IMMO FIRO: 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 FIRO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€882,056
2024 · €781,706+€100,350
Equity
€11.2m
2024 · €11.1m+€65,811
Cash
€123,863
2024 · €370,584-€246,722
Balance sheet total
€19.1m
2024 · €19.5m-€413,193
Largest movements
Assets
- Tangible fixed assets -€796,439
down €796,439 (-4.6%), from €17.4m to €16.6m
of which Land and buildings: -€791,678
- Current investments +€650,000
up €650,000 (+50.0%), from €1.3m to €2.0m
- Cash -€246,722
down €246,722 (-66.6%), from €370,584 to €123,863
mainly Contributions, distributions and other (-€816,244) and Current investments (-€650,000)
Equity and liabilities
- Debts after one year -€502,679
down €502,679 (-21.2%), from €2.4m to €1.9m
- Other debts +€252,932
up €252,932 (+5.9%), from €4.3m to €4.5m
Income statement
- Depreciation -€50,676
down €50,676 (-6.0%), from €849,633 to €798,957
- Financial charges -€39,262
down €39,262 (-12.0%), from €326,817 to €287,555
- Taxes -€28,923
down €28,923 (-6.5%), from €443,732 to €414,809
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
€781,706
Gross operating margin
-€7,146
Depreciation
+€50,676
Other operating charges
-€2,023
Financial income
-€196
Financial charges
+€39,262
Taxes
+€28,923
Deferred taxes and other
-€9,147
Result 2025
€882,056
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
+€1.7m
Investment
-€652,518
Financing
-€1.3m
Cash 2024
€370,584
From operations (derived)
+€1.7m
Net result for the year
+€882,056
Depreciation
+€798,957
Receivables within one year
+€37,165
Deferred charges and accrued income
-€17,132
Provisions
-€44,944
Trade debts
+€4,673
Tax, wage and social debts
-€151,318
Other debts
+€252,932
Accrued charges and deferred income
-€41,172
Investment (derived)
-€652,518
Investment in fixed assets (net)
-€2,518
Current investments
-€650,000
Financing
-€1.3m
Debts after one year
-€502,679
Current portion of long-term debt
+€3,503
Contributions, distributions and other
-€816,244
Cash 2025
€123,863
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,540,132 | €19,126,939 | -€413,193 | -2.1% |
| Fixed assets | 21/28 | €17,366,196 | €16,569,757 | -€796,439 | -4.6% |
| Tangible fixed assets | 22/27 | €17,366,196 | €16,569,757 | -€796,439 | -4.6% |
| Land and buildings | 22 | €17,361,435 | €16,569,757 | -€791,678 | -4.6% |
| Furniture and vehicles | 24 | €4,761 | €0 | -€4,761 | -100% |
| Current assets | 29/58 | €2,173,936 | €2,557,182 | +€383,246 | +17.6% |
| Amounts receivable within one year | 40/41 | €242,602 | €205,437 | -€37,165 | -15.3% |
| Other amounts receivable | 41 | €242,602 | €205,437 | -€37,165 | -15.3% |
| Current investments | 50/53 | €1,300,000 | €1,950,000 | +€650,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €370,584 | €123,863 | -€246,722 | -66.6% |
| Deferred charges and accrued income | 490/1 | €260,750 | €277,882 | +€17,132 | +6.6% |
| Total equity and liabilities | 10/49 | €19,540,132 | €19,126,939 | -€413,193 | -2.1% |
| Equity | 10/15 | €11,106,230 | €11,172,041 | +€65,811 | +0.6% |
| Contributions | 10/11 | €62,188 | €62,188 | = | 0.0% |
| Capital | 10 | €62,188 | €62,188 | = | 0.0% |
| Issued capital | 100 | €62,188 | €62,188 | = | 0.0% |
| Reserves | 13 | €11,044,042 | €11,109,853 | +€65,811 | +0.6% |
| Non-distributable reserves | 130/1 | €6,219 | €6,219 | = | 0.0% |
| Legal reserve | 130 | €6,219 | €6,219 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,004,166 | €1,869,334 | -€134,832 | -6.7% |
| Distributable reserves | 133 | €9,033,657 | €9,234,300 | +€200,643 | +2.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €651,615 | €606,671 | -€44,944 | -6.9% |
| Deferred taxes | 168 | €651,615 | €606,671 | -€44,944 | -6.9% |
| Amounts payable | 17/49 | €7,782,287 | €7,348,226 | -€434,061 | -5.6% |
| Amounts payable after more than one year | 17 | €2,376,184 | €1,873,505 | -€502,679 | -21.2% |
| Financial debts | 170/4 | €2,376,184 | €1,873,505 | -€502,679 | -21.2% |
| Amounts payable within one year | 42/48 | €4,987,712 | €5,097,502 | +€109,790 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €499,176 | €502,679 | +€3,503 | +0.7% |
| Trade debts | 44 | €5,270 | €9,943 | +€4,673 | +88.7% |
| Suppliers | 440/4 | €5,270 | €9,943 | +€4,673 | +88.7% |
| Taxes, remuneration and social security | 45 | €206,318 | €55,000 | -€151,318 | -73.3% |
| Taxes | 450/3 | €206,318 | €55,000 | -€151,318 | -73.3% |
| Other amounts payable | 47/48 | €4,276,948 | €4,529,880 | +€252,932 | +5.9% |
| Accrued charges and deferred income | 492/3 | €418,391 | €377,219 | -€41,172 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €849,633 | €798,957 | -€50,676 | -6.0% |
| Other operating charges | 640/8 | €152,541 | €154,564 | +€2,023 | +1.3% |
| Gross operating margin | 9900 | €2,460,530 | €2,453,385 | -€7,146 | -0.3% |
| Operating profit (loss) | 9901 | €1,458,357 | €1,499,864 | +€41,508 | +2.8% |
| Financial income | 75/76B | €39,808 | €39,612 | -€196 | -0.5% |
| Recurring financial income | 75 | €39,808 | €39,612 | -€196 | -0.5% |
| Financial charges | 65/66B | €326,817 | €287,555 | -€39,262 | -12.0% |
| Recurring financial charges | 65 | €326,817 | €287,555 | -€39,262 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €1,171,348 | €1,251,921 | +€80,574 | +6.9% |
| Transfer from deferred taxes | 780 | €54,091 | €44,944 | -€9,147 | -16.9% |
| Income taxes | 67/77 | €443,732 | €414,809 | -€28,923 | -6.5% |
| Profit (loss) for the period | 9904 | €781,706 | €882,056 | +€100,350 | +12.8% |
| Transfer from tax-exempt reserves | 789 | €162,272 | €134,832 | -€27,440 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €943,978 | €1,016,888 | +€72,909 | +7.7% |
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 16 October 2026 via checked.be.