IMMO J-PP: what changed
Two fiscal 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 J-PP
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€4,606
2024 · €670+€3,936
Equity
€1.7m
2024 · €1.7m+€4,606
Cash
€48,135
2024 · €42,194+€5,940
Balance sheet total
€2.2m
2024 · €2.0m+€274,583
Largest movements
Assets
- Tangible fixed assets +€274,843
up €274,843 (+14.4%), from €1.9m to €2.2m
of which Land and buildings: +€288,971
Equity and liabilities
- Debts after one year +€515,000
new in 2025: €515,000
- Other debts -€249,850
down €249,850 (-98.8%), from €253,000 to €3,150
Income statement
- Gross operating margin +€13,433
up €13,433 (+9.9%), from €136,072 to €149,505
- Financial charges +€6,848
up €6,848 (+146.0%), from €4,690 to €11,538
- Taxes +€1,679
up €1,679 (+163.7%), from €1,025 to €2,704
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
€670
Gross operating margin
+€13,433
Depreciation
+€317
Other operating charges
-€1,288
Financial income
+€0
Financial charges
-€6,848
Taxes
-€1,679
Result 2025
€4,606
Cash bridge derived
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
-€126,559
Investment
-€382,501
Financing
+€515,000
Cash 2024
€42,194
From operations (derived)
-€126,559
Net result for the year
+€4,606
Depreciation
+€107,657
Receivables within one year
+€6,386
Smaller working-capital items
-€1,295
Tax, wage and social debts
+€4,493
Other debts
-€249,850
Accrued charges and deferred income
+€1,445
Investment (derived)
-€382,501
Investment in fixed assets (net)
-€382,500
Current investments
-€1
Financing
+€515,000
Debts after one year
+€515,000
Cash 2025
€48,135
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,966,713 | €2,241,296 | +€274,583 | +14.0% |
| Fixed assets | 21/28 | €1,905,710 | €2,180,554 | +€274,843 | +14.4% |
| Tangible fixed assets | 22/27 | €1,905,710 | €2,180,554 | +€274,843 | +14.4% |
| Land and buildings | 22 | €1,856,047 | €2,145,018 | +€288,971 | +15.6% |
| Furniture and vehicles | 24 | €49,664 | €35,536 | -€14,127 | -28.4% |
| Current assets | 29/58 | €61,003 | €60,742 | -€261 | -0.4% |
| Amounts receivable within one year | 40/41 | €15,657 | €9,271 | -€6,386 | -40.8% |
| Trade receivables | 40 | €11,682 | €3,975 | -€7,707 | -66.0% |
| Other amounts receivable | 41 | €3,975 | €5,297 | +€1,322 | +33.2% |
| Current investments | 50/53 | €300 | €302 | +€1 | +0.4% |
| Cash at bank and in hand | 54/58 | €42,194 | €48,135 | +€5,940 | +14.1% |
| Deferred charges and accrued income | 490/1 | €2,851 | €3,035 | +€184 | +6.4% |
| Total equity and liabilities | 10/49 | €1,966,713 | €2,241,296 | +€274,583 | +14.0% |
| Equity | 10/15 | €1,696,822 | €1,701,428 | +€4,606 | +0.3% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €294,090 | €298,690 | +€4,600 | +1.6% |
| Distributable reserves | 133 | €294,090 | €298,690 | +€4,600 | +1.6% |
| Profit (loss) carried forward | 14 | €402,732 | €402,738 | +€6 | 0.0% |
| Amounts payable | 17/49 | €269,892 | €539,868 | +€269,977 | +100.0% |
| Amounts payable after more than one year | 17 | - | €515,000 | +€515,000 | |
| Financial debts | 170/4 | - | €515,000 | +€515,000 | |
| Amounts payable within one year | 42/48 | €260,987 | €14,518 | -€246,468 | -94.4% |
| Trade debts | 44 | €1,636 | €524 | -€1,111 | -67.9% |
| Suppliers | 440/4 | €1,636 | €524 | -€1,111 | -67.9% |
| Taxes, remuneration and social security | 45 | €6,351 | €10,844 | +€4,493 | +70.8% |
| Taxes | 450/3 | €5,700 | €9,135 | +€3,435 | +60.3% |
| Remuneration and social security | 454/9 | €651 | €1,709 | +€1,058 | +162.6% |
| Other amounts payable | 47/48 | €253,000 | €3,150 | -€249,850 | -98.8% |
| Accrued charges and deferred income | 492/3 | €8,905 | €10,350 | +€1,445 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,973 | €107,657 | -€317 | -0.3% |
| Other operating charges | 640/8 | €21,715 | €23,002 | +€1,288 | +5.9% |
| Gross operating margin | 9900 | €136,072 | €149,505 | +€13,433 | +9.9% |
| Operating profit (loss) | 9901 | €6,384 | €18,846 | +€12,462 | +195.2% |
| Financial income | 75/76B | €2 | €2 | +€0 | +18.8% |
| Recurring financial income | 75 | €2 | €2 | +€0 | +18.8% |
| Financial charges | 65/66B | €4,690 | €11,538 | +€6,848 | +146.0% |
| Recurring financial charges | 65 | €4,690 | €11,538 | +€6,848 | +146.0% |
| Profit (loss) for the period before taxes | 9903 | €1,696 | €7,310 | +€5,614 | +331.1% |
| Income taxes | 67/77 | €1,025 | €2,704 | +€1,679 | +163.7% |
| Profit (loss) for the period | 9904 | €670 | €4,606 | +€3,936 | +587.3% |
| Profit (loss) for the period to be appropriated | 9905 | €670 | €4,606 | +€3,936 | +587.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.