IMMO ELLE: 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 ELLE
Largest movements
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Tangible fixed assets -€26,266
down €26,266 (-2.3%), from €1.1m to €1.1m
of which Land and buildings: -€31,791
- Accrued charges and deferred income -€72,690
down €72,690 (-83.8%), from €86,732 to €14,042
- Other debts -€70,734
down €70,734 (-28.5%), from €248,461 to €177,727
- Reserves +€18,613
up €18,613 (+2.4%), from €776,045 to €794,658
of which Distributable reserves: +€35,064
- Tax, wage and social debts +€13,081
up €13,081 (+38.2%), from €34,242 to €47,323
- Depreciation -€105,147
down €105,147 (-73.4%), from €143,177 to €38,030
- Gross operating margin -€81,912
down €81,912 (-80.0%), from €102,355 to €20,444
- Taxes -€72,752
down €72,752, from €33,006 to -€39,746
- Other operating charges -€26,464
down €26,464 (-81.6%), from €32,427 to €5,962
- Financial income -€6,567
down €6,567 (-74.8%), from €8,774 to €2,207
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,291,955 | €1,163,000 | -€128,955 | -10.0% |
| Fixed assets | 21/28 | €1,124,415 | €1,098,240 | -€26,175 | -2.3% |
| Tangible fixed assets | 22/27 | €1,124,165 | €1,097,899 | -€26,266 | -2.3% |
| Land and buildings | 22 | €1,117,346 | €1,085,555 | -€31,791 | -2.8% |
| Furniture and vehicles | 24 | €6,819 | €12,344 | +€5,525 | +81.0% |
| Financial fixed assets | 28 | €250 | €341 | +€91 | +36.3% |
| Current assets | 29/58 | €167,540 | €64,760 | -€102,780 | -61.3% |
| Amounts receivable within one year | 40/41 | €8,903 | €4,522 | -€4,381 | -49.2% |
| Trade receivables | 40 | €8,903 | €4,522 | -€4,381 | -49.2% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €58,023 | €60,238 | +€2,215 | +3.8% |
| Deferred charges and accrued income | 490/1 | €614 | €0 | -€614 | -100% |
| Total equity and liabilities | 10/49 | €1,291,955 | €1,163,000 | -€128,955 | -10.0% |
| Equity | 10/15 | €716,680 | €735,293 | +€18,613 | +2.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €776,045 | €794,658 | +€18,613 | +2.4% |
| Tax-exempt reserves | 132 | €450,808 | €434,357 | -€16,451 | -3.6% |
| Distributable reserves | 133 | €325,236 | €360,301 | +€35,064 | +10.8% |
| Profit (loss) carried forward | 14 | -€65,564 | -€65,564 | = | 0.0% |
| Provisions and deferred taxes | 16 | €150,269 | €144,786 | -€5,484 | -3.6% |
| Deferred taxes | 168 | €150,269 | €144,786 | -€5,484 | -3.6% |
| Amounts payable | 17/49 | €425,006 | €282,921 | -€142,084 | -33.4% |
| Amounts payable after more than one year | 17 | €40,625 | €28,125 | -€12,500 | -30.8% |
| Financial debts | 170/4 | €40,625 | €28,125 | -€12,500 | -30.8% |
| Amounts payable within one year | 42/48 | €297,649 | €240,755 | -€56,894 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €12,500 | €12,500 | = | 0.0% |
| Trade debts | 44 | €2,446 | €3,205 | +€759 | +31.0% |
| Suppliers | 440/4 | €2,446 | €3,205 | +€759 | +31.0% |
| Taxes, remuneration and social security | 45 | €34,242 | €47,323 | +€13,081 | +38.2% |
| Taxes | 450/3 | €34,242 | €47,323 | +€13,081 | +38.2% |
| Other amounts payable | 47/48 | €248,461 | €177,727 | -€70,734 | -28.5% |
| Accrued charges and deferred income | 492/3 | €86,732 | €14,042 | -€72,690 | -83.8% |
| Non-recurring operating income | 76A | €114,384 | €0 | -€114,384 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,177 | €38,030 | -€105,147 | -73.4% |
| Other operating charges | 640/8 | €32,427 | €5,962 | -€26,464 | -81.6% |
| Gross operating margin | 9900 | €102,355 | €20,444 | -€81,912 | -80.0% |
| Operating profit (loss) | 9901 | -€73,248 | -€23,549 | +€49,699 | +67.9% |
| Financial income | 75/76B | €8,774 | €2,207 | -€6,567 | -74.8% |
| Recurring financial income | 75 | €8,774 | €2,207 | -€6,567 | -74.8% |
| Financial charges | 65/66B | €6,110 | €5,275 | -€835 | -13.7% |
| Recurring financial charges | 65 | €6,110 | €5,275 | -€835 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | -€70,584 | -€26,617 | +€43,968 | +62.3% |
| Transfer from deferred taxes | 780 | €42,376 | €5,484 | -€36,892 | -87.1% |
| Income taxes | 67/77 | €33,006 | -€39,746 | -€72,752 | |
| Profit (loss) for the period | 9904 | -€61,214 | €18,613 | +€79,827 | |
| Transfer from tax-exempt reserves | 789 | €386,451 | €16,451 | -€370,000 | -95.7% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €325,236 | €35,064 | -€290,172 | -89.2% |
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 16 October 2026 via checked.be.