IMMO - DELBO: 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 - DELBO
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€15,573
2024 · €16,808-€1,234
Equity
€936,594
2024 · €921,021+€15,573
Cash
€25,770
2024 · €51,732-€25,962
Balance sheet total
€2.7m
2024 · €2.8m-€133,752
Largest movements
Assets
- Tangible fixed assets -€96,100
down €96,100 (-4.0%), from €2.4m to €2.3m
Equity and liabilities
- Debts after one year -€118,842
down €118,842 (-16.9%), from €701,263 to €582,421
- Other debts -€51,639
down €51,639 (-5.3%), from €980,557 to €928,917
Income statement
- Other operating charges +€15,615
up €15,615 (+160%), from €9,746 to €25,360
- Gross operating margin +€6,716
up €6,716 (+3.4%), from €195,487 to €202,203
- Financial charges -€6,107
down €6,107 (-12.1%), from €50,662 to €44,555
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
€16,808
Gross operating margin
+€6,716
Depreciation
+€864
Other operating charges
-€15,615
Financial charges
+€6,107
Taxes
+€694
Result 2025
€15,573
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
+€104,461
Investment
-€12,263
Financing
-€118,160
Cash 2024
€51,732
From operations (derived)
+€104,461
Net result for the year
+€15,573
Depreciation
+€108,363
Receivables within one year
+€12,358
Deferred charges and accrued income
-€667
Trade debts
+€9,213
Tax, wage and social debts
+€11,261
Other debts
-€51,639
Investment (derived)
-€12,263
Investment in fixed assets (net)
-€12,263
Financing
-€118,160
Debts after one year
-€118,842
Current portion of long-term debt
+€683
Cash 2025
€25,770
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,809,271 | €2,675,518 | -€133,752 | -4.8% |
| Fixed assets | 21/28 | €2,421,423 | €2,325,323 | -€96,100 | -4.0% |
| Tangible fixed assets | 22/27 | €2,421,423 | €2,325,323 | -€96,100 | -4.0% |
| Land and buildings | 22 | €2,421,423 | €2,325,323 | -€96,100 | -4.0% |
| Current assets | 29/58 | €387,847 | €350,195 | -€37,653 | -9.7% |
| Amounts receivable within one year | 40/41 | €34,886 | €22,528 | -€12,358 | -35.4% |
| Trade receivables | 40 | €3,286 | €421 | -€2,865 | -87.2% |
| Other amounts receivable | 41 | €31,600 | €22,108 | -€9,493 | -30.0% |
| Current investments | 50/53 | €294,972 | €294,972 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €51,732 | €25,770 | -€25,962 | -50.2% |
| Deferred charges and accrued income | 490/1 | €6,257 | €6,924 | +€667 | +10.7% |
| Total equity and liabilities | 10/49 | €2,809,271 | €2,675,518 | -€133,752 | -4.8% |
| Equity | 10/15 | €921,021 | €936,594 | +€15,573 | +1.7% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €600,285 | €615,285 | +€15,000 | +2.5% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €594,087 | €609,087 | +€15,000 | +2.5% |
| Profit (loss) carried forward | 14 | €258,763 | €259,336 | +€573 | +0.2% |
| Amounts payable | 17/49 | €1,888,250 | €1,738,924 | -€149,326 | -7.9% |
| Amounts payable after more than one year | 17 | €701,263 | €582,421 | -€118,842 | -16.9% |
| Financial debts | 170/4 | €701,263 | €582,421 | -€118,842 | -16.9% |
| Amounts payable within one year | 42/48 | €1,186,987 | €1,156,503 | -€30,484 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €118,160 | €118,842 | +€683 | +0.6% |
| Financial debts | 43 | €30,000 | €30,000 | = | 0.0% |
| Credit institutions | 430/8 | - | €30,000 | +€30,000 | |
| Other loans | 439 | €30,000 | - | -€30,000 | |
| Trade debts | 44 | €9,645 | €18,858 | +€9,213 | +95.5% |
| Suppliers | 440/4 | €9,645 | €18,858 | +€9,213 | +95.5% |
| Taxes, remuneration and social security | 45 | €48,625 | €59,885 | +€11,261 | +23.2% |
| Taxes | 450/3 | €43,825 | €49,885 | +€6,061 | +13.8% |
| Remuneration and social security | 454/9 | €4,800 | €10,000 | +€5,200 | +108% |
| Other amounts payable | 47/48 | €980,557 | €928,917 | -€51,639 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,227 | €108,363 | -€864 | -0.8% |
| Other operating charges | 640/8 | €9,746 | €25,360 | +€15,615 | +160% |
| Gross operating margin | 9900 | €195,487 | €202,203 | +€6,716 | +3.4% |
| Operating profit (loss) | 9901 | €76,515 | €68,480 | -€8,035 | -10.5% |
| Financial charges | 65/66B | €50,662 | €44,555 | -€6,107 | -12.1% |
| Recurring financial charges | 65 | €50,662 | €44,555 | -€6,107 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €25,853 | €23,924 | -€1,928 | -7.5% |
| Income taxes | 67/77 | €9,045 | €8,351 | -€694 | -7.7% |
| Profit (loss) for the period | 9904 | €16,808 | €15,573 | -€1,234 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,808 | €15,573 | -€1,234 | -7.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.