IMMO HUMBEEK: 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 HUMBEEK
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€470,478
2024 · €527,227-€56,750
Equity
€20.2m
2024 · €19.7m+€470,478
Cash
€252,196
2024 · €184,846+€67,350
Balance sheet total
€25.4m
2024 · €25.6m-€197,950
Largest movements
Assets
- Tangible fixed assets -€676,366
down €676,366 (-2.8%), from €23.9m to €23.2m
of which Assets under construction and advance payments: -€1.3m
Equity and liabilities
- Profit (loss) carried forward +€476,622
up €476,622 (+10,127%), from €4,706 to €481,328
- Debts after one year -€392,618
down €392,618 (-7.8%), from €5.1m to €4.7m
of which Financial debts: -€392,618
Income statement
- Gross operating margin +€139,698
up €139,698 (+8.1%), from €1.7m to €1.9m
- Taxes +€108,122
up €108,122 (+60.1%), from €179,847 to €287,969
- Depreciation +€80,931
up €80,931 (+10.3%), from €782,297 to €863,228
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
€527,227
Gross operating margin
+€139,698
Depreciation
-€80,931
Write-downs
-€1,638
Other operating charges
-€3,689
Financial income
-€3,575
Financial charges
+€1,508
Taxes
-€108,122
Result 2025
€470,478
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
+€866,046
Investment
-€186,861
Financing
-€611,835
Cash 2024
€184,846
From operations (derived)
+€866,046
Net result for the year
+€470,478
Depreciation
+€863,228
Receivables after one year
-€206,149
Receivables within one year
-€201,677
Deferred charges and accrued income
-€3,240
Smaller working-capital items
+€57
Trade debts
-€21,143
Tax, wage and social debts
-€2,798
Other debts
-€32,708
Investment (derived)
-€186,861
Investment in fixed assets (net)
-€186,861
Financing
-€611,835
Debts after one year
-€392,618
Current portion of long-term debt
-€219,216
Cash 2025
€252,196
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,579,657 | €25,381,706 | -€197,950 | -0.8% |
| Fixed assets | 21/28 | €25,019,029 | €24,342,663 | -€676,366 | -2.7% |
| Tangible fixed assets | 22/27 | €23,872,426 | €23,196,060 | -€676,366 | -2.8% |
| Land and buildings | 22 | €22,530,812 | €23,169,242 | +€638,430 | +2.8% |
| Furniture and vehicles | 24 | €37,352 | €26,818 | -€10,534 | -28.2% |
| Assets under construction and advance payments | 27 | €1,304,262 | €0 | -€1.3m | -100% |
| Financial fixed assets | 28 | €1,146,603 | €1,146,603 | = | 0.0% |
| Current assets | 29/58 | €560,627 | €1,039,043 | +€478,416 | +85.3% |
| Amounts receivable after more than one year | 29 | €356,025 | €562,173 | +€206,149 | +57.9% |
| Other amounts receivable | 291 | €356,025 | €562,173 | +€206,149 | +57.9% |
| Amounts receivable within one year | 40/41 | €945 | €202,622 | +€201,677 | +21,341% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €945 | €202,622 | +€201,677 | +21,341% |
| Cash at bank and in hand | 54/58 | €184,846 | €252,196 | +€67,350 | +36.4% |
| Deferred charges and accrued income | 490/1 | €18,812 | €22,052 | +€3,240 | +17.2% |
| Total equity and liabilities | 10/49 | €25,579,657 | €25,381,706 | -€197,950 | -0.8% |
| Equity | 10/15 | €19,735,094 | €20,205,572 | +€470,478 | +2.4% |
| Contributions | 10/11 | €7,333,000 | €7,333,000 | = | 0.0% |
| Capital | 10 | €7,333,000 | €7,333,000 | = | 0.0% |
| Issued capital | 100 | €7,333,000 | €7,333,000 | = | 0.0% |
| Reserves | 13 | €12,397,388 | €12,391,243 | -€6,144 | 0.0% |
| Non-distributable reserves | 130/1 | €733,300 | €733,300 | = | 0.0% |
| Legal reserve | 130 | €733,300 | €733,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €119,088 | €112,943 | -€6,144 | -5.2% |
| Distributable reserves | 133 | €11,545,000 | €11,545,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,706 | €481,328 | +€476,622 | +10,127% |
| Provisions and deferred taxes | 16 | €39,696 | €37,648 | -€2,048 | -5.2% |
| Deferred taxes | 168 | €39,696 | €37,648 | -€2,048 | -5.2% |
| Amounts payable | 17/49 | €5,804,867 | €5,138,487 | -€666,380 | -11.5% |
| Amounts payable after more than one year | 17 | €5,051,821 | €4,659,203 | -€392,618 | -7.8% |
| Financial debts | 170/4 | €5,038,096 | €4,645,478 | -€392,618 | -7.8% |
| Other amounts payable | 178/9 | €13,725 | €13,725 | = | 0.0% |
| Amounts payable within one year | 42/48 | €711,255 | €435,389 | -€275,866 | -38.8% |
| Current portion of amounts payable after more than one year | 42 | €611,835 | €392,618 | -€219,216 | -35.8% |
| Trade debts | 44 | €58,948 | €37,805 | -€21,143 | -35.9% |
| Suppliers | 440/4 | €58,948 | €37,805 | -€21,143 | -35.9% |
| Taxes, remuneration and social security | 45 | €2,798 | €0 | -€2,798 | -100% |
| Taxes | 450/3 | €2,798 | €0 | -€2,798 | -100% |
| Other amounts payable | 47/48 | €37,674 | €4,966 | -€32,708 | -86.8% |
| Accrued charges and deferred income | 492/3 | €41,791 | €43,895 | +€2,105 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €782,297 | €863,228 | +€80,931 | +10.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,638 | +€1,638 | |
| Other operating charges | 640/8 | €137,233 | €140,923 | +€3,689 | +2.7% |
| Gross operating margin | 9900 | €1,725,512 | €1,865,211 | +€139,698 | +8.1% |
| Operating profit (loss) | 9901 | €805,982 | €859,422 | +€53,440 | +6.6% |
| Financial income | 75/76B | €16,878 | €13,303 | -€3,575 | -21.2% |
| Recurring financial income | 75 | €16,878 | €13,303 | -€3,575 | -21.2% |
| Financial charges | 65/66B | €117,834 | €116,327 | -€1,508 | -1.3% |
| Recurring financial charges | 65 | €117,834 | €116,327 | -€1,508 | -1.3% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €705,026 | €756,399 | +€51,373 | +7.3% |
| Transfer from deferred taxes | 780 | €2,048 | €2,048 | = | 0.0% |
| Income taxes | 67/77 | €179,847 | €287,969 | +€108,122 | +60.1% |
| Profit (loss) for the period | 9904 | €527,227 | €470,478 | -€56,750 | -10.8% |
| Transfer from tax-exempt reserves | 789 | €6,144 | €6,144 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €533,371 | €476,622 | -€56,750 | -10.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.