Immo Heze: 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 Heze
Largest movements
- Receivables after one year -€51,000
down €51,000 (-3.7%), from €1.4m to €1.3m
- Reserves -€355,656
down €355,656 (-84.9%), from €418,996 to €63,340
- Other debts +€210,800
up €210,800 (+39.4%), from €535,000 to €745,800
- Current portion of long-term debt +€116,956
up €116,956 (+559%), from €20,912 to €137,868
- Trade debts -€74,139
down €74,139 (-99.6%), from €74,455 to €316
- Tax, wage and social debts +€47,159
up €47,159 (+40.6%), from €116,138 to €163,296
- Gross operating margin -€639,564
down €639,564 (-94.4%), from €677,441 to €37,877
- Taxes -€116,287
down €116,287, from €116,138 to -€149
- Financial charges +€19,262
up €19,262 (+46.3%), from €41,623 to €60,885
- Depreciation +€11,962
up €11,962 (+59.1%), from €20,231 to €32,193
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 | €2,726,440 | €2,642,722 | -€83,717 | -3.1% |
| Fixed assets | 21/28 | €1,165,054 | €1,144,156 | -€20,898 | -1.8% |
| Tangible fixed assets | 22/27 | €1,165,054 | €1,144,156 | -€20,898 | -1.8% |
| Land and buildings | 22 | €1,165,054 | €1,144,156 | -€20,898 | -1.8% |
| Current assets | 29/58 | €1,561,386 | €1,498,566 | -€62,819 | -4.0% |
| Amounts receivable after more than one year | 29 | €1,376,750 | €1,325,750 | -€51,000 | -3.7% |
| Other amounts receivable | 291 | €1,376,750 | €1,325,750 | -€51,000 | -3.7% |
| Amounts receivable within one year | 40/41 | €30,248 | €18,287 | -€11,961 | -39.5% |
| Trade receivables | 40 | €14,145 | €14,287 | +€142 | +1.0% |
| Other amounts receivable | 41 | €16,103 | €4,000 | -€12,103 | -75.2% |
| Cash at bank and in hand | 54/58 | €153,934 | €154,058 | +€124 | +0.1% |
| Deferred charges and accrued income | 490/1 | €454 | €472 | +€18 | +3.9% |
| Total equity and liabilities | 10/49 | €2,726,440 | €2,642,722 | -€83,717 | -3.1% |
| Equity | 10/15 | €498,996 | €143,340 | -€355,656 | -71.3% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €418,996 | €63,340 | -€355,656 | -84.9% |
| Distributable reserves | 133 | €418,996 | €63,340 | -€355,656 | -84.9% |
| Amounts payable | 17/49 | €2,227,443 | €2,499,382 | +€271,939 | +12.2% |
| Amounts payable after more than one year | 17 | €618,981 | €597,101 | -€21,880 | -3.5% |
| Financial debts | 170/4 | €618,981 | €597,101 | -€21,880 | -3.5% |
| Amounts payable within one year | 42/48 | €1,608,462 | €1,902,281 | +€293,819 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €20,912 | €137,868 | +€116,956 | +559% |
| Financial debts | 43 | €855,000 | €855,000 | = | 0.0% |
| Credit institutions | 430/8 | €855,000 | €855,000 | = | 0.0% |
| Trade debts | 44 | €74,455 | €316 | -€74,139 | -99.6% |
| Suppliers | 440/4 | €74,455 | €316 | -€74,139 | -99.6% |
| Advances received on contracts in progress | 46 | €6,958 | - | -€6,958 | |
| Taxes, remuneration and social security | 45 | €116,138 | €163,296 | +€47,159 | +40.6% |
| Taxes | 450/3 | €116,138 | €163,296 | +€47,159 | +40.6% |
| Other amounts payable | 47/48 | €535,000 | €745,800 | +€210,800 | +39.4% |
| Non-recurring operating income | 76A | €683,808 | - | -€683,808 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,231 | €32,193 | +€11,962 | +59.1% |
| Other operating charges | 640/8 | €1,365 | €604 | -€761 | -55.7% |
| Gross operating margin | 9900 | €677,441 | €37,877 | -€639,564 | -94.4% |
| Operating profit (loss) | 9901 | €655,845 | €5,080 | -€650,765 | -99.2% |
| Financial charges | 65/66B | €41,623 | €60,885 | +€19,262 | +46.3% |
| Recurring financial charges | 65 | €41,623 | €60,885 | +€19,262 | +46.3% |
| Profit (loss) for the period before taxes | 9903 | €614,222 | -€55,805 | -€670,027 | |
| Income taxes | 67/77 | €116,138 | -€149 | -€116,287 | |
| Profit (loss) for the period | 9904 | €498,085 | -€55,656 | -€553,741 | |
| Profit (loss) for the period to be appropriated | 9905 | €498,085 | -€55,656 | -€553,741 |
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 17 October 2026 via checked.be.