IMMO DERVEAUX: 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 DERVEAUX
Largest movements
- Cash -€61,633
down €61,633 (-81.2%), from €75,878 to €14,245
mainly Investment in fixed assets (net) (-€77,028) and Trade debts (-€58,842)
- Tangible fixed assets +€16,481
up €16,481 (+1.2%), from €1.4m to €1.4m
of which Land and buildings: +€37,272
- Trade debts -€58,842
down €58,842 (-49.0%), from €120,009 to €61,167
- Debts after one year -€51,989
down €51,989 (-5.7%), from €906,957 to €854,968
- Reserves +€44,359
up €44,359 (+42.2%), from €105,139 to €149,498
of which Distributable reserves: +€44,359
- Short-term financial debts +€26,332
new in 2025: €26,332
- Current portion of long-term debt +€21,617
up €21,617 (+26.3%), from €82,060 to €103,677
- Depreciation -€72,578
down €72,578 (-54.5%), from €133,125 to €60,547
- Gross operating margin +€27,381
up €27,381 (+13.8%), from €198,268 to €225,650
- Taxes +€12,161
up €12,161 (+4,614%), from €264 to €12,425
- Financial charges +€9,396
up €9,396 (+30.4%), from €30,960 to €40,357
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 | €1,485,383 | €1,448,142 | -€37,241 | -2.5% |
| Fixed assets | 21/28 | €1,380,458 | €1,396,939 | +€16,481 | +1.2% |
| Tangible fixed assets | 22/27 | €1,380,408 | €1,396,889 | +€16,481 | +1.2% |
| Land and buildings | 22 | €1,342,217 | €1,379,489 | +€37,272 | +2.8% |
| Furniture and vehicles | 24 | €38,191 | €17,400 | -€20,791 | -54.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €104,925 | €51,203 | -€53,722 | -51.2% |
| Amounts receivable within one year | 40/41 | €24,540 | €33,472 | +€8,933 | +36.4% |
| Trade receivables | 40 | €24,092 | €33,334 | +€9,243 | +38.4% |
| Other amounts receivable | 41 | €448 | €138 | -€310 | -69.2% |
| Cash at bank and in hand | 54/58 | €75,878 | €14,245 | -€61,633 | -81.2% |
| Deferred charges and accrued income | 490/1 | €4,508 | €3,486 | -€1,022 | -22.7% |
| Total equity and liabilities | 10/49 | €1,485,383 | €1,448,142 | -€37,241 | -2.5% |
| Equity | 10/15 | €281,411 | €325,769 | +€44,359 | +15.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €105,139 | €149,498 | +€44,359 | +42.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €98,939 | €143,298 | +€44,359 | +44.8% |
| Profit (loss) carried forward | 14 | €114,272 | €114,272 | = | 0.0% |
| Amounts payable | 17/49 | €1,203,972 | €1,122,373 | -€81,599 | -6.8% |
| Amounts payable after more than one year | 17 | €906,957 | €854,968 | -€51,989 | -5.7% |
| Financial debts | 170/4 | €906,957 | €854,968 | -€51,989 | -5.7% |
| Amounts payable within one year | 42/48 | €290,905 | €267,405 | -€23,500 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €82,060 | €103,677 | +€21,617 | +26.3% |
| Financial debts | 43 | - | €26,332 | +€26,332 | |
| Credit institutions | 430/8 | - | €26,332 | +€26,332 | |
| Trade debts | 44 | €120,009 | €61,167 | -€58,842 | -49.0% |
| Suppliers | 440/4 | €120,009 | €61,167 | -€58,842 | -49.0% |
| Advances received on contracts in progress | 46 | €250 | - | -€250 | |
| Taxes, remuneration and social security | 45 | €38,372 | €31,850 | -€6,522 | -17.0% |
| Taxes | 450/3 | €36,196 | €29,688 | -€6,507 | -18.0% |
| Remuneration and social security | 454/9 | €2,176 | €2,162 | -€14 | -0.7% |
| Other amounts payable | 47/48 | €50,215 | €44,379 | -€5,836 | -11.6% |
| Accrued charges and deferred income | 492/3 | €6,110 | - | -€6,110 | |
| Non-recurring operating income | 76A | €10,000 | €7,438 | -€2,562 | -25.6% |
| Remuneration, social security and pensions | 62 | €49,666 | €51,218 | +€1,552 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,125 | €60,547 | -€72,578 | -54.5% |
| Other operating charges | 640/8 | €7,588 | €6,504 | -€1,084 | -14.3% |
| Non-recurring operating charges | 66A | - | €10,427 | +€10,427 | |
| Gross operating margin | 9900 | €198,268 | €225,650 | +€27,381 | +13.8% |
| Operating profit (loss) | 9901 | €7,889 | €96,953 | +€89,064 | +1,129% |
| Financial income | 75/76B | €1,767 | €187 | -€1,580 | -89.4% |
| Recurring financial income | 75 | €1,767 | €187 | -€1,580 | -89.4% |
| Financial charges | 65/66B | €30,960 | €40,357 | +€9,396 | +30.4% |
| Recurring financial charges | 65 | €30,960 | €40,357 | +€9,396 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | -€21,304 | €56,784 | +€78,088 | |
| Income taxes | 67/77 | €264 | €12,425 | +€12,161 | +4,614% |
| Profit (loss) for the period | 9904 | -€21,568 | €44,359 | +€65,926 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,568 | €44,359 | +€65,926 |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.