IMMO DUSSART: 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 DUSSART
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€74,163
2024 · -€67,109-€7,054
Equity
€249,798
2024 · €323,961-€74,163
Cash
€13,964
2024 · €8,646+€5,318
Balance sheet total
€2.3m
2024 · €2.4m-€167,119
Largest movements
Assets
- Tangible fixed assets -€74,173
down €74,173 (-4.0%), from €1.8m to €1.8m
of which Land and buildings: -€66,832
- Receivables after one year -€69,146
down €69,146 (-21.3%), from €324,901 to €255,755
- Intangible fixed assets -€31,544
down €31,544 (-15.8%), from €200,065 to €168,520
Equity and liabilities
- Debts after one year -€96,480
down €96,480 (-5.4%), from €1.8m to €1.7m
of which Financial debts: -€76,176
- Reserves -€59,975
down €59,975 (-8.5%), from €709,326 to €649,350
of which Tax-exempt reserves: -€59,975
Income statement
- Staff costs +€11,543
up €11,543 (+55.1%), from €20,963 to €32,507
- Gross operating margin -€6,927
down €6,927 (-6.5%), from €106,922 to €99,995
- Financial charges -€4,513
down €4,513 (-13.3%), from €33,851 to €29,338
- Depreciation -€2,130
down €2,130 (-1.9%), from €110,672 to €108,542
- Other operating charges +€1,603
up €1,603 (+13.5%), from €11,870 to €13,474
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
-€67,109
Gross operating margin
-€6,927
Staff costs
-€11,543
Depreciation
+€2,130
Other operating charges
-€1,603
Other operating items
+€2,206
Financial income
+€104
Financial charges
+€4,513
Taxes
+€55
Deferred taxes and other
+€4,012
Result 2025
-€74,163
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
+€95,915
Investment
-€2,825
Financing
-€87,772
Cash 2024
€8,646
From operations (derived)
+€95,915
Net result for the year
-€74,163
Depreciation
+€108,542
Receivables after one year
+€69,146
Receivables within one year
-€3,617
Deferred charges and accrued income
+€1,191
Provisions
-€9,633
Trade debts
-€4,958
Tax, wage and social debts
+€6,205
Accrued charges and deferred income
+€3,202
Investment (derived)
-€2,825
Investment in fixed assets (net)
-€2,825
Financing
-€87,772
Debts after one year
-€96,480
Current portion of long-term debt
+€8,708
Cash 2025
€13,964
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,419,887 | €2,252,768 | -€167,119 | -6.9% |
| Fixed assets | 21/28 | €2,036,685 | €1,930,967 | -€105,718 | -5.2% |
| Intangible fixed assets | 21 | €200,065 | €168,520 | -€31,544 | -15.8% |
| Tangible fixed assets | 22/27 | €1,831,688 | €1,757,514 | -€74,173 | -4.0% |
| Land and buildings | 22 | €1,812,599 | €1,745,766 | -€66,832 | -3.7% |
| Plant, machinery and equipment | 23 | €3,790 | €3,265 | -€526 | -13.9% |
| Furniture and vehicles | 24 | €15,299 | €8,483 | -€6,816 | -44.6% |
| Financial fixed assets | 28 | €4,933 | €4,933 | = | 0.0% |
| Current assets | 29/58 | €383,202 | €321,801 | -€61,401 | -16.0% |
| Amounts receivable after more than one year | 29 | €324,901 | €255,755 | -€69,146 | -21.3% |
| Other amounts receivable | 291 | €324,901 | €255,755 | -€69,146 | -21.3% |
| Amounts receivable within one year | 40/41 | €46,125 | €49,742 | +€3,617 | +7.8% |
| Trade receivables | 40 | €36,285 | €31,917 | -€4,369 | -12.0% |
