Immo L & S: 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 & S
Largest movements
- Tangible fixed assets -€36,510
down €36,510 (-9.2%), from €396,332 to €359,822
- Receivables within one year +€4,446
new in 2025: €4,446
- Debts after one year -€17,243
down €17,243 (-10.4%), from €165,081 to €147,839
- Reserves -€10,332
down €10,332 (-11.5%), from €89,848 to €79,516
- Profit (loss) carried forward -€5,743
down €5,743 (-8.9%), from -€64,373 to -€70,115
- Gross operating margin +€3,204
up €3,204 (+16.8%), from €19,043 to €22,247
- Depreciation +€768
up €768 (+2.1%), from €35,741 to €36,510
- Financial charges -€551
down €551 (-9.8%), from €5,613 to €5,062
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
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 | €433,140 | €400,557 | -€32,583 | -7.5% |
| Fixed assets | 21/28 | €396,332 | €359,822 | -€36,510 | -9.2% |
| Tangible fixed assets | 22/27 | €396,332 | €359,822 | -€36,510 | -9.2% |
| Land and buildings | 22 | €396,332 | €359,822 | -€36,510 | -9.2% |
| Current assets | 29/58 | €36,808 | €40,735 | +€3,927 | +10.7% |
| Amounts receivable within one year | 40/41 | - | €4,446 | +€4,446 | |
| Trade receivables | 40 | - | €4,446 | +€4,446 | |
| Cash at bank and in hand | 54/58 | €35,540 | €34,972 | -€568 | -1.6% |
| Deferred charges and accrued income | 490/1 | €1,268 | €1,316 | +€48 | +3.8% |
| Total equity and liabilities | 10/49 | €433,140 | €400,557 | -€32,583 | -7.5% |
| Equity | 10/15 | €31,675 | €15,601 | -€16,074 | -50.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €89,848 | €79,516 | -€10,332 | -11.5% |
| Tax-exempt reserves | 132 | €89,848 | €79,516 | -€10,332 | -11.5% |
| Profit (loss) carried forward | 14 | -€64,373 | -€70,115 | -€5,743 | -8.9% |
| Provisions and deferred taxes | 16 | €29,949 | €26,505 | -€3,444 | -11.5% |
| Deferred taxes | 168 | €29,949 | €26,505 | -€3,444 | -11.5% |
| Amounts payable | 17/49 | €371,515 | €358,451 | -€13,065 | -3.5% |
| Amounts payable after more than one year | 17 | €165,081 | €147,839 | -€17,243 | -10.4% |
| Financial debts | 170/4 | €165,081 | €147,839 | -€17,243 | -10.4% |
| Amounts payable within one year | 42/48 | €206,434 | €210,612 | +€4,178 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €16,750 | €17,243 | +€492 | +2.9% |
| Trade debts | 44 | - | €3,686 | +€3,686 | |
| Suppliers | 440/4 | - | €3,686 | +€3,686 | |
| Other amounts payable | 47/48 | €189,684 | €189,684 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,741 | €36,510 | +€768 | +2.1% |
| Other operating charges | 640/8 | - | €194 | +€194 | |
| Gross operating margin | 9900 | €19,043 | €22,247 | +€3,204 | +16.8% |
| Operating profit (loss) | 9901 | -€16,699 | -€14,456 | +€2,242 | +13.4% |
| Financial charges | 65/66B | €5,613 | €5,062 | -€551 | -9.8% |
| Recurring financial charges | 65 | €5,613 | €5,062 | -€551 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | -€22,312 | -€19,518 | +€2,793 | +12.5% |
| Transfer from deferred taxes | 780 | €3,334 | €3,444 | +€110 | +3.3% |
| Profit (loss) for the period | 9904 | -€18,978 | -€16,074 | +€2,904 | +15.3% |
| Transfer from tax-exempt reserves | 789 | €10,001 | €10,332 | +€331 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,977 | -€5,743 | +€3,235 | +36.0% |
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 25 October 2026 via checked.be.