IMMO HENRICO: 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 HENRICO
Largest movements
- Tangible fixed assets +€57,039
up €57,039 (+5.8%), from €984,837 to €1.0m
of which Land and buildings: +€57,188
- Receivables within one year +€43,205
new in 2025: €43,205
- Cash -€39,533
down €39,533 (-66.7%), from €59,277 to €19,744
mainly Investment in fixed assets (net) (-€97,295) and Receivables within one year (-€43,205)
- Debts after one year +€77,072
up €77,072 (+13.7%), from €564,430 to €641,502
- Current portion of long-term debt +€11,744
up €11,744 (+22.4%), from €52,386 to €64,130
- Gross operating margin +€17,019
up €17,019 (+31.4%), from €54,252 to €71,271
- Financial charges +€8,881
up €8,881 (+38.4%), from €23,142 to €32,023
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 | €1,044,114 | €1,104,825 | +€60,711 | +5.8% |
| Fixed assets | 21/28 | €984,837 | €1,041,876 | +€57,039 | +5.8% |
| Tangible fixed assets | 22/27 | €984,837 | €1,041,876 | +€57,039 | +5.8% |
| Land and buildings | 22 | €984,238 | €1,041,426 | +€57,188 | +5.8% |
| Plant, machinery and equipment | 23 | €600 | €450 | -€150 | -25.0% |
| Current assets | 29/58 | €59,277 | €62,949 | +€3,672 | +6.2% |
| Amounts receivable within one year | 40/41 | - | €43,205 | +€43,205 | |
| Other amounts receivable | 41 | - | €43,205 | +€43,205 | |
| Cash at bank and in hand | 54/58 | €59,277 | €19,744 | -€39,533 | -66.7% |
| Total equity and liabilities | 10/49 | €1,044,114 | €1,104,825 | +€60,711 | +5.8% |
| Equity | 10/15 | €387,660 | €381,155 | -€6,505 | -1.7% |
| Contributions | 10/11 | €212,000 | €212,000 | = | 0.0% |
| Capital | 10 | €212,000 | €212,000 | = | 0.0% |
| Issued capital | 100 | €212,000 | €212,000 | = | 0.0% |
| Reserves | 13 | €25,269 | €19,134 | -€6,135 | -24.3% |
| Non-distributable reserves | 130/1 | €13,000 | €13,000 | = | 0.0% |
| Legal reserve | 130 | €13,000 | €13,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,269 | €6,134 | -€6,135 | -50.0% |
| Profit (loss) carried forward | 14 | €150,391 | €150,021 | -€370 | -0.2% |
| Provisions and deferred taxes | 16 | €4,090 | €2,045 | -€2,045 | -50.0% |
| Deferred taxes | 168 | €4,090 | €2,045 | -€2,045 | -50.0% |
| Amounts payable | 17/49 | €652,364 | €721,626 | +€69,261 | +10.6% |
| Amounts payable after more than one year | 17 | €564,430 | €641,502 | +€77,072 | +13.7% |
| Financial debts | 170/4 | €564,430 | €641,502 | +€77,072 | +13.7% |
| Amounts payable within one year | 42/48 | €65,329 | €67,434 | +€2,105 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €52,386 | €64,130 | +€11,744 | +22.4% |
| Trade debts | 44 | €5,861 | €399 | -€5,462 | -93.2% |
| Suppliers | 440/4 | €5,861 | €399 | -€5,462 | -93.2% |
| Taxes, remuneration and social security | 45 | €2,000 | €2,000 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €5,082 | €905 | -€4,177 | -82.2% |
| Accrued charges and deferred income | 492/3 | €22,605 | €12,690 | -€9,915 | -43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,256 | €40,256 | +€0 | 0.0% |
| Other operating charges | 640/8 | €7,458 | €7,555 | +€97 | +1.3% |
| Gross operating margin | 9900 | €54,252 | €71,271 | +€17,019 | +31.4% |
| Operating profit (loss) | 9901 | €6,538 | €23,460 | +€16,922 | +258.8% |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €23,142 | €32,023 | +€8,881 | +38.4% |
| Recurring financial charges | 65 | €23,142 | €32,023 | +€8,881 | +38.4% |
| Profit (loss) for the period before taxes | 9903 | -€16,605 | -€8,551 | +€8,054 | +48.5% |
| Transfer from deferred taxes | 780 | €2,045 | €2,045 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€14,559 | -€6,505 | +€8,054 | +55.3% |
| Transfer from tax-exempt reserves | 789 | €6,135 | €6,135 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,424 | -€370 | +€8,054 | +95.6% |
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 12 October 2026 via checked.be.