IMMO DUSART: 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 DUSART
Largest movements
- Receivables within one year -€166,977
down €166,977 (-28.7%), from €581,621 to €414,644
of which Other amounts receivable: -€167,385
- Cash +€44,160
up €44,160 (+475.6%), from €9,285 to €53,445
mainly Receivables within one year (+€166,977) and Depreciation (+€71,834)
- Debts after one year -€152,753
down €152,753 (-14.4%), from €1.1m to €905,982
- Current portion of long-term debt +€54,778
up €54,778 (+73.9%), from €74,117 to €128,895
- Reserves -€49,179
down €49,179 (-7.6%), from €651,230 to €602,050
of which Distributable reserves: -€35,747
- Gross operating margin -€20,085
down €20,085 (-15.4%), from €130,666 to €110,582
- Financial charges -€4,149
down €4,149 (-10.9%), from €38,058 to €33,909
- Depreciation +€1,509
up €1,509 (+2.1%), from €70,325 to €71,834
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 | €1,909,833 | €1,759,652 | -€150,181 | -7.9% |
| Fixed assets | 21/28 | €1,196,677 | €1,181,481 | -€15,196 | -1.3% |
| Tangible fixed assets | 22/27 | €1,196,677 | €1,181,481 | -€15,196 | -1.3% |
| Land and buildings | 22 | €1,196,677 | €1,181,481 | -€15,196 | -1.3% |
| Current assets | 29/58 | €713,155 | €578,171 | -€134,985 | -18.9% |
| Amounts receivable within one year | 40/41 | €581,621 | €414,644 | -€166,977 | -28.7% |
| Trade receivables | 40 | €10,635 | €11,043 | +€408 | +3.8% |
| Other amounts receivable | 41 | €570,986 | €403,601 | -€167,385 | -29.3% |
| Current investments | 50/53 | €120,604 | €108,454 | -€12,151 | -10.1% |
| Cash at bank and in hand | 54/58 | €9,285 | €53,445 | +€44,160 | +475.6% |
| Deferred charges and accrued income | 490/1 | €1,645 | €1,628 | -€17 | -1.0% |
| Total equity and liabilities | 10/49 | €1,909,833 | €1,759,652 | -€150,181 | -7.9% |
| Equity | 10/15 | €657,430 | €608,250 | -€49,179 | -7.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €651,230 | €602,050 | -€49,179 | -7.6% |
| Tax-exempt reserves | 132 | €220,579 | €207,147 | -€13,433 | -6.1% |
| Distributable reserves | 133 | €430,651 | €394,904 | -€35,747 | -8.3% |
| Provisions and deferred taxes | 16 | €71,609 | €69,049 | -€2,560 | -3.6% |
| Deferred taxes | 168 | €71,609 | €69,049 | -€2,560 | -3.6% |
| Amounts payable | 17/49 | €1,180,793 | €1,082,353 | -€98,441 | -8.3% |
| Amounts payable after more than one year | 17 | €1,058,735 | €905,982 | -€152,753 | -14.4% |
| Financial debts | 170/4 | €1,058,735 | €905,982 | -€152,753 | -14.4% |
| Amounts payable within one year | 42/48 | €122,059 | €176,371 | +€54,312 | +44.5% |
| Current portion of amounts payable after more than one year | 42 | €74,117 | €128,895 | +€54,778 | +73.9% |
| Trade debts | 44 | €1,079 | €3,419 | +€2,340 | +216.9% |
| Suppliers | 440/4 | €1,079 | €3,419 | +€2,340 | +216.9% |
| Taxes, remuneration and social security | 45 | - | €474 | +€474 | |
| Taxes | 450/3 | - | €474 | +€474 | |
| Other amounts payable | 47/48 | €46,863 | €43,583 | -€3,279 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,325 | €71,834 | +€1,509 | +2.1% |
| Other operating charges | 640/8 | €7,364 | €7,594 | +€229 | +3.1% |
| Gross operating margin | 9900 | €130,666 | €110,582 | -€20,085 | -15.4% |
| Operating profit (loss) | 9901 | €52,977 | €31,154 | -€21,823 | -41.2% |
| Financial income | 75/76B | €2,884 | €2,222 | -€662 | -23.0% |
| Recurring financial income | 75 | €2,884 | €2,222 | -€662 | -23.0% |
| Financial charges | 65/66B | €38,058 | €33,909 | -€4,149 | -10.9% |
| Recurring financial charges | 65 | €38,058 | €33,909 | -€4,149 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €17,803 | -€533 | -€18,336 | |
| Transfer from deferred taxes | 780 | €5,436 | €2,560 | -€2,876 | -52.9% |
| Income taxes | 67/77 | €3,727 | €3,632 | -€95 | -2.5% |
| Profit (loss) for the period | 9904 | €19,512 | -€1,604 | -€21,117 | |
| Transfer from tax-exempt reserves | 789 | €10,557 | €13,433 | +€2,876 | +27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,069 | €11,828 | -€18,241 | -60.7% |
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 11 October 2026 via checked.be.