Immo Dreef: 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.
What changed
Immo Dreef
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€14,061
2024 · €8,457+€5,604
Equity
€955,690
2024 · €941,629+€14,061
Cash
€59,558
2024 · €52,920+€6,639
Balance sheet total
€1.4m
2024 · €1.5m-€111,871
Largest movements
Assets
- Receivables within one year -€69,100
down €69,100 (-37.5%), from €184,046 to €114,946
of which Other amounts receivable: -€70,000
- Tangible fixed assets -€49,783
down €49,783 (-4.0%), from €1.2m to €1.2m
Equity and liabilities
- Other debts -€92,392
down €92,392 (-33.9%), from €272,544 to €180,151
- Debts after one year -€24,987
down €24,987 (-17.7%), from €140,940 to €115,953
Income statement
- Gross operating margin +€8,504
up €8,504 (+12.7%), from €66,799 to €75,303
- Taxes +€4,890
up €4,890 (+50.9%), from €9,615 to €14,505
- Depreciation +€1,464
up €1,464 (+3.0%), from €48,319 to €49,783
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
€8,457
Gross operating margin
+€8,504
Depreciation
-€1,464
Other operating charges
+€683
Financial income
+€2
Financial charges
+€238
Taxes
-€4,890
Deferred taxes and other
+€2,531
Result 2025
€14,061
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.
From operations
+€31,722
Investment
-€373
Financing
-€24,710
Cash 2024
€52,920
From operations (derived)
+€31,722
Net result for the year
+€14,061
Depreciation
+€49,783
Receivables within one year
+€69,100
Provisions
-€8,879
Smaller working-capital items
+€50
Other debts
-€92,392
Investment (derived)
-€373
Current investments
-€373
Financing
-€24,710
Debts after one year
-€24,987
Current portion of long-term debt
+€277
Cash 2025
€59,558
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,474,710 | €1,362,839 | -€111,871 | -7.6% |
| Fixed assets | 21/28 | €1,237,450 | €1,187,667 | -€49,783 | -4.0% |
| Tangible fixed assets | 22/27 | €1,236,625 | €1,186,842 | -€49,783 | -4.0% |
| Land and buildings | 22 | €1,236,625 | €1,186,842 | -€49,783 | -4.0% |
| Financial fixed assets | 28 | €825 | €825 | = | 0.0% |
| Current assets | 29/58 | €237,260 | €175,171 | -€62,089 | -26.2% |
| Amounts receivable within one year | 40/41 | €184,046 | €114,946 | -€69,100 | -37.5% |
| Trade receivables | 40 | €700 | €1,600 | +€900 | +128.6% |
| Other amounts receivable | 41 | €183,346 | €113,346 | -€70,000 | -38.2% |
| Current investments | 50/53 | €294 | €667 | +€373 | +126.6% |
| Cash at bank and in hand | 54/58 | €52,920 | €59,558 | +€6,639 | +12.5% |
| Total equity and liabilities | 10/49 | €1,474,710 | €1,362,839 | -€111,871 | -7.6% |
| Equity | 10/15 | €941,629 | €955,690 | +€14,061 | +1.5% |
| Contributions | 10/11 | €272,700 | €272,700 | = | 0.0% |
| Capital | 10 | €272,700 | €272,700 | = | 0.0% |
| Issued capital | 100 | €272,700 | €272,700 | = | 0.0% |
| Reserves | 13 | €668,929 | €682,990 | +€14,061 | +2.1% |
| Non-distributable reserves | 130/1 | €42,300 | €42,300 | = | 0.0% |
| Legal reserve | 130 | €42,300 | €42,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €255,815 | €229,177 | -€26,638 | -10.4% |
| Distributable reserves | 133 | €370,814 | €411,513 | +€40,699 | +11.0% |
| Provisions and deferred taxes | 16 | €85,272 | €76,392 | -€8,879 | -10.4% |
| Deferred taxes | 168 | €85,272 | €76,392 | -€8,879 | -10.4% |
| Amounts payable | 17/49 | €447,809 | €330,756 | -€117,053 | -26.1% |
| Amounts payable after more than one year | 17 | €140,940 | €115,953 | -€24,987 | -17.7% |
| Financial debts | 170/4 | €140,940 | €115,953 | -€24,987 | -17.7% |
| Amounts payable within one year | 42/48 | €306,869 | €214,804 | -€92,065 | -30.0% |
| Current portion of amounts payable after more than one year | 42 | €24,710 | €24,987 | +€277 | +1.1% |
| Trade debts | 44 | €0 | €160 | +€160 | |
| Suppliers | 440/4 | €0 | €160 | +€160 | |
| Taxes, remuneration and social security | 45 | €9,615 | €9,505 | -€110 | -1.1% |
| Taxes | 450/3 | €9,615 | €9,505 | -€110 | -1.1% |
| Other amounts payable | 47/48 | €272,544 | €180,151 | -€92,392 | -33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,319 | €49,783 | +€1,464 | +3.0% |
| Other operating charges | 640/8 | €4,531 | €3,848 | -€683 | -15.1% |
| Gross operating margin | 9900 | €66,799 | €75,303 | +€8,504 | +12.7% |
| Operating profit (loss) | 9901 | €13,949 | €21,673 | +€7,723 | +55.4% |
| Financial income | 75/76B | €0 | €2 | +€2 | +754.5% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +754.5% |
| Financial charges | 65/66B | €2,226 | €1,988 | -€238 | -10.7% |
| Recurring financial charges | 65 | €2,226 | €1,988 | -€238 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €11,724 | €19,687 | +€7,963 | +67.9% |
| Transfer from deferred taxes | 780 | €6,348 | €8,879 | +€2,531 | +39.9% |
| Income taxes | 67/77 | €9,615 | €14,505 | +€4,890 | +50.9% |
| Profit (loss) for the period | 9904 | €8,457 | €14,061 | +€5,604 | +66.3% |
| Transfer from tax-exempt reserves | 789 | €19,045 | €26,638 | +€7,593 | +39.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,502 | €40,699 | +€13,197 | +48.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.