IMMO - INVEST: what changed
IMMO - INVEST
Largest movements
- Receivables within one year +€51,584
up €51,584 (+51.7%), from €99,777 to €151,361
of which Other amounts receivable: +€49,660
- Tangible fixed assets -€7,636
down €7,636 (-5.8%), from €131,216 to €123,580
of which Land and buildings: -€4,838
- Cash -€3,766
down €3,766 (-33.7%), from €11,164 to €7,398
mainly Receivables within one year (-€51,584) and Contributions, distributions and other (-€24,545)
- Reserves +€38,368
up €38,368 (+21.5%), from €178,747 to €217,116
- Tax, wage and social debts +€12,702
up €12,702 (+76.6%), from €16,583 to €29,284
- Other debts -€8,078
down €8,078 (-25.7%), from €31,396 to €23,318
- Accrued charges and deferred income -€3,560
down €3,560 (-100%), from €3,560 to €0
- Gross operating margin +€91,783
up €91,783 (+747%), from €12,282 to €104,065
- Taxes +€31,263
up €31,263 (+1,981%), from €1,578 to €32,841
- Write-downs -€3,450
down €3,450 (-100%), from €3,450 to €0
- Depreciation -€2,966
down €2,966 (-28.0%), from €10,603 to €7,636
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €248,005 | €287,440 | +€39,435 | +15.9% |
| Fixed assets | 21/28 | €131,216 | €123,880 | -€7,336 | -5.6% |
| Tangible fixed assets | 22/27 | €131,216 | €123,580 | -€7,636 | -5.8% |
| Land and buildings | 22 | €122,481 | €117,643 | -€4,838 | -3.9% |
| Plant, machinery and equipment | 23 | €1,074 | €705 | -€369 | -34.4% |
| Furniture and vehicles | 24 | €2,913 | €925 | -€1,988 | -68.2% |
| Other tangible fixed assets | 26 | €4,748 | €4,306 | -€442 | -9.3% |
| Financial fixed assets | 28 | - | €300 | +€300 | |
| Current assets | 29/58 | €116,790 | €163,561 | +€46,771 | +40.0% |
| Amounts receivable within one year | 40/41 | €99,777 | €151,361 | +€51,584 | +51.7% |
| Trade receivables | 40 | €36,427 | €38,352 | +€1,924 | +5.3% |
| Other amounts receivable | 41 | €63,350 | €113,009 | +€49,660 | +78.4% |
| Cash at bank and in hand | 54/58 | €11,164 | €7,398 | -€3,766 | -33.7% |
| Deferred charges and accrued income | 490/1 | €5,848 | €4,801 | -€1,047 | -17.9% |
| Total equity and liabilities | 10/49 | €248,005 | €287,440 | +€39,435 | +15.9% |
| Equity | 10/15 | €188,599 | €229,511 | +€40,912 | +21.7% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €178,747 | €217,116 | +€38,368 | +21.5% |
| Distributable reserves | 133 | €178,747 | €217,116 | +€38,368 | +21.5% |
| Profit (loss) carried forward | 14 | -€2,543 | €0 | +€2,543 | |
| Amounts payable | 17/49 | €59,407 | €57,930 | -€1,477 | -2.5% |
| Amounts payable within one year | 42/48 | €55,847 | €57,930 | +€2,083 | +3.7% |
| Financial debts | 43 | €5,071 | €5,048 | -€23 | -0.5% |
| Credit institutions | 430/8 | €5,071 | €5,048 | -€23 | -0.5% |
| Trade debts | 44 | €2,797 | €280 | -€2,517 | -90.0% |
| Suppliers | 440/4 | €2,797 | €280 | -€2,517 | -90.0% |
| Taxes, remuneration and social security | 45 | €16,583 | €29,284 | +€12,702 | +76.6% |
| Taxes | 450/3 | €16,583 | €29,284 | +€12,702 | +76.6% |
| Other amounts payable | 47/48 | €31,396 | €23,318 | -€8,078 | -25.7% |
| Accrued charges and deferred income | 492/3 | €3,560 | €0 | -€3,560 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,603 | €7,636 | -€2,966 | -28.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,450 | €0 | -€3,450 | -100% |
| Other operating charges | 640/8 | €2,514 | €2,512 | -€2 | -0.1% |
| Gross operating margin | 9900 | €12,282 | €104,065 | +€91,783 | +747% |
| Operating profit (loss) | 9901 | -€4,284 | €93,918 | +€98,201 | |
| Financial income | 75/76B | €4,104 | €4,745 | +€640 | +15.6% |
| Recurring financial income | 75 | €4,104 | €4,745 | +€640 | +15.6% |
| Financial charges | 65/66B | €786 | €364 | -€422 | -53.7% |
| Recurring financial charges | 65 | €786 | €364 | -€422 | -53.7% |
| Profit (loss) for the period before taxes | 9903 | -€966 | €98,298 | +€99,264 | |
| Income taxes | 67/77 | €1,578 | €32,841 | +€31,263 | +1,981% |
| Profit (loss) for the period | 9904 | -€2,543 | €65,457 | +€68,001 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,543 | €65,457 | +€68,001 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.