IMMO LAPICAVI: what changed
Two fiscal 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 LAPICAVI
Largest movements
- Stocks and contracts -€22,271
down €22,271 (-17.2%), from €129,205 to €106,934
- Tangible fixed assets -€13,735
down €13,735 (-2.0%), from €671,357 to €657,622
of which Land and buildings: -€31,547
- Debts after one year -€34,894
down €34,894 (-4.7%), from €747,347 to €712,453
of which Financial debts: -€34,894
- Reserves +€8,700
up €8,700 (+174.0%), from €5,000 to €13,700
- Gross operating margin +€17,155
up €17,155 (+43.7%), from €39,276 to €56,431
- Depreciation +€4,257
up €4,257 (+13.5%), from €31,547 to €35,804
- Taxes +€2,880
up €2,880, from €0 to €2,880
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 | €855,960 | €821,084 | -€34,876 | -4.1% |
| Fixed assets | 21/28 | €671,357 | €657,622 | -€13,735 | -2.0% |
| Tangible fixed assets | 22/27 | €671,357 | €657,622 | -€13,735 | -2.0% |
| Land and buildings | 22 | €671,357 | €639,809 | -€31,547 | -4.7% |
| Furniture and vehicles | 24 | - | €17,813 | +€17,813 | |
| Current assets | 29/58 | €184,603 | €163,462 | -€21,141 | -11.5% |
| Amounts receivable after more than one year | 29 | €1,041 | €1,041 | = | 0.0% |
| Other amounts receivable | 291 | €1,041 | €1,041 | = | 0.0% |
| Stocks and contracts in progress | 3 | €129,205 | €106,934 | -€22,271 | -17.2% |
| Stocks | 30/36 | €129,205 | €106,934 | -€22,271 | -17.2% |
| Amounts receivable within one year | 40/41 | €6,979 | €8,247 | +€1,268 | +18.2% |
| Trade receivables | 40 | - | €1,001 | +€1,001 | |
| Other amounts receivable | 41 | €6,979 | €7,246 | +€267 | +3.8% |
| Cash at bank and in hand | 54/58 | €46,920 | €45,454 | -€1,466 | -3.1% |
| Deferred charges and accrued income | 490/1 | €457 | €1,785 | +€1,328 | +290.7% |
| Total equity and liabilities | 10/49 | €855,960 | €821,084 | -€34,876 | -4.1% |
| Equity | 10/15 | €60,259 | €68,971 | +€8,712 | +14.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €13,700 | +€8,700 | +174.0% |
| Distributable reserves | 133 | €5,000 | €13,700 | +€8,700 | +174.0% |
| Profit (loss) carried forward | 14 | €5,259 | €5,271 | +€12 | +0.2% |
| Amounts payable | 17/49 | €795,700 | €752,112 | -€43,588 | -5.5% |
| Amounts payable after more than one year | 17 | €747,347 | €712,453 | -€34,894 | -4.7% |
| Financial debts | 170/4 | €126,397 | €91,503 | -€34,894 | -27.6% |
| Other amounts payable | 178/9 | €620,950 | €620,950 | = | 0.0% |
| Amounts payable within one year | 42/48 | €47,234 | €38,538 | -€8,696 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €41,065 | €34,894 | -€6,172 | -15.0% |
| Financial debts | 43 | €311 | €0 | -€311 | -100.0% |
| Credit institutions | 430/8 | €311 | €0 | -€311 | -100.0% |
| Trade debts | 44 | €2,410 | €2,765 | +€355 | +14.7% |
| Suppliers | 440/4 | €2,410 | €2,765 | +€355 | +14.7% |
| Taxes, remuneration and social security | 45 | - | €880 | +€880 | |
| Taxes | 450/3 | - | €880 | +€880 | |
| Other amounts payable | 47/48 | €3,448 | €0 | -€3,448 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,120 | €1,121 | +€1 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,547 | €35,804 | +€4,257 | +13.5% |
| Other operating charges | 640/8 | €6,101 | €6,398 | +€297 | +4.9% |
| Gross operating margin | 9900 | €39,276 | €56,431 | +€17,155 | +43.7% |
| Operating profit (loss) | 9901 | €1,628 | €14,229 | +€12,601 | +774.1% |
| Financial charges | 65/66B | €2,974 | €2,637 | -€337 | -11.3% |
| Recurring financial charges | 65 | €2,974 | €2,637 | -€337 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,347 | €11,592 | +€12,939 | |
| Income taxes | 67/77 | €0 | €2,880 | +€2,880 | |
| Profit (loss) for the period | 9904 | -€1,347 | €8,712 | +€10,059 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,347 | €8,712 | +€10,059 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.