Immo L & R: 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 L & R
Largest movements
- Tangible fixed assets -€11,010
down €11,010 (-2.9%), from €375,649 to €364,639
- Debts after one year -€37,547
down €37,547 (-23.1%), from €162,204 to €124,657
of which Financial debts: -€32,547
- Current portion of long-term debt +€11,951
up €11,951 (+35.1%), from €34,002 to €45,953
- Profit (loss) carried forward +€7,807
no longer reported in 2025 (was -€7,807)
- Tax, wage and social debts -€6,158
down €6,158 (-47.5%), from €12,970 to €6,812
- Trade debts +€5,797
up €5,797 (+188%), from €3,079 to €8,876
- Gross operating margin -€3,420
down €3,420 (-9.7%), from €35,308 to €31,888
- Taxes -€484
down €484 (-11.6%), from €4,164 to €3,680
- Other operating charges +€424
up €424 (+24.3%), from €1,747 to €2,171
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.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €375,649 | €364,959 | -€10,690 | -2.8% |
| Fixed assets | 21/28 | €375,649 | €364,639 | -€11,010 | -2.9% |
| Tangible fixed assets | 22/27 | €375,649 | €364,639 | -€11,010 | -2.9% |
| Land and buildings | 22 | €375,649 | €364,639 | -€11,010 | -2.9% |
| Current assets | 29/58 | - | €320 | +€320 | |
| Amounts receivable within one year | 40/41 | - | €320 | +€320 | |
| Other amounts receivable | 41 | - | €320 | +€320 | |
| Total equity and liabilities | 10/49 | €375,649 | €364,959 | -€10,690 | -2.8% |
| Equity | 10/15 | €159,293 | €170,771 | +€11,478 | +7.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €48,500 | €52,171 | +€3,671 | +7.6% |
| Distributable reserves | 133 | €48,500 | €52,171 | +€3,671 | +7.6% |
| Profit (loss) carried forward | 14 | -€7,807 | - | +€7,807 | |
| Amounts payable | 17/49 | €216,356 | €194,189 | -€22,167 | -10.2% |
| Amounts payable after more than one year | 17 | €162,204 | €124,657 | -€37,547 | -23.1% |
| Financial debts | 170/4 | €59,204 | €26,657 | -€32,547 | -55.0% |
| Other amounts payable | 178/9 | €103,000 | €98,000 | -€5,000 | -4.9% |
| Amounts payable within one year | 42/48 | €54,152 | €69,532 | +€15,380 | +28.4% |
| Current portion of amounts payable after more than one year | 42 | €34,002 | €45,953 | +€11,951 | +35.1% |
| Financial debts | 43 | €12 | €21 | +€9 | +77.6% |
| Credit institutions | 430/8 | €12 | €21 | +€9 | +77.6% |
| Trade debts | 44 | €3,079 | €8,876 | +€5,797 | +188% |
| Suppliers | 440/4 | €3,079 | €8,876 | +€5,797 | +188% |
| Taxes, remuneration and social security | 45 | €12,970 | €6,812 | -€6,158 | -47.5% |
| Taxes | 450/3 | €12,970 | €6,812 | -€6,158 | -47.5% |
| Other amounts payable | 47/48 | €4,090 | €7,870 | +€3,780 | +92.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,010 | €11,010 | = | 0.0% |
| Other operating charges | 640/8 | €1,747 | €2,171 | +€424 | +24.3% |
| Gross operating margin | 9900 | €35,308 | €31,888 | -€3,420 | -9.7% |
| Operating profit (loss) | 9901 | €22,551 | €18,707 | -€3,844 | -17.0% |
| Financial charges | 65/66B | €3,454 | €3,549 | +€96 | +2.8% |
| Recurring financial charges | 65 | €3,454 | €3,549 | +€96 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €19,097 | €15,158 | -€3,939 | -20.6% |
| Income taxes | 67/77 | €4,164 | €3,680 | -€484 | -11.6% |
| Profit (loss) for the period | 9904 | €14,933 | €11,478 | -€3,456 | -23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,933 | €11,478 | -€3,456 | -23.1% |
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 24 October 2026 via checked.be.