IMMO DELPA: 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 DELPA
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€34,845
2024 · €43,876-€9,031
Equity
€394,522
2024 · €359,677+€34,845
Cash
€14,324
2024 · €1,018+€13,306
Balance sheet total
€1.6m
2024 · €1.6m+€11,264
Largest movements
Assets
- Tangible fixed assets -€37,342
down €37,342 (-3.7%), from €999,199 to €961,857
- Receivables within one year +€35,271
up €35,271 (+20.2%), from €174,481 to €209,752
of which Other amounts receivable: +€37,058
Equity and liabilities
- Debts after one year -€64,035
down €64,035 (-6.0%), from €1.1m to €998,657
of which Financial debts: -€64,035
- Profit (loss) carried forward +€39,025
up €39,025 (+54.7%), from €71,342 to €110,367
- Current portion of long-term debt +€16,738
up €16,738 (+28.9%), from €57,837 to €74,575
Income statement
- Gross operating margin -€5,330
down €5,330 (-4.0%), from €132,434 to €127,104
- Financial charges +€2,805
up €2,805 (+13.3%), from €21,092 to €23,897
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
€43,876
Gross operating margin
-€5,330
Other operating charges
-€839
Financial income
+€0
Financial charges
-€2,805
Taxes
-€57
Result 2025
€34,845
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
+€60,603
Investment
€0
Financing
-€47,297
Cash 2024
€1,018
From operations (derived)
+€60,603
Net result for the year
+€34,845
Depreciation
+€37,342
Receivables within one year
-€35,271
Deferred charges and accrued income
-€29
Provisions
-€1,791
Trade debts
+€8,139
Tax, wage and social debts
+€13,823
Other debts
+€3,544
Financing
-€47,297
Debts after one year
-€64,035
Current portion of long-term debt
+€16,738
Cash 2025
€14,324
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,625,467 | €1,636,731 | +€11,264 | +0.7% |
| Fixed assets | 21/28 | €1,174,199 | €1,136,857 | -€37,342 | -3.2% |
| Tangible fixed assets | 22/27 | €999,199 | €961,857 | -€37,342 | -3.7% |
| Land and buildings | 22 | €999,199 | €961,857 | -€37,342 | -3.7% |
| Financial fixed assets | 28 | €175,000 | €175,000 | = | 0.0% |
| Current assets | 29/58 | €451,268 | €499,874 | +€48,606 | +10.8% |
| Amounts receivable after more than one year | 29 | €275,000 | €275,000 | = | 0.0% |
| Trade receivables | 290 | €275,000 | €275,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €174,481 | €209,752 | +€35,271 | +20.2% |
| Trade receivables | 40 | €96,866 | €95,079 | -€1,787 | -1.8% |
| Other amounts receivable | 41 | €77,615 | €114,673 | +€37,058 | +47.7% |
| Cash at bank and in hand | 54/58 | €1,018 | €14,324 | +€13,306 | +1,307% |
| Deferred charges and accrued income | 490/1 | €769 | €798 | +€29 | +3.8% |
| Total equity and liabilities | 10/49 | €1,625,467 | €1,636,731 | +€11,264 | +0.7% |
| Equity | 10/15 | €359,677 | €394,522 | +€34,845 | +9.7% |
| Contributions | 10/11 | €162,000 | €162,000 | = | 0.0% |
| Capital | 10 | €162,000 | €162,000 | = | 0.0% |
| Issued capital | 100 | €162,000 | €162,000 | = | 0.0% |
| Reserves | 13 | €126,335 | €122,155 | -€4,180 | -3.3% |
| Non-distributable reserves | 130/1 | €16,200 | €16,200 | = | 0.0% |
| Legal reserve | 130 | €16,200 | €16,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €98,885 | €94,705 | -€4,180 | -4.2% |
| Distributable reserves | 133 | €11,250 | €11,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,342 | €110,367 | +€39,025 | +54.7% |
| Provisions and deferred taxes | 16 | €42,333 | €40,543 | -€1,791 | -4.2% |
| Deferred taxes | 168 | €42,333 | €40,543 | -€1,791 | -4.2% |
| Amounts payable | 17/49 | €1,223,457 | €1,201,666 | -€21,791 | -1.8% |
| Amounts payable after more than one year | 17 | €1,062,692 | €998,657 | -€64,035 | -6.0% |
| Financial debts | 170/4 | €1,060,192 | €996,157 | -€64,035 | -6.0% |
| Other amounts payable | 178/9 | €2,500 | €2,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €151,875 | €194,119 | +€42,244 | +27.8% |
| Current portion of amounts payable after more than one year | 42 | €57,837 | €74,575 | +€16,738 | +28.9% |
| Trade debts | 44 | €76,071 | €84,209 | +€8,139 | +10.7% |
| Suppliers | 440/4 | €76,071 | €84,209 | +€8,139 | +10.7% |
| Taxes, remuneration and social security | 45 | €16,161 | €29,984 | +€13,823 | +85.5% |
| Taxes | 450/3 | €16,161 | €29,984 | +€13,823 | +85.5% |
| Other amounts payable | 47/48 | €1,807 | €5,351 | +€3,544 | +196% |
| Accrued charges and deferred income | 492/3 | €8,890 | €8,890 | = | 0.0% |
| Non-recurring operating income | 76A | - | €51 | +€51 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,342 | €37,342 | = | 0.0% |
| Other operating charges | 640/8 | €28,347 | €29,186 | +€839 | +3.0% |
| Gross operating margin | 9900 | €132,434 | €127,104 | -€5,330 | -4.0% |
| Operating profit (loss) | 9901 | €66,745 | €60,576 | -€6,168 | -9.2% |
| Financial income | 75/76B | €11,000 | €11,000 | +€0 | 0.0% |
| Recurring financial income | 75 | €11,000 | €11,000 | +€0 | 0.0% |
| Financial charges | 65/66B | €21,092 | €23,897 | +€2,805 | +13.3% |
| Recurring financial charges | 65 | €21,092 | €23,897 | +€2,805 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €56,653 | €47,680 | -€8,973 | -15.8% |
| Transfer from deferred taxes | 780 | €1,791 | €1,791 | = | 0.0% |
| Income taxes | 67/77 | €14,567 | €14,625 | +€57 | +0.4% |
| Profit (loss) for the period | 9904 | €43,876 | €34,845 | -€9,031 | -20.6% |
| Transfer from tax-exempt reserves | 789 | €4,180 | €4,180 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,056 | €39,025 | -€9,031 | -18.8% |
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 27 October 2026 via checked.be.