IMMO ETIR: 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 ETIR
Largest movements
- Tangible fixed assets -€115,931
down €115,931 (-6.5%), from €1.8m to €1.7m
of which Land and buildings: -€95,167
- Cash -€67,725
down €67,725 (-99.7%), from €67,902 to €177
mainly Debts after one year (-€65,148) and Receivables within one year (-€62,075)
- Receivables within one year +€62,075
up €62,075 (+12.2%), from €508,042 to €570,116
of which Other amounts receivable: +€50,380
- Debts after one year -€65,148
down €65,148 (-21.0%), from €310,819 to €245,670
of which Financial debts: -€59,747
- Trade debts -€36,777
down €36,777 (-56.6%), from €64,930 to €28,153
- Gross operating margin -€37,858
down €37,858 (-21.9%), from €172,925 to €135,067
- Depreciation -€9,016
down €9,016 (-7.2%), from €124,947 to €115,931
- Financial charges -€7,806
down €7,806 (-40.5%), from €19,265 to €11,459
- Other operating charges -€2,805
down €2,805 (-10.0%), from €27,972 to €25,168
- Taxes +€1,830
up €1,830 (+3660360.0%), from €0 to €1,830
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 | €2,369,682 | €2,246,169 | -€123,513 | -5.2% |
| Fixed assets | 21/28 | €1,785,777 | €1,669,846 | -€115,931 | -6.5% |
| Tangible fixed assets | 22/27 | €1,785,282 | €1,669,351 | -€115,931 | -6.5% |
| Land and buildings | 22 | €1,728,800 | €1,633,633 | -€95,167 | -5.5% |
| Plant, machinery and equipment | 23 | €669 | €0 | -€669 | -100.0% |
| Furniture and vehicles | 24 | €55,813 | €35,718 | -€20,095 | -36.0% |
| Financial fixed assets | 28 | €495 | €495 | = | 0.0% |
| Current assets | 29/58 | €583,905 | €576,323 | -€7,582 | -1.3% |
| Amounts receivable within one year | 40/41 | €508,042 | €570,116 | +€62,075 | +12.2% |
| Trade receivables | 40 | €54,570 | €66,265 | +€11,695 | +21.4% |
| Other amounts receivable | 41 | €453,472 | €503,851 | +€50,380 | +11.1% |
| Cash at bank and in hand | 54/58 | €67,902 | €177 | -€67,725 | -99.7% |
| Deferred charges and accrued income | 490/1 | €7,961 | €6,029 | -€1,932 | -24.3% |
| Total equity and liabilities | 10/49 | €2,369,682 | €2,246,169 | -€123,513 | -5.2% |
| Equity | 10/15 | €1,835,556 | €1,819,493 | -€16,063 | -0.9% |
| Contributions | 10/11 | €1,074,104 | €1,074,104 | = | 0.0% |
| Capital | 10 | €1,074,104 | €1,074,104 | = | 0.0% |
| Issued capital | 100 | €1,074,104 | €1,074,104 | = | 0.0% |
| Reserves | 13 | €761,452 | €745,389 | -€16,063 | -2.1% |
| Non-distributable reserves | 130/1 | €132 | €132 | = | 0.0% |
| Legal reserve | 130 | €132 | €132 | = | 0.0% |
| Distributable reserves | 133 | €761,321 | €745,257 | -€16,063 | -2.1% |
| Amounts payable | 17/49 | €534,126 | €426,676 | -€107,450 | -20.1% |
| Amounts payable after more than one year | 17 | €310,819 | €245,670 | -€65,148 | -21.0% |
| Financial debts | 170/4 | €248,319 | €188,571 | -€59,747 | -24.1% |
| Other amounts payable | 178/9 | €62,500 | €57,099 | -€5,401 | -8.6% |
| Amounts payable within one year | 42/48 | €168,737 | €114,740 | -€53,997 | -32.0% |
| Current portion of amounts payable after more than one year | 42 | €82,138 | €59,747 | -€22,390 | -27.3% |
| Financial debts | 43 | - | €2,807 | +€2,807 | |
| Credit institutions | 430/8 | - | €2,807 | +€2,807 | |
| Trade debts | 44 | €64,930 | €28,153 | -€36,777 | -56.6% |
| Suppliers | 440/4 | €64,930 | €28,153 | -€36,777 | -56.6% |
| Taxes, remuneration and social security | 45 | €63 | €0 | -€63 | -100.0% |
| Taxes | 450/3 | €63 | €0 | -€63 | -100.0% |
| Other amounts payable | 47/48 | €21,606 | €24,033 | +€2,427 | +11.2% |
| Accrued charges and deferred income | 492/3 | €54,570 | €66,265 | +€11,695 | +21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,947 | €115,931 | -€9,016 | -7.2% |
| Other operating charges | 640/8 | €27,972 | €25,168 | -€2,805 | -10.0% |
| Gross operating margin | 9900 | €172,925 | €135,067 | -€37,858 | -21.9% |
| Operating profit (loss) | 9901 | €20,005 | -€6,032 | -€26,037 | |
| Financial income | 75/76B | €1,894 | €3,258 | +€1,364 | +72.0% |
| Recurring financial income | 75 | €1,894 | €3,258 | +€1,364 | +72.0% |
| Financial charges | 65/66B | €19,265 | €11,459 | -€7,806 | -40.5% |
| Recurring financial charges | 65 | €19,265 | €11,459 | -€7,806 | -40.5% |
| Profit (loss) for the period before taxes | 9903 | €2,634 | -€14,233 | -€16,868 | |
| Income taxes | 67/77 | €0 | €1,830 | +€1,830 | +3660360.0% |
| Profit (loss) for the period | 9904 | €2,634 | -€16,063 | -€18,698 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,634 | -€16,063 | -€18,698 |
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 11 October 2026 via checked.be.