IMMO - H: 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 - H
Largest movements
- Financial fixed assets -€1.1m
no longer reported in 2025 (was €1.1m)
- Tangible fixed assets -€203,777
down €203,777 (-8.4%), from €2.4m to €2.2m
- Cash +€42,680
up €42,680 (+60.0%), from €71,134 to €113,814
mainly Investment in fixed assets (net) (+€1.1m) and Other debts (+€405,309)
- Deferred charges and accrued income +€36,321
up €36,321 (+743%), from €4,889 to €41,210
- Reserves -€1.1m
down €1.1m (-77.6%), from €1.4m to €303,731
of which Distributable reserves: -€855,234
- Other debts +€405,309
up €405,309 (+48.0%), from €843,698 to €1.2m
- Debts after one year -€251,514
down €251,514 (-39.9%), from €630,692 to €379,178
of which Financial debts: -€246,114
- Tax, wage and social debts -€179,569
down €179,569 (-83.8%), from €214,298 to €34,730
of which Taxes: -€177,594
- Current portion of long-term debt -€55,086
down €55,086 (-18.3%), from €300,948 to €245,862
- Financial charges +€999,462
up €999,462 (+2,544%), from €39,289 to €1.0m
of which Non-recurring financial charges: +€944,492
- Other operating charges +€104,438
up €104,438 (+282%), from €36,977 to €141,416
- Gross operating margin +€72,839
up €72,839 (+28.6%), from €254,725 to €327,565
- Depreciation -€20,000
down €20,000 (-8.9%), from €223,777 to €203,777
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 | €3,596,760 | €2,385,375 | -€1.2m | -33.7% |
| Fixed assets | 21/28 | €3,483,774 | €2,220,996 | -€1.3m | -36.2% |
| Tangible fixed assets | 22/27 | €2,424,774 | €2,220,996 | -€203,777 | -8.4% |
| Land and buildings | 22 | €2,424,774 | €2,220,996 | -€203,777 | -8.4% |
| Financial fixed assets | 28 | €1,059,000 | - | -€1.1m | |
| Current assets | 29/58 | €112,987 | €164,379 | +€51,392 | +45.5% |
| Amounts receivable within one year | 40/41 | €36,964 | €9,354 | -€27,609 | -74.7% |
| Trade receivables | 40 | €7,560 | - | -€7,560 | |
| Other amounts receivable | 41 | €29,403 | €9,354 | -€20,049 | -68.2% |
| Cash at bank and in hand | 54/58 | €71,134 | €113,814 | +€42,680 | +60.0% |
| Deferred charges and accrued income | 490/1 | €4,889 | €41,210 | +€36,321 | +743% |
| Total equity and liabilities | 10/49 | €3,596,760 | €2,385,375 | -€1.2m | -33.7% |
| Equity | 10/15 | €1,455,067 | €403,731 | -€1.1m | -72.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,355,067 | €303,731 | -€1.1m | -77.6% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €203,094 | €6,993 | -€196,101 | -96.6% |
| Distributable reserves | 133 | €1,141,972 | €286,738 | -€855,234 | -74.9% |
| Provisions and deferred taxes | 16 | €49,025 | - | -€49,025 | |
| Deferred taxes | 168 | €49,025 | - | -€49,025 | |
| Amounts payable | 17/49 | €2,092,668 | €1,981,644 | -€111,025 | -5.3% |
| Amounts payable after more than one year | 17 | €630,692 | €379,178 | -€251,514 | -39.9% |
| Financial debts | 170/4 | €586,472 | €340,358 | -€246,114 | -42.0% |
| Other amounts payable | 178/9 | €44,221 | €38,820 | -€5,401 | -12.2% |
| Amounts payable within one year | 42/48 | €1,455,120 | €1,602,466 | +€147,346 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €300,948 | €245,862 | -€55,086 | -18.3% |
| Trade debts | 44 | €96,176 | €72,868 | -€23,308 | -24.2% |
| Suppliers | 440/4 | €96,176 | €72,868 | -€23,308 | -24.2% |
| Taxes, remuneration and social security | 45 | €214,298 | €34,730 | -€179,569 | -83.8% |
| Taxes | 450/3 | €206,704 | €29,110 | -€177,594 | -85.9% |
| Remuneration and social security | 454/9 | €7,594 | €5,620 | -€1,975 | -26.0% |
| Other amounts payable | 47/48 | €843,698 | €1,249,007 | +€405,309 | +48.0% |
| Accrued charges and deferred income | 492/3 | €6,856 | - | -€6,856 | |
| Remuneration, social security and pensions | 62 | €45,469 | €46,911 | +€1,442 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €223,777 | €203,777 | -€20,000 | -8.9% |
| Other operating charges | 640/8 | €36,977 | €141,416 | +€104,438 | +282% |
| Gross operating margin | 9900 | €254,725 | €327,565 | +€72,839 | +28.6% |
| Operating profit (loss) | 9901 | -€51,499 | -€64,539 | -€13,040 | -25.3% |
| Financial income | 75/76B | €102 | €2,929 | +€2,828 | +2,779% |
| Recurring financial income | 75 | €102 | €2,929 | +€2,828 | +2,779% |
| Financial charges | 65/66B | €39,289 | €1,038,751 | +€999,462 | +2,544% |
| Recurring financial charges | 65 | €39,289 | €94,259 | +€54,970 | +140% |
| Non-recurring financial charges | 66B | - | €944,492 | +€944,492 | |
| Profit (loss) for the period before taxes | 9903 | -€90,686 | -€1,100,361 | -€1.0m | -1,113% |
| Transfer from deferred taxes | 780 | - | €49,025 | +€49,025 | |
| Profit (loss) for the period | 9904 | -€90,686 | -€1,051,336 | -€960,650 | -1,059% |
| Transfer from tax-exempt reserves | 789 | - | €196,101 | +€196,101 | |
| Profit (loss) for the period to be appropriated | 9905 | -€90,686 | -€855,234 | -€764,549 | -843% |
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 17 October 2026 via checked.be.