IMMO-DEM: what changed
Two fiscal 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-DEM
Largest movements
- Tangible fixed assets -€16,886
down €16,886 (-8.4%), from €200,026 to €183,141
of which Land and buildings: -€13,503
- Cash -€7,436
down €7,436 (-41.2%), from €18,041 to €10,605
mainly Other debts (-€89,000) and Investment in fixed assets (net) (-€9,782)
- Receivables within one year +€5,016
up €5,016 (+16.0%), from €31,322 to €36,338
of which Other amounts receivable: +€3,626
- Other debts -€89,000
down €89,000 (-57.0%), from €156,202 to €67,202
- Debts after one year +€49,386
up €49,386 (+226.1%), from €21,838 to €71,224
- Reserves +€13,921
new in 2025: €13,921
- Profit (loss) carried forward +€5,272
no longer reported in 2025 (was -€5,272)
- Trade debts +€4,422
up €4,422 (+117.8%), from €3,753 to €8,175
- Gross operating margin +€1,507
up €1,507 (+2.8%), from €53,715 to €55,222
- Taxes +€1,397
up €1,397 (+28.3%), from €4,939 to €6,336
- Financial charges +€841
up €841 (+49.1%), from €1,714 to €2,555
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.
Cash bridge derived
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 | €251,453 | €232,204 | -€19,249 | -7.7% |
| Fixed assets | 21/28 | €200,026 | €183,141 | -€16,886 | -8.4% |
| Tangible fixed assets | 22/27 | €200,026 | €183,141 | -€16,886 | -8.4% |
| Land and buildings | 22 | €177,805 | €164,303 | -€13,503 | -7.6% |
| Plant, machinery and equipment | 23 | €21,970 | €18,838 | -€3,132 | -14.3% |
| Furniture and vehicles | 24 | €251 | - | -€251 | |
| Current assets | 29/58 | €51,427 | €49,064 | -€2,363 | -4.6% |
| Amounts receivable within one year | 40/41 | €31,322 | €36,338 | +€5,016 | +16.0% |
| Trade receivables | 40 | €11,706 | €13,096 | +€1,390 | +11.9% |
| Other amounts receivable | 41 | €19,616 | €23,243 | +€3,626 | +18.5% |
| Cash at bank and in hand | 54/58 | €18,041 | €10,605 | -€7,436 | -41.2% |
| Deferred charges and accrued income | 490/1 | €2,064 | €2,121 | +€57 | +2.8% |
| Total equity and liabilities | 10/49 | €251,453 | €232,204 | -€19,249 | -7.7% |
| Equity | 10/15 | €14,728 | €33,921 | +€19,192 | +130.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | - | €13,921 | +€13,921 | |
| Distributable reserves | 133 | - | €13,921 | +€13,921 | |
| Profit (loss) carried forward | 14 | -€5,272 | - | +€5,272 | |
| Amounts payable | 17/49 | €236,725 | €198,284 | -€38,441 | -16.2% |
| Amounts payable after more than one year | 17 | €21,838 | €71,224 | +€49,386 | +226.1% |
| Financial debts | 170/4 | €21,838 | €71,224 | +€49,386 | +226.1% |
| Amounts payable within one year | 42/48 | €212,947 | €125,517 | -€87,430 | -41.1% |
| Current portion of amounts payable after more than one year | 42 | €43,106 | €39,614 | -€3,492 | -8.1% |
| Trade debts | 44 | €3,753 | €8,175 | +€4,422 | +117.8% |
| Suppliers | 440/4 | €3,753 | €8,175 | +€4,422 | +117.8% |
| Taxes, remuneration and social security | 45 | €9,886 | €10,526 | +€639 | +6.5% |
| Taxes | 450/3 | €9,886 | €10,526 | +€639 | +6.5% |
| Other amounts payable | 47/48 | €156,202 | €67,202 | -€89,000 | -57.0% |
| Accrued charges and deferred income | 492/3 | €1,940 | €1,543 | -€397 | -20.4% |
| Non-recurring operating income | 76A | €20,000 | - | -€20,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,786 | €26,668 | -€119 | -0.4% |
| Other operating charges | 640/8 | €409 | €472 | +€63 | +15.5% |
| Gross operating margin | 9900 | €53,715 | €55,222 | +€1,507 | +2.8% |
| Operating profit (loss) | 9901 | €26,520 | €28,082 | +€1,563 | +5.9% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Non-recurring financial income | 76B | €6 | - | -€6 | |
| Financial charges | 65/66B | €1,714 | €2,555 | +€841 | +49.1% |
| Recurring financial charges | 65 | €1,714 | €2,555 | +€841 | +49.1% |
| Profit (loss) for the period before taxes | 9903 | €24,812 | €25,528 | +€716 | +2.9% |
| Income taxes | 67/77 | €4,939 | €6,336 | +€1,397 | +28.3% |
| Profit (loss) for the period | 9904 | €19,873 | €19,192 | -€681 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,873 | €19,192 | -€681 | -3.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.