IMMO E.M.: 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 E.M.
Largest movements
- Tangible fixed assets -€21,247
down €21,247 (-3.2%), from €658,770 to €637,523
- Deferred charges and accrued income +€8,852
up €8,852 (+1408.0%), from €629 to €9,481
- Debts after one year -€40,650
down €40,650 (-9.2%), from €440,538 to €399,888
of which Financial debts: -€45,650
- Reserves +€20,320
up €20,320 (+133.7%), from €15,196 to €35,516
of which Distributable reserves: +€20,320
- Other debts +€10,470
up €10,470 (+11.5%), from €91,373 to €101,844
- Gross operating margin +€47,153
up €47,153 (+154.8%), from €30,468 to €77,621
- Other operating charges -€33,548
down €33,548 (-73.5%), from €45,641 to €12,093
- Depreciation +€7,404
up €7,404 (+38.3%), from €19,351 to €26,755
- Financial charges +€6,230
up €6,230 (+53.6%), from €11,631 to €17,861
- Taxes +€2,032
new in 2025: €2,032
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 | €748,875 | €735,610 | -€13,265 | -1.8% |
| Fixed assets | 21/28 | €658,770 | €637,523 | -€21,247 | -3.2% |
| Tangible fixed assets | 22/27 | €658,770 | €637,523 | -€21,247 | -3.2% |
| Land and buildings | 22 | €658,770 | €637,523 | -€21,247 | -3.2% |
| Current assets | 29/58 | €90,105 | €98,087 | +€7,982 | +8.9% |
| Amounts receivable within one year | 40/41 | €79,165 | €73,408 | -€5,758 | -7.3% |
| Other amounts receivable | 41 | €79,165 | €73,408 | -€5,758 | -7.3% |
| Cash at bank and in hand | 54/58 | €10,311 | €15,199 | +€4,888 | +47.4% |
| Deferred charges and accrued income | 490/1 | €629 | €9,481 | +€8,852 | +1408.0% |
| Total equity and liabilities | 10/49 | €748,875 | €735,610 | -€13,265 | -1.8% |
| Equity | 10/15 | €165,196 | €185,516 | +€20,320 | +12.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €15,196 | €35,516 | +€20,320 | +133.7% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €196 | €20,516 | +€20,320 | +10346.5% |
| Amounts payable | 17/49 | €583,679 | €550,094 | -€33,585 | -5.8% |
| Amounts payable after more than one year | 17 | €440,538 | €399,888 | -€40,650 | -9.2% |
| Financial debts | 170/4 | €440,538 | €394,888 | -€45,650 | -10.4% |
| Other amounts payable | 178/9 | - | €5,000 | +€5,000 | |
| Amounts payable within one year | 42/48 | €143,141 | €150,207 | +€7,066 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €44,608 | €45,650 | +€1,043 | +2.3% |
| Trade debts | 44 | €6,811 | €64 | -€6,747 | -99.1% |
| Suppliers | 440/4 | €6,811 | €64 | -€6,747 | -99.1% |
| Taxes, remuneration and social security | 45 | €349 | €2,649 | +€2,300 | +659.2% |
| Taxes | 450/3 | €349 | €2,649 | +€2,300 | +659.2% |
| Other amounts payable | 47/48 | €91,373 | €101,844 | +€10,470 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,351 | €26,755 | +€7,404 | +38.3% |
| Other operating charges | 640/8 | €45,641 | €12,093 | -€33,548 | -73.5% |
| Gross operating margin | 9900 | €30,468 | €77,621 | +€47,153 | +154.8% |
| Operating profit (loss) | 9901 | -€34,523 | €38,774 | +€73,297 | |
| Financial income | 75/76B | €1,411 | €1,439 | +€28 | +2.0% |
| Recurring financial income | 75 | €1,411 | €1,439 | +€28 | +2.0% |
| Financial charges | 65/66B | €11,631 | €17,861 | +€6,230 | +53.6% |
| Recurring financial charges | 65 | €11,631 | €17,861 | +€6,230 | +53.6% |
| Profit (loss) for the period before taxes | 9903 | -€44,743 | €22,351 | +€67,095 | |
| Income taxes | 67/77 | - | €2,032 | +€2,032 | |
| Profit (loss) for the period | 9904 | -€44,743 | €20,320 | +€65,063 | |
| Profit (loss) for the period to be appropriated | 9905 | -€44,743 | €20,320 | +€65,063 |
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 30 September 2026 via checked.be.