IMMO DZ: 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 DZ
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+15.0%), from €7.4m to €8.5m
of which Land and buildings: +€846,643
- Debts after one year +€399,128
up €399,128 (+6.4%), from €6.2m to €6.6m
of which Financial debts: +€399,128
- Reserves +€345,000
new in 2025: €345,000
- Other debts +€176,241
up €176,241 (+431.7%), from €40,828 to €217,070
- Gross operating margin +€525,727
up €525,727 (+94.0%), from €558,995 to €1.1m
- Depreciation +€189,889
up €189,889 (+79.1%), from €240,115 to €430,004
- Financial charges +€61,081
up €61,081 (+46.2%), from €132,163 to €193,244
- Write-downs +€40,200
new in 2025: €40,200
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 | €7,783,168 | €8,893,802 | +€1.1m | +14.3% |
| Fixed assets | 21/28 | €7,441,965 | €8,551,739 | +€1.1m | +14.9% |
| Tangible fixed assets | 22/27 | €7,403,815 | €8,513,589 | +€1.1m | +15.0% |
| Land and buildings | 22 | €7,403,815 | €8,250,457 | +€846,643 | +11.4% |
| Plant, machinery and equipment | 23 | - | €263,132 | +€263,132 | |
| Financial fixed assets | 28 | €38,150 | €38,150 | = | 0.0% |
| Current assets | 29/58 | €341,204 | €342,062 | +€859 | +0.3% |
| Amounts receivable within one year | 40/41 | €337,407 | €275,070 | -€62,338 | -18.5% |
| Trade receivables | 40 | €134,143 | €202,673 | +€68,530 | +51.1% |
| Other amounts receivable | 41 | €203,265 | €72,397 | -€130,868 | -64.4% |
| Cash at bank and in hand | 54/58 | €3,796 | €66,993 | +€63,196 | +1664.7% |
| Total equity and liabilities | 10/49 | €7,783,168 | €8,893,802 | +€1.1m | +14.3% |
| Equity | 10/15 | €795,700 | €1,164,430 | +€368,730 | +46.3% |
| Contributions | 10/11 | €818,600 | €818,600 | = | 0.0% |
| Reserves | 13 | - | €345,000 | +€345,000 | |
| Distributable reserves | 133 | - | €345,000 | +€345,000 | |
| Profit (loss) carried forward | 14 | -€22,900 | €830 | +€23,730 | |
| Amounts payable | 17/49 | €6,987,468 | €7,729,372 | +€741,903 | +10.6% |
| Amounts payable after more than one year | 17 | €6,188,388 | €6,587,516 | +€399,128 | +6.4% |
| Financial debts | 170/4 | €6,179,088 | €6,578,216 | +€399,128 | +6.5% |
| Other amounts payable | 178/9 | €9,300 | €9,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €799,080 | €1,101,580 | +€302,500 | +37.9% |
| Current portion of amounts payable after more than one year | 42 | €303,396 | €379,686 | +€76,290 | +25.1% |
| Trade debts | 44 | €423,563 | €503,971 | +€80,408 | +19.0% |
| Suppliers | 440/4 | €423,563 | €503,971 | +€80,408 | +19.0% |
| Taxes, remuneration and social security | 45 | €31,292 | €854 | -€30,438 | -97.3% |
| Taxes | 450/3 | €31,292 | €854 | -€30,438 | -97.3% |
| Other amounts payable | 47/48 | €40,828 | €217,070 | +€176,241 | +431.7% |
| Accrued charges and deferred income | 492/3 | - | €40,275 | +€40,275 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €240,115 | €430,004 | +€189,889 | +79.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €40,200 | +€40,200 | |
| Other operating charges | 640/8 | €48,900 | €52,667 | +€3,767 | +7.7% |
| Gross operating margin | 9900 | €558,995 | €1,084,721 | +€525,727 | +94.0% |
| Operating profit (loss) | 9901 | €269,979 | €561,850 | +€291,871 | +108.1% |
| Financial income | 75/76B | €724 | €124 | -€600 | -82.9% |
| Recurring financial income | 75 | €724 | €124 | -€600 | -82.9% |
| Financial charges | 65/66B | €132,163 | €193,244 | +€61,081 | +46.2% |
| Recurring financial charges | 65 | €132,163 | €193,244 | +€61,081 | +46.2% |
| Profit (loss) for the period before taxes | 9903 | €138,540 | €368,730 | +€230,190 | +166.2% |
| Profit (loss) for the period | 9904 | €138,540 | €368,730 | +€230,190 | +166.2% |
| Profit (loss) for the period to be appropriated | 9905 | €138,540 | €368,730 | +€230,190 | +166.2% |
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.