Immo Koentges: 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 Koentges
Largest movements
- Cash +€15,845
up €15,845 (+46.3%), from €34,228 to €50,073
mainly Depreciation (+€12,510) and Deferred charges and accrued income (+€1,791)
- Tangible fixed assets -€12,510
down €12,510 (-63.0%), from €19,861 to €7,352
of which Land and buildings: -€12,354
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€10,301
down €10,301 (-42.2%), from €24,398 to €14,097
- Taxes -€5,187
down €5,187 (-78.8%), from €6,580 to €1,393
- Depreciation -€1,738
down €1,738 (-12.2%), from €14,248 to €12,510
- Financial charges +€1,623
up €1,623 (+49.3%), from €3,293 to €4,916
- Other operating charges +€1,512
up €1,512 (+41.1%), from €3,679 to €5,192
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 | €455,742 | €456,952 | +€1,210 | +0.3% |
| Fixed assets | 21/28 | €19,861 | €7,352 | -€12,510 | -63.0% |
| Tangible fixed assets | 22/27 | €19,861 | €7,352 | -€12,510 | -63.0% |
| Land and buildings | 22 | €19,075 | €6,721 | -€12,354 | -64.8% |
| Plant, machinery and equipment | 23 | €271 | €218 | -€53 | -19.7% |
| Furniture and vehicles | 24 | €515 | €413 | -€102 | -19.8% |
| Current assets | 29/58 | €435,881 | €449,601 | +€13,720 | +3.1% |
| Amounts receivable after more than one year | 29 | €390,000 | €390,000 | = | 0.0% |
| Other amounts receivable | 291 | €390,000 | €390,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,862 | €9,528 | -€334 | -3.4% |
| Other amounts receivable | 41 | €9,862 | €9,528 | -€334 | -3.4% |
| Cash at bank and in hand | 54/58 | €34,228 | €50,073 | +€15,845 | +46.3% |
| Deferred charges and accrued income | 490/1 | €1,791 | - | -€1,791 | |
| Total equity and liabilities | 10/49 | €455,742 | €456,952 | +€1,210 | +0.3% |
| Equity | 10/15 | €380,824 | €379,985 | -€839 | -0.2% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Revaluation surpluses | 12 | €25,483 | €25,483 | = | 0.0% |
| Reserves | 13 | €324,341 | €323,502 | -€839 | -0.3% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,122 | €5,299 | -€3,823 | -41.9% |
| Distributable reserves | 133 | €312,119 | €315,104 | +€2,985 | +1.0% |
| Provisions and deferred taxes | 16 | €3,041 | €1,766 | -€1,274 | -41.9% |
| Deferred taxes | 168 | €3,041 | €1,766 | -€1,274 | -41.9% |
| Amounts payable | 17/49 | €71,878 | €75,201 | +€3,323 | +4.6% |
| Amounts payable within one year | 42/48 | €68,585 | €70,285 | +€1,700 | +2.5% |
| Other amounts payable | 47/48 | €68,585 | €70,285 | +€1,700 | +2.5% |
| Accrued charges and deferred income | 492/3 | €3,293 | €4,916 | +€1,623 | +49.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,248 | €12,510 | -€1,738 | -12.2% |
| Other operating charges | 640/8 | €3,679 | €5,192 | +€1,512 | +41.1% |
| Gross operating margin | 9900 | €24,398 | €14,097 | -€10,301 | -42.2% |
| Operating profit (loss) | 9901 | €6,471 | -€3,604 | -€10,075 | |
| Financial income | 75/76B | €7,800 | €7,800 | = | 0.0% |
| Recurring financial income | 75 | €7,800 | €7,800 | = | 0.0% |
| Financial charges | 65/66B | €3,293 | €4,916 | +€1,623 | +49.3% |
| Recurring financial charges | 65 | €3,293 | €4,916 | +€1,623 | +49.3% |
| Profit (loss) for the period before taxes | 9903 | €10,978 | -€720 | -€11,698 | |
| Transfer from deferred taxes | 780 | €2,425 | €1,274 | -€1,151 | -47.5% |
| Income taxes | 67/77 | €6,580 | €1,393 | -€5,187 | -78.8% |
| Profit (loss) for the period | 9904 | €6,824 | -€839 | -€7,662 | |
| Transfer from tax-exempt reserves | 789 | €7,276 | €3,823 | -€3,452 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,099 | €2,985 | -€11,114 | -78.8% |
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 11 October 2026 via checked.be.