IMMO HORECA: what changed
Two fiscal 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 HORECA
Largest movements
- Tangible fixed assets -€470,799
down €470,799 (-21.2%), from €2.2m to €1.7m
of which Land and buildings: -€422,835
- Cash -€147,290
down €147,290 (-69.7%), from €211,254 to €63,964
mainly Debts after one year (-€424,147) and Other debts (-€105,835)
- Debts after one year -€424,147
down €424,147 (-33.6%), from €1.3m to €838,410
- Other debts -€105,835
down €105,835 (-27.8%), from €381,230 to €275,395
- Reserves -€92,116
down €92,116 (-11.2%), from €819,378 to €727,262
of which Tax-exempt reserves: -€115,318
- Provisions -€38,439
down €38,439 (-26.0%), from €147,638 to €109,199
- Gross operating margin -€28,073
down €28,073 (-17.9%), from €157,056 to €128,983
- Depreciation +€9,978
up €9,978 (+6.3%), from €158,205 to €168,183
- Financial charges +€8,233
up €8,233 (+18.0%), from €45,695 to €53,929
- Other operating charges +€3,040
up €3,040 (+25.7%), from €11,838 to €14,877
- Taxes +€2,408
new in 2025: €2,408
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 | €2,785,332 | €2,154,697 | -€630,635 | -22.6% |
| Fixed assets | 21/28 | €2,220,798 | €1,749,999 | -€470,799 | -21.2% |
| Tangible fixed assets | 22/27 | €2,220,798 | €1,749,999 | -€470,799 | -21.2% |
| Land and buildings | 22 | €2,105,172 | €1,682,337 | -€422,835 | -20.1% |
| Furniture and vehicles | 24 | €115,626 | €67,662 | -€47,964 | -41.5% |
| Current assets | 29/58 | €564,534 | €404,698 | -€159,836 | -28.3% |
| Amounts receivable after more than one year | 29 | €72,800 | €56,000 | -€16,800 | -23.1% |
| Other amounts receivable | 291 | €72,800 | €56,000 | -€16,800 | -23.1% |
| Amounts receivable within one year | 40/41 | €17,068 | €32,039 | +€14,971 | +87.7% |
| Trade receivables | 40 | €268 | €0 | -€268 | -100.0% |
| Other amounts receivable | 41 | €16,800 | €32,039 | +€15,239 | +90.7% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €211,254 | €63,964 | -€147,290 | -69.7% |
| Deferred charges and accrued income | 490/1 | €13,412 | €2,695 | -€10,717 | -79.9% |
| Total equity and liabilities | 10/49 | €2,785,332 | €2,154,697 | -€630,635 | -22.6% |
| Equity | 10/15 | €861,587 | €789,353 | -€72,235 | -8.4% |
| Contributions | 10/11 | €68,220 | €62,018 | -€6,202 | -9.1% |
| Reserves | 13 | €819,378 | €727,262 | -€92,116 | -11.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €442,915 | €327,597 | -€115,318 | -26.0% |
| Distributable reserves | 133 | €376,464 | €399,665 | +€23,202 | +6.2% |
| Profit (loss) carried forward | 14 | -€26,011 | €72 | +€26,083 | |
| Provisions and deferred taxes | 16 | €147,638 | €109,199 | -€38,439 | -26.0% |
| Deferred taxes | 168 | €147,638 | €109,199 | -€38,439 | -26.0% |
| Amounts payable | 17/49 | €1,776,106 | €1,256,145 | -€519,961 | -29.3% |
| Amounts payable after more than one year | 17 | €1,262,557 | €838,410 | -€424,147 | -33.6% |
| Financial debts | 170/4 | €1,262,557 | €838,410 | -€424,147 | -33.6% |
| Amounts payable within one year | 42/48 | €497,558 | €394,786 | -€102,772 | -20.7% |
| Current portion of amounts payable after more than one year | 42 | €105,517 | €91,720 | -€13,798 | -13.1% |
| Trade debts | 44 | €10,811 | €25,672 | +€14,861 | +137.5% |
| Suppliers | 440/4 | €10,811 | €25,672 | +€14,861 | +137.5% |
| Taxes, remuneration and social security | 45 | - | €2,000 | +€2,000 | |
| Taxes | 450/3 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €381,230 | €275,395 | -€105,835 | -27.8% |
| Accrued charges and deferred income | 492/3 | €15,991 | €22,949 | +€6,958 | +43.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €158,205 | €168,183 | +€9,978 | +6.3% |
| Other operating charges | 640/8 | €11,838 | €14,877 | +€3,040 | +25.7% |
| Non-recurring operating charges | 66A | - | €315 | +€315 | |
| Gross operating margin | 9900 | €157,056 | €128,983 | -€28,073 | -17.9% |
| Operating profit (loss) | 9901 | -€12,987 | -€54,392 | -€41,405 | -318.8% |
| Financial income | 75/76B | €5 | €54 | +€50 | +1075.8% |
| Recurring financial income | 75 | €5 | €54 | +€50 | +1075.8% |
| Financial charges | 65/66B | €45,695 | €53,929 | +€8,233 | +18.0% |
| Recurring financial charges | 65 | €45,695 | €53,929 | +€8,233 | +18.0% |
| Profit (loss) for the period before taxes | 9903 | -€58,677 | -€108,266 | -€49,589 | -84.5% |
| Transfer from deferred taxes | 780 | €36,617 | €38,439 | +€1,823 | +5.0% |
| Income taxes | 67/77 | - | €2,408 | +€2,408 | |
| Profit (loss) for the period | 9904 | -€22,061 | -€72,235 | -€50,174 | -227.4% |
| Transfer from tax-exempt reserves | 789 | €33,606 | €115,318 | +€81,711 | +243.1% |
| Transfer to tax-exempt reserves | 689 | €25,414 | €0 | -€25,414 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,869 | €43,083 | +€56,952 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.