Immo Emanuel: 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 Emanuel
Largest movements
- Tangible fixed assets -€17,765
down €17,765 (-17.6%), from €100,668 to €82,903
- Cash +€6,819
up €6,819 (+13.9%), from €49,183 to €56,002
mainly Depreciation (+€17,765) and Net result for the year (+€2,473)
- Debts after one year -€19,423
down €19,423 (-19.9%), from €97,807 to €78,385
- Profit (loss) carried forward +€2,473
up €2,473 (+43.7%), from €5,666 to €8,140
- Trade debts +€2,228
up €2,228 (+207.6%), from €1,073 to €3,301
- Other debts +€2,100
up €2,100 (+36.7%), from €5,723 to €7,823
- Gross operating margin +€2,000
up €2,000 (+7.4%), from €26,998 to €28,997
- Taxes +€864
up €864 (+2390.0%), from €36 to €900
- Financial charges -€795
down €795 (-14.8%), from €5,380 to €4,585
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 | €149,901 | €138,955 | -€10,946 | -7.3% |
| Fixed assets | 21/28 | €100,718 | €82,953 | -€17,765 | -17.6% |
| Tangible fixed assets | 22/27 | €100,668 | €82,903 | -€17,765 | -17.6% |
| Land and buildings | 22 | €100,668 | €82,903 | -€17,765 | -17.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €49,183 | €56,002 | +€6,819 | +13.9% |
| Cash at bank and in hand | 54/58 | €49,183 | €56,002 | +€6,819 | +13.9% |
| Total equity and liabilities | 10/49 | €149,901 | €138,955 | -€10,946 | -7.3% |
| Equity | 10/15 | €26,614 | €29,088 | +€2,473 | +9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,348 | €2,348 | = | 0.0% |
| Distributable reserves | 133 | €2,348 | €2,348 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,666 | €8,140 | +€2,473 | +43.7% |
| Amounts payable | 17/49 | €123,287 | €109,867 | -€13,419 | -10.9% |
| Amounts payable after more than one year | 17 | €97,807 | €78,385 | -€19,423 | -19.9% |
| Financial debts | 170/4 | €97,807 | €78,385 | -€19,423 | -19.9% |
| Amounts payable within one year | 42/48 | €25,479 | €31,483 | +€6,003 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €18,648 | €19,423 | +€775 | +4.2% |
| Trade debts | 44 | €1,073 | €3,301 | +€2,228 | +207.6% |
| Suppliers | 440/4 | €1,073 | €3,301 | +€2,228 | +207.6% |
| Taxes, remuneration and social security | 45 | €36 | €937 | +€900 | +2490.0% |
| Taxes | 450/3 | €36 | €937 | +€900 | +2490.0% |
| Other amounts payable | 47/48 | €5,723 | €7,823 | +€2,100 | +36.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,765 | €17,765 | = | 0.0% |
| Other operating charges | 640/8 | €3,173 | €3,273 | +€100 | +3.1% |
| Gross operating margin | 9900 | €26,998 | €28,997 | +€2,000 | +7.4% |
| Operating profit (loss) | 9901 | €6,059 | €7,959 | +€1,900 | +31.3% |
| Financial charges | 65/66B | €5,380 | €4,585 | -€795 | -14.8% |
| Recurring financial charges | 65 | €5,380 | €4,585 | -€795 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €679 | €3,374 | +€2,695 | +396.8% |
| Income taxes | 67/77 | €36 | €900 | +€864 | +2390.0% |
| Profit (loss) for the period | 9904 | €643 | €2,473 | +€1,831 | +284.7% |
| Profit (loss) for the period to be appropriated | 9905 | €643 | €2,473 | +€1,831 | +284.7% |
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 4 October 2026 via checked.be.