IMMO FERDINAND: 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 FERDINAND
Largest movements
- Cash +€62,670
up €62,670 (+28.4%), from €220,884 to €283,554
mainly Receivables within one year (+€37,823) and Depreciation (+€19,747)
- Receivables within one year -€37,823
down €37,823 (-83.4%), from €45,375 to €7,552
- Tangible fixed assets -€19,747
down €19,747 (-8.9%), from €221,317 to €201,569
of which Land and buildings: -€19,747
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€6,324
up €6,324 (+6.3%), from €100,717 to €107,041
- Staff costs +€5,489
up €5,489 (+7.2%), from €76,125 to €81,614
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €487,576 | €492,675 | +€5,100 | +1.0% |
| Fixed assets | 21/28 | €221,317 | €201,569 | -€19,747 | -8.9% |
| Tangible fixed assets | 22/27 | €221,317 | €201,569 | -€19,747 | -8.9% |
| Land and buildings | 22 | €218,838 | €199,091 | -€19,747 | -9.0% |
| Furniture and vehicles | 24 | €2,479 | €2,479 | = | 0.0% |
| Current assets | 29/58 | €266,259 | €291,106 | +€24,847 | +9.3% |
| Amounts receivable within one year | 40/41 | €45,375 | €7,552 | -€37,823 | -83.4% |
| Trade receivables | 40 | €45,375 | €7,552 | -€37,823 | -83.4% |
| Cash at bank and in hand | 54/58 | €220,884 | €283,554 | +€62,670 | +28.4% |
| Total equity and liabilities | 10/49 | €487,576 | €492,675 | +€5,100 | +1.0% |
| Equity | 10/15 | €472,029 | €472,494 | +€465 | +0.1% |
| Contributions | 10/11 | €509,446 | €509,446 | = | 0.0% |
| Capital | 10 | €509,446 | €509,446 | = | 0.0% |
| Issued capital | 100 | €509,446 | €509,446 | = | 0.0% |
| Reserves | 13 | €3,239 | €3,239 | = | 0.0% |
| Non-distributable reserves | 130/1 | €162 | €162 | = | 0.0% |
| Legal reserve | 130 | €162 | €162 | = | 0.0% |
| Distributable reserves | 133 | €3,078 | €3,078 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,656 | -€40,191 | +€465 | +1.1% |
| Amounts payable | 17/49 | €15,547 | €20,182 | +€4,635 | +29.8% |
| Amounts payable within one year | 42/48 | €15,547 | €20,182 | +€4,635 | +29.8% |
| Trade debts | 44 | €1,614 | €2,177 | +€562 | +34.8% |
| Suppliers | 440/4 | €1,614 | €2,177 | +€562 | +34.8% |
| Taxes, remuneration and social security | 45 | €13,933 | €18,005 | +€4,072 | +29.2% |
| Taxes | 450/3 | €5,368 | €7,091 | +€1,723 | +32.1% |
| Remuneration and social security | 454/9 | €8,565 | €10,914 | +€2,350 | +27.4% |
| Remuneration, social security and pensions | 62 | €76,125 | €81,614 | +€5,489 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,097 | €19,747 | -€350 | -1.7% |
| Other operating charges | 640/8 | €4,137 | €4,266 | +€128 | +3.1% |
| Gross operating margin | 9900 | €100,717 | €107,041 | +€6,324 | +6.3% |
| Operating profit (loss) | 9901 | €358 | €1,415 | +€1,057 | +295.2% |
| Financial charges | 65/66B | €541 | €950 | +€409 | +75.6% |
| Recurring financial charges | 65 | €541 | €950 | +€409 | +75.6% |
| Profit (loss) for the period before taxes | 9903 | -€183 | €465 | +€648 | |
| Profit (loss) for the period | 9904 | -€183 | €465 | +€648 | |
| Profit (loss) for the period to be appropriated | 9905 | -€183 | €465 | +€648 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.