IMMO LENAERTS: 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 LENAERTS
Largest movements
- Tangible fixed assets -€502,420
down €502,420 (-98.2%), from €511,387 to €8,967
- Current investments -€487,476
down €487,476 (-16.0%), from €3.0m to €2.6m
- Financial fixed assets -€354,500
down €354,500 (-100%), from €354,500 to €0
- Cash +€97,684
up €97,684 (+29.3%), from €333,190 to €430,874
mainly Investment in fixed assets (net) (+€856,920) and Current investments (+€487,476)
- Reserves -€1.4m
down €1.4m (-35.9%), from €3.8m to €2.5m
of which Distributable reserves: -€1.4m
- Other debts +€300,000
new in 2025: €300,000
- Debts after one year -€128,526
down €128,526 (-100%), from €128,526 to €0
- Financial income -€204,584
down €204,584 (-52.0%), from €393,161 to €188,577
- Gross operating margin +€104,517
up €104,517, from -€7,378 to €97,139
- Taxes +€37,476
new in 2025: €37,476
- Financial charges +€15,636
up €15,636 (+57.2%), from €27,358 to €42,994
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 | €4,400,917 | €3,176,616 | -€1.2m | -27.8% |
| Fixed assets | 21/28 | €865,887 | €8,967 | -€856,920 | -99.0% |
| Tangible fixed assets | 22/27 | €511,387 | €8,967 | -€502,420 | -98.2% |
| Land and buildings | 22 | €511,387 | €8,967 | -€502,420 | -98.2% |
| Financial fixed assets | 28 | €354,500 | €0 | -€354,500 | -100% |
| Current assets | 29/58 | €3,535,029 | €3,167,649 | -€367,380 | -10.4% |
| Amounts receivable within one year | 40/41 | €163,607 | €186,019 | +€22,412 | +13.7% |
| Trade receivables | 40 | €17,256 | €0 | -€17,256 | -100% |
| Other amounts receivable | 41 | €146,352 | €186,019 | +€39,667 | +27.1% |
| Current investments | 50/53 | €3,038,232 | €2,550,756 | -€487,476 | -16.0% |
| Cash at bank and in hand | 54/58 | €333,190 | €430,874 | +€97,684 | +29.3% |
| Total equity and liabilities | 10/49 | €4,400,917 | €3,176,616 | -€1.2m | -27.8% |
| Equity | 10/15 | €4,256,797 | €2,876,616 | -€1.4m | -32.4% |
| Contributions | 10/11 | €411,000 | €411,000 | = | 0.0% |
| Capital | 10 | €411,000 | €411,000 | = | 0.0% |
| Issued capital | 100 | €411,000 | €411,000 | = | 0.0% |
| Reserves | 13 | €3,845,797 | €2,465,616 | -€1.4m | -35.9% |
| Non-distributable reserves | 130/1 | €41,100 | €41,100 | = | 0.0% |
| Legal reserve | 130 | €41,100 | €41,100 | = | 0.0% |
| Distributable reserves | 133 | €3,804,697 | €2,424,516 | -€1.4m | -36.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €144,120 | €300,000 | +€155,880 | +108% |
| Amounts payable after more than one year | 17 | €128,526 | €0 | -€128,526 | -100% |
| Financial debts | 170/4 | €128,526 | €0 | -€128,526 | -100% |
| Amounts payable within one year | 42/48 | €15,594 | €300,000 | +€284,406 | +1,824% |
| Current portion of amounts payable after more than one year | 42 | €14,030 | €0 | -€14,030 | -100% |
| Taxes, remuneration and social security | 45 | €1,565 | €0 | -€1,565 | -100% |
| Taxes | 450/3 | €1,565 | €0 | -€1,565 | -100% |
| Other amounts payable | 47/48 | - | €300,000 | +€300,000 | |
| Other operating charges | 640/8 | €4,423 | €4,661 | +€238 | +5.4% |
| Non-recurring operating charges | 66A | - | €7,434 | +€7,434 | |
| Gross operating margin | 9900 | -€7,378 | €97,139 | +€104,517 | |
| Operating profit (loss) | 9901 | -€11,800 | €85,044 | +€96,844 | |
| Financial income | 75/76B | €393,161 | €188,577 | -€204,584 | -52.0% |
| Recurring financial income | 75 | €393,161 | €188,577 | -€204,584 | -52.0% |
| Financial charges | 65/66B | €27,358 | €42,994 | +€15,636 | +57.2% |
| Recurring financial charges | 65 | €27,358 | €42,994 | +€15,636 | +57.2% |
| Profit (loss) for the period before taxes | 9903 | €354,003 | €230,626 | -€123,377 | -34.9% |
| Income taxes | 67/77 | - | €37,476 | +€37,476 | |
| Profit (loss) for the period | 9904 | €354,003 | €193,151 | -€160,852 | -45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €354,003 | €193,151 | -€160,852 | -45.4% |
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 30 October 2026 via checked.be.