IMMO J&S: 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.
IMMO J&S
Largest movements
- Tangible fixed assets +€284,470
up €284,470 (+36.3%), from €784,651 to €1.1m
of which Land and buildings: +€185,259
- Cash -€74,686
down €74,686 (-35.1%), from €212,876 to €138,191
mainly Investment in fixed assets (net) (-€345,058) and Receivables within one year (-€55,921)
- Receivables within one year +€55,921
up €55,921 (+2432.0%), from €2,299 to €58,220
of which Other amounts receivable: +€55,158
- Debts after one year +€235,451
new in 2025: €235,451
- Current portion of long-term debt +€23,142
new in 2025: €23,142
- Reserves +€13,403
up €13,403 (+3.6%), from €371,165 to €384,568
of which Distributable reserves: +€17,427
- Depreciation +€19,944
up €19,944 (+49.1%), from €40,644 to €60,588
- Taxes -€10,088
down €10,088 (-85.3%), from €11,830 to €1,743
- Gross operating margin +€8,063
up €8,063 (+9.5%), from €84,502 to €92,565
- Financial charges +€6,797
up €6,797 (+1212.2%), from €561 to €7,357
- Other operating charges +€941
up €941 (+9.5%), from €9,874 to €10,816
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,001,008 | €1,269,149 | +€268,141 | +26.8% |
| Fixed assets | 21/28 | €784,651 | €1,069,122 | +€284,470 | +36.3% |
| Tangible fixed assets | 22/27 | €784,651 | €1,069,122 | +€284,470 | +36.3% |
| Land and buildings | 22 | €784,651 | €969,910 | +€185,259 | +23.6% |
| Plant, machinery and equipment | 23 | - | €45,900 | +€45,900 | |
| Furniture and vehicles | 24 | - | €53,312 | +€53,312 | |
| Current assets | 29/58 | €216,357 | €200,027 | -€16,330 | -7.5% |
| Amounts receivable within one year | 40/41 | €2,299 | €58,220 | +€55,921 | +2432.0% |
| Trade receivables | 40 | €2,299 | €3,062 | +€762 | +33.2% |
| Other amounts receivable | 41 | - | €55,158 | +€55,158 | |
| Cash at bank and in hand | 54/58 | €212,876 | €138,191 | -€74,686 | -35.1% |
| Deferred charges and accrued income | 490/1 | €1,181 | €3,616 | +€2,435 | +206.2% |
| Total equity and liabilities | 10/49 | €1,001,008 | €1,269,149 | +€268,141 | +26.8% |
| Equity | 10/15 | €968,497 | €981,899 | +€13,403 | +1.4% |
| Contributions | 10/11 | €489,930 | €489,930 | = | 0.0% |
| Reserves | 13 | €371,165 | €384,568 | +€13,403 | +3.6% |
| Non-distributable reserves | 130/1 | €56,886 | €56,886 | = | 0.0% |
| Reserves not available under the articles | 1311 | €56,886 | €56,886 | = | 0.0% |
| Tax-exempt reserves | 132 | €34,763 | €30,739 | -€4,024 | -11.6% |
| Distributable reserves | 133 | €279,517 | €296,943 | +€17,427 | +6.2% |
| Profit (loss) carried forward | 14 | €107,401 | €107,401 | = | 0.0% |
| Provisions and deferred taxes | 16 | €11,588 | €10,246 | -€1,341 | -11.6% |
| Deferred taxes | 168 | €11,588 | €10,246 | -€1,341 | -11.6% |
| Amounts payable | 17/49 | €20,924 | €277,003 | +€256,079 | +1223.9% |
| Amounts payable after more than one year | 17 | - | €235,451 | +€235,451 | |
| Financial debts | 170/4 | - | €235,451 | +€235,451 | |
| Amounts payable within one year | 42/48 | €16,237 | €37,847 | +€21,609 | +133.1% |
| Current portion of amounts payable after more than one year | 42 | - | €23,142 | +€23,142 | |
| Trade debts | 44 | €2,267 | €169 | -€2,098 | -92.5% |
| Suppliers | 440/4 | €2,267 | €169 | -€2,098 | -92.5% |
| Taxes, remuneration and social security | 45 | €1,830 | €1,888 | +€58 | +3.1% |
| Taxes | 450/3 | €1,830 | €1,888 | +€58 | +3.1% |
| Other amounts payable | 47/48 | €12,140 | €12,648 | +€508 | +4.2% |
| Accrued charges and deferred income | 492/3 | €4,686 | €3,706 | -€981 | -20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,644 | €60,588 | +€19,944 | +49.1% |
| Other operating charges | 640/8 | €9,874 | €10,816 | +€941 | +9.5% |
| Gross operating margin | 9900 | €84,502 | €92,565 | +€8,063 | +9.5% |
| Operating profit (loss) | 9901 | €33,984 | €21,161 | -€12,822 | -37.7% |
| Financial charges | 65/66B | €561 | €7,357 | +€6,797 | +1212.2% |
| Recurring financial charges | 65 | €561 | €7,357 | +€6,797 | +1212.2% |
| Profit (loss) for the period before taxes | 9903 | €33,423 | €13,804 | -€19,619 | -58.7% |
| Transfer from deferred taxes | 780 | €881 | €1,341 | +€460 | +52.2% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €11,830 | €1,743 | -€10,088 | -85.3% |
| Profit (loss) for the period | 9904 | €22,474 | €13,403 | -€9,071 | -40.4% |
| Transfer from tax-exempt reserves | 789 | €2,644 | €4,024 | +€1,380 | +52.2% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €25,118 | €17,427 | -€7,692 | -30.6% |
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 5 October 2026 via checked.be.