Immo Herckenrode: 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 Herckenrode
Largest movements
- Cash -€214,074
down €214,074 (-29.1%), from €734,568 to €520,494
mainly Other debts (-€197,749) and Investment in fixed assets (net) (-€63,778)
- Tangible fixed assets -€39,749
down €39,749 (-1.7%), from €2.3m to €2.3m
- Other debts -€197,749
down €197,749 (-10.7%), from €1.9m to €1.7m
- Debts after one year -€60,933
down €60,933 (-13.6%), from €447,703 to €386,770
- Gross operating margin -€23,625
down €23,625 (-11.1%), from €213,668 to €190,043
- Financial charges -€15,299
down €15,299 (-21.2%), from €72,257 to €56,958
- Depreciation +€5,963
up €5,963 (+6.1%), from €97,564 to €103,527
- Taxes -€2,293
down €2,293 (-100%), from €2,293 to €0
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 | €3,069,545 | €2,798,734 | -€270,811 | -8.8% |
| Fixed assets | 21/28 | €2,312,695 | €2,272,946 | -€39,749 | -1.7% |
| Tangible fixed assets | 22/27 | €2,312,695 | €2,272,946 | -€39,749 | -1.7% |
| Land and buildings | 22 | €2,312,695 | €2,272,946 | -€39,749 | -1.7% |
| Current assets | 29/58 | €756,850 | €525,788 | -€231,062 | -30.5% |
| Amounts receivable within one year | 40/41 | €6,122 | €4,500 | -€1,622 | -26.5% |
| Trade receivables | 40 | €800 | - | -€800 | |
| Other amounts receivable | 41 | €5,322 | €4,500 | -€822 | -15.4% |
| Cash at bank and in hand | 54/58 | €734,568 | €520,494 | -€214,074 | -29.1% |
| Deferred charges and accrued income | 490/1 | €16,160 | €794 | -€15,366 | -95.1% |
| Total equity and liabilities | 10/49 | €3,069,545 | €2,798,734 | -€270,811 | -8.8% |
| Equity | 10/15 | €675,517 | €665,374 | -€10,143 | -1.5% |
| Contributions | 10/11 | €245,000 | €245,000 | = | 0.0% |
| Capital | 10 | €245,000 | €245,000 | = | 0.0% |
| Issued capital | 100 | €245,000 | €245,000 | = | 0.0% |
| Reserves | 13 | €430,517 | €427,738 | -€2,779 | -0.6% |
| Non-distributable reserves | 130/1 | €26,501 | €26,501 | = | 0.0% |
| Legal reserve | 130 | €26,501 | €26,501 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,010 | €22,231 | -€2,779 | -11.1% |
| Distributable reserves | 133 | €379,007 | €379,007 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€7,364 | -€7,364 | |
| Provisions and deferred taxes | 16 | €12,878 | €11,447 | -€1,431 | -11.1% |
| Deferred taxes | 168 | €12,878 | €11,447 | -€1,431 | -11.1% |
| Amounts payable | 17/49 | €2,381,150 | €2,121,913 | -€259,237 | -10.9% |
| Amounts payable after more than one year | 17 | €447,703 | €386,770 | -€60,933 | -13.6% |
| Financial debts | 170/4 | €447,703 | €386,770 | -€60,933 | -13.6% |
| Amounts payable within one year | 42/48 | €1,915,751 | €1,727,353 | -€188,398 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €59,868 | €60,933 | +€1,065 | +1.8% |
| Trade debts | 44 | - | €10,580 | +€10,580 | |
| Suppliers | 440/4 | - | €10,580 | +€10,580 | |
| Taxes, remuneration and social security | 45 | €2,293 | - | -€2,293 | |
| Taxes | 450/3 | €2,293 | - | -€2,293 | |
| Other amounts payable | 47/48 | €1,853,590 | €1,655,840 | -€197,749 | -10.7% |
| Accrued charges and deferred income | 492/3 | €17,696 | €7,790 | -€9,906 | -56.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,564 | €103,527 | +€5,963 | +6.1% |
| Other operating charges | 640/8 | €39,726 | €41,140 | +€1,414 | +3.6% |
| Gross operating margin | 9900 | €213,668 | €190,043 | -€23,625 | -11.1% |
| Operating profit (loss) | 9901 | €76,378 | €45,376 | -€31,002 | -40.6% |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €72,257 | €56,958 | -€15,299 | -21.2% |
| Recurring financial charges | 65 | €72,257 | €56,958 | -€15,299 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €4,121 | -€11,574 | -€15,695 | |
| Transfer from deferred taxes | 780 | €1,431 | €1,431 | = | 0.0% |
| Income taxes | 67/77 | €2,293 | €0 | -€2,293 | -100% |
| Profit (loss) for the period | 9904 | €3,259 | -€10,143 | -€13,402 | |
| Transfer from tax-exempt reserves | 789 | €2,779 | €2,779 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,038 | -€7,364 | -€13,402 |
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 22 October 2026 via checked.be.