Immo - H.S.: 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.S.
Largest movements
- Receivables after one year +€1.7m
new in 2025: €1.7m
- Cash -€1.4m
down €1.4m (-65.5%), from €2.2m to €749,012
mainly Receivables after one year (-€1.7m) and Receivables within one year (-€86,370)
- Receivables within one year +€86,370
up €86,370 (+613%), from €14,079 to €100,449
of which Trade receivables: +€96,442
- Tangible fixed assets -€67,783
down €67,783 (-11.6%), from €584,447 to €516,665
- Deferred charges and accrued income +€49,929
new in 2025: €49,929
- Profit (loss) carried forward +€162,447
up €162,447 (+7.0%), from €2.3m to €2.5m
- Accrued charges and deferred income +€119,303
new in 2025: €119,303
- Tax, wage and social debts +€76,722
up €76,722 (+134%), from €57,120 to €133,842
- Gross operating margin -€587,389
down €587,389 (-65.8%), from €892,884 to €305,495
- Taxes -€130,793
down €130,793 (-68.9%), from €189,928 to €59,135
- Financial income +€49,929
new in 2025: €49,929
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 | €2,772,667 | €3,116,054 | +€343,387 | +12.4% |
| Fixed assets | 21/28 | €584,447 | €516,665 | -€67,783 | -11.6% |
| Tangible fixed assets | 22/27 | €584,447 | €516,665 | -€67,783 | -11.6% |
| Land and buildings | 22 | €584,447 | €516,665 | -€67,783 | -11.6% |
| Current assets | 29/58 | €2,188,220 | €2,599,390 | +€411,170 | +18.8% |
| Amounts receivable after more than one year | 29 | - | €1,700,000 | +€1.7m | |
| Other amounts receivable | 291 | - | €1,700,000 | +€1.7m | |
| Amounts receivable within one year | 40/41 | €14,079 | €100,449 | +€86,370 | +613% |
| Trade receivables | 40 | €4,006 | €100,449 | +€96,442 | +2,407% |
| Other amounts receivable | 41 | €10,072 | - | -€10,072 | |
| Cash at bank and in hand | 54/58 | €2,174,142 | €749,012 | -€1.4m | -65.5% |
| Deferred charges and accrued income | 490/1 | - | €49,929 | +€49,929 | |
| Total equity and liabilities | 10/49 | €2,772,667 | €3,116,054 | +€343,387 | +12.4% |
| Equity | 10/15 | €2,518,776 | €2,681,223 | +€162,447 | +6.4% |
| Contributions | 10/11 | €192,775 | €192,775 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,326,001 | €2,488,448 | +€162,447 | +7.0% |
| Amounts payable | 17/49 | €253,892 | €434,831 | +€180,940 | +71.3% |
| Amounts payable within one year | 42/48 | €253,892 | €315,529 | +€61,637 | +24.3% |
| Trade debts | 44 | €196,772 | €181,687 | -€15,085 | -7.7% |
| Suppliers | 440/4 | €196,772 | €181,687 | -€15,085 | -7.7% |
| Taxes, remuneration and social security | 45 | €57,120 | €133,842 | +€76,722 | +134% |
| Taxes | 450/3 | €57,120 | €133,842 | +€76,722 | +134% |
| Accrued charges and deferred income | 492/3 | - | €119,303 | +€119,303 | |
| Non-recurring operating income | 76A | €798,867 | - | -€798,867 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,758 | €67,783 | -€4,975 | -6.8% |
| Other operating charges | 640/8 | €63,038 | €63,872 | +€834 | +1.3% |
| Gross operating margin | 9900 | €892,884 | €305,495 | -€587,389 | -65.8% |
| Operating profit (loss) | 9901 | €757,088 | €173,840 | -€583,247 | -77.0% |
| Financial income | 75/76B | - | €49,929 | +€49,929 | |
| Recurring financial income | 75 | - | €49,929 | +€49,929 | |
| Financial charges | 65/66B | €1,389 | €2,187 | +€798 | +57.4% |
| Recurring financial charges | 65 | €1,389 | €2,187 | +€798 | +57.4% |
| Profit (loss) for the period before taxes | 9903 | €755,698 | €221,582 | -€534,116 | -70.7% |
| Income taxes | 67/77 | €189,928 | €59,135 | -€130,793 | -68.9% |
| Profit (loss) for the period | 9904 | €565,770 | €162,447 | -€403,323 | -71.3% |
| Profit (loss) for the period to be appropriated | 9905 | €565,770 | €162,447 | -€403,323 | -71.3% |
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 19 October 2026 via checked.be.