IMMO DF: 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 DF
Largest movements
- Cash +€125,648
up €125,648 (+38.3%), from €328,418 to €454,065
mainly Depreciation (+€117,954) and Net result for the year (+€22,319)
- Tangible fixed assets -€106,316
down €106,316 (-6.6%), from €1.6m to €1.5m
of which Land and buildings: -€99,149
- Receivables within one year +€36,705
up €36,705 (+62.3%), from €58,869 to €95,574
of which Other amounts receivable: +€36,705
- Reserves +€22,310
up €22,310 (+21.7%), from €102,899 to €125,209
of which Distributable reserves: +€21,190
- Gross operating margin -€6,973
down €6,973 (-3.6%), from €194,482 to €187,509
- Depreciation +€2,284
up €2,284 (+2.0%), from €115,670 to €117,954
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 | €1,997,450 | €2,054,138 | +€56,688 | +2.8% |
| Fixed assets | 21/28 | €1,604,224 | €1,497,908 | -€106,316 | -6.6% |
| Tangible fixed assets | 22/27 | €1,604,224 | €1,497,908 | -€106,316 | -6.6% |
| Land and buildings | 22 | €1,485,788 | €1,386,640 | -€99,149 | -6.7% |
| Plant, machinery and equipment | 23 | €118,436 | €111,268 | -€7,168 | -6.1% |
| Current assets | 29/58 | €393,226 | €556,230 | +€163,005 | +41.5% |
| Amounts receivable within one year | 40/41 | €58,869 | €95,574 | +€36,705 | +62.3% |
| Trade receivables | 40 | €55,416 | €55,416 | = | 0.0% |
| Other amounts receivable | 41 | €3,453 | €40,158 | +€36,705 | +1062.9% |
| Cash at bank and in hand | 54/58 | €328,418 | €454,065 | +€125,648 | +38.3% |
| Deferred charges and accrued income | 490/1 | €5,939 | €6,591 | +€653 | +11.0% |
| Total equity and liabilities | 10/49 | €1,997,450 | €2,054,138 | +€56,688 | +2.8% |
| Equity | 10/15 | €1,498,450 | €1,520,769 | +€22,319 | +1.5% |
| Contributions | 10/11 | €1,075,000 | €1,075,000 | = | 0.0% |
| Capital | 10 | €1,075,000 | €1,075,000 | = | 0.0% |
| Issued capital | 100 | €1,075,000 | €1,075,000 | = | 0.0% |
| Reserves | 13 | €102,899 | €125,209 | +€22,310 | +21.7% |
| Non-distributable reserves | 130/1 | €15,405 | €16,525 | +€1,120 | +7.3% |
| Legal reserve | 130 | €15,405 | €16,525 | +€1,120 | +7.3% |
| Tax-exempt reserves | 132 | €31,624 | €31,624 | = | 0.0% |
| Distributable reserves | 133 | €55,870 | €77,060 | +€21,190 | +37.9% |
| Profit (loss) carried forward | 14 | €320,551 | €320,560 | +€9 | 0.0% |
| Amounts payable | 17/49 | €499,000 | €533,370 | +€34,370 | +6.9% |
| Amounts payable after more than one year | 17 | €417,140 | €436,332 | +€19,192 | +4.6% |
| Other amounts payable | 178/9 | €417,140 | €436,332 | +€19,192 | +4.6% |
| Amounts payable within one year | 42/48 | €65,303 | €78,464 | +€13,161 | +20.2% |
| Trade debts | 44 | €62,166 | €73,083 | +€10,917 | +17.6% |
| Suppliers | 440/4 | €62,166 | €73,083 | +€10,917 | +17.6% |
| Taxes, remuneration and social security | 45 | €3,137 | €2,231 | -€906 | -28.9% |
| Remuneration and social security | 454/9 | €3,137 | €2,231 | -€906 | -28.9% |
| Other amounts payable | 47/48 | - | €3,150 | +€3,150 | |
| Accrued charges and deferred income | 492/3 | €16,557 | €18,574 | +€2,017 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,670 | €117,954 | +€2,284 | +2.0% |
| Other operating charges | 640/8 | €27,879 | €28,332 | +€453 | +1.6% |
| Gross operating margin | 9900 | €194,482 | €187,509 | -€6,973 | -3.6% |
| Operating profit (loss) | 9901 | €50,933 | €41,223 | -€9,710 | -19.1% |
| Financial charges | 65/66B | €16,421 | €16,674 | +€253 | +1.5% |
| Recurring financial charges | 65 | €16,421 | €16,674 | +€253 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €34,512 | €24,550 | -€9,962 | -28.9% |
| Income taxes | 67/77 | €3,137 | €2,231 | -€906 | -28.9% |
| Profit (loss) for the period | 9904 | €31,375 | €22,319 | -€9,056 | -28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,375 | €22,319 | -€9,056 | -28.9% |
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 8 October 2026 via checked.be.