IMMO DJ 46: 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 DJ 46
Largest movements
- Tangible fixed assets +€368,928
up €368,928 (+91.7%), from €402,531 to €771,459
of which Land and buildings: +€344,553
- Receivables within one year -€24,941
down €24,941 (-91.8%), from €27,165 to €2,225
- Cash -€9,468
down €9,468 (-90.0%), from €10,525 to €1,057
mainly Investment in fixed assets (net) (-€407,513) and Other debts (-€61,357)
- Debts after one year +€401,534
up €401,534 (+791%), from €50,742 to €452,276
- Other debts -€61,357
down €61,357 (-22.6%), from €272,083 to €210,726
- Current portion of long-term debt +€30,142
up €30,142 (+862%), from €3,497 to €33,639
- Profit (loss) carried forward -€20,822
down €20,822 (-9.3%), from -€222,805 to -€243,627
- Trade debts -€15,794
down €15,794 (-47.0%), from €33,574 to €17,780
- Gross operating margin -€22,638
down €22,638 (-34.4%), from €65,902 to €43,264
- Financial charges +€9,791
up €9,791 (+246%), from €3,981 to €13,772
- Depreciation +€6,592
up €6,592 (+20.6%), from €31,993 to €38,584
- Other operating charges -€4,550
down €4,550 (-28.0%), from €16,280 to €11,730
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 | €442,256 | €775,360 | +€333,104 | +75.3% |
| Fixed assets | 21/28 | €402,531 | €771,459 | +€368,928 | +91.7% |
| Tangible fixed assets | 22/27 | €402,531 | €771,459 | +€368,928 | +91.7% |
| Land and buildings | 22 | €361,565 | €706,118 | +€344,553 | +95.3% |
| Plant, machinery and equipment | 23 | €38,897 | €63,104 | +€24,207 | +62.2% |
| Furniture and vehicles | 24 | €2,070 | €2,237 | +€167 | +8.1% |
| Current assets | 29/58 | €39,725 | €3,901 | -€35,824 | -90.2% |
| Amounts receivable within one year | 40/41 | €27,165 | €2,225 | -€24,941 | -91.8% |
| Trade receivables | 40 | €27,165 | €2,225 | -€24,941 | -91.8% |
| Cash at bank and in hand | 54/58 | €10,525 | €1,057 | -€9,468 | -90.0% |
| Deferred charges and accrued income | 490/1 | €2,034 | €619 | -€1,415 | -69.6% |
| Total equity and liabilities | 10/49 | €442,256 | €775,360 | +€333,104 | +75.3% |
| Equity | 10/15 | €81,760 | €60,938 | -€20,822 | -25.5% |
| Contributions | 10/11 | €277,981 | €277,981 | = | 0.0% |
| Reserves | 13 | €26,583 | €26,583 | = | 0.0% |
| Distributable reserves | 133 | €26,583 | €26,583 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€222,805 | -€243,627 | -€20,822 | -9.3% |
| Amounts payable | 17/49 | €360,496 | €714,422 | +€353,926 | +98.2% |
| Amounts payable after more than one year | 17 | €50,742 | €452,276 | +€401,534 | +791% |
| Financial debts | 170/4 | €50,742 | €452,276 | +€401,534 | +791% |
| Amounts payable within one year | 42/48 | €309,154 | €262,146 | -€47,008 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €3,497 | €33,639 | +€30,142 | +862% |
| Trade debts | 44 | €33,574 | €17,780 | -€15,794 | -47.0% |
| Suppliers | 440/4 | €33,574 | €17,780 | -€15,794 | -47.0% |
| Other amounts payable | 47/48 | €272,083 | €210,726 | -€61,357 | -22.6% |
| Accrued charges and deferred income | 492/3 | €600 | - | -€600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,993 | €38,584 | +€6,592 | +20.6% |
| Other operating charges | 640/8 | €16,280 | €11,730 | -€4,550 | -28.0% |
| Gross operating margin | 9900 | €65,902 | €43,264 | -€22,638 | -34.4% |
| Operating profit (loss) | 9901 | €17,629 | -€7,050 | -€24,679 | |
| Financial income | 75/76B | €234 | €0 | -€234 | -100.0% |
| Recurring financial income | 75 | €234 | €0 | -€234 | -100.0% |
| Financial charges | 65/66B | €3,981 | €13,772 | +€9,791 | +246% |
| Recurring financial charges | 65 | €3,981 | €13,772 | +€9,791 | +246% |
| Profit (loss) for the period before taxes | 9903 | €13,882 | -€20,822 | -€34,703 | |
| Profit (loss) for the period | 9904 | €13,882 | -€20,822 | -€34,703 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,882 | -€20,822 | -€34,703 |
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 16 October 2026 via checked.be.