IMMO HAELS: what changed
Two fiscal 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 HAELS
Largest movements
- Cash +€55,931
up €55,931 (+90.1%), from €62,107 to €118,038
mainly Depreciation (+€31,833) and Net result for the year (+€22,897)
- Tangible fixed assets -€29,393
down €29,393 (-2.4%), from €1.2m to €1.2m
of which Land and buildings: -€19,930
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€17,698
down €17,698 (-44.1%), from €40,151 to €22,453
- Gross operating margin +€14,465
up €14,465 (+26.9%), from €53,872 to €68,337
- Depreciation +€5,249
up €5,249 (+19.7%), from €26,585 to €31,833
- Other operating charges +€3,577
up €3,577 (+25.7%), from €13,903 to €17,480
- Taxes -€2,219
down €2,219 (-13.6%), from €16,266 to €14,048
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.
Cash bridge derived
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 | €2,469,145 | €2,501,797 | +€32,652 | +1.3% |
| Fixed assets | 21/28 | €1,213,203 | €1,183,810 | -€29,393 | -2.4% |
| Tangible fixed assets | 22/27 | €1,208,744 | €1,179,351 | -€29,393 | -2.4% |
| Land and buildings | 22 | €1,154,090 | €1,134,159 | -€19,930 | -1.7% |
| Plant, machinery and equipment | 23 | €25,484 | €22,386 | -€3,098 | -12.2% |
| Furniture and vehicles | 24 | €29,169 | €22,805 | -€6,364 | -21.8% |
| Financial fixed assets | 28 | €4,459 | €4,459 | = | 0.0% |
| Current assets | 29/58 | €1,255,942 | €1,317,988 | +€62,045 | +4.9% |
| Stocks and contracts in progress | 3 | €621 | - | -€621 | |
| Stocks | 30/36 | €621 | - | -€621 | |
| Amounts receivable within one year | 40/41 | €205,614 | €208,155 | +€2,540 | +1.2% |
| Trade receivables | 40 | €3,706 | €5,832 | +€2,126 | +57.4% |
| Other amounts receivable | 41 | €201,908 | €202,323 | +€414 | +0.2% |
| Current investments | 50/53 | €987,600 | €988,766 | +€1,166 | +0.1% |
| Cash at bank and in hand | 54/58 | €62,107 | €118,038 | +€55,931 | +90.1% |
| Deferred charges and accrued income | 490/1 | - | €3,029 | +€3,029 | |
| Total equity and liabilities | 10/49 | €2,469,145 | €2,501,797 | +€32,652 | +1.3% |
| Equity | 10/15 | €2,331,184 | €2,354,080 | +€22,897 | +1.0% |
| Contributions | 10/11 | €1,183,611 | €1,183,611 | = | 0.0% |
| Reserves | 13 | €1,147,573 | €1,170,470 | +€22,897 | +2.0% |
| Non-distributable reserves | 130/1 | €101,553 | €101,553 | = | 0.0% |
| Reserves not available under the articles | 1311 | €101,553 | €101,553 | = | 0.0% |
| Tax-exempt reserves | 132 | €111,935 | €105,351 | -€6,584 | -5.9% |
| Distributable reserves | 133 | €934,084 | €963,565 | +€29,481 | +3.2% |
| Provisions and deferred taxes | 16 | €27,984 | €26,338 | -€1,646 | -5.9% |
| Deferred taxes | 168 | €27,984 | €26,338 | -€1,646 | -5.9% |
| Amounts payable | 17/49 | €109,978 | €121,379 | +€11,402 | +10.4% |
| Amounts payable within one year | 42/48 | €109,978 | €121,379 | +€11,402 | +10.4% |
| Trade debts | 44 | €6,069 | €2,971 | -€3,098 | -51.0% |
| Suppliers | 440/4 | €6,069 | €2,971 | -€3,098 | -51.0% |
| Taxes, remuneration and social security | 45 | €17,344 | €23,892 | +€6,547 | +37.8% |
| Taxes | 450/3 | €17,344 | €23,568 | +€6,224 | +35.9% |
| Remuneration and social security | 454/9 | - | €324 | +€324 | |
| Other amounts payable | 47/48 | €86,564 | €94,516 | +€7,952 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,585 | €31,833 | +€5,249 | +19.7% |
| Other operating charges | 640/8 | €13,903 | €17,480 | +€3,577 | +25.7% |
| Non-recurring operating charges | 66A | - | €2,190 | +€2,190 | |
| Gross operating margin | 9900 | €53,872 | €68,337 | +€14,465 | +26.9% |
| Operating profit (loss) | 9901 | €13,384 | €16,833 | +€3,449 | +25.8% |
| Financial income | 75/76B | €40,151 | €22,453 | -€17,698 | -44.1% |
| Recurring financial income | 75 | €40,151 | €22,453 | -€17,698 | -44.1% |
| Financial charges | 65/66B | €2,670 | €3,988 | +€1,318 | +49.4% |
| Recurring financial charges | 65 | €2,670 | €3,988 | +€1,318 | +49.4% |
| Profit (loss) for the period before taxes | 9903 | €50,865 | €35,298 | -€15,567 | -30.6% |
| Transfer from deferred taxes | 780 | €1,646 | €1,646 | = | 0.0% |
| Income taxes | 67/77 | €16,266 | €14,048 | -€2,219 | -13.6% |
| Profit (loss) for the period | 9904 | €36,245 | €22,897 | -€13,348 | -36.8% |
| Transfer from tax-exempt reserves | 789 | €6,584 | €6,584 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,829 | €29,481 | -€13,348 | -31.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.