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
- Cash +€235,806
up €235,806 (+151%), from €155,694 to €391,500
mainly Net result for the year (+€258,203) and Depreciation (+€21,143)
- Tangible fixed assets -€21,143
down €21,143 (-2.9%), from €733,713 to €712,570
- Reserves +€258,203
up €258,203 (+51.5%), from €501,815 to €760,019
of which Distributable reserves: +€262,835
- Debts after one year -€39,691
down €39,691 (-33.9%), from €117,174 to €77,483
- Gross operating margin +€100,017
up €100,017 (+32.5%), from €307,391 to €407,408
- Depreciation -€20,357
down €20,357 (-49.1%), from €41,500 to €21,143
- Taxes +€12,419
up €12,419 (+16.4%), from €75,662 to €88,081
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 | €1,564,348 | €1,779,929 | +€215,581 | +13.8% |
| Fixed assets | 21/28 | €1,363,713 | €1,342,570 | -€21,143 | -1.6% |
| Tangible fixed assets | 22/27 | €733,713 | €712,570 | -€21,143 | -2.9% |
| Land and buildings | 22 | €733,713 | €712,570 | -€21,143 | -2.9% |
| Financial fixed assets | 28 | €630,000 | €630,000 | = | 0.0% |
| Current assets | 29/58 | €200,635 | €437,359 | +€236,724 | +118% |
| Amounts receivable within one year | 40/41 | €36,693 | €37,352 | +€659 | +1.8% |
| Trade receivables | 40 | €7,260 | - | -€7,260 | |
| Other amounts receivable | 41 | €29,433 | €37,352 | +€7,919 | +26.9% |
| Cash at bank and in hand | 54/58 | €155,694 | €391,500 | +€235,806 | +151% |
| Deferred charges and accrued income | 490/1 | €8,248 | €8,507 | +€259 | +3.1% |
| Total equity and liabilities | 10/49 | €1,564,348 | €1,779,929 | +€215,581 | +13.8% |
| Equity | 10/15 | €563,396 | €821,599 | +€258,203 | +45.8% |
| Contributions | 10/11 | €61,580 | €61,580 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Contributions outside capital | 11 | €80 | €80 | = | 0.0% |
| Share premium | 1100/10 | €80 | €80 | = | 0.0% |
| Reserves | 13 | €501,815 | €760,019 | +€258,203 | +51.5% |
| Non-distributable reserves | 130/1 | €14,780 | €14,780 | = | 0.0% |
| Legal reserve | 130 | €14,780 | €14,780 | = | 0.0% |
| Tax-exempt reserves | 132 | €133,866 | €129,234 | -€4,632 | -3.5% |
| Distributable reserves | 133 | €353,170 | €616,005 | +€262,835 | +74.4% |
| Provisions and deferred taxes | 16 | €44,622 | €43,078 | -€1,544 | -3.5% |
| Deferred taxes | 168 | €44,622 | €43,078 | -€1,544 | -3.5% |
| Amounts payable | 17/49 | €956,330 | €915,252 | -€41,078 | -4.3% |
| Amounts payable after more than one year | 17 | €117,174 | €77,483 | -€39,691 | -33.9% |
| Financial debts | 170/4 | €117,174 | €77,483 | -€39,691 | -33.9% |
| Amounts payable within one year | 42/48 | €817,282 | €812,816 | -€4,466 | -0.5% |
| Trade debts | 44 | €5,571 | €1,398 | -€4,173 | -74.9% |
| Suppliers | 440/4 | €5,571 | €1,398 | -€4,173 | -74.9% |
| Taxes, remuneration and social security | 45 | €4,266 | €2,524 | -€1,742 | -40.8% |
| Taxes | 450/3 | €4,266 | €2,524 | -€1,742 | -40.8% |
| Other amounts payable | 47/48 | €807,445 | €808,894 | +€1,449 | +0.2% |
| Accrued charges and deferred income | 492/3 | €21,874 | €24,953 | +€3,079 | +14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,500 | €21,143 | -€20,357 | -49.1% |
| Other operating charges | 640/8 | €13,129 | €16,126 | +€2,996 | +22.8% |
| Gross operating margin | 9900 | €307,391 | €407,408 | +€100,017 | +32.5% |
| Operating profit (loss) | 9901 | €252,761 | €370,139 | +€117,378 | +46.4% |
| Financial income | 75/76B | €167 | - | -€167 | |
| Recurring financial income | 75 | €167 | - | -€167 | |
| Financial charges | 65/66B | €22,329 | €25,400 | +€3,070 | +13.7% |
| Recurring financial charges | 65 | €22,329 | €25,400 | +€3,070 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €230,599 | €344,740 | +€114,141 | +49.5% |
| Transfer from deferred taxes | 780 | €1,544 | €1,544 | = | 0.0% |
| Income taxes | 67/77 | €75,662 | €88,081 | +€12,419 | +16.4% |
| Profit (loss) for the period | 9904 | €156,481 | €258,203 | +€101,722 | +65.0% |
| Transfer from tax-exempt reserves | 789 | €4,632 | €4,632 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €161,112 | €262,835 | +€101,722 | +63.1% |
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 25 October 2026 via checked.be.