IMMO HULSHOUT: 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 HULSHOUT
Largest movements
- Cash +€18,791
up €18,791 (+27.2%), from €69,090 to €87,881
mainly Receivables within one year (+€10,236) and Depreciation (+€8,478)
- Receivables within one year -€10,236
down €10,236 (-27.9%), from €36,685 to €26,448
of which Other amounts receivable: -€13,815
- Tangible fixed assets -€8,478
down €8,478 (-4.0%), from €213,507 to €205,029
- Trade debts -€14,724
down €14,724 (-96.1%), from €15,326 to €602
- Profit (loss) carried forward +€8,182
up €8,182 (+2.9%), from €285,956 to €294,138
- Tax, wage and social debts +€6,619
new in 2025: €6,619
- Gross operating margin -€10,894
down €10,894 (-36.5%), from €29,806 to €18,913
- Depreciation +€561
up €561 (+7.1%), from €7,917 to €8,478
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 | €319,282 | €319,358 | +€77 | 0.0% |
| Fixed assets | 21/28 | €213,507 | €205,029 | -€8,478 | -4.0% |
| Tangible fixed assets | 22/27 | €213,507 | €205,029 | -€8,478 | -4.0% |
| Land and buildings | 22 | €213,507 | €205,029 | -€8,478 | -4.0% |
| Current assets | 29/58 | €105,775 | €114,329 | +€8,555 | +8.1% |
| Amounts receivable within one year | 40/41 | €36,685 | €26,448 | -€10,236 | -27.9% |
| Trade receivables | 40 | €19,539 | €23,117 | +€3,578 | +18.3% |
| Other amounts receivable | 41 | €17,146 | €3,331 | -€13,815 | -80.6% |
| Cash at bank and in hand | 54/58 | €69,090 | €87,881 | +€18,791 | +27.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €319,282 | €319,358 | +€77 | 0.0% |
| Equity | 10/15 | €303,956 | €312,138 | +€8,182 | +2.7% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €285,956 | €294,138 | +€8,182 | +2.9% |
| Amounts payable | 17/49 | €15,326 | €7,221 | -€8,105 | -52.9% |
| Amounts payable within one year | 42/48 | €15,326 | €7,221 | -€8,105 | -52.9% |
| Trade debts | 44 | €15,326 | €602 | -€14,724 | -96.1% |
| Suppliers | 440/4 | €15,326 | €602 | -€14,724 | -96.1% |
| Taxes, remuneration and social security | 45 | - | €6,619 | +€6,619 | |
| Taxes | 450/3 | - | €6,619 | +€6,619 | |
| Non-recurring operating income | 76A | €92 | €0 | -€92 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,917 | €8,478 | +€561 | +7.1% |
| Other operating charges | 640/8 | €1,587 | €1,803 | +€216 | +13.6% |
| Gross operating margin | 9900 | €29,806 | €18,913 | -€10,894 | -36.5% |
| Operating profit (loss) | 9901 | €20,303 | €8,632 | -€11,671 | -57.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €243 | €156 | -€87 | -35.8% |
| Recurring financial charges | 65 | €243 | €156 | -€87 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | €20,060 | €8,476 | -€11,584 | -57.7% |
| Income taxes | 67/77 | - | €294 | +€294 | |
| Profit (loss) for the period | 9904 | €20,060 | €8,182 | -€11,878 | -59.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,060 | €8,182 | -€11,878 | -59.2% |
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.