IMMO FERHAZ: 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 FERHAZ
Largest movements
- Tangible fixed assets +€58,839
up €58,839 (+9.6%), from €615,993 to €674,832
of which Assets under construction and advance payments: +€76,852
- Receivables within one year -€39,020
no longer reported in 2025 (was €39,020)
- Debts after one year +€27,974
up €27,974 (+4.6%), from €613,875 to €641,849
- Profit (loss) carried forward -€13,856
down €13,856 (-63.3%), from -€21,876 to -€35,732
- Trade debts +€9,905
up €9,905 (+175.7%), from €5,637 to €15,542
- Purchases and services +€9,026
up €9,026 (+302.5%), from €2,984 to €12,010
- Other operating charges +€2,241
up €2,241 (+46.9%), from €4,782 to €7,023
- Gross operating margin -€1,670
down €1,670 (-5.6%), from €30,011 to €28,341
- Financial charges -€1,172
down €1,172 (-6.4%), from €18,331 to €17,159
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 | €656,105 | €674,847 | +€18,742 | +2.9% |
| Fixed assets | 21/28 | €615,993 | €674,832 | +€58,839 | +9.6% |
| Tangible fixed assets | 22/27 | €615,993 | €674,832 | +€58,839 | +9.6% |
| Land and buildings | 22 | €615,993 | €597,979 | -€18,014 | -2.9% |
| Assets under construction and advance payments | 27 | - | €76,852 | +€76,852 | |
| Current assets | 29/58 | €40,112 | €16 | -€40,096 | -100.0% |
| Amounts receivable within one year | 40/41 | €39,020 | - | -€39,020 | |
| Trade receivables | 40 | €39,020 | - | -€39,020 | |
| Cash at bank and in hand | 54/58 | €1,092 | €16 | -€1,076 | -98.6% |
| Total equity and liabilities | 10/49 | €656,105 | €674,847 | +€18,742 | +2.9% |
| Equity | 10/15 | -€1,876 | -€15,732 | -€13,856 | -738.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,876 | -€35,732 | -€13,856 | -63.3% |
| Amounts payable | 17/49 | €657,981 | €690,579 | +€32,598 | +5.0% |
| Amounts payable after more than one year | 17 | €613,875 | €641,849 | +€27,974 | +4.6% |
| Financial debts | 170/4 | €613,875 | €641,849 | +€27,974 | +4.6% |
| Amounts payable within one year | 42/48 | €38,911 | €46,631 | +€7,720 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €26,543 | €27,218 | +€675 | +2.5% |
| Financial debts | 43 | - | €3,871 | +€3,871 | |
| Credit institutions | 430/8 | - | €3,871 | +€3,871 | |
| Trade debts | 44 | €5,637 | €15,542 | +€9,905 | +175.7% |
| Suppliers | 440/4 | €5,637 | €15,542 | +€9,905 | +175.7% |
| Other amounts payable | 47/48 | €6,731 | - | -€6,731 | |
| Accrued charges and deferred income | 492/3 | €5,195 | €2,100 | -€3,095 | -59.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,984 | €12,010 | +€9,026 | +302.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,014 | €18,014 | = | 0.0% |
| Other operating charges | 640/8 | €4,782 | €7,023 | +€2,241 | +46.9% |
| Gross operating margin | 9900 | €30,011 | €28,341 | -€1,670 | -5.6% |
| Operating profit (loss) | 9901 | €7,215 | €3,303 | -€3,912 | -54.2% |
| Financial charges | 65/66B | €18,331 | €17,159 | -€1,172 | -6.4% |
| Recurring financial charges | 65 | €18,331 | €17,159 | -€1,172 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,116 | -€13,856 | -€2,740 | -24.6% |
| Profit (loss) for the period | 9904 | -€11,116 | -€13,856 | -€2,740 | -24.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,116 | -€13,856 | -€2,740 | -24.6% |
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.