IMMO JAWS: 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.
What changed
IMMO JAWS
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€469,771
2024 · -€179,847-€289,924
Equity
-€1.1m
2024 · -€643,807-€469,771
Cash
€42,075
2024 · €64,388-€22,313
Balance sheet total
€11.5m
2024 · €8.6m+€2.9m
Largest movements
Assets
- Tangible fixed assets +€2.9m
up €2.9m (+33.5%), from €8.6m to €11.5m
of which Land and buildings: +€2.9m
Equity and liabilities
- Debts after one year +€2.5m
up €2.5m (+31.8%), from €7.8m to €10.3m
- Other debts +€738,221
up €738,221 (+83.5%), from €883,801 to €1.6m
- Profit (loss) carried forward -€454,733
down €454,733 (-49.4%), from -€920,102 to -€1.4m
- Current portion of long-term debt +€123,674
up €123,674 (+25.5%), from €485,734 to €609,408
Income statement
- Depreciation +€307,351
up €307,351 (+55.4%), from €554,824 to €862,175
- Gross operating margin +€41,312
up €41,312 (+7.6%), from €541,859 to €583,171
- Financial charges +€21,011
up €21,011 (+14.7%), from €142,975 to €163,986
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
-€179,847
Gross operating margin
+€41,312
Depreciation
-€307,351
Other operating charges
-€2,874
Financial charges
-€21,011
Result 2025
-€469,771
raises the resultlowers the result
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.
From operations
+€1.1m
Investment
-€3.7m
Financing
+€2.6m
Cash 2024
€64,388
From operations (derived)
+€1.1m
Net result for the year
-€469,771
Depreciation
+€862,175
Receivables within one year
-€13,707
Smaller working-capital items
-€16,087
Other debts
+€738,221
Investment (derived)
-€3.7m
Investment in fixed assets (net)
-€3.7m
Financing
+€2.6m
Debts after one year
+€2.5m
Current portion of long-term debt
+€123,674
Cash 2025
€42,075
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,648,775 | €11,517,203 | +€2.9m | +33.2% |
| Fixed assets | 21/28 | €8,578,594 | €11,455,628 | +€2.9m | +33.5% |
| Tangible fixed assets | 22/27 | €8,578,594 | €11,455,628 | +€2.9m | +33.5% |
| Land and buildings | 22 | €8,197,265 | €11,081,666 | +€2.9m | +35.2% |
| Plant, machinery and equipment | 23 | €84,985 | €78,434 | -€6,551 | -7.7% |
| Furniture and vehicles | 24 | €296,344 | €295,528 | -€816 | -0.3% |
| Current assets | 29/58 | €70,181 | €61,575 | -€8,606 | -12.3% |
| Amounts receivable within one year | 40/41 | €5,793 | €19,500 | +€13,707 | +237% |
| Trade receivables | 40 | €5,793 | - | -€5,793 | |
| Other amounts receivable | 41 | - | €19,500 | +€19,500 | |
| Cash at bank and in hand | 54/58 | €64,388 | €42,075 | -€22,313 | -34.7% |
| Total equity and liabilities | 10/49 | €8,648,775 | €11,517,203 | +€2.9m | +33.2% |
| Equity | 10/15 | -€643,807 | -€1,113,578 | -€469,771 | -73.0% |
| Contributions | 10/11 | €144,135 | €144,135 | = | 0.0% |
| Capital | 10 | €144,135 | - | -€144,135 | |
| Issued capital | 100 | €144,135 | - | -€144,135 | |
| Reserves | 13 | €132,160 | €117,122 | -€15,038 | -11.4% |
| Non-distributable reserves | 130/1 | €14,413 | €14,414 | +€1 | 0.0% |
| Legal reserve | 130 | €14,413 | - | -€14,413 | |
| Reserves not available under the articles | 1311 | - | €14,414 | +€14,414 | |
| Tax-exempt reserves | 132 | €98,857 | €83,818 | -€15,039 | -15.2% |
| Distributable reserves | 133 | €18,890 | €18,890 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€920,102 | -€1,374,835 | -€454,733 | -49.4% |
| Provisions and deferred taxes | 16 | €50,903 | €43,159 | -€7,744 | -15.2% |
| Deferred taxes | 168 | €50,903 | €43,159 | -€7,744 | -15.2% |
| Amounts payable | 17/49 | €9,241,679 | €12,587,622 | +€3.3m | +36.2% |
| Amounts payable after more than one year | 17 | €7,846,762 | €10,339,153 | +€2.5m | +31.8% |
| Financial debts | 170/4 | €7,846,762 | €10,339,153 | +€2.5m | +31.8% |
| Amounts payable within one year | 42/48 | €1,394,917 | €2,248,469 | +€853,552 | +61.2% |
| Current portion of amounts payable after more than one year | 42 | €485,734 | €609,408 | +€123,674 | +25.5% |
| Trade debts | 44 | €21,440 | €17,039 | -€4,401 | -20.5% |
| Suppliers | 440/4 | €21,440 | €17,039 | -€4,401 | -20.5% |
| Taxes, remuneration and social security | 45 | €3,942 | - | -€3,942 | |
| Taxes | 450/3 | €3,942 | - | -€3,942 | |
| Other amounts payable | 47/48 | €883,801 | €1,622,022 | +€738,221 | +83.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €554,824 | €862,175 | +€307,351 | +55.4% |
| Other operating charges | 640/8 | €31,651 | €34,525 | +€2,874 | +9.1% |
| Gross operating margin | 9900 | €541,859 | €583,171 | +€41,312 | +7.6% |
| Operating profit (loss) | 9901 | -€44,616 | -€313,529 | -€268,913 | -603% |
| Financial charges | 65/66B | €142,975 | €163,986 | +€21,011 | +14.7% |
| Recurring financial charges | 65 | €142,975 | €163,986 | +€21,011 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | -€187,591 | -€477,515 | -€289,924 | -155% |
| Transfer from deferred taxes | 780 | €7,744 | €7,744 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€179,847 | -€469,771 | -€289,924 | -161% |
| Transfer from tax-exempt reserves | 789 | €15,038 | €15,038 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€164,809 | -€454,733 | -€289,924 | -176% |
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 13 October 2026 via checked.be.