Immo Hertevelden: 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 Hertevelden
Largest movements
- Tangible fixed assets +€569,565
up €569,565 (+66.4%), from €857,641 to €1.4m
of which Land and buildings: +€1.0m
- Cash -€44,375
down €44,375 (-57.7%), from €76,925 to €32,551
mainly Investment in fixed assets (net) (-€580,066) and Net result for the year (-€147,981)
- Debts after one year +€494,514
up €494,514 (+109%), from €455,430 to €949,944
- Other debts +€155,000
up €155,000 (+26.7%), from €581,031 to €736,031
- Profit (loss) carried forward -€147,981
down €147,981 (-67.0%), from -€220,949 to -€368,930
- Current portion of long-term debt +€23,816
up €23,816 (+134%), from €17,832 to €41,649
- Gross operating margin +€29,871
up €29,871, from -€20,637 to €9,234
- Other operating charges +€29,108
up €29,108 (+31.1%), from €93,607 to €122,715
- Financial charges +€15,442
up €15,442 (+180%), from €8,557 to €23,999
- Depreciation +€10,502
new in 2025: €10,502
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 | €934,567 | €1,465,257 | +€530,690 | +56.8% |
| Fixed assets | 21/28 | €857,641 | €1,427,206 | +€569,565 | +66.4% |
| Tangible fixed assets | 22/27 | €857,641 | €1,427,206 | +€569,565 | +66.4% |
| Land and buildings | 22 | €400,000 | €1,427,206 | +€1.0m | +257% |
| Assets under construction and advance payments | 27 | €457,641 | €0 | -€457,641 | -100% |
| Current assets | 29/58 | €76,925 | €38,051 | -€38,875 | -50.5% |
| Amounts receivable within one year | 40/41 | - | €5,500 | +€5,500 | |
| Other amounts receivable | 41 | - | €5,500 | +€5,500 | |
| Cash at bank and in hand | 54/58 | €76,925 | €32,551 | -€44,375 | -57.7% |
| Total equity and liabilities | 10/49 | €934,567 | €1,465,257 | +€530,690 | +56.8% |
| Equity | 10/15 | -€120,149 | -€268,130 | -€147,981 | -123% |
| Contributions | 10/11 | €100,800 | €100,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€220,949 | -€368,930 | -€147,981 | -67.0% |
| Amounts payable | 17/49 | €1,054,715 | €1,733,387 | +€678,671 | +64.3% |
| Amounts payable after more than one year | 17 | €455,430 | €949,944 | +€494,514 | +109% |
| Financial debts | 170/4 | €455,430 | €949,944 | +€494,514 | +109% |
| Amounts payable within one year | 42/48 | €599,285 | €783,443 | +€184,158 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €17,832 | €41,649 | +€23,816 | +134% |
| Trade debts | 44 | €422 | €5,763 | +€5,341 | +1,266% |
| Suppliers | 440/4 | €422 | €5,763 | +€5,341 | +1,266% |
| Other amounts payable | 47/48 | €581,031 | €736,031 | +€155,000 | +26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €10,502 | +€10,502 | |
| Other operating charges | 640/8 | €93,607 | €122,715 | +€29,108 | +31.1% |
| Gross operating margin | 9900 | -€20,637 | €9,234 | +€29,871 | |
| Operating profit (loss) | 9901 | -€114,244 | -€123,982 | -€9,738 | -8.5% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €8,557 | €23,999 | +€15,442 | +180% |
| Recurring financial charges | 65 | €8,557 | €23,999 | +€15,442 | +180% |
| Profit (loss) for the period before taxes | 9903 | -€122,800 | -€147,981 | -€25,182 | -20.5% |
| Profit (loss) for the period | 9904 | -€122,800 | -€147,981 | -€25,182 | -20.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€122,800 | -€147,981 | -€25,182 | -20.5% |
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 25 October 2026 via checked.be.