IMMO LBM: 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 LBM
Largest movements
- Receivables within one year -€102,678
down €102,678 (-84.4%), from €121,700 to €19,023
of which Trade receivables: -€67,135
- Tangible fixed assets -€60,516
down €60,516 (-1.9%), from €3.2m to €3.1m
of which Land and buildings: -€59,743
- Cash +€45,093
up €45,093 (+165.5%), from €27,254 to €72,348
mainly Receivables within one year (+€102,678) and Depreciation (+€71,802)
- Debts after one year -€195,651
down €195,651 (-9.2%), from €2.1m to €1.9m
- Reserves +€44,560
up €44,560 (+9.9%), from €452,018 to €496,577
of which Distributable reserves: +€44,560
- Financial charges -€29,237
down €29,237 (-21.5%), from €135,858 to €106,621
- Gross operating margin -€26,598
down €26,598 (-8.8%), from €300,963 to €274,366
- Other operating charges -€3,353
down €3,353 (-8.4%), from €39,888 to €36,535
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 | €3,329,145 | €3,211,045 | -€118,101 | -3.5% |
| Fixed assets | 21/28 | €3,180,190 | €3,119,674 | -€60,516 | -1.9% |
| Tangible fixed assets | 22/27 | €3,180,190 | €3,119,674 | -€60,516 | -1.9% |
| Land and buildings | 22 | €3,178,581 | €3,118,838 | -€59,743 | -1.9% |
| Furniture and vehicles | 24 | €1,609 | €836 | -€773 | -48.0% |
| Current assets | 29/58 | €148,955 | €91,370 | -€57,584 | -38.7% |
| Amounts receivable within one year | 40/41 | €121,700 | €19,023 | -€102,678 | -84.4% |
| Trade receivables | 40 | €86,005 | €18,871 | -€67,135 | -78.1% |
| Other amounts receivable | 41 | €35,695 | €152 | -€35,543 | -99.6% |
| Cash at bank and in hand | 54/58 | €27,254 | €72,348 | +€45,093 | +165.5% |
| Total equity and liabilities | 10/49 | €3,329,145 | €3,211,045 | -€118,101 | -3.5% |
| Equity | 10/15 | €514,518 | €559,077 | +€44,560 | +8.7% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €452,018 | €496,577 | +€44,560 | +9.9% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €445,768 | €490,327 | +€44,560 | +10.0% |
| Amounts payable | 17/49 | €2,814,627 | €2,651,967 | -€162,660 | -5.8% |
| Amounts payable after more than one year | 17 | €2,115,538 | €1,919,888 | -€195,651 | -9.2% |
| Financial debts | 170/4 | €2,115,538 | €1,919,888 | -€195,651 | -9.2% |
| Amounts payable within one year | 42/48 | €675,753 | €705,748 | +€29,995 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €174,831 | €191,417 | +€16,586 | +9.5% |
| Trade debts | 44 | €96 | €112 | +€16 | +17.2% |
| Suppliers | 440/4 | €96 | €112 | +€16 | +17.2% |
| Taxes, remuneration and social security | 45 | €7,662 | €8,116 | +€454 | +5.9% |
| Taxes | 450/3 | €7,662 | €8,116 | +€454 | +5.9% |
| Other amounts payable | 47/48 | €493,163 | €506,101 | +€12,938 | +2.6% |
| Accrued charges and deferred income | 492/3 | €23,336 | €26,332 | +€2,996 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,569 | €71,802 | +€233 | +0.3% |
| Other operating charges | 640/8 | €39,888 | €36,535 | -€3,353 | -8.4% |
| Gross operating margin | 9900 | €300,963 | €274,366 | -€26,598 | -8.8% |
| Operating profit (loss) | 9901 | €189,507 | €166,029 | -€23,478 | -12.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €135,858 | €106,621 | -€29,237 | -21.5% |
| Recurring financial charges | 65 | €135,858 | €106,621 | -€29,237 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €53,648 | €59,408 | +€5,759 | +10.7% |
| Income taxes | 67/77 | €13,423 | €14,848 | +€1,425 | +10.6% |
| Profit (loss) for the period | 9904 | €40,226 | €44,560 | +€4,334 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,226 | €44,560 | +€4,334 | +10.8% |
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 4 October 2026 via checked.be.