
| Deferred charges and accrued income | 490/1 | €7,255 | €16,185 | +€8,930 | +123% |
| Total equity and liabilities | 10/49 | €406,481 | €400,742 | -€5,739 | -1.4% |
| Equity | 10/15 | €87,695 | €114,179 | +€26,484 | +30.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €82,695 | €109,179 | +€26,484 | +32.0% |
| Distributable reserves | 133 | €82,695 | €109,179 | +€26,484 | +32.0% |
| Amounts payable | 17/49 | €318,786 | €286,564 | -€32,223 | -10.1% |
| Amounts payable after more than one year | 17 | €290,825 | €250,690 | -€40,135 | -13.8% |
| Financial debts | 170/4 | €290,825 | €250,690 | -€40,135 | -13.8% |
| Amounts payable within one year | 42/48 | €27,961 | €35,874 | +€7,912 | +28.3% |
| Current portion of amounts payable after more than one year | 42 | €19,882 | €20,135 | +€253 | +1.3% |
| Trade debts | 44 | €1,591 | €3,604 | +€2,013 | +126% |
| Suppliers | 440/4 | €1,591 | €3,604 | +€2,013 | +126% |
| Taxes, remuneration and social security | 45 | €2,787 | €7,742 | +€4,954 | +178% |
| Taxes | 450/3 | €2,787 | €7,742 | +€4,954 | +178% |
| Other amounts payable | 47/48 | €3,701 | €4,393 | +€692 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,179 | €14,179 | = | 0.0% |
| Other operating charges | 640/8 | €4,252 | €4,385 | +€134 | +3.1% |
| Gross operating margin | 9900 | €56,503 | €59,353 | +€2,850 | +5.0% |
| Operating profit (loss) | 9901 | €38,072 | €40,789 | +€2,717 | +7.1% |
| Financial charges | 65/66B | €1,814 | €1,563 | -€251 | -13.8% |
| Recurring financial charges | 65 | €1,814 | €1,563 | -€251 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €36,258 | €39,225 | +€2,967 | +8.2% |
| Income taxes | 67/77 | €11,787 | €12,742 | +€954 | +8.1% |
| Profit (loss) for the period | 9904 | €24,471 | €26,484 | +€2,013 | +8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,471 | €26,484 | +€2,013 | +8.2% |
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 15 October 2026 via checked.be.