IMMO ENCLUS: 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 ENCLUS
Largest movements
- Tangible fixed assets -€26,884
down €26,884 (-2.7%), from €999,564 to €972,680
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€10,183
up €10,183 (+38.1%), from €26,717 to €36,900
- Taxes +€3,330
up €3,330 (+96.0%), from €3,468 to €6,798
- Depreciation +€816
up €816 (+2.3%), from €35,508 to €36,323
- Financial income +€557
up €557 (+4.5%), from €12,351 to €12,908
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 | €1,866,584 | €1,853,725 | -€12,859 | -0.7% |
| Fixed assets | 21/28 | €1,073,932 | €1,047,048 | -€26,884 | -2.5% |
| Tangible fixed assets | 22/27 | €999,564 | €972,680 | -€26,884 | -2.7% |
| Land and buildings | 22 | €999,564 | €972,680 | -€26,884 | -2.7% |
| Financial fixed assets | 28 | €74,368 | €74,368 | = | 0.0% |
| Current assets | 29/58 | €792,652 | €806,677 | +€14,025 | +1.8% |
| Amounts receivable after more than one year | 29 | €400,533 | €410,546 | +€10,013 | +2.5% |
| Trade receivables | 290 | €400,533 | €410,546 | +€10,013 | +2.5% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €182,106 | €185,867 | +€3,761 | +2.1% |
| Deferred charges and accrued income | 490/1 | €10,013 | €10,264 | +€250 | +2.5% |
| Total equity and liabilities | 10/49 | €1,866,584 | €1,853,725 | -€12,859 | -0.7% |
| Equity | 10/15 | €1,654,904 | €1,654,616 | -€288 | 0.0% |
| Contributions | 10/11 | €446,208 | €446,208 | = | 0.0% |
| Capital | 10 | €446,208 | €446,208 | = | 0.0% |
| Issued capital | 100 | €446,208 | €446,208 | = | 0.0% |
| Reserves | 13 | €1,208,696 | €1,208,408 | -€288 | 0.0% |
| Non-distributable reserves | 130/1 | €24,000 | €24,000 | = | 0.0% |
| Legal reserve | 130 | €24,000 | €24,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €584,826 | €571,166 | -€13,660 | -2.3% |
| Distributable reserves | 133 | €599,869 | €613,242 | +€13,372 | +2.2% |
| Amounts payable | 17/49 | €211,680 | €199,109 | -€12,572 | -5.9% |
| Amounts payable after more than one year | 17 | €186,440 | €170,335 | -€16,104 | -8.6% |
| Financial debts | 170/4 | €186,440 | €170,335 | -€16,104 | -8.6% |
| Amounts payable within one year | 42/48 | €25,241 | €28,773 | +€3,533 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €15,912 | €16,104 | +€192 | +1.2% |
| Taxes, remuneration and social security | 45 | €3,060 | €6,401 | +€3,341 | +109.2% |
| Taxes | 450/3 | €3,060 | €6,401 | +€3,341 | +109.2% |
| Other amounts payable | 47/48 | €6,268 | €6,268 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,508 | €36,323 | +€816 | +2.3% |
| Other operating charges | 640/8 | €3,961 | €4,087 | +€126 | +3.2% |
| Gross operating margin | 9900 | €26,717 | €36,900 | +€10,183 | +38.1% |
| Operating profit (loss) | 9901 | -€12,751 | -€3,511 | +€9,241 | +72.5% |
| Financial income | 75/76B | €12,351 | €12,908 | +€557 | +4.5% |
| Recurring financial income | 75 | €12,351 | €12,908 | +€557 | +4.5% |
| Financial charges | 65/66B | €2,786 | €2,887 | +€101 | +3.6% |
| Recurring financial charges | 65 | €2,786 | €2,887 | +€101 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,187 | €6,510 | +€9,697 | |
| Income taxes | 67/77 | €3,468 | €6,798 | +€3,330 | +96.0% |
| Profit (loss) for the period | 9904 | -€6,655 | -€288 | +€6,367 | +95.7% |
| Transfer from tax-exempt reserves | 789 | €13,660 | €13,660 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,005 | €13,372 | +€6,367 | +90.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.