IMMO DULO: 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 DULO
Largest movements
- Tangible fixed assets +€29,524
up €29,524 (+6.2%), from €479,617 to €509,140
of which Other tangible fixed assets: +€49,766
- Receivables within one year -€11,877
down €11,877 (-52.6%), from €22,573 to €10,696
of which Other amounts receivable: -€10,465
- Cash -€6,139
down €6,139 (-32.4%), from €18,943 to €12,804
mainly Investment in fixed assets (net) (-€73,062) and Trade debts (-€22,744)
- Trade debts -€22,744
down €22,744 (-85.8%), from €26,520 to €3,776
- Reserves +€20,066
up €20,066 (+18.0%), from €111,661 to €131,727
- Investment grants +€15,390
new in 2025: €15,390
- Debts after one year -€9,777
down €9,777 (-3.9%), from €251,575 to €241,798
- Accrued charges and deferred income +€5,975
up €5,975 (+657.8%), from €908 to €6,884
- Gross operating margin +€43,336
up €43,336 (+122.6%), from €35,349 to €78,685
- Depreciation +€21,890
up €21,890 (+101.1%), from €21,648 to €43,538
- Financial charges +€6,164
up €6,164 (+104.3%), from €5,908 to €12,072
- Other operating charges -€2,839
down €2,839 (-47.2%), from €6,015 to €3,176
- Taxes +€915
up €915, from €0 to €915
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 | €521,549 | €534,432 | +€12,883 | +2.5% |
| Fixed assets | 21/28 | €479,617 | €509,140 | +€29,524 | +6.2% |
| Tangible fixed assets | 22/27 | €479,617 | €509,140 | +€29,524 | +6.2% |
| Land and buildings | 22 | €284,506 | €265,446 | -€19,059 | -6.7% |
| Plant, machinery and equipment | 23 | - | €2,566 | +€2,566 | |
| Furniture and vehicles | 24 | €28,141 | €24,392 | -€3,750 | -13.3% |
| Other tangible fixed assets | 26 | €166,970 | €216,736 | +€49,766 | +29.8% |
| Current assets | 29/58 | €41,932 | €25,292 | -€16,640 | -39.7% |
| Amounts receivable within one year | 40/41 | €22,573 | €10,696 | -€11,877 | -52.6% |
| Trade receivables | 40 | €11,523 | €10,111 | -€1,411 | -12.2% |
| Other amounts receivable | 41 | €11,050 | €585 | -€10,465 | -94.7% |
| Cash at bank and in hand | 54/58 | €18,943 | €12,804 | -€6,139 | -32.4% |
| Deferred charges and accrued income | 490/1 | €417 | €1,792 | +€1,375 | +330.2% |
| Total equity and liabilities | 10/49 | €521,549 | €534,432 | +€12,883 | +2.5% |
| Equity | 10/15 | €130,261 | €165,717 | +€35,456 | +27.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,661 | €131,727 | +€20,066 | +18.0% |
| Distributable reserves | 133 | €111,661 | €131,727 | +€20,066 | +18.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Investment grants | 15 | - | €15,390 | +€15,390 | |
| Provisions and deferred taxes | 16 | - | €5,130 | +€5,130 | |
| Deferred taxes | 168 | - | €5,130 | +€5,130 | |
| Amounts payable | 17/49 | €391,288 | €363,585 | -€27,703 | -7.1% |
| Amounts payable after more than one year | 17 | €251,575 | €241,798 | -€9,777 | -3.9% |
| Financial debts | 170/4 | €251,575 | €241,798 | -€9,777 | -3.9% |
| Amounts payable within one year | 42/48 | €138,804 | €114,903 | -€23,901 | -17.2% |
| Current portion of amounts payable after more than one year | 42 | €9,444 | €9,777 | +€333 | +3.5% |
| Trade debts | 44 | €26,520 | €3,776 | -€22,744 | -85.8% |
| Suppliers | 440/4 | €26,520 | €3,776 | -€22,744 | -85.8% |
| Advances received on contracts in progress | 46 | €1,485 | €0 | -€1,485 | -100.0% |
| Taxes, remuneration and social security | 45 | - | €1,923 | +€1,923 | |
| Taxes | 450/3 | - | €1,923 | +€1,923 | |
| Other amounts payable | 47/48 | €101,355 | €99,427 | -€1,928 | -1.9% |
| Accrued charges and deferred income | 492/3 | €908 | €6,884 | +€5,975 | +657.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,648 | €43,538 | +€21,890 | +101.1% |
| Other operating charges | 640/8 | €6,015 | €3,176 | -€2,839 | -47.2% |
| Gross operating margin | 9900 | €35,349 | €78,685 | +€43,336 | +122.6% |
| Operating profit (loss) | 9901 | €7,686 | €31,971 | +€24,285 | +315.9% |
| Financial income | 75/76B | €0 | €813 | +€813 | +4064700.0% |
| Recurring financial income | 75 | €0 | €813 | +€813 | +4064700.0% |
| Financial charges | 65/66B | €5,908 | €12,072 | +€6,164 | +104.3% |
| Recurring financial charges | 65 | €5,908 | €12,072 | +€6,164 | +104.3% |
| Profit (loss) for the period before taxes | 9903 | €1,778 | €20,712 | +€18,934 | +1064.8% |
| Transfer from deferred taxes | 780 | - | €270 | +€270 | |
| Income taxes | 67/77 | €0 | €915 | +€915 | |
| Profit (loss) for the period | 9904 | €1,778 | €20,066 | +€18,288 | +1028.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,778 | €20,066 | +€18,288 | +1028.5% |
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 3 October 2026 via checked.be.