IMMO ENVAN: 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 ENVAN
Largest movements
- Tangible fixed assets -€73,219
down €73,219 (-19.9%), from €367,343 to €294,124
- Receivables within one year +€10,000
up €10,000 (+3.6%), from €274,000 to €284,000
of which Trade receivables: +€24,000
- Debts after one year -€46,674
down €46,674 (-15.8%), from €295,051 to €248,377
- Reserves -€34,734
down €34,734 (-22.5%), from €154,668 to €119,935
of which Tax-exempt reserves: -€34,734
- Profit (loss) carried forward +€29,452
up €29,452 (+43.6%), from -€67,525 to -€38,073
- Provisions -€11,578
down €11,578 (-25.0%), from €46,312 to €34,734
- Financial charges -€2,612
down €2,612 (-13.0%), from €20,081 to €17,469
- Gross operating margin -€2,108
down €2,108 (-2.4%), from €86,636 to €84,528
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 | €647,851 | €581,162 | -€66,688 | -10.3% |
| Fixed assets | 21/28 | €367,343 | €294,124 | -€73,219 | -19.9% |
| Tangible fixed assets | 22/27 | €367,343 | €294,124 | -€73,219 | -19.9% |
| Land and buildings | 22 | €367,343 | €294,124 | -€73,219 | -19.9% |
| Current assets | 29/58 | €280,508 | €287,038 | +€6,530 | +2.3% |
| Amounts receivable within one year | 40/41 | €274,000 | €284,000 | +€10,000 | +3.6% |
| Trade receivables | 40 | €154,000 | €178,000 | +€24,000 | +15.6% |
| Other amounts receivable | 41 | €120,000 | €106,000 | -€14,000 | -11.7% |
| Cash at bank and in hand | 54/58 | €6,508 | €3,038 | -€3,470 | -53.3% |
| Total equity and liabilities | 10/49 | €647,851 | €581,162 | -€66,688 | -10.3% |
| Equity | 10/15 | €186,344 | €181,062 | -€5,282 | -2.8% |
| Contributions | 10/11 | €99,200 | €99,200 | = | 0.0% |
| Capital | 10 | €99,200 | €99,200 | = | 0.0% |
| Issued capital | 100 | €99,200 | €99,200 | = | 0.0% |
| Reserves | 13 | €154,668 | €119,935 | -€34,734 | -22.5% |
| Non-distributable reserves | 130/1 | €9,920 | €9,920 | = | 0.0% |
| Legal reserve | 130 | €9,920 | €9,920 | = | 0.0% |
| Tax-exempt reserves | 132 | €138,935 | €104,201 | -€34,734 | -25.0% |
| Distributable reserves | 133 | €5,814 | €5,814 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,525 | -€38,073 | +€29,452 | +43.6% |
| Provisions and deferred taxes | 16 | €46,312 | €34,734 | -€11,578 | -25.0% |
| Deferred taxes | 168 | €46,312 | €34,734 | -€11,578 | -25.0% |
| Amounts payable | 17/49 | €415,195 | €365,367 | -€49,829 | -12.0% |
| Amounts payable after more than one year | 17 | €295,051 | €248,377 | -€46,674 | -15.8% |
| Financial debts | 170/4 | €295,051 | €248,377 | -€46,674 | -15.8% |
| Amounts payable within one year | 42/48 | €108,481 | €106,790 | -€1,691 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €44,607 | €46,674 | +€2,067 | +4.6% |
| Trade debts | 44 | €1,540 | €1,147 | -€393 | -25.5% |
| Suppliers | 440/4 | €1,540 | €1,147 | -€393 | -25.5% |
| Taxes, remuneration and social security | 45 | €497 | €479 | -€17 | -3.5% |
| Taxes | 450/3 | €497 | €479 | -€17 | -3.5% |
| Other amounts payable | 47/48 | €61,837 | €58,490 | -€3,347 | -5.4% |
| Accrued charges and deferred income | 492/3 | €11,664 | €10,200 | -€1,464 | -12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,072 | €73,219 | +€146 | +0.2% |
| Other operating charges | 640/8 | €10,203 | €10,717 | +€514 | +5.0% |
| Gross operating margin | 9900 | €86,636 | €84,528 | -€2,108 | -2.4% |
| Operating profit (loss) | 9901 | €3,361 | €592 | -€2,768 | -82.4% |
| Financial income | 75/76B | €8 | €20 | +€12 | +140.1% |
| Recurring financial income | 75 | €8 | €20 | +€12 | +140.1% |
| Financial charges | 65/66B | €20,081 | €17,469 | -€2,612 | -13.0% |
| Recurring financial charges | 65 | €20,081 | €17,469 | -€2,612 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€16,712 | -€16,856 | -€145 | -0.9% |
| Transfer from deferred taxes | 780 | €11,578 | €11,578 | = | 0.0% |
| Income taxes | 67/77 | €2 | €3 | +€1 | +33.7% |
| Profit (loss) for the period | 9904 | -€5,136 | -€5,282 | -€146 | -2.8% |
| Transfer from tax-exempt reserves | 789 | €34,734 | €34,734 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,597 | €29,452 | -€146 | -0.5% |
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 6 October 2026 via checked.be.