IMMO DOUVE: 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.
What changed
IMMO DOUVE
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€473,809
2024 · €20,575-€494,385
Equity
€768,220
2024 · €1.2m-€473,809
Cash
€53,893
2024 · €141,616-€87,723
Balance sheet total
€10.1m
2024 · €3.6m+€6.5m
Largest movements
Assets
- Tangible fixed assets +€6.5m
up €6.5m (+190%), from €3.4m to €10.0m
of which Land and buildings: +€6.5m
Equity and liabilities
- Other debts +€7.0m
up €7.0m (+612%), from €1.1m to €8.2m
- Reserves -€275,533
down €275,533 (-36.1%), from €762,753 to €487,220
of which Distributable reserves: -€247,871
- Profit (loss) carried forward -€198,277
down €198,277 (-100%), from €198,277 to €0
Income statement
- Depreciation +€293,678
up €293,678 (+139%), from €211,628 to €505,305
- Gross operating margin -€128,932
down €128,932 (-40.5%), from €318,276 to €189,345
- Financial charges +€59,638
up €59,638 (+264%), from €22,591 to €82,229
- Other operating charges +€30,226
up €30,226 (+55.3%), from €54,613 to €84,839
- Taxes -€18,172
down €18,172 (-100%), from €18,172 to €0
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.
Result 2024
€20,575
Gross operating margin
-€128,932
Depreciation
-€293,678
Other operating charges
-€30,226
Financial charges
-€59,638
Taxes
+€18,172
Deferred taxes and other
-€83
Result 2025
-€473,809
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€7.0m
Investment
-€7.0m
Financing
-€98,368
Cash 2024
€141,616
From operations (derived)
+€7.0m
Net result for the year
-€473,809
Depreciation
+€505,305
Smaller working-capital items
-€31,496
Deferred charges and accrued income
-€39,310
Trade debts
+€51,805
Other debts
+€7.0m
Investment (derived)
-€7.0m
Investment in fixed assets (net)
-€7.0m
Financing
-€98,368
Debts after one year
-€100,246
Current portion of long-term debt
+€1,878
Cash 2025
€53,893
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,616,547 | €10,090,750 | +€6.5m | +179% |
| Fixed assets | 21/28 | €3,436,318 | €9,956,836 | +€6.5m | +190% |
| Tangible fixed assets | 22/27 | €3,436,318 | €9,956,836 | +€6.5m | +190% |
| Land and buildings | 22 | €3,354,077 | €9,877,896 | +€6.5m | +195% |
| Plant, machinery and equipment | 23 | €5,578 | €4,791 | -€788 | -14.1% |
| Furniture and vehicles | 24 | €17,052 | €14,539 | -€2,513 | -14.7% |
| Assets under construction and advance payments | 27 | €59,610 | €59,610 | = | 0.0% |
| Current assets | 29/58 | €180,228 | €133,914 | -€46,314 | -25.7% |
| Amounts receivable within one year | 40/41 | €9,173 | €11,273 | +€2,100 | +22.9% |
| Trade receivables | 40 | €8,842 | €11,273 | +€2,430 | +27.5% |
| Other amounts receivable | 41 | €331 | €0 | -€331 | -100% |
| Cash at bank and in hand | 54/58 | €141,616 | €53,893 | -€87,723 | -61.9% |
| Deferred charges and accrued income | 490/1 | €29,440 | €68,749 | +€39,310 | +134% |
| Total equity and liabilities | 10/49 | €3,616,547 | €10,090,750 | +€6.5m | +179% |
| Equity | 10/15 | €1,242,029 | €768,220 | -€473,809 | -38.1% |
| Contributions | 10/11 | €281,000 | €281,000 | = | 0.0% |
| Capital | 10 | €281,000 | €281,000 | = | 0.0% |
| Issued capital | 100 | €281,000 | €281,000 | = | 0.0% |
| Reserves | 13 | €762,753 | €487,220 | -€275,533 | -36.1% |
| Non-distributable reserves | 130/1 | €28,100 | €28,100 | = | 0.0% |
| Legal reserve | 130 | €28,100 | €28,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €366,273 | €338,612 | -€27,662 | -7.6% |
| Distributable reserves | 133 | €368,380 | €120,509 | -€247,871 | -67.3% |
| Profit (loss) carried forward | 14 | €198,277 | €0 | -€198,277 | -100% |
| Provisions and deferred taxes | 16 | €122,091 | €112,871 | -€9,221 | -7.6% |
| Deferred taxes | 168 | €122,091 | €112,871 | -€9,221 | -7.6% |
| Amounts payable | 17/49 | €2,252,426 | €9,209,659 | +€7.0m | +309% |
| Amounts payable after more than one year | 17 | €968,836 | €868,590 | -€100,246 | -10.3% |
| Financial debts | 170/4 | €968,836 | €868,590 | -€100,246 | -10.3% |
| Amounts payable within one year | 42/48 | €1,279,054 | €8,340,870 | +€7.1m | +552% |
| Current portion of amounts payable after more than one year | 42 | €103,356 | €105,234 | +€1,878 | +1.8% |
| Trade debts | 44 | €5,732 | €57,537 | +€51,805 | +904% |
| Suppliers | 440/4 | €5,732 | €57,537 | +€51,805 | +904% |
| Taxes, remuneration and social security | 45 | €23,101 | €7,262 | -€15,839 | -68.6% |
| Taxes | 450/3 | €23,101 | €7,262 | -€15,839 | -68.6% |
| Other amounts payable | 47/48 | €1,146,865 | €8,170,837 | +€7.0m | +612% |
| Accrued charges and deferred income | 492/3 | €4,537 | €200 | -€4,337 | -95.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €211,628 | €505,305 | +€293,678 | +139% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €54,613 | €84,839 | +€30,226 | +55.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €318,276 | €189,345 | -€128,932 | -40.5% |
| Operating profit (loss) | 9901 | €52,035 | -€400,800 | -€452,835 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €22,591 | €82,229 | +€59,638 | +264% |
| Recurring financial charges | 65 | €22,591 | €82,229 | +€59,638 | +264% |
| Profit (loss) for the period before taxes | 9903 | €29,444 | -€483,030 | -€512,473 | |
| Transfer from deferred taxes | 780 | €9,303 | €9,221 | -€83 | -0.9% |
| Income taxes | 67/77 | €18,172 | €0 | -€18,172 | -100% |
| Profit (loss) for the period | 9904 | €20,575 | -€473,809 | -€494,385 | |
| Transfer from tax-exempt reserves | 789 | €27,910 | €27,662 | -€248 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €48,486 | -€446,147 | -€494,633 |
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.