| Other amounts receivable | 41 | €9,839 | €17,825 | +€7,986 | +81.2% |
| Cash at bank and in hand | 54/58 | €8,646 | €13,964 | +€5,318 | +61.5% |
| Deferred charges and accrued income | 490/1 | €3,530 | €2,339 | -€1,191 | -33.7% |
| Total equity and liabilities | 10/49 | €2,419,887 | €2,252,768 | -€167,119 | -6.9% |
| Equity | 10/15 | €323,961 | €249,798 | -€74,163 | -22.9% |
| Contributions | 10/11 | €74,000 | €74,000 | = | 0.0% |
| Capital | 10 | €74,000 | €74,000 | = | 0.0% |
| Issued capital | 100 | €74,000 | €74,000 | = | 0.0% |
| Reserves | 13 | €709,326 | €649,350 | -€59,975 | -8.5% |
| Non-distributable reserves | 130/1 | €7,400 | €7,400 | = | 0.0% |
| Legal reserve | 130 | €7,400 | €7,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €691,926 | €631,950 | -€59,975 | -8.7% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€459,364 | -€473,552 | -€14,188 | -3.1% |
| Provisions and deferred taxes | 16 | €164,174 | €154,541 | -€9,633 | -5.9% |
| Deferred taxes | 168 | €164,174 | €154,541 | -€9,633 | -5.9% |
| Amounts payable | 17/49 | €1,931,751 | €1,848,430 | -€83,322 | -4.3% |
| Amounts payable after more than one year | 17 | €1,798,097 | €1,701,617 | -€96,480 | -5.4% |
| Financial debts | 170/4 | €1,378,553 | €1,302,377 | -€76,176 | -5.5% |
| Other amounts payable | 178/9 | €419,544 | €399,240 | -€20,304 | -4.8% |
| Amounts payable within one year | 42/48 | €133,654 | €143,610 | +€9,956 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €74,518 | €83,226 | +€8,708 | +11.7% |
| Trade debts | 44 | €50,157 | €45,199 | -€4,958 | -9.9% |
| Suppliers | 440/4 | €50,157 | €45,199 | -€4,958 | -9.9% |
| Taxes, remuneration and social security | 45 | €8,980 | €15,185 | +€6,205 | +69.1% |
| Taxes | 450/3 | €6,565 | €12,886 | +€6,321 | +96.3% |
| Remuneration and social security | 454/9 | €2,416 | €2,299 | -€116 | -4.8% |
| Accrued charges and deferred income | 492/3 | - | €3,202 | +€3,202 | |
| Remuneration, social security and pensions | 62 | €20,963 | €32,507 | +€11,543 | +55.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,672 | €108,542 | -€2,130 | -1.9% |
| Other operating charges | 640/8 | €11,870 | €13,474 | +€1,603 | +13.5% |
| Non-recurring operating charges | 66A | €2,206 | - | -€2,206 | |
| Gross operating margin | 9900 | €106,922 | €99,995 | -€6,927 | -6.5% |
| Operating profit (loss) | 9901 | -€38,790 | -€54,528 | -€15,738 | -40.6% |
| Financial income | 75/76B | - | €104 | +€104 | |
| Recurring financial income | 75 | - | €104 | +€104 | |
| Financial charges | 65/66B | €33,851 | €29,338 | -€4,513 | -13.3% |
| Recurring financial charges | 65 | €33,851 | €29,338 | -€4,513 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | -€72,641 | -€83,762 | -€11,121 | -15.3% |
| Transfer from deferred taxes | 780 | €5,621 | €9,633 | +€4,012 | +71.4% |
| Income taxes | 67/77 | €90 | €35 | -€55 | -61.3% |
| Profit (loss) for the period | 9904 | -€67,109 | -€74,163 | -€7,054 | -10.5% |
| Transfer from tax-exempt reserves | 789 | €47,940 | €59,975 | +€12,036 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,169 | -€14,188 | +€4,981 | +26.0% |
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 29 October 2026 via checked.be.