IMMO EE 59: 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 EE 59
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€414,497
2024 · €84,943+€329,554
Equity
€2.7m
2024 · €2.3m+€418,013
Cash
€449,865
2024 · €369,475+€80,390
Balance sheet total
€8.5m
2024 · €8.6m-€110,489
Largest movements
Assets
- Tangible fixed assets -€201,549
down €201,549 (-2.5%), from €8.1m to €7.9m
of which Land and buildings: -€197,007
Equity and liabilities
- Debts after one year -€1.4m
down €1.4m (-24.3%), from €5.6m to €4.2m
- Reserves +€418,013
up €418,013 (+19.0%), from €2.2m to €2.6m
of which Distributable reserves: +€458,351
- Current portion of long-term debt +€383,333
up €383,333 (+99.6%), from €385,000 to €768,333
- Trade debts +€254,000
new in 2025: €254,000
- Advances received +€250,000
new in 2025: €250,000
Income statement
- Gross operating margin +€425,701
up €425,701 (+48.9%), from €870,556 to €1.3m
- Taxes +€109,653
up €109,653 (+254%), from €43,170 to €152,823
- Depreciation -€26,726
down €26,726 (-6.1%), from €438,400 to €411,674
- Financial charges +€14,208
up €14,208 (+12.1%), from €117,081 to €131,289
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
€84,943
Gross operating margin
+€425,701
Depreciation
+€26,726
Other operating charges
-€528
Financial income
+€1,970
Financial charges
-€14,208
Taxes
-€109,653
Deferred taxes and other
-€454
Result 2025
€414,497
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
+€1.3m
Investment
-€210,125
Financing
-€966,364
Cash 2024
€369,475
From operations (derived)
+€1.3m
Net result for the year
+€414,497
Depreciation
+€411,674
Receivables within one year
-€9,757
Deferred charges and accrued income
-€913
Provisions
-€21,410
Trade debts
+€254,000
Tax, wage and social debts
-€46,425
Advances received
+€250,000
Other debts
-€12,647
Accrued charges and deferred income
+€17,860
Investment (derived)
-€210,125
Investment in fixed assets (net)
-€210,125
Financing
-€966,364
Debts after one year
-€1.4m
Current portion of long-term debt
+€383,333
Short-term financial debts
-€546
Contributions, distributions and other
+€3,516
Cash 2025
€449,865
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,600,947 | €8,490,458 | -€110,489 | -1.3% |
| Fixed assets | 21/28 | €8,118,684 | €7,917,135 | -€201,549 | -2.5% |
| Tangible fixed assets | 22/27 | €8,118,543 | €7,916,994 | -€201,549 | -2.5% |
| Land and buildings | 22 | €8,111,919 | €7,914,912 | -€197,007 | -2.4% |
| Furniture and vehicles | 24 | €6,624 | €2,082 | -€4,542 | -68.6% |
| Financial fixed assets | 28 | €141 | €141 | = | 0.0% |
| Current assets | 29/58 | €482,263 | €573,323 | +€91,060 | +18.9% |
| Amounts receivable within one year | 40/41 | €100,039 | €109,796 | +€9,757 | +9.8% |
| Trade receivables | 40 | €3,000 | €13,000 | +€10,000 | +333% |
| Other amounts receivable | 41 | €97,039 | €96,796 | -€243 | -0.3% |
| Cash at bank and in hand | 54/58 | €369,475 | €449,865 | +€80,390 | +21.8% |
| Deferred charges and accrued income | 490/1 | €12,749 | €13,662 | +€913 | +7.2% |
| Total equity and liabilities | 10/49 | €8,600,947 | €8,490,458 | -€110,489 | -1.3% |
| Equity | 10/15 | €2,259,855 | €2,677,868 | +€418,013 | +18.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €2,198,355 | €2,616,368 | +€418,013 | +19.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €431,040 | €390,702 | -€40,338 | -9.4% |
| Distributable reserves | 133 | €1,761,165 | €2,219,516 | +€458,351 | +26.0% |
| Provisions and deferred taxes | 16 | €242,711 | €221,301 | -€21,410 | -8.8% |
| Deferred taxes | 168 | €242,711 | €221,301 | -€21,410 | -8.8% |
| Amounts payable | 17/49 | €6,098,381 | €5,591,289 | -€507,092 | -8.3% |
| Amounts payable after more than one year | 17 | €5,566,500 | €4,213,833 | -€1.4m | -24.3% |
| Financial debts | 170/4 | €5,566,500 | €4,213,833 | -€1.4m | -24.3% |
| Amounts payable within one year | 42/48 | €503,114 | €1,330,829 | +€827,715 | +165% |
| Current portion of amounts payable after more than one year | 42 | €385,000 | €768,333 | +€383,333 | +99.6% |
| Financial debts | 43 | €38,300 | €37,754 | -€546 | -1.4% |
| Credit institutions | 430/8 | €38,300 | €37,754 | -€546 | -1.4% |
| Trade debts | 44 | - | €254,000 | +€254,000 | |
| Suppliers | 440/4 | - | €254,000 | +€254,000 | |
| Advances received on contracts in progress | 46 | - | €250,000 | +€250,000 | |
| Taxes, remuneration and social security | 45 | €67,167 | €20,742 | -€46,425 | -69.1% |
| Taxes | 450/3 | €67,167 | €20,742 | -€46,425 | -69.1% |
| Other amounts payable | 47/48 | €12,647 | - | -€12,647 | |
| Accrued charges and deferred income | 492/3 | €28,767 | €46,627 | +€17,860 | +62.1% |
| Non-recurring operating income | 76A | - | €90,072 | +€90,072 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €438,400 | €411,674 | -€26,726 | -6.1% |
| Other operating charges | 640/8 | €206,144 | €206,672 | +€528 | +0.3% |
| Gross operating margin | 9900 | €870,556 | €1,296,257 | +€425,701 | +48.9% |
| Operating profit (loss) | 9901 | €226,012 | €677,911 | +€451,899 | +200% |
| Financial income | 75/76B | €832 | €2,802 | +€1,970 | +237% |
| Recurring financial income | 75 | €832 | €2,802 | +€1,970 | +237% |
| Financial charges | 65/66B | €117,081 | €131,289 | +€14,208 | +12.1% |
| Recurring financial charges | 65 | €117,081 | €131,289 | +€14,208 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €109,763 | €549,424 | +€439,661 | +401% |
| Transfer from deferred taxes | 780 | €18,350 | €17,896 | -€454 | -2.5% |
| Income taxes | 67/77 | €43,170 | €152,823 | +€109,653 | +254% |
| Profit (loss) for the period | 9904 | €84,943 | €414,497 | +€329,554 | +388% |
| Transfer from tax-exempt reserves | 789 | €43,853 | €43,853 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €128,796 | €458,350 | +€329,554 | +256% |
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 1 November 2026 via checked.be.