IMMO - FRERES - BANDE: what changed
What changed
IMMO - FRERES - BANDE
filed annual accounts (NBB)
Net result for the year
€3,518
2024 · -€106,014+€109,532
Equity
€318,075
2024 · €314,556+€3,518
Cash
€60,590
2024 · €57,982+€2,607
Balance sheet total
€1.3m
2024 · €1.3m-€80,948
Largest movements
Assets
- Tangible fixed assets -€77,316
down €77,316 (-6.1%), from €1.3m to €1.2m
of which Land and buildings: -€76,033
Equity and liabilities
- Debts after one year -€156,976
down €156,976 (-100%), from €156,976 to €0
- Current portion of long-term debt +€44,976
new in 2025: €44,976
- Trade debts +€26,113
up €26,113 (+1,900%), from €1,375 to €27,488
- Provisions -€18,801
down €18,801 (-21.5%), from €87,644 to €68,843
of which Deferred taxes: -€17,801
- Other debts +€17,241
up €17,241 (+2.2%), from €768,401 to €785,642
Income statement
- Depreciation -€171,377
down €171,377 (-47.2%), from €363,238 to €191,861
- Gross operating margin -€51,408
down €51,408 (-20.6%), from €249,864 to €198,456
- Other operating charges -€10,425
down €10,425 (-36.8%), from €28,346 to €17,921
- Taxes +€3,500
new in 2025: €3,500
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€106,014
Gross operating margin
-€51,408
Depreciation
+€171,377
Provisions
+€1,000
Other operating charges
+€10,425
Financial charges
+€818
Taxes
-€3,500
Deferred taxes and other
-€19,180
Result 2025
€3,518
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€229,152
Investment
-€114,545
Financing
-€112,000
Cash 2024
€57,982
From operations (derived)
+€229,152
Net result for the year
+€3,518
Depreciation
+€191,861
Deferred charges and accrued income
+€6,240
Provisions
-€18,801
Trade debts
+€26,113
Tax, wage and social debts
+€3,500
Other debts
+€17,241
Accrued charges and deferred income
-€520
Investment (derived)
-€114,545
Investment in fixed assets (net)
-€114,545
Financing
-€112,000
Debts after one year
-€156,976
Current portion of long-term debt
+€44,976
Contributions, distributions and other
+€0
Cash 2025
€60,590
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,338,153 | €1,257,204 | -€80,948 | -6.0% |
| Fixed assets | 21/28 | €1,267,585 | €1,190,269 | -€77,316 | -6.1% |
| Tangible fixed assets | 22/27 | €1,267,585 | €1,190,269 | -€77,316 | -6.1% |
| Land and buildings | 22 | €1,264,114 | €1,188,081 | -€76,033 | -6.0% |
| Furniture and vehicles | 24 | €3,471 | €2,188 | -€1,283 | -37.0% |
| Current assets | 29/58 | €70,568 | €66,935 | -€3,633 | -5.1% |
| Current investments | 50/53 | €274 | €274 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €57,982 | €60,590 | +€2,607 | +4.5% |
| Deferred charges and accrued income | 490/1 | €12,312 | €6,072 | -€6,240 | -50.7% |
| Total equity and liabilities | 10/49 | €1,338,153 | €1,257,204 | -€80,948 | -6.0% |
| Equity | 10/15 | €314,556 | €318,075 | +€3,518 | +1.1% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €180,311 | €181,195 | +€884 | +0.5% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €167,811 | €133,695 | -€34,116 | -20.3% |
| Distributable reserves | 133 | - | €35,000 | +€35,000 | |
| Profit (loss) carried forward | 14 | €9,245 | €11,879 | +€2,634 | +28.5% |
| Provisions and deferred taxes | 16 | €87,644 | €68,843 | -€18,801 | -21.5% |
| Provisions for liabilities and charges | 160/5 | €1,000 | €0 | -€1,000 | -100% |
| Other liabilities and charges | 164/5 | €1,000 | €0 | -€1,000 | -100% |
| Deferred taxes | 168 | €86,644 | €68,843 | -€17,801 | -20.5% |
| Amounts payable | 17/49 | €935,953 | €870,287 | -€65,666 | -7.0% |
| Amounts payable after more than one year | 17 | €156,976 | €0 | -€156,976 | -100% |
| Financial debts | 170/4 | €156,976 | €0 | -€156,976 | -100% |
| Amounts payable within one year | 42/48 | €769,775 | €861,606 | +€91,831 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | - | €44,976 | +€44,976 | |
| Trade debts | 44 | €1,375 | €27,488 | +€26,113 | +1,900% |
| Suppliers | 440/4 | €1,375 | €27,488 | +€26,113 | +1,900% |
| Taxes, remuneration and social security | 45 | - | €3,500 | +€3,500 | |
| Taxes | 450/3 | - | €3,500 | +€3,500 | |
| Other amounts payable | 47/48 | €768,401 | €785,642 | +€17,241 | +2.2% |
| Accrued charges and deferred income | 492/3 | €9,201 | €8,681 | -€520 | -5.6% |
| Non-recurring operating income | 76A | - | €650 | +€650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €363,238 | €191,861 | -€171,377 | -47.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€1,000 | -€1,000 | |
| Other operating charges | 640/8 | €28,346 | €17,921 | -€10,425 | -36.8% |
| Gross operating margin | 9900 | €249,864 | €198,456 | -€51,408 | -20.6% |
| Operating profit (loss) | 9901 | -€141,720 | -€10,326 | +€131,394 | +92.7% |
| Financial charges | 65/66B | €1,275 | €457 | -€818 | -64.1% |
| Recurring financial charges | 65 | €1,275 | €457 | -€818 | -64.1% |
| Profit (loss) for the period before taxes | 9903 | -€142,995 | -€10,783 | +€132,212 | +92.5% |
| Transfer from deferred taxes | 780 | €36,981 | €17,801 | -€19,180 | -51.9% |
| Income taxes | 67/77 | - | €3,500 | +€3,500 | |
| Profit (loss) for the period | 9904 | -€106,014 | €3,518 | +€109,532 | |
| Transfer from tax-exempt reserves | 789 | €68,634 | €34,116 | -€34,519 | -50.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,380 | €37,634 | +€75,014 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.