IMMO-HAAG: 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-HAAG
Largest movements
- Tangible fixed assets -€99,562
down €99,562 (-4.9%), from €2.0m to €1.9m
of which Land and buildings: -€67,735
- Receivables within one year -€56,645
down €56,645 (-72.0%), from €78,630 to €21,985
of which Other amounts receivable: -€62,953
- Trade debts -€142,264
down €142,264 (-87.2%), from €163,141 to €20,876
- Profit (loss) carried forward +€140,468
up €140,468, from -€34,990 to €105,477
- Other debts -€76,487
down €76,487 (-28.5%), from €268,343 to €191,856
- Gross operating margin +€223,315
up €223,315 (+187%), from €119,308 to €342,623
- Depreciation +€40,804
up €40,804 (+40.6%), from €100,572 to €141,376
- Taxes +€34,042
new in 2025: €34,042
- Other operating charges -€27,169
down €27,169 (-41.9%), from €64,881 to €37,712
- Financial charges -€5,912
down €5,912 (-26.0%), from €22,761 to €16,849
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 | €2,989,497 | €2,860,701 | -€128,797 | -4.3% |
| Fixed assets | 21/28 | €2,041,931 | €1,943,029 | -€98,902 | -4.8% |
| Tangible fixed assets | 22/27 | €2,029,382 | €1,929,819 | -€99,562 | -4.9% |
| Land and buildings | 22 | €1,877,166 | €1,809,432 | -€67,735 | -3.6% |
| Furniture and vehicles | 24 | €152,215 | €120,388 | -€31,828 | -20.9% |
| Financial fixed assets | 28 | €12,550 | €13,210 | +€661 | +5.3% |
| Current assets | 29/58 | €947,566 | €917,672 | -€29,895 | -3.2% |
| Amounts receivable within one year | 40/41 | €78,630 | €21,985 | -€56,645 | -72.0% |
| Trade receivables | 40 | €476 | €6,784 | +€6,308 | +1,324% |
| Other amounts receivable | 41 | €78,153 | €15,200 | -€62,953 | -80.6% |
| Current investments | 50/53 | €508,710 | €508,710 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €360,226 | €386,976 | +€26,751 | +7.4% |
| Total equity and liabilities | 10/49 | €2,989,497 | €2,860,701 | -€128,797 | -4.3% |
| Equity | 10/15 | €2,476,486 | €2,598,249 | +€121,763 | +4.9% |
| Contributions | 10/11 | €65,496 | €65,496 | = | 0.0% |
| Capital | 10 | €65,496 | €65,496 | = | 0.0% |
| Issued capital | 100 | €65,496 | €65,496 | = | 0.0% |
| Reserves | 13 | €2,445,189 | €2,426,589 | -€18,600 | -0.8% |
| Non-distributable reserves | 130/1 | €6,550 | €6,550 | = | 0.0% |
| Legal reserve | 130 | €6,550 | €6,550 | = | 0.0% |
| Tax-exempt reserves | 132 | €188,710 | €170,110 | -€18,600 | -9.9% |
| Distributable reserves | 133 | €2,249,929 | €2,249,929 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,990 | €105,477 | +€140,468 | |
| Investment grants | 15 | €792 | €687 | -€105 | -13.3% |
| Provisions and deferred taxes | 16 | €50,620 | €44,392 | -€6,228 | -12.3% |
| Deferred taxes | 168 | €50,620 | €44,392 | -€6,228 | -12.3% |
| Amounts payable | 17/49 | €462,391 | €218,060 | -€244,331 | -52.8% |
| Amounts payable after more than one year | 17 | €140 | €140 | = | 0.0% |
| Other amounts payable | 178/9 | €140 | €140 | = | 0.0% |
| Amounts payable within one year | 42/48 | €462,251 | €217,920 | -€244,331 | -52.9% |
| Trade debts | 44 | €163,141 | €20,876 | -€142,264 | -87.2% |
| Suppliers | 440/4 | €163,141 | €20,876 | -€142,264 | -87.2% |
| Taxes, remuneration and social security | 45 | €30,767 | €5,187 | -€25,580 | -83.1% |
| Taxes | 450/3 | €30,767 | €5,187 | -€25,580 | -83.1% |
| Other amounts payable | 47/48 | €268,343 | €191,856 | -€76,487 | -28.5% |
| Non-recurring operating income | 76A | €2,430 | €220,821 | +€218,391 | +8,988% |
| Remuneration, social security and pensions | 62 | €287 | €301 | +€14 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,572 | €141,376 | +€40,804 | +40.6% |
| Other operating charges | 640/8 | €64,881 | €37,712 | -€27,169 | -41.9% |
| Gross operating margin | 9900 | €119,308 | €342,623 | +€223,315 | +187% |
| Operating profit (loss) | 9901 | -€46,431 | €163,235 | +€209,666 | |
| Financial income | 75/76B | €6,291 | €3,296 | -€2,995 | -47.6% |
| Recurring financial income | 75 | €6,291 | €3,296 | -€2,995 | -47.6% |
| Financial charges | 65/66B | €22,761 | €16,849 | -€5,912 | -26.0% |
| Recurring financial charges | 65 | €22,761 | €16,849 | -€5,912 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | -€62,902 | €149,682 | +€212,583 | |
| Transfer from deferred taxes | 780 | €6,228 | €6,228 | = | 0.0% |
| Income taxes | 67/77 | - | €34,042 | +€34,042 | |
| Profit (loss) for the period | 9904 | -€56,673 | €121,868 | +€178,541 | |
| Transfer from tax-exempt reserves | 789 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,073 | €140,468 | +€178,541 |
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.