Immo Jaspe: 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 Jaspe
NACE 68.122, Development of non-residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.9m
2024 · €3.6m-€750,208
Equity
€29.5m
2024 · €26.6m+€2.9m
Cash
€5.7m
2024 · €3.1m+€2.6m
Balance sheet total
€42.0m
2024 · €38.7m+€3.3m
Largest movements
Assets
- Cash +€2.6m
up €2.6m (+84.3%), from €3.1m to €5.7m
mainly Net result for the year (+€2.9m) and Depreciation (+€963,202)
- Receivables within one year +€1.3m
up €1.3m (+131.4%), from €1.0m to €2.4m
of which Trade receivables: +€1.3m
- Tangible fixed assets -€426,327
down €426,327 (-2.4%), from €18.1m to €17.7m
of which Land and buildings: -€786,927
Equity and liabilities
- Profit (loss) carried forward +€2.9m
up €2.9m (+37.8%), from €7.7m to €10.6m
- Debts after one year -€1.2m
down €1.2m (-24.0%), from €5.0m to €3.8m
of which Financial debts: -€1.2m
- Accrued charges and deferred income +€850,940
new in 2025: €850,940
- Tax, wage and social debts +€753,979
up €753,979 (+1405.0%), from €53,665 to €807,644
of which Taxes: +€754,792
Income statement
- Gross operating margin -€481,212
down €481,212 (-6.5%), from €7.4m to €6.9m
- Taxes -€311,615
down €311,615 (-25.2%), from €1.2m to €922,847
- Other operating charges +€252,077
up €252,077 (+14.1%), from €1.8m to €2.0m
- Financial charges +€202,402
up €202,402 (+79.4%), from €255,050 to €457,452
of which Non-recurring financial charges: +€150,591
- Financial income -€141,073
down €141,073 (-21.3%), from €663,745 to €522,672
of which Non-recurring financial income: -€196,393
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
€3.6m
Gross operating margin
-€481,212
Staff costs
-€12,672
Depreciation
+€40,745
Write-downs
+€3,057
Other operating charges
-€252,077
Other operating items
-€11,812
Financial income
-€141,073
Financial charges
-€202,402
Taxes
+€311,615
Deferred taxes and other
-€4,379
Result 2025
€2.9m
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
+€4.1m
Investment
-€291,985
Financing
-€1.1m
Cash 2024
€3.1m
From operations (derived)
+€4.1m
Net result for the year
+€2.9m
Depreciation
+€963,202
Receivables within one year
-€1.3m
Deferred charges and accrued income
-€16,856
Provisions
-€8,063
Trade debts
-€13,721
Tax, wage and social debts
+€753,979
Other debts
-€5,072
Accrued charges and deferred income
+€850,940
Investment (derived)
-€291,985
Investment in fixed assets (net)
-€396,223
Current investments
+€104,238
Financing
-€1.1m
Debts after one year
-€1.2m
Current portion of long-term debt
+€50,398
Contributions, distributions and other
-€1,588
Cash 2025
€5.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €38,722,899 | €42,044,562 | +€3.3m | +8.6% |
| Fixed assets | 21/28 | €33,519,460 | €32,952,480 | -€566,979 | -1.7% |
| Tangible fixed assets | 22/27 | €18,098,847 | €17,672,520 | -€426,327 | -2.4% |
| Land and buildings | 22 | €17,887,699 | €17,100,773 | -€786,927 | -4.4% |
| Furniture and vehicles | 24 | €111,858 | €98,704 | -€13,154 | -11.8% |
| Other tangible fixed assets | 26 | €38,000 | €40,010 | +€2,010 | +5.3% |
| Assets under construction and advance payments | 27 | €61,290 | €433,033 | +€371,743 | +606.5% |
| Financial fixed assets | 28 | €15,420,613 | €15,279,960 | -€140,653 | -0.9% |
| Current assets | 29/58 | €5,203,439 | €9,092,082 | +€3.9m | +74.7% |
| Amounts receivable within one year | 40/41 | €1,026,591 | €2,375,309 | +€1.3m | +131.4% |
| Trade receivables | 40 | €459,711 | €1,711,217 | +€1.3m | +272.2% |
| Other amounts receivable | 41 | €566,880 | €664,092 | +€97,212 | +17.1% |
| Current investments | 50/53 | €1,054,589 | €950,351 | -€104,238 | -9.9% |
| Cash at bank and in hand | 54/58 | €3,117,518 | €5,744,825 | +€2.6m | +84.3% |
| Deferred charges and accrued income | 490/1 | €4,741 | €21,597 | +€16,856 | +355.6% |
