IMMO ESCO: 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 ESCO
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€21,212
2024 · €14,334-€35,546
Equity
€3.9m
2024 · €3.9m-€570
Cash
€11,989
2024 · -+€11,989
Balance sheet total
€4.4m
2024 · €4.6m-€134,723
Largest movements
Assets
- Current investments -€304,444
no longer reported in 2025 (was €304,444)
- Receivables after one year +€276,242
up €276,242 (+132%), from €209,770 to €486,012
- Receivables within one year -€111,450
down €111,450 (-62.0%), from €179,681 to €68,231
of which Trade receivables: -€100,458
Equity and liabilities
- Trade debts -€131,451
down €131,451 (-91.4%), from €143,744 to €12,293
- Debts after one year -€55,914
down €55,914 (-12.2%), from €458,425 to €402,511
of which Financial debts: -€54,414
Income statement
- Gross operating margin -€48,131
down €48,131 (-22.3%), from €215,461 to €167,330
- Financial income +€10,647
up €10,647 (+529%), from €2,013 to €12,660
- Financial charges -€4,927
down €4,927 (-26.6%), from €18,491 to €13,564
- Other operating charges +€4,178
up €4,178 (+19.9%), from €20,976 to €25,154
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
€14,334
Gross operating margin
-€48,131
Depreciation
+€1,245
Other operating charges
-€4,178
Other operating items
-€56
Financial income
+€10,647
Financial charges
+€4,927
Result 2025
-€21,212
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
-€96,993
Investment
+€143,821
Financing
-€34,839
Cash 2024
€0
From operations (derived)
-€96,993
Net result for the year
-€21,212
Depreciation
+€162,428
Receivables after one year
-€276,242
Receivables within one year
+€111,450
Deferred charges and accrued income
+€5,255
Trade debts
-€131,451
Advances received
+€21,000
Other debts
+€31,778
Investment (derived)
+€143,821
Investment in fixed assets (net)
-€160,623
Current investments
+€304,444
Financing
-€34,839
Debts after one year
-€55,914
Current portion of long-term debt
-€2,077
Short-term financial debts
+€2,510
Contributions, distributions and other
+€20,642
Cash 2025
€11,989
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,571,603 | €4,436,879 | -€134,723 | -2.9% |
| Fixed assets | 21/28 | €3,868,367 | €3,866,561 | -€1,805 | 0.0% |
| Intangible fixed assets | 21 | - | €4,340 | +€4,340 | |
| Tangible fixed assets | 22/27 | €3,867,902 | €3,853,257 | -€14,645 | -0.4% |
| Land and buildings | 22 | €3,846,949 | €3,810,537 | -€36,412 | -0.9% |
| Plant, machinery and equipment | 23 | €390 | €2,181 | +€1,791 | +460% |
| Furniture and vehicles | 24 | €19,377 | €39,353 | +€19,976 | +103% |
| Assets under construction and advance payments | 27 | €1,186 | €1,186 | = | 0.0% |
| Financial fixed assets | 28 | €465 | €8,965 | +€8,500 | +1,828% |
| Current assets | 29/58 | €703,236 | €570,318 | -€132,918 | -18.9% |
| Amounts receivable after more than one year | 29 | €209,770 | €486,012 | +€276,242 | +132% |
| Trade receivables | 290 | €209,770 | €486,012 | +€276,242 | +132% |
| Amounts receivable within one year | 40/41 | €179,681 | €68,231 | -€111,450 | -62.0% |
| Trade receivables | 40 | €107,553 | €7,095 | -€100,458 | -93.4% |
| Other amounts receivable | 41 | €72,127 | €61,135 | -€10,992 | -15.2% |
| Current investments | 50/53 | €304,444 | - | -€304,444 | |
| Cash at bank and in hand | 54/58 | - | €11,989 | +€11,989 | |
| Deferred charges and accrued income | 490/1 | €9,341 | €4,086 | -€5,255 | -56.3% |
| Total equity and liabilities | 10/49 | €4,571,603 | €4,436,879 | -€134,723 | -2.9% |
| Equity | 10/15 | €3,909,054 | €3,908,484 | -€570 | 0.0% |
| Contributions | 10/11 | €4,216,200 | €4,216,200 | = | 0.0% |
| Capital | 10 | €4,216,200 | €4,216,200 | = | 0.0% |
| Issued capital | 100 | €4,228,600 | €4,228,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€307,146 | -€307,716 | -€570 | -0.2% |
| Amounts payable | 17/49 | €662,548 | €528,395 | -€134,153 | -20.2% |
| Amounts payable after more than one year | 17 | €458,425 | €402,511 | -€55,914 | -12.2% |
| Financial debts | 170/4 | €455,025 | €400,611 | -€54,414 | -12.0% |
| Other amounts payable | 178/9 | €3,400 | €1,900 | -€1,500 | -44.1% |
| Amounts payable within one year | 42/48 | €204,123 | €125,884 | -€78,239 | -38.3% |
| Current portion of amounts payable after more than one year | 42 | €59,173 | €57,096 | -€2,077 | -3.5% |
| Financial debts | 43 | - | €2,510 | +€2,510 | |
| Credit institutions | 430/8 | - | €2,510 | +€2,510 | |
| Trade debts | 44 | €143,744 | €12,293 | -€131,451 | -91.4% |
| Suppliers | 440/4 | €143,744 | €12,293 | -€131,451 | -91.4% |
| Advances received on contracts in progress | 46 | - | €21,000 | +€21,000 | |
| Taxes, remuneration and social security | 45 | €1,207 | €1,207 | = | 0.0% |
| Taxes | 450/3 | €1,207 | €1,207 | = | 0.0% |
| Other amounts payable | 47/48 | - | €31,778 | +€31,778 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,673 | €162,428 | -€1,245 | -0.8% |
| Other operating charges | 640/8 | €20,976 | €25,154 | +€4,178 | +19.9% |
| Non-recurring operating charges | 66A | - | €56 | +€56 | |
| Gross operating margin | 9900 | €215,461 | €167,330 | -€48,131 | -22.3% |
| Operating profit (loss) | 9901 | €30,812 | -€20,308 | -€51,120 | |
| Financial income | 75/76B | €2,013 | €12,660 | +€10,647 | +529% |
| Recurring financial income | 75 | €2,013 | €12,660 | +€10,647 | +529% |
| Financial charges | 65/66B | €18,491 | €13,564 | -€4,927 | -26.6% |
| Recurring financial charges | 65 | €18,491 | €13,564 | -€4,927 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €14,334 | -€21,212 | -€35,546 | |
| Profit (loss) for the period | 9904 | €14,334 | -€21,212 | -€35,546 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,334 | -€21,212 | -€35,546 |
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 14 October 2026 via checked.be.