IMMO-INVESTO: 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-INVESTO
Largest movements
- Tangible fixed assets -€312,352
down €312,352 (-23.5%), from €1.3m to €1.0m
of which Land and buildings: -€310,751
- Stocks and contracts +€156,081
new in 2025: €156,081
- Receivables within one year +€27,788
up €27,788 (+151%), from €18,361 to €46,149
of which Trade receivables: +€27,639
- Revaluation surpluses -€149,651
down €149,651 (-27.5%), from €545,009 to €395,358
- Profit (loss) carried forward +€33,465
up €33,465 (+63.0%), from -€53,105 to -€19,641
- Gross operating margin +€39,389
up €39,389 (+79.1%), from €49,777 to €89,166
- Depreciation -€4,963
down €4,963 (-12.3%), from €40,425 to €35,463
- Financial charges -€2,748
down €2,748 (-78.6%), from €3,495 to €747
- Other operating charges +€2,243
up €2,243 (+23.2%), from €9,677 to €11,919
- Taxes -€1,400
down €1,400 (-12.1%), from €11,593 to €10,193
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 | €1,703,414 | €1,564,330 | -€139,084 | -8.2% |
| Fixed assets | 21/28 | €1,680,868 | €1,356,309 | -€324,559 | -19.3% |
| Intangible fixed assets | 21 | €97,651 | €85,445 | -€12,206 | -12.5% |
| Tangible fixed assets | 22/27 | €1,328,217 | €1,015,865 | -€312,352 | -23.5% |
| Land and buildings | 22 | €1,324,470 | €1,013,719 | -€310,751 | -23.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,747 | €2,146 | -€1,601 | -42.7% |
| Financial fixed assets | 28 | €255,000 | €255,000 | = | 0.0% |
| Current assets | 29/58 | €22,546 | €208,021 | +€185,475 | +823% |
| Stocks and contracts in progress | 3 | - | €156,081 | +€156,081 | |
| Stocks | 30/36 | - | €156,081 | +€156,081 | |
| Amounts receivable within one year | 40/41 | €18,361 | €46,149 | +€27,788 | +151% |
| Trade receivables | 40 | €18,361 | €46,000 | +€27,639 | +151% |
| Other amounts receivable | 41 | - | €149 | +€149 | |
| Cash at bank and in hand | 54/58 | €4,185 | €5,791 | +€1,606 | +38.4% |
| Total equity and liabilities | 10/49 | €1,703,414 | €1,564,330 | -€139,084 | -8.2% |
| Equity | 10/15 | €732,899 | €614,746 | -€118,153 | -16.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €545,009 | €395,358 | -€149,651 | -27.5% |
| Reserves | 13 | €222,394 | €220,428 | -€1,966 | -0.9% |
| Tax-exempt reserves | 132 | €194,940 | €192,974 | -€1,966 | -1.0% |
| Distributable reserves | 133 | €27,455 | €27,455 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,105 | -€19,641 | +€33,465 | +63.0% |
| Provisions and deferred taxes | 16 | €64,980 | €64,325 | -€655 | -1.0% |
| Deferred taxes | 168 | €64,980 | €64,325 | -€655 | -1.0% |
| Amounts payable | 17/49 | €905,536 | €885,260 | -€20,276 | -2.2% |
| Amounts payable within one year | 42/48 | €905,536 | €885,260 | -€20,276 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €2,025 | - | -€2,025 | |
| Trade debts | 44 | €9,340 | €3,487 | -€5,853 | -62.7% |
| Suppliers | 440/4 | €9,340 | €3,487 | -€5,853 | -62.7% |
| Taxes, remuneration and social security | 45 | €4,516 | €7,325 | +€2,810 | +62.2% |
| Taxes | 450/3 | €4,516 | €7,325 | +€2,810 | +62.2% |
| Other amounts payable | 47/48 | €889,655 | €874,448 | -€15,208 | -1.7% |
| Non-recurring operating income | 76A | - | €54,955 | +€54,955 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,425 | €35,463 | -€4,963 | -12.3% |
| Other operating charges | 640/8 | €9,677 | €11,919 | +€2,243 | +23.2% |
| Gross operating margin | 9900 | €49,777 | €89,166 | +€39,389 | +79.1% |
| Operating profit (loss) | 9901 | -€325 | €41,784 | +€42,109 | |
| Financial charges | 65/66B | €3,495 | €747 | -€2,748 | -78.6% |
| Recurring financial charges | 65 | €3,495 | €747 | -€2,748 | -78.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,820 | €41,036 | +€44,857 | |
| Transfer from deferred taxes | 780 | €655 | €655 | = | 0.0% |
| Income taxes | 67/77 | €11,593 | €10,193 | -€1,400 | -12.1% |
| Profit (loss) for the period | 9904 | -€14,758 | €31,499 | +€46,257 | |
| Transfer from tax-exempt reserves | 789 | €1,966 | €1,966 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,792 | €33,465 | +€46,257 |
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 31 October 2026 via checked.be.