IMMO LARUELLE: 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.
What changed
IMMO LARUELLE
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€339,026
2024 · €333,674+€5,351
Equity
€1.1m
2024 · €802,132+€339,026
Cash
€375,149
2024 · €462,427-€87,278
Balance sheet total
€3.5m
2024 · €3.9m-€329,363
Largest movements
Assets
- Tangible fixed assets -€219,770
down €219,770 (-6.7%), from €3.3m to €3.0m
of which Land and buildings: -€170,220
- Cash -€87,278
down €87,278 (-18.9%), from €462,427 to €375,149
mainly Debts after one year (-€616,267) and Investment in fixed assets (net) (-€83,346)
Equity and liabilities
- Debts after one year -€616,267
down €616,267 (-23.5%), from €2.6m to €2.0m
of which Other amounts payable: -€439,828
- Profit (loss) carried forward +€339,026
up €339,026 (+43.0%), from €787,872 to €1.1m
- Accrued charges and deferred income -€51,804
down €51,804 (-40.4%), from €128,342 to €76,537
- Trade debts +€39,749
up €39,749 (+251.5%), from €15,805 to €55,554
Income statement
- Gross operating margin +€91,599
up €91,599 (+9.8%), from €939,383 to €1.0m
- Financial charges +€69,202
up €69,202 (+290.3%), from €23,835 to €93,037
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.
Result 2024
€333,674
Gross operating margin
+€91,599
Staff costs
-€5,184
Depreciation
-€1,517
Other operating charges
-€5,042
Other operating items
-€1,000
Financial income
-€50
Financial charges
-€69,202
Taxes
-€4,252
Result 2025
€339,026
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.
From operations
+€618,524
Investment
-€83,346
Financing
-€622,456
Cash 2024
€462,427
From operations (derived)
+€618,524
Net result for the year
+€339,026
Depreciation
+€303,117
Receivables after one year
+€4,175
Receivables within one year
+€20,366
Deferred charges and accrued income
-€2,226
Trade debts
+€39,749
Tax, wage and social debts
-€32,028
Other debts
-€1,849
Accrued charges and deferred income
-€51,804
Investment (derived)
-€83,346
Investment in fixed assets (net)
-€83,346
Financing
-€622,456
Debts after one year
-€616,267
Current portion of long-term debt
-€6,189
Cash 2025
€375,149
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,875,472 | €3,546,109 | -€329,363 | -8.5% |
| Fixed assets | 21/28 | €3,265,962 | €3,046,192 | -€219,770 | -6.7% |
| Tangible fixed assets | 22/27 | €3,265,562 | €3,045,792 | -€219,770 | -6.7% |
| Land and buildings | 22 | €2,795,122 | €2,624,902 | -€170,220 | -6.1% |
| Plant, machinery and equipment | 23 | €362,635 | €363,203 | +€568 | +0.2% |
| Furniture and vehicles | 24 | €83,605 | €57,688 | -€25,917 | -31.0% |
| Assets under construction and advance payments | 27 | €24,200 | €0 | -€24,200 | -100.0% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €609,510 | €499,917 | -€109,593 | -18.0% |
| Amounts receivable after more than one year | 29 | €4,381 | €205 | -€4,175 | -95.3% |
| Other amounts receivable | 291 | €4,381 | €205 | -€4,175 | -95.3% |
| Amounts receivable within one year | 40/41 | €125,744 | €105,378 | -€20,366 | -16.2% |
| Trade receivables | 40 | €121,610 | €101,203 | -€20,407 | -16.8% |
| Other amounts receivable | 41 | €4,134 | €4,175 | +€42 | +1.0% |
| Cash at bank and in hand | 54/58 | €462,427 | €375,149 | -€87,278 | -18.9% |
| Deferred charges and accrued income | 490/1 | €16,958 | €19,184 | +€2,226 | +13.1% |
| Total equity and liabilities | 10/49 | €3,875,472 | €3,546,109 | -€329,363 | -8.5% |
| Equity | 10/15 | €802,132 | €1,141,158 | +€339,026 | +42.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €787,872 | €1,126,898 | +€339,026 | +43.0% |
| Amounts payable | 17/49 | €3,073,340 | €2,404,951 | -€668,389 | -21.7% |
| Amounts payable after more than one year | 17 | €2,617,688 | €2,001,421 | -€616,267 | -23.5% |
| Financial debts | 170/4 | €1,209,592 | €1,033,153 | -€176,439 | -14.6% |
| Other amounts payable | 178/9 | €1,408,096 | €968,269 | -€439,828 | -31.2% |
| Amounts payable within one year | 42/48 | €327,310 | €326,993 | -€318 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €182,628 | €176,439 | -€6,189 | -3.4% |
| Trade debts | 44 | €15,805 | €55,554 | +€39,749 | +251.5% |
| Suppliers | 440/4 | €15,805 | €55,554 | +€39,749 | +251.5% |
| Taxes, remuneration and social security | 45 | €117,432 | €85,404 | -€32,028 | -27.3% |
| Taxes | 450/3 | €98,835 | €65,109 | -€33,726 | -34.1% |
| Remuneration and social security | 454/9 | €18,597 | €20,295 | +€1,698 | +9.1% |
| Other amounts payable | 47/48 | €11,445 | €9,596 | -€1,849 | -16.2% |
| Accrued charges and deferred income | 492/3 | €128,342 | €76,537 | -€51,804 | -40.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €82,655 | €87,840 | +€5,184 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €301,599 | €303,117 | +€1,517 | +0.5% |
| Other operating charges | 640/8 | €84,421 | €89,463 | +€5,042 | +6.0% |
| Non-recurring operating charges | 66A | €0 | €1,000 | +€1,000 | |
| Gross operating margin | 9900 | €939,383 | €1,030,982 | +€91,599 | +9.8% |
| Operating profit (loss) | 9901 | €470,708 | €549,564 | +€78,856 | +16.8% |
| Financial income | 75/76B | €136 | €86 | -€50 | -36.5% |
| Recurring financial income | 75 | €136 | €86 | -€50 | -36.5% |
| Financial charges | 65/66B | €23,835 | €93,037 | +€69,202 | +290.3% |
| Recurring financial charges | 65 | €23,835 | €93,037 | +€69,202 | +290.3% |
| Profit (loss) for the period before taxes | 9903 | €447,009 | €456,613 | +€9,604 | +2.1% |
| Income taxes | 67/77 | €113,334 | €117,587 | +€4,252 | +3.8% |
| Profit (loss) for the period | 9904 | €333,674 | €339,026 | +€5,351 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €333,674 | €339,026 | +€5,351 | +1.6% |
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 12 October 2026 via checked.be.