IMMO DEN: 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 DEN
Largest movements
- Tangible fixed assets +€3.2m
up €3.2m (+20.9%), from €15.2m to €18.4m
of which Land and buildings: +€3.2m
- Stocks and contracts -€201,702
down €201,702 (-38.9%), from €518,086 to €316,384
- Debts after one year +€3.1m
up €3.1m (+22.9%), from €13.4m to €16.5m
- Other debts -€884,154
down €884,154 (-56.4%), from €1.6m to €683,805
- Current portion of long-term debt +€305,199
up €305,199 (+120.5%), from €253,326 to €558,524
- Profit (loss) carried forward +€266,698
up €266,698 (+36.5%), from €730,123 to €996,821
- Gross operating margin +€1.1m
up €1.1m (+1375.2%), from €82,786 to €1.2m
- Depreciation +€344,984
up €344,984 (+335.5%), from €102,819 to €447,803
- Financial charges +€323,709
up €323,709 (+227.0%), from €142,598 to €466,307
of which Financial charges: +€393,709
- Taxes +€38,531
up €38,531, from €0 to €38,531
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 | €15,974,742 | €18,793,928 | +€2.8m | +17.6% |
| Fixed assets | 21/28 | €15,285,110 | €18,457,627 | +€3.2m | +20.8% |
| Tangible fixed assets | 22/27 | €15,201,610 | €18,374,127 | +€3.2m | +20.9% |
| Land and buildings | 22 | €14,908,009 | €18,148,793 | +€3.2m | +21.7% |
| Plant, machinery and equipment | 23 | €244,460 | €193,882 | -€50,578 | -20.7% |
| Furniture and vehicles | 24 | €49,140 | €31,452 | -€17,689 | -36.0% |
| Financial fixed assets | 28 | €83,500 | €83,500 | = | 0.0% |
| Current assets | 29/58 | €689,632 | €336,301 | -€353,331 | -51.2% |
| Stocks and contracts in progress | 3 | €518,086 | €316,384 | -€201,702 | -38.9% |
| Stocks | 30/36 | €518,086 | €316,384 | -€201,702 | -38.9% |
| Amounts receivable within one year | 40/41 | €92,011 | €0 | -€92,011 | -100.0% |
| Trade receivables | 40 | €92,011 | €0 | -€92,011 | -100.0% |
| Cash at bank and in hand | 54/58 | €79,351 | €19,729 | -€59,622 | -75.1% |
| Deferred charges and accrued income | 490/1 | €184 | €188 | +€4 | +2.2% |
| Total equity and liabilities | 10/49 | €15,974,742 | €18,793,928 | +€2.8m | +17.6% |
| Equity | 10/15 | €732,623 | €999,321 | +€266,698 | +36.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Outside capital | 11 | €2,500 | €2,500 | = | 0.0% |
| Other | 1109/19 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €730,123 | €996,821 | +€266,698 | +36.5% |
| Amounts payable | 17/49 | €15,242,119 | €17,794,606 | +€2.6m | +16.7% |
| Amounts payable after more than one year | 17 | €13,415,574 | €16,486,870 | +€3.1m | +22.9% |
| Financial debts | 170/4 | €13,415,574 | €16,486,870 | +€3.1m | +22.9% |
| Amounts payable within one year | 42/48 | €1,826,545 | €1,307,737 | -€518,808 | -28.4% |
| Current portion of amounts payable after more than one year | 42 | €253,326 | €558,524 | +€305,199 | +120.5% |
| Trade debts | 44 | €1,166 | €24,909 | +€23,743 | +2036.3% |
| Suppliers | 440/4 | €1,166 | €24,909 | +€23,743 | +2036.3% |
| Taxes, remuneration and social security | 45 | €4,095 | €40,498 | +€36,404 | +889.1% |
| Taxes | 450/3 | €4,095 | €40,498 | +€36,404 | +889.1% |
| Other amounts payable | 47/48 | €1,567,958 | €683,805 | -€884,154 | -56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,819 | €447,803 | +€344,984 | +335.5% |
| Other operating charges | 640/8 | €1,620 | €1,893 | +€273 | +16.9% |
| Gross operating margin | 9900 | €82,786 | €1,221,232 | +€1.1m | +1375.2% |
| Operating profit (loss) | 9901 | -€21,653 | €771,536 | +€793,188 | |
| Financial income | 75/76B | €2,432 | €0 | -€2,432 | -100.0% |
| Recurring financial income | 75 | €2,432 | €0 | -€2,432 | -100.0% |
| Non-recurring financial income | 76B | €2,432 | €0 | -€2,432 | -100.0% |
| Financial charges | 65/66B | €142,598 | €466,307 | +€323,709 | +227.0% |
| Recurring financial charges | 65 | €72,598 | €466,307 | +€393,709 | +542.3% |
| Non-recurring financial charges | 66B | €70,000 | €0 | -€70,000 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€161,818 | €305,229 | +€467,047 | |
| Income taxes | 67/77 | €0 | €38,531 | +€38,531 | |
| Profit (loss) for the period | 9904 | -€161,818 | €266,698 | +€428,516 | |
| Profit (loss) for the period to be appropriated | 9905 | -€161,818 | €266,698 | +€428,516 |
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 5 October 2026 via checked.be.