IMMO HEESTERMANS: 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 HEESTERMANS
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,610
2024 · €3,254+€1,355
Equity
€2.0m
2024 · €2.0m+€4,610
Cash
€16,228
2024 · €15,042+€1,186
Balance sheet total
€3.9m
2024 · €4.1m-€216,317
Largest movements
Assets
- Tangible fixed assets -€95,005
down €95,005 (-2.5%), from €3.9m to €3.8m
of which Land and buildings: -€98,038
- Receivables within one year -€81,845
down €81,845 (-94.7%), from €86,396 to €4,550
of which Other amounts receivable: -€86,080
Equity and liabilities
- Other debts -€144,057
down €144,057 (-7.6%), from €1.9m to €1.8m
- Debts after one year -€59,783
down €59,783 (-71.4%), from €83,745 to €23,963
of which Financial debts: -€59,783
Income statement
- Gross operating margin +€22,127
up €22,127 (+15.9%), from €138,837 to €160,964
- Depreciation +€10,201
up €10,201 (+8.1%), from €126,427 to €136,628
- Taxes +€6,940
new in 2025: €6,940
- Other operating charges +€3,501
up €3,501 (+18.8%), from €18,659 to €22,160
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
€3,254
Gross operating margin
+€22,127
Depreciation
-€10,201
Other operating charges
-€3,501
Financial charges
-€130
Taxes
-€6,940
Result 2025
€4,610
raises the resultlowers the result
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.
From operations
+€42,914
Investment
-€1,421
Financing
-€40,307
Cash 2024
€15,042
From operations (derived)
+€42,914
Net result for the year
+€4,610
Depreciation
+€136,628
Receivables within one year
+€81,845
Deferred charges and accrued income
+€451
Provisions
-€11,536
Trade debts
-€31,967
Tax, wage and social debts
+€6,940
Other debts
-€144,057
Investment (derived)
-€1,421
Investment in fixed assets (net)
-€41,623
Current investments
+€40,201
Financing
-€40,307
Debts after one year
-€59,783
Current portion of long-term debt
+€19,479
Short-term financial debts
-€4
Cash 2025
€16,228
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,104,671 | €3,888,354 | -€216,317 | -5.3% |
| Fixed assets | 21/28 | €3,862,518 | €3,767,513 | -€95,005 | -2.5% |
| Tangible fixed assets | 22/27 | €3,862,518 | €3,767,513 | -€95,005 | -2.5% |
| Land and buildings | 22 | €3,862,518 | €3,764,480 | -€98,038 | -2.5% |
| Plant, machinery and equipment | 23 | - | €3,032 | +€3,032 | |
| Current assets | 29/58 | €242,153 | €120,842 | -€121,311 | -50.1% |
| Amounts receivable within one year | 40/41 | €86,396 | €4,550 | -€81,845 | -94.7% |
| Trade receivables | 40 | - | €4,234 | +€4,234 | |
| Other amounts receivable | 41 | €86,396 | €316 | -€86,080 | -99.6% |
| Current investments | 50/53 | €139,497 | €99,295 | -€40,201 | -28.8% |
| Cash at bank and in hand | 54/58 | €15,042 | €16,228 | +€1,186 | +7.9% |
| Deferred charges and accrued income | 490/1 | €1,219 | €768 | -€451 | -37.0% |
| Total equity and liabilities | 10/49 | €4,104,671 | €3,888,354 | -€216,317 | -5.3% |
| Equity | 10/15 | €2,030,631 | €2,035,241 | +€4,610 | +0.2% |
| Contributions | 10/11 | €1,890,000 | €1,890,000 | = | 0.0% |
| Capital | 10 | €1,890,000 | €1,890,000 | = | 0.0% |
| Issued capital | 100 | €1,890,000 | €1,890,000 | = | 0.0% |
| Reserves | 13 | €140,631 | €145,241 | +€4,610 | +3.3% |
| Non-distributable reserves | 130/1 | €10,605 | €18,900 | +€8,295 | +78.2% |
| Legal reserve | 130 | €10,605 | €18,900 | +€8,295 | +78.2% |
| Tax-exempt reserves | 132 | €122,212 | €87,604 | -€34,607 | -28.3% |
| Distributable reserves | 133 | €7,814 | €38,736 | +€30,922 | +396% |
| Provisions and deferred taxes | 16 | €40,737 | €29,201 | -€11,536 | -28.3% |
| Deferred taxes | 168 | €40,737 | €29,201 | -€11,536 | -28.3% |
| Amounts payable | 17/49 | €2,033,303 | €1,823,912 | -€209,391 | -10.3% |
| Amounts payable after more than one year | 17 | €83,745 | €23,963 | -€59,783 | -71.4% |
| Financial debts | 170/4 | €59,783 | - | -€59,783 | |
| Other amounts payable | 178/9 | €23,963 | €23,963 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,949,557 | €1,799,949 | -€149,608 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €2,748 | €22,227 | +€19,479 | +709% |
| Financial debts | 43 | €4 | - | -€4 | |
| Credit institutions | 430/8 | €4 | - | -€4 | |
| Trade debts | 44 | €40,107 | €8,140 | -€31,967 | -79.7% |
| Suppliers | 440/4 | €40,107 | €8,140 | -€31,967 | -79.7% |
| Taxes, remuneration and social security | 45 | - | €6,940 | +€6,940 | |
| Taxes | 450/3 | - | €6,940 | +€6,940 | |
| Other amounts payable | 47/48 | €1,906,699 | €1,762,642 | -€144,057 | -7.6% |
| Non-recurring operating income | 76A | - | €4,631 | +€4,631 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,427 | €136,628 | +€10,201 | +8.1% |
| Other operating charges | 640/8 | €18,659 | €22,160 | +€3,501 | +18.8% |
| Gross operating margin | 9900 | €138,837 | €160,964 | +€22,127 | +15.9% |
| Operating profit (loss) | 9901 | -€6,250 | €2,176 | +€8,425 | |
| Financial charges | 65/66B | €2,032 | €2,162 | +€130 | +6.4% |
| Recurring financial charges | 65 | €2,032 | €2,162 | +€130 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | -€8,281 | €14 | +€8,296 | |
| Transfer from deferred taxes | 780 | €11,536 | €11,536 | = | 0.0% |
| Income taxes | 67/77 | - | €6,940 | +€6,940 | |
| Profit (loss) for the period | 9904 | €3,254 | €4,610 | +€1,355 | +41.6% |
| Transfer from tax-exempt reserves | 789 | €34,607 | €34,607 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,862 | €39,217 | +€1,355 | +3.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.