Immo Devos: 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 Devos
Largest movements
- Cash +€89,175
up €89,175 (+23.8%), from €374,268 to €463,443
mainly Net result for the year (+€173,501) and Depreciation (+€86,246)
- Tangible fixed assets +€73,799
up €73,799 (+5.7%), from €1.3m to €1.4m
of which Land and buildings: +€99,444
- Current investments +€60,000
up €60,000 (+30.0%), from €200,000 to €260,000
- Receivables within one year -€40,659
down €40,659 (-48.3%), from €84,218 to €43,559
of which Other amounts receivable: -€30,934
- Reserves +€173,501
up €173,501 (+9.5%), from €1.8m to €2.0m
- Trade debts -€23,491
down €23,491 (-36.8%), from €63,873 to €40,382
- Gross operating margin +€47,892
up €47,892 (+14.2%), from €337,380 to €385,272
- Staff costs -€17,786
down €17,786 (-22.6%), from €78,678 to €60,892
- Write-downs -€12,306
down €12,306, from €1,495 to -€10,810
- Taxes +€8,564
up €8,564 (+21.2%), from €40,414 to €48,977
- Depreciation +€4,410
up €4,410 (+5.4%), from €81,836 to €86,246
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 | €2,023,199 | €2,192,650 | +€169,451 | +8.4% |
| Fixed assets | 21/28 | €1,305,505 | €1,379,303 | +€73,799 | +5.7% |
| Tangible fixed assets | 22/27 | €1,305,505 | €1,379,303 | +€73,799 | +5.7% |
| Land and buildings | 22 | €1,231,584 | €1,331,027 | +€99,444 | +8.1% |
| Plant, machinery and equipment | 23 | €3,073 | €1,662 | -€1,411 | -45.9% |
| Furniture and vehicles | 24 | €70,848 | €46,614 | -€24,234 | -34.2% |
| Current assets | 29/58 | €717,694 | €813,346 | +€95,652 | +13.3% |
| Stocks and contracts in progress | 3 | €55,000 | €40,000 | -€15,000 | -27.3% |
| Stocks | 30/36 | €55,000 | €40,000 | -€15,000 | -27.3% |
| Amounts receivable within one year | 40/41 | €84,218 | €43,559 | -€40,659 | -48.3% |
| Trade receivables | 40 | €50,735 | €41,010 | -€9,725 | -19.2% |
| Other amounts receivable | 41 | €33,483 | €2,549 | -€30,934 | -92.4% |
| Current investments | 50/53 | €200,000 | €260,000 | +€60,000 | +30.0% |
| Cash at bank and in hand | 54/58 | €374,268 | €463,443 | +€89,175 | +23.8% |
| Deferred charges and accrued income | 490/1 | €4,207 | €6,344 | +€2,137 | +50.8% |
| Total equity and liabilities | 10/49 | €2,023,199 | €2,192,650 | +€169,451 | +8.4% |
| Equity | 10/15 | €1,913,140 | €2,085,547 | +€172,407 | +9.0% |
| Contributions | 10/11 | €63,600 | €63,600 | = | 0.0% |
| Reserves | 13 | €1,826,607 | €2,000,108 | +€173,501 | +9.5% |
| Distributable reserves | 133 | €1,826,607 | €2,000,108 | +€173,501 | +9.5% |
| Investment grants | 15 | €22,934 | €21,840 | -€1,094 | -4.8% |
| Amounts payable | 17/49 | €110,058 | €107,102 | -€2,956 | -2.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €99,279 | €96,548 | -€2,731 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €8,403 | €0 | -€8,403 | -100.0% |
| Trade debts | 44 | €63,873 | €40,382 | -€23,491 | -36.8% |
| Suppliers | 440/4 | €63,873 | €40,382 | -€23,491 | -36.8% |
| Taxes, remuneration and social security | 45 | €7,812 | €23,224 | +€15,412 | +197.3% |
| Taxes | 450/3 | €911 | €19,891 | +€18,980 | +2083.6% |
| Remuneration and social security | 454/9 | €6,901 | €3,332 | -€3,569 | -51.7% |
| Other amounts payable | 47/48 | €19,191 | €32,943 | +€13,751 | +71.7% |
| Accrued charges and deferred income | 492/3 | €10,779 | €10,554 | -€225 | -2.1% |
| Remuneration, social security and pensions | 62 | €78,678 | €60,892 | -€17,786 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,836 | €86,246 | +€4,410 | +5.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,495 | -€10,810 | -€12,306 | |
| Other operating charges | 640/8 | €29,657 | €28,601 | -€1,056 | -3.6% |
| Gross operating margin | 9900 | €337,380 | €385,272 | +€47,892 | +14.2% |
| Operating profit (loss) | 9901 | €145,713 | €220,343 | +€74,630 | +51.2% |
| Financial income | 75/76B | €1,960 | €5,513 | +€3,553 | +181.3% |
| Recurring financial income | 75 | €1,960 | €5,513 | +€3,553 | +181.3% |
| Financial charges | 65/66B | €6,034 | €3,378 | -€2,656 | -44.0% |
| Recurring financial charges | 65 | €6,034 | €3,378 | -€2,656 | -44.0% |
| Profit (loss) for the period before taxes | 9903 | €141,639 | €222,478 | +€80,839 | +57.1% |
| Income taxes | 67/77 | €40,414 | €48,977 | +€8,564 | +21.2% |
| Profit (loss) for the period | 9904 | €101,226 | €173,501 | +€72,275 | +71.4% |
| Profit (loss) for the period to be appropriated | 9905 | €101,226 | €173,501 | +€72,275 | +71.4% |
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 12 October 2026 via checked.be.