IMMO DESCAN: 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 DESCAN
Largest movements
- Tangible fixed assets +€293,661
up €293,661 (+45.2%), from €649,179 to €942,840
of which Assets under construction and advance payments: +€191,976
- Receivables after one year -€30,000
down €30,000 (-100%), from €30,000 to €0
- Cash -€24,195
down €24,195 (-74.2%), from €32,622 to €8,427
mainly Investment in fixed assets (net) (-€323,712) and Current portion of long-term debt (-€23,292)
- Receivables within one year +€22,000
up €22,000 (+22.0%), from €100,000 to €122,000
- Other debts +€184,787
up €184,787 (+1,059%), from €17,451 to €202,238
- Reserves +€79,717
up €79,717 (+13.6%), from €586,192 to €665,910
of which Distributable reserves: +€88,303
- Tax, wage and social debts +€25,606
up €25,606 (+262%), from €9,790 to €35,396
- Current portion of long-term debt -€23,292
down €23,292 (-100%), from €23,292 to €0
- Gross operating margin +€39,166
up €39,166 (+31.9%), from €122,867 to €162,033
- Taxes +€32,324
up €32,324 (+713%), from €4,536 to €36,860
- Depreciation -€8,459
down €8,459 (-22.0%), from €38,509 to €30,051
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 | €811,801 | €1,073,267 | +€261,466 | +32.2% |
| Fixed assets | 21/28 | €649,179 | €942,840 | +€293,661 | +45.2% |
| Tangible fixed assets | 22/27 | €649,179 | €942,840 | +€293,661 | +45.2% |
| Land and buildings | 22 | €493,348 | €577,445 | +€84,097 | +17.0% |
| Plant, machinery and equipment | 23 | €4,486 | €22,170 | +€17,684 | +394% |
| Furniture and vehicles | 24 | €96 | €0 | -€96 | -100% |
| Assets under construction and advance payments | 27 | €151,250 | €343,226 | +€191,976 | +127% |
| Current assets | 29/58 | €162,622 | €130,427 | -€32,195 | -19.8% |
| Amounts receivable after more than one year | 29 | €30,000 | €0 | -€30,000 | -100% |
| Other amounts receivable | 291 | €30,000 | €0 | -€30,000 | -100% |
| Amounts receivable within one year | 40/41 | €100,000 | €122,000 | +€22,000 | +22.0% |
| Other amounts receivable | 41 | €100,000 | €122,000 | +€22,000 | +22.0% |
| Cash at bank and in hand | 54/58 | €32,622 | €8,427 | -€24,195 | -74.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €811,801 | €1,073,267 | +€261,466 | +32.2% |
| Equity | 10/15 | €648,192 | €727,910 | +€79,717 | +12.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €586,192 | €665,910 | +€79,717 | +13.6% |
| Tax-exempt reserves | 132 | €311,693 | €303,108 | -€8,586 | -2.8% |
| Distributable reserves | 133 | €274,499 | €362,802 | +€88,303 | +32.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €106,382 | €103,234 | -€3,148 | -3.0% |
| Deferred taxes | 168 | €106,382 | €103,234 | -€3,148 | -3.0% |
| Amounts payable | 17/49 | €57,226 | €242,124 | +€184,897 | +323% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €51,103 | €238,588 | +€187,485 | +367% |
| Current portion of amounts payable after more than one year | 42 | €23,292 | €0 | -€23,292 | -100% |
| Trade debts | 44 | €570 | €954 | +€384 | +67.3% |
| Suppliers | 440/4 | €570 | €954 | +€384 | +67.3% |
| Taxes, remuneration and social security | 45 | €9,790 | €35,396 | +€25,606 | +262% |
| Taxes | 450/3 | €9,790 | €35,396 | +€25,606 | +262% |
| Other amounts payable | 47/48 | €17,451 | €202,238 | +€184,787 | +1,059% |
| Accrued charges and deferred income | 492/3 | €6,123 | €3,535 | -€2,588 | -42.3% |
| Non-recurring operating income | 76A | - | €109,560 | +€109,560 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,509 | €30,051 | -€8,459 | -22.0% |
| Other operating charges | 640/8 | €4,726 | €5,809 | +€1,083 | +22.9% |
| Gross operating margin | 9900 | €122,867 | €162,033 | +€39,166 | +31.9% |
| Operating profit (loss) | 9901 | €79,631 | €126,173 | +€46,541 | +58.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €906 | €302 | -€605 | -66.7% |
| Recurring financial charges | 65 | €906 | €302 | -€605 | -66.7% |
| Profit (loss) for the period before taxes | 9903 | €78,725 | €125,871 | +€47,146 | +59.9% |
| Transfer from deferred taxes | 780 | €6,215 | €3,148 | -€3,067 | -49.3% |
| Transfer to deferred taxes | 680 | €19,909 | €0 | -€19,909 | -100% |
| Income taxes | 67/77 | €4,536 | €36,860 | +€32,324 | +713% |
| Profit (loss) for the period | 9904 | €60,496 | €92,159 | +€31,664 | +52.3% |
| Transfer from tax-exempt reserves | 789 | €13,847 | €8,586 | -€5,261 | -38.0% |
| Transfer to tax-exempt reserves | 689 | €59,726 | €0 | -€59,726 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €14,617 | €100,745 | +€86,128 | +589% |
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 19 October 2026 via checked.be.