IMMO-GROW: 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-GROW
Largest movements
- Tangible fixed assets -€5,967
down €5,967 (-3.8%), from €155,801 to €149,834
of which Land and buildings: -€4,622
- Debts after one year -€11,000
down €11,000 (-20.0%), from €55,000 to €44,000
- Reserves +€3,562
up €3,562 (+2.6%), from €136,677 to €140,239
of which Distributable reserves: +€6,900
- Gross operating margin -€941
down €941 (-5.8%), from €16,284 to €15,343
- Financial charges -€294
down €294 (-21.5%), from €1,367 to €1,072
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €301,536 | €294,170 | -€7,366 | -2.4% |
| Fixed assets | 21/28 | €160,660 | €154,692 | -€5,967 | -3.7% |
| Tangible fixed assets | 22/27 | €155,801 | €149,834 | -€5,967 | -3.8% |
| Land and buildings | 22 | €142,186 | €137,564 | -€4,622 | -3.3% |
| Plant, machinery and equipment | 23 | €13,615 | €12,269 | -€1,345 | -9.9% |
| Financial fixed assets | 28 | €4,859 | €4,859 | = | 0.0% |
| Current assets | 29/58 | €140,876 | €139,478 | -€1,399 | -1.0% |
| Amounts receivable after more than one year | 29 | €80,000 | €80,000 | = | 0.0% |
| Other amounts receivable | 291 | €80,000 | €80,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,460 | €61 | -€1,399 | -95.8% |
| Deferred charges and accrued income | 490/1 | €59,417 | €59,417 | = | 0.0% |
| Total equity and liabilities | 10/49 | €301,536 | €294,170 | -€7,366 | -2.4% |
| Equity | 10/15 | €198,677 | €202,239 | +€3,562 | +1.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €136,677 | €140,239 | +€3,562 | +2.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €68,493 | €65,156 | -€3,338 | -4.9% |
| Distributable reserves | 133 | €61,984 | €68,884 | +€6,900 | +11.1% |
| Provisions and deferred taxes | 16 | €22,905 | €21,793 | -€1,113 | -4.9% |
| Deferred taxes | 168 | €22,905 | €21,793 | -€1,113 | -4.9% |
| Amounts payable | 17/49 | €79,954 | €70,138 | -€9,816 | -12.3% |
| Amounts payable after more than one year | 17 | €55,000 | €44,000 | -€11,000 | -20.0% |
| Financial debts | 170/4 | €55,000 | €44,000 | -€11,000 | -20.0% |
| Amounts payable within one year | 42/48 | €24,954 | €26,138 | +€1,184 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €11,000 | €11,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,462 | €3,087 | -€1,375 | -30.8% |
| Taxes | 450/3 | €4,462 | €3,087 | -€1,375 | -30.8% |
| Other amounts payable | 47/48 | €9,492 | €12,051 | +€2,559 | +27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,967 | €5,967 | = | 0.0% |
| Other operating charges | 640/8 | €3,468 | €3,342 | -€126 | -3.6% |
| Gross operating margin | 9900 | €16,284 | €15,343 | -€941 | -5.8% |
| Operating profit (loss) | 9901 | €6,849 | €6,034 | -€815 | -11.9% |
| Financial charges | 65/66B | €1,367 | €1,072 | -€294 | -21.5% |
| Recurring financial charges | 65 | €1,367 | €1,072 | -€294 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €5,482 | €4,961 | -€521 | -9.5% |
| Transfer from deferred taxes | 780 | €1,113 | €1,113 | = | 0.0% |
| Income taxes | 67/77 | €2,651 | €2,512 | -€139 | -5.2% |
| Profit (loss) for the period | 9904 | €3,944 | €3,562 | -€382 | -9.7% |
| Transfer from tax-exempt reserves | 789 | €3,338 | €3,338 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,282 | €6,900 | -€382 | -5.2% |
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 21 October 2026 via checked.be.