IMMO HOUBLONNIERE: 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.
What changed
IMMO HOUBLONNIERE
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€933
2024 · €1,079-€146
Equity
€282,921
2024 · €290,516-€7,595
Cash
€6,854
2024 · €7,415-€561
Balance sheet total
€684,568
2024 · €681,767+€2,801
Largest movements
Assets
- Tangible fixed assets +€8,089
up €8,089 (+1.2%), from €667,885 to €675,974
of which Land and buildings: +€8,631
Equity and liabilities
- Debts after one year +€9,164
up €9,164 (+3.3%), from €280,228 to €289,392
- Reserves -€7,595
down €7,595 (-3.3%), from €227,303 to €219,708
of which Tax-exempt reserves: -€8,044
Income statement
- Turnover +€4,768
up €4,768 (+9.2%), from €51,777 to €56,545
- Gross operating margin +€2,571
up €2,571 (+6.3%), from €40,641 to €43,213
- Depreciation +€1,283
up €1,283 (+5.4%), from €23,961 to €25,244
- Other operating charges +€1,081
up €1,081 (+28.1%), from €3,842 to €4,923
- Purchases and services +€1,020
up €1,020 (+7.2%), from €14,152 to €15,172
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.
Result 2024
€1,079
Gross operating margin
+€2,571
Depreciation
-€1,283
Other operating charges
-€1,081
Financial charges
-€390
Taxes
+€37
Result 2025
€933
raises the resultlowers the result
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.
From operations
+€28,294
Investment
-€33,333
Financing
+€4,478
Cash 2024
€7,415
From operations (derived)
+€28,294
Net result for the year
+€933
Depreciation
+€25,244
Receivables within one year
+€4,781
Smaller working-capital items
-€130
Provisions
-€2,681
Trade debts
+€154
Other debts
-€415
Accrued charges and deferred income
+€408
Investment (derived)
-€33,333
Investment in fixed assets (net)
-€33,333
Financing
+€4,478
Debts after one year
+€9,164
Current portion of long-term debt
+€3,032
Short-term financial debts
+€810
Contributions, distributions and other
-€8,528
Cash 2025
€6,854
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €681,767 | €684,568 | +€2,801 | +0.4% |
| Fixed assets | 21/28 | €667,885 | €675,974 | +€8,089 | +1.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €667,885 | €675,974 | +€8,089 | +1.2% |
| Land and buildings | 22 | €652,306 | €660,937 | +€8,631 | +1.3% |
| Plant, machinery and equipment | 23 | €15,579 | €15,036 | -€543 | -3.5% |
| Current assets | 29/58 | €13,882 | €8,594 | -€5,288 | -38.1% |
| Amounts receivable within one year | 40/41 | €5,351 | €570 | -€4,781 | -89.3% |
| Other amounts receivable | 41 | €5,351 | €570 | -€4,781 | -89.3% |
| Cash at bank and in hand | 54/58 | €7,415 | €6,854 | -€561 | -7.6% |
| Deferred charges and accrued income | 490/1 | €1,116 | €1,170 | +€54 | +4.9% |
| Total equity and liabilities | 10/49 | €681,767 | €684,568 | +€2,801 | +0.4% |
| Equity | 10/15 | €290,516 | €282,921 | -€7,595 | -2.6% |
| Contributions | 10/11 | €63,213 | €63,213 | = | 0.0% |
| Capital | 10 | €63,213 | €63,213 | = | 0.0% |
| Issued capital | 100 | €63,213 | €63,213 | = | 0.0% |
| Reserves | 13 | €227,303 | €219,708 | -€7,595 | -3.3% |
| Non-distributable reserves | 130/1 | €459 | €908 | +€449 | +97.7% |
| Legal reserve | 130 | €459 | €908 | +€449 | +97.7% |
| Tax-exempt reserves | 132 | €226,843 | €218,800 | -€8,044 | -3.5% |
| Provisions and deferred taxes | 16 | €75,614 | €72,933 | -€2,681 | -3.5% |
| Deferred taxes | 168 | €75,614 | €72,933 | -€2,681 | -3.5% |
| Amounts payable | 17/49 | €315,637 | €328,713 | +€13,077 | +4.1% |
| Amounts payable after more than one year | 17 | €280,228 | €289,392 | +€9,164 | +3.3% |
| Financial debts | 170/4 | €280,228 | €289,392 | +€9,164 | +3.3% |
| Amounts payable within one year | 42/48 | €34,919 | €38,424 | +€3,505 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €12,639 | €15,671 | +€3,032 | +24.0% |
| Financial debts | 43 | €1,916 | €2,726 | +€810 | +42.3% |
| Credit institutions | 430/8 | €186 | €205 | +€19 | +10.2% |
| Other loans | 439 | €1,730 | €2,521 | +€791 | +45.7% |
| Trade debts | 44 | €6,869 | €7,023 | +€154 | +2.2% |
| Suppliers | 440/4 | €6,869 | €7,023 | +€154 | +2.2% |
| Taxes, remuneration and social security | 45 | €5,831 | €5,755 | -€76 | -1.3% |
| Taxes | 450/3 | €5,831 | €5,755 | -€76 | -1.3% |
| Other amounts payable | 47/48 | €7,664 | €7,249 | -€415 | -5.4% |
| Accrued charges and deferred income | 492/3 | €490 | €898 | +€408 | +83.3% |
| Turnover | 70 | €51,777 | €56,545 | +€4,768 | +9.2% |
| Non-recurring operating income | 76A | €3,017 | €1,840 | -€1,177 | -39.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €14,152 | €15,172 | +€1,020 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,961 | €25,244 | +€1,283 | +5.4% |
| Other operating charges | 640/8 | €3,842 | €4,923 | +€1,081 | +28.1% |
| Gross operating margin | 9900 | €40,641 | €43,213 | +€2,571 | +6.3% |
| Operating profit (loss) | 9901 | €12,839 | €13,046 | +€207 | +1.6% |
| Financial charges | 65/66B | €11,017 | €11,407 | +€390 | +3.5% |
| Recurring financial charges | 65 | €11,017 | €11,407 | +€390 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €1,822 | €1,639 | -€183 | -10.0% |
| Transfer from deferred taxes | 780 | €2,681 | €2,681 | = | 0.0% |
| Income taxes | 67/77 | €3,424 | €3,387 | -€37 | -1.1% |
| Profit (loss) for the period | 9904 | €1,079 | €933 | -€146 | -13.5% |
| Transfer from tax-exempt reserves | 789 | €8,044 | €8,044 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,122 | €8,977 | -€146 | -1.6% |
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 29 October 2026 via checked.be.