IMMO HAC: 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 HAC
Largest movements
- Cash +€424,903
up €424,903 (+1,376%), from €30,876 to €455,779
mainly Net result for the year (+€212,654) and Receivables within one year (+€195,039)
- Receivables within one year -€195,039
down €195,039 (-98.3%), from €198,326 to €3,288
of which Trade receivables: -€129,198
- Deferred charges and accrued income +€47,611
up €47,611 (+193%), from €24,710 to €72,321
- Profit (loss) carried forward +€212,654
up €212,654 (+33.3%), from €637,682 to €850,335
- Trade debts +€60,960
up €60,960 (+386%), from €15,783 to €76,743
- Debts after one year -€53,446
down €53,446 (-12.4%), from €430,066 to €376,620
of which Financial debts: -€51,446
- Other debts +€39,439
up €39,439 (+22.6%), from €174,263 to €213,702
- Depreciation -€26,606
down €26,606 (-16.5%), from €160,802 to €134,196
- Gross operating margin -€25,069
down €25,069 (-5.3%), from €477,428 to €452,359
- Financial charges -€9,529
down €9,529 (-28.2%), from €33,772 to €24,243
- Other operating charges +€4,898
up €4,898 (+43.5%), from €11,249 to €16,147
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 | €1,536,478 | €1,804,080 | +€267,603 | +17.4% |
| Fixed assets | 21/28 | €1,282,565 | €1,262,693 | -€19,873 | -1.5% |
| Intangible fixed assets | 21 | €114,175 | €98,554 | -€15,621 | -13.7% |
| Tangible fixed assets | 22/27 | €1,168,390 | €1,164,139 | -€4,251 | -0.4% |
| Land and buildings | 22 | €908,414 | €900,910 | -€7,504 | -0.8% |
| Plant, machinery and equipment | 23 | €258,152 | €241,308 | -€16,843 | -6.5% |
| Furniture and vehicles | 24 | €1,824 | €21,920 | +€20,096 | +1,102% |
| Current assets | 29/58 | €253,912 | €541,388 | +€287,475 | +113% |
| Amounts receivable within one year | 40/41 | €198,326 | €3,288 | -€195,039 | -98.3% |
| Trade receivables | 40 | €132,376 | €3,179 | -€129,198 | -97.6% |
| Other amounts receivable | 41 | €65,950 | €109 | -€65,841 | -99.8% |
| Current investments | 50/53 | - | €10,000 | +€10,000 | |
| Cash at bank and in hand | 54/58 | €30,876 | €455,779 | +€424,903 | +1,376% |
| Deferred charges and accrued income | 490/1 | €24,710 | €72,321 | +€47,611 | +193% |
| Total equity and liabilities | 10/49 | €1,536,478 | €1,804,080 | +€267,603 | +17.4% |
| Equity | 10/15 | €707,682 | €920,335 | +€212,654 | +30.0% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Contributions outside capital | 11 | €70,000 | €70,000 | = | 0.0% |
| Other | 1109/19 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €637,682 | €850,335 | +€212,654 | +33.3% |
| Amounts payable | 17/49 | €828,796 | €883,745 | +€54,949 | +6.6% |
| Amounts payable after more than one year | 17 | €430,066 | €376,620 | -€53,446 | -12.4% |
| Financial debts | 170/4 | €375,316 | €323,870 | -€51,446 | -13.7% |
| Other amounts payable | 178/9 | €54,750 | €52,750 | -€2,000 | -3.7% |
| Amounts payable within one year | 42/48 | €343,948 | €443,992 | +€100,043 | +29.1% |
| Current portion of amounts payable after more than one year | 42 | €54,024 | €55,664 | +€1,640 | +3.0% |
| Trade debts | 44 | €15,783 | €76,743 | +€60,960 | +386% |
| Suppliers | 440/4 | €15,783 | €76,743 | +€60,960 | +386% |
| Taxes, remuneration and social security | 45 | €99,878 | €97,883 | -€1,996 | -2.0% |
| Taxes | 450/3 | €99,878 | €97,883 | -€1,996 | -2.0% |
| Other amounts payable | 47/48 | €174,263 | €213,702 | +€39,439 | +22.6% |
| Accrued charges and deferred income | 492/3 | €54,782 | €63,133 | +€8,352 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €160,802 | €134,196 | -€26,606 | -16.5% |
| Other operating charges | 640/8 | €11,249 | €16,147 | +€4,898 | +43.5% |
| Non-recurring operating charges | 66A | €1,116 | - | -€1,116 | |
| Gross operating margin | 9900 | €477,428 | €452,359 | -€25,069 | -5.3% |
| Operating profit (loss) | 9901 | €304,261 | €302,016 | -€2,245 | -0.7% |
| Financial income | 75/76B | €624 | €252 | -€372 | -59.6% |
| Recurring financial income | 75 | €74 | €252 | +€178 | +239% |
| Non-recurring financial income | 76B | €550 | - | -€550 | |
| Financial charges | 65/66B | €33,772 | €24,243 | -€9,529 | -28.2% |
| Recurring financial charges | 65 | €33,772 | €24,243 | -€9,529 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €271,113 | €278,024 | +€6,911 | +2.5% |
| Income taxes | 67/77 | €69,986 | €65,371 | -€4,615 | -6.6% |
| Profit (loss) for the period | 9904 | €201,127 | €212,654 | +€11,527 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €201,127 | €212,654 | +€11,527 | +5.7% |
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.