IMMO HAKER: 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.
What changed
IMMO HAKER
NACE 68.121, Development of residential building projects
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€43,662
2024 · €601,629-€557,967
Equity
€3.3m
2024 · €3.3m+€40,058
Cash
€184,326
2024 · €272,961-€88,635
Balance sheet total
€4.2m
2024 · €4.3m-€88,476
Largest movements
Assets
- Cash -€88,635
down €88,635 (-32.5%), from €272,961 to €184,326
mainly Debts after one year (-€75,000) and Investment in fixed assets (net) (-€59,782)
Equity and liabilities
- Debts after one year -€75,000
down €75,000 (-29.3%), from €256,250 to €181,250
- Reserves +€43,662
up €43,662 (+2.0%), from €2.1m to €2.2m
of which Distributable reserves: +€54,868
Income statement
- Gross operating margin -€768,596
down €768,596 (-80.7%), from €952,611 to €184,015
- Financial charges -€25,592
down €25,592 (-51.2%), from €50,006 to €24,414
- Taxes +€14,925
up €14,925 (+255.5%), from €5,842 to €20,767
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.
Result 2024
€601,629
Gross operating margin
-€768,596
Depreciation
-€512
Other operating charges
+€193
Financial income
+€2,736
Financial charges
+€25,592
Taxes
-€14,925
Deferred taxes and other
+€197,546
Result 2025
€43,662
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.
From operations
+€49,752
Investment
-€59,782
Financing
-€78,605
Cash 2024
€272,961
From operations (derived)
+€49,752
Net result for the year
+€43,662
Depreciation
+€77,787
Receivables after one year
-€5,000
Receivables within one year
-€24,686
Deferred charges and accrued income
+€11,522
Provisions
-€5,393
Trade debts
-€8,901
Tax, wage and social debts
+€15,450
Other debts
-€42,285
Accrued charges and deferred income
-€12,405
Investment (derived)
-€59,782
Investment in fixed assets (net)
-€59,782
Financing
-€78,605
Debts after one year
-€75,000
Contributions, distributions and other
-€3,605
Cash 2025
€184,326
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,291,775 | €4,203,299 | -€88,476 | -2.1% |
| Fixed assets | 21/28 | €2,586,895 | €2,568,890 | -€18,005 | -0.7% |
| Tangible fixed assets | 22/27 | €2,576,895 | €2,558,890 | -€18,005 | -0.7% |
| Land and buildings | 22 | €2,575,085 | €2,558,396 | -€16,689 | -0.6% |
| Plant, machinery and equipment | 23 | €1,228 | €219 | -€1,008 | -82.1% |
| Furniture and vehicles | 24 | €583 | €275 | -€308 | -52.8% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €1,704,880 | €1,634,409 | -€70,471 | -4.1% |
| Amounts receivable after more than one year | 29 | €160,000 | €165,000 | +€5,000 | +3.1% |
| Other amounts receivable | 291 | €160,000 | €165,000 | +€5,000 | +3.1% |
| Amounts receivable within one year | 40/41 | €994,369 | €1,019,055 | +€24,686 | +2.5% |
| Trade receivables | 40 | €141,282 | €209,530 | +€68,249 | +48.3% |
| Other amounts receivable | 41 | €853,088 | €809,525 | -€43,563 | -5.1% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €272,961 | €184,326 | -€88,635 | -32.5% |
| Deferred charges and accrued income | 490/1 | €27,549 | €16,027 | -€11,522 | -41.8% |
| Total equity and liabilities | 10/49 | €4,291,775 | €4,203,299 | -€88,476 | -2.1% |
| Equity | 10/15 | €3,250,273 | €3,290,331 | +€40,058 | +1.2% |
| Contributions | 10/11 | €811,502 | €811,502 | = | 0.0% |
| Capital | 10 | €811,502 | €811,502 | = | 0.0% |
| Issued capital | 100 | €811,502 | €811,502 | = | 0.0% |
| Revaluation surpluses | 12 | €270,659 | €270,659 | = | 0.0% |
| Reserves | 13 | €2,142,880 | €2,186,542 | +€43,662 | +2.0% |
| Non-distributable reserves | 130/1 | €54,981 | €57,868 | +€2,888 | +5.3% |
| Legal reserve | 130 | €54,981 | €57,868 | +€2,888 | +5.3% |
| Tax-exempt reserves | 132 | €647,674 | €633,581 | -€14,093 | -2.2% |
| Distributable reserves | 133 | €1,440,225 | €1,495,093 | +€54,868 | +3.8% |
| Investment grants | 15 | €25,232 | €21,627 | -€3,605 | -14.3% |
| Provisions and deferred taxes | 16 | €425,729 | €420,335 | -€5,393 | -1.3% |
| Provisions for liabilities and charges | 160/5 | €200,000 | €200,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €200,000 | €200,000 | = | 0.0% |
| Deferred taxes | 168 | €225,729 | €220,335 | -€5,393 | -2.4% |
| Amounts payable | 17/49 | €615,774 | €492,633 | -€123,141 | -20.0% |
| Amounts payable after more than one year | 17 | €256,250 | €181,250 | -€75,000 | -29.3% |
| Financial debts | 170/4 | €256,250 | €181,250 | -€75,000 | -29.3% |
| Amounts payable within one year | 42/48 | €336,643 | €300,908 | -€35,735 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €75,000 | €75,000 | = | 0.0% |
| Trade debts | 44 | €12,466 | €3,566 | -€8,901 | -71.4% |
| Suppliers | 440/4 | €12,466 | €3,566 | -€8,901 | -71.4% |
| Taxes, remuneration and social security | 45 | €14,570 | €30,020 | +€15,450 | +106.0% |
| Taxes | 450/3 | €14,570 | €30,020 | +€15,450 | +106.0% |
| Other amounts payable | 47/48 | €234,607 | €192,322 | -€42,285 | -18.0% |
| Accrued charges and deferred income | 492/3 | €22,881 | €10,476 | -€12,405 | -54.2% |
| Non-recurring operating income | 76A | €828,516 | - | -€828,516 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,275 | €77,787 | +€512 | +0.7% |
| Other operating charges | 640/8 | €42,911 | €42,719 | -€193 | -0.4% |
| Gross operating margin | 9900 | €952,611 | €184,015 | -€768,596 | -80.7% |
| Operating profit (loss) | 9901 | €832,424 | €63,509 | -€768,915 | -92.4% |
| Financial income | 75/76B | €17,205 | €19,941 | +€2,736 | +15.9% |
| Recurring financial income | 75 | €17,205 | €19,941 | +€2,736 | +15.9% |
| Financial charges | 65/66B | €50,006 | €24,414 | -€25,592 | -51.2% |
| Recurring financial charges | 65 | €50,006 | €24,414 | -€25,592 | -51.2% |
| Profit (loss) for the period before taxes | 9903 | €799,624 | €59,036 | -€740,588 | -92.6% |
| Transfer from deferred taxes | 780 | €14,977 | €5,393 | -€9,583 | -64.0% |
| Transfer to deferred taxes | 680 | €207,129 | - | -€207,129 | |
| Income taxes | 67/77 | €5,842 | €20,767 | +€14,925 | +255.5% |
| Profit (loss) for the period | 9904 | €601,629 | €43,662 | -€557,967 | -92.7% |
| Transfer from tax-exempt reserves | 789 | €42,843 | €14,093 | -€28,749 | -67.1% |
| Transfer to tax-exempt reserves | 689 | €621,387 | - | -€621,387 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,085 | €57,756 | +€34,671 | +150.2% |
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 10 October 2026 via checked.be.