IMMO FLIEBERG: 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 FLIEBERG
Largest movements
- Tangible fixed assets -€106,621
down €106,621 (-6.1%), from €1.7m to €1.6m
of which Land and buildings: -€124,769
- Debts after one year -€146,443
down €146,443 (-28.3%), from €518,170 to €371,727
of which Financial debts: -€148,272
- Other debts +€69,295
up €69,295 (+9.1%), from €757,814 to €827,109
- Financial charges -€11,622
down €11,622 (-46.5%), from €24,977 to €13,355
of which Non-recurring financial charges: -€24,977
- Depreciation +€8,095
up €8,095 (+12.4%), from €65,306 to €73,401
- Other operating charges +€3,021
up €3,021 (+21.2%), from €14,274 to €17,295
- Gross operating margin -€2,198
down €2,198 (-2.1%), from €105,536 to €103,338
From the 2023 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.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,778,529 | €1,670,404 | -€108,125 | -6.1% |
| Fixed assets | 21/28 | €1,739,951 | €1,633,330 | -€106,621 | -6.1% |
| Tangible fixed assets | 22/27 | €1,739,926 | €1,633,305 | -€106,621 | -6.1% |
| Land and buildings | 22 | €1,679,331 | €1,554,562 | -€124,769 | -7.4% |
| Plant, machinery and equipment | 23 | €544 | - | -€544 | |
| Furniture and vehicles | 24 | €2,078 | €693 | -€1,385 | -66.7% |
| Other tangible fixed assets | 26 | €57,973 | €78,050 | +€20,077 | +34.6% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €38,578 | €37,074 | -€1,504 | -3.9% |
| Cash at bank and in hand | 54/58 | €38,578 | €37,074 | -€1,504 | -3.9% |
| Total equity and liabilities | 10/49 | €1,778,529 | €1,670,404 | -€108,125 | -6.1% |
| Equity | 10/15 | €417,748 | €414,448 | -€3,300 | -0.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €172,041 | €172,041 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,556 | €11,556 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,556 | €11,556 | = | 0.0% |
| Distributable reserves | 133 | €160,485 | €160,485 | = | 0.0% |
| Profit (loss) carried forward | 14 | €225,707 | €222,407 | -€3,300 | -1.5% |
| Amounts payable | 17/49 | €1,360,781 | €1,255,956 | -€104,825 | -7.7% |
| Amounts payable after more than one year | 17 | €518,170 | €371,727 | -€146,443 | -28.3% |
| Financial debts | 170/4 | €518,170 | €369,898 | -€148,272 | -28.6% |
| Other amounts payable | 178/9 | - | €1,829 | +€1,829 | |
| Amounts payable within one year | 42/48 | €842,611 | €884,229 | +€41,618 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €73,282 | €57,120 | -€16,162 | -22.1% |
| Taxes, remuneration and social security | 45 | €11,515 | - | -€11,515 | |
| Taxes | 450/3 | €11,515 | - | -€11,515 | |
| Other amounts payable | 47/48 | €757,814 | €827,109 | +€69,295 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,306 | €73,401 | +€8,095 | +12.4% |
| Other operating charges | 640/8 | €14,274 | €17,295 | +€3,021 | +21.2% |
| Gross operating margin | 9900 | €105,536 | €103,338 | -€2,198 | -2.1% |
| Operating profit (loss) | 9901 | €25,956 | €12,642 | -€13,314 | -51.3% |
| Financial income | 75/76B | - | €79 | +€79 | |
| Recurring financial income | 75 | - | €79 | +€79 | |
| Financial charges | 65/66B | €24,977 | €13,355 | -€11,622 | -46.5% |
| Recurring financial charges | 65 | €24,977 | €13,355 | -€11,622 | -46.5% |
| Non-recurring financial charges | 66B | €24,977 | - | -€24,977 | |
| Profit (loss) for the period before taxes | 9903 | €979 | -€634 | -€1,613 | |
| Income taxes | 67/77 | €331 | €298 | -€33 | -10.0% |
| Profit (loss) for the period | 9904 | €648 | -€932 | -€1,580 | |
| Profit (loss) for the period to be appropriated | 9905 | €648 | -€932 | -€1,580 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 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.