| Total equity and liabilities | 10/49 | €38,722,899 | €42,044,562 | +€3.3m | +8.6% |
| Equity | 10/15 | €26,626,176 | €29,509,593 | +€2.9m | +10.8% |
| Contributions | 10/11 | €12,347,857 | €12,347,857 | = | 0.0% |
| Capital | 10 | €12,139,123 | €12,139,123 | = | 0.0% |
| Issued capital | 100 | €12,139,123 | €12,139,123 | = | 0.0% |
| Outside capital | 11 | €208,734 | €208,734 | = | 0.0% |
| Share premium | 1100/10 | €208,734 | €208,734 | = | 0.0% |
| Reserves | 13 | €6,567,344 | €6,546,441 | -€20,902 | -0.3% |
| Non-distributable reserves | 130/1 | €1,213,912 | €1,213,912 | = | 0.0% |
| Legal reserve | 130 | €1,213,912 | €1,213,912 | = | 0.0% |
| Tax-exempt reserves | 132 | €260,876 | €239,974 | -€20,902 | -8.0% |
| Distributable reserves | 133 | €5,092,555 | €5,092,555 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,696,680 | €10,602,587 | +€2.9m | +37.8% |
| Investment grants | 15 | €14,296 | €12,707 | -€1,588 | -11.1% |
| Provisions and deferred taxes | 16 | €51,500 | €43,437 | -€8,063 | -15.7% |
| Deferred taxes | 168 | €51,500 | €43,437 | -€8,063 | -15.7% |
| Amounts payable | 17/49 | €12,045,223 | €12,491,532 | +€446,309 | +3.7% |
| Amounts payable after more than one year | 17 | €4,959,745 | €3,769,530 | -€1.2m | -24.0% |
| Financial debts | 170/4 | €4,864,490 | €3,674,275 | -€1.2m | -24.5% |
| Other amounts payable | 178/9 | €95,255 | €95,255 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,085,477 | €7,871,062 | +€785,585 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €2,166,434 | €2,216,832 | +€50,398 | +2.3% |
| Trade debts | 44 | €801,002 | €787,281 | -€13,721 | -1.7% |
| Suppliers | 440/4 | €801,002 | €787,281 | -€13,721 | -1.7% |
| Taxes, remuneration and social security | 45 | €53,665 | €807,644 | +€753,979 | +1405.0% |
| Taxes | 450/3 | €40,364 | €795,156 | +€754,792 | +1870.0% |
| Remuneration and social security | 454/9 | €13,301 | €12,488 | -€813 | -6.1% |
| Other amounts payable | 47/48 | €4,064,376 | €4,059,304 | -€5,072 | -0.1% |
| Accrued charges and deferred income | 492/3 | - | €850,940 | +€850,940 | |
| Non-recurring operating income | 76A | - | €5,819 | +€5,819 | |
| Remuneration, social security and pensions | 62 | €138,663 | €151,335 | +€12,672 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,003,948 | €963,202 | -€40,745 | -4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€3,057 | -€3,057 | |
| Other operating charges | 640/8 | €1,786,074 | €2,038,151 | +€252,077 | +14.1% |
| Non-recurring operating charges | 66A | - | €11,812 | +€11,812 | |
| Gross operating margin | 9900 | €7,377,223 | €6,896,011 | -€481,212 | -6.5% |
| Operating profit (loss) | 9901 | €4,448,539 | €3,734,569 | -€713,970 | -16.0% |
| Financial income | 75/76B | €663,745 | €522,672 | -€141,073 | -21.3% |
| Recurring financial income | 75 | €452,291 | €507,611 | +€55,320 | +12.2% |
| Non-recurring financial income | 76B | €211,454 | €15,061 | -€196,393 | -92.9% |
| Financial charges | 65/66B | €255,050 | €457,452 | +€202,402 | +79.4% |
| Recurring financial charges | 65 | €255,050 | €306,860 | +€51,810 | +20.3% |
| Non-recurring financial charges | 66B | - | €150,591 | +€150,591 | |
| Profit (loss) for the period before taxes | 9903 | €4,857,234 | €3,799,790 | -€1.1m | -21.8% |
| Transfer from deferred taxes | 780 | €12,442 | €8,063 | -€4,379 | -35.2% |
| Income taxes | 67/77 | €1,234,462 | €922,847 | -€311,615 | -25.2% |
| Profit (loss) for the period | 9904 | €3,635,213 | €2,885,005 | -€750,208 | -20.6% |
| Transfer from tax-exempt reserves | 789 | €37,326 | €20,902 | -€16,423 | -44.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,672,539 | €2,905,907 | -€766,631 | -20.9% |
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 6 October 2026 via checked.be.