IMMO - DUBOIS: 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 - DUBOIS
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€56,805
2024 · €34,561-€91,367
Equity
€297,010
2024 · €353,815-€56,805
Cash
€0
2024 · €1,336-€1,336
Balance sheet total
€2.2m
2024 · €1.2m+€931,507
Largest movements
Assets
- Tangible fixed assets +€882,831
up €882,831 (+74.1%), from €1.2m to €2.1m
of which Assets under construction and advance payments: +€963,681
- Receivables within one year +€50,345
up €50,345 (+106%), from €47,458 to €97,803
of which Other amounts receivable: +€41,712
Equity and liabilities
- Short-term financial debts +€1.0m
new in 2025: €1.0m
- Debts after one year -€64,006
down €64,006 (-13.7%), from €466,777 to €402,771
- Other debts +€41,565
up €41,565 (+18.6%), from €224,061 to €265,626
- Profit (loss) carried forward -€37,223
down €37,223 (-11.6%), from -€321,829 to -€359,052
Income statement
- Gross operating margin -€64,606
down €64,606 (-31.3%), from €206,314 to €141,708
- Financial charges +€23,560
up €23,560 (+129%), from €18,231 to €41,791
- Other operating charges +€2,846
up €2,846 (+37.9%), from €7,503 to €10,349
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
€34,561
Gross operating margin
-€64,606
Staff costs
+€257
Depreciation
-€911
Other operating charges
-€2,846
Financial charges
-€23,560
Taxes
+€300
Result 2025
-€56,805
raises the resultlowers the result
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
+€16,356
Investment
-€963,681
Financing
+€945,989
Cash 2024
€1,336
From operations (derived)
+€16,356
Net result for the year
-€56,805
Depreciation
+€80,850
Receivables within one year
-€50,345
Smaller working-capital items
+€23
Provisions
-€10,083
Trade debts
+€11,151
Other debts
+€41,565
Investment (derived)
-€963,681
Investment in fixed assets (net)
-€963,681
Financing
+€945,989
Debts after one year
-€64,006
Current portion of long-term debt
+€1,162
Short-term financial debts
+€1.0m
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,241,506 | €2,173,012 | +€931,507 | +75.0% |
| Fixed assets | 21/28 | €1,192,069 | €2,074,900 | +€882,831 | +74.1% |
| Tangible fixed assets | 22/27 | €1,192,069 | €2,074,900 | +€882,831 | +74.1% |
| Land and buildings | 22 | €1,061,750 | €992,319 | -€69,431 | -6.5% |
| Plant, machinery and equipment | 23 | €1,578 | €786 | -€791 | -50.2% |
| Furniture and vehicles | 24 | €37,742 | €27,114 | -€10,628 | -28.2% |
| Other tangible fixed assets | 26 | €11,000 | €11,000 | = | 0.0% |
| Assets under construction and advance payments | 27 | €80,000 | €1,043,681 | +€963,681 | +1,205% |
| Current assets | 29/58 | €49,436 | €98,112 | +€48,676 | +98.5% |
| Amounts receivable within one year | 40/41 | €47,458 | €97,803 | +€50,345 | +106% |
| Trade receivables | 40 | €15,300 | €23,933 | +€8,633 | +56.4% |
| Other amounts receivable | 41 | €32,159 | €73,870 | +€41,712 | +130% |
| Cash at bank and in hand | 54/58 | €1,336 | €0 | -€1,336 | -100% |
| Deferred charges and accrued income | 490/1 | €642 | €309 | -€333 | -51.9% |
| Total equity and liabilities | 10/49 | €1,241,506 | €2,173,012 | +€931,507 | +75.0% |
| Equity | 10/15 | €353,815 | €297,010 | -€56,805 | -16.1% |
| Contributions | 10/11 | €433,181 | €433,181 | = | 0.0% |
| Reserves | 13 | €242,463 | €222,881 | -€19,582 | -8.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €240,729 | €221,147 | -€19,582 | -8.1% |
| Distributable reserves | 133 | €1,733 | €1,733 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€321,829 | -€359,052 | -€37,223 | -11.6% |
| Provisions and deferred taxes | 16 | €123,957 | €113,873 | -€10,083 | -8.1% |
| Deferred taxes | 168 | €123,957 | €113,873 | -€10,083 | -8.1% |
| Amounts payable | 17/49 | €763,734 | €1,762,129 | +€998,395 | +131% |
| Amounts payable after more than one year | 17 | €466,777 | €402,771 | -€64,006 | -13.7% |
| Financial debts | 170/4 | €466,777 | €402,771 | -€64,006 | -13.7% |
| Amounts payable within one year | 42/48 | €295,457 | €1,359,358 | +€1.1m | +360% |
| Current portion of amounts payable after more than one year | 42 | €52,274 | €53,436 | +€1,162 | +2.2% |
| Financial debts | 43 | - | €1,008,833 | +€1.0m | |
| Credit institutions | 430/8 | - | €1,008,833 | +€1.0m | |
| Trade debts | 44 | €326 | €11,477 | +€11,151 | +3,416% |
| Suppliers | 440/4 | €326 | €11,477 | +€11,151 | +3,416% |
| Taxes, remuneration and social security | 45 | €18,796 | €19,986 | +€1,190 | +6.3% |
| Taxes | 450/3 | €8,864 | €6,571 | -€2,293 | -25.9% |
| Remuneration and social security | 454/9 | €9,932 | €13,415 | +€3,483 | +35.1% |
| Other amounts payable | 47/48 | €224,061 | €265,626 | +€41,565 | +18.6% |
| Accrued charges and deferred income | 492/3 | €1,500 | €0 | -€1,500 | -100% |
| Non-recurring operating income | 76A | €10,893 | €0 | -€10,893 | -100% |
| Remuneration, social security and pensions | 62 | €75,615 | €75,357 | -€257 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,940 | €80,850 | +€911 | +1.1% |
| Other operating charges | 640/8 | €7,503 | €10,349 | +€2,846 | +37.9% |
| Gross operating margin | 9900 | €206,314 | €141,708 | -€64,606 | -31.3% |
| Operating profit (loss) | 9901 | €43,257 | -€24,849 | -€68,106 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €18,231 | €41,791 | +€23,560 | +129% |
| Recurring financial charges | 65 | €18,231 | €41,791 | +€23,560 | +129% |
| Profit (loss) for the period before taxes | 9903 | €25,026 | -€66,641 | -€91,666 | |
| Transfer from deferred taxes | 780 | €10,083 | €10,083 | = | 0.0% |
| Income taxes | 67/77 | €548 | €248 | -€300 | -54.7% |
| Profit (loss) for the period | 9904 | €34,561 | -€56,805 | -€91,367 | |
| Transfer from tax-exempt reserves | 789 | €19,582 | €19,582 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,144 | -€37,223 | -€91,367 |
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 24 October 2026 via checked.be.