IMMO HORTUS: 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 HORTUS
Largest movements
- Receivables within one year -€37,650
down €37,650 (-88.9%), from €42,340 to €4,690
of which Other amounts receivable: -€37,650
- Cash +€36,245
up €36,245 (+130%), from €27,786 to €64,031
mainly Net result for the year (+€125,663) and Other debts (+€106,813)
- Deferred charges and accrued income +€24,811
new in 2025: €24,811
- Other debts +€106,813
new in 2025: €106,813
- Debts after one year -€106,138
down €106,138 (-11.0%), from €969,072 to €862,934
- Depreciation -€60,799
down €60,799 (-100%), from €60,799 to €0
- Gross operating margin +€26,269
up €26,269 (+16.9%), from €155,412 to €181,681
- Taxes +€16,902
up €16,902 (+67.2%), from €25,159 to €42,061
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 | €2,105,091 | €2,128,497 | +€23,406 | +1.1% |
| Fixed assets | 21/28 | €2,034,965 | €2,034,965 | = | 0.0% |
| Tangible fixed assets | 22/27 | €2,034,965 | €2,034,965 | = | 0.0% |
| Land and buildings | 22 | €2,034,965 | €2,034,965 | = | 0.0% |
| Current assets | 29/58 | €70,126 | €93,532 | +€23,406 | +33.4% |
| Amounts receivable within one year | 40/41 | €42,340 | €4,690 | -€37,650 | -88.9% |
| Trade receivables | 40 | €1,427 | €1,427 | = | 0.0% |
| Other amounts receivable | 41 | €40,913 | €3,263 | -€37,650 | -92.0% |
| Cash at bank and in hand | 54/58 | €27,786 | €64,031 | +€36,245 | +130% |
| Deferred charges and accrued income | 490/1 | - | €24,811 | +€24,811 | |
| Total equity and liabilities | 10/49 | €2,105,091 | €2,128,497 | +€23,406 | +1.1% |
| Equity | 10/15 | €1,009,421 | €1,009,421 | = | 0.0% |
| Contributions | 10/11 | €700,000 | €700,000 | = | 0.0% |
| Reserves | 13 | €309,421 | €309,421 | = | 0.0% |
| Distributable reserves | 133 | €309,421 | €309,421 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,095,670 | €1,119,076 | +€23,406 | +2.1% |
| Amounts payable after more than one year | 17 | €969,072 | €862,934 | -€106,138 | -11.0% |
| Financial debts | 170/4 | €969,072 | €862,934 | -€106,138 | -11.0% |
| Amounts payable within one year | 42/48 | €126,597 | €256,141 | +€129,544 | +102% |
| Current portion of amounts payable after more than one year | 42 | €116,438 | €118,138 | +€1,700 | +1.5% |
| Trade debts | 44 | €0 | €280 | +€280 | |
| Suppliers | 440/4 | €0 | €280 | +€280 | |
| Taxes, remuneration and social security | 45 | €10,159 | €30,911 | +€20,752 | +204% |
| Taxes | 450/3 | €10,159 | €30,911 | +€20,752 | +204% |
| Other amounts payable | 47/48 | - | €106,813 | +€106,813 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,799 | €0 | -€60,799 | -100% |
| Other operating charges | 640/8 | €118 | €231 | +€113 | +96.0% |
| Gross operating margin | 9900 | €155,412 | €181,681 | +€26,269 | +16.9% |
| Operating profit (loss) | 9901 | €94,495 | €181,450 | +€86,955 | +92.0% |
| Financial charges | 65/66B | €15,424 | €13,726 | -€1,698 | -11.0% |
| Recurring financial charges | 65 | €15,424 | €13,726 | -€1,698 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €79,071 | €167,724 | +€88,653 | +112% |
| Income taxes | 67/77 | €25,159 | €42,061 | +€16,902 | +67.2% |
| Profit (loss) for the period | 9904 | €53,912 | €125,663 | +€71,751 | +133% |
| Profit (loss) for the period to be appropriated | 9905 | €53,912 | €125,663 | +€71,751 | +133% |
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 19 October 2026 via checked.be.