IMMO LEOPOLD II: what changed
What changed
IMMO LEOPOLD II
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
-€8,908
2024 · -€53,059+€44,151
Equity
€917,782
2024 · €926,690-€8,908
Cash
€79,346
2024 · €157,937-€78,591
Balance sheet total
€2.6m
2024 · €2.7m-€109,340
Largest movements
Assets
- Tangible fixed assets -€128,412
down €128,412 (-5.4%), from €2.4m to €2.2m
of which Land and buildings: -€121,433
- Receivables within one year +€104,251
up €104,251 (+160%), from €65,041 to €169,292
of which Trade receivables: +€104,251
- Cash -€78,591
down €78,591 (-49.8%), from €157,937 to €79,346
mainly Receivables within one year (-€104,251) and Debts after one year (-€89,894)
Equity and liabilities
- Debts after one year -€89,894
down €89,894 (-5.8%), from €1.6m to €1.5m
Income statement
- Depreciation -€30,713
down €30,713 (-18.8%), from €163,606 to €132,893
- Other operating charges -€14,452
down €14,452 (-28.1%), from €51,460 to €37,008
- Gross operating margin -€6,300
down €6,300 (-3.0%), from €213,119 to €206,819
- Staff costs -€3,798
down €3,798 (-12.1%), from €31,453 to €27,654
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€53,059
Gross operating margin
-€6,300
Staff costs
+€3,798
Depreciation
+€30,713
Other operating charges
+€14,452
Financial charges
+€1,488
Result 2025
-€8,908
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€10,334
Investment
€0
Financing
-€88,925
Cash 2024
€157,937
From operations (derived)
+€10,334
Net result for the year
-€8,908
Depreciation
+€132,893
Receivables within one year
-€104,251
Deferred charges and accrued income
+€2,106
Trade debts
-€11,229
Smaller working-capital items
-€279
Financing
-€88,925
Debts after one year
-€89,894
Current portion of long-term debt
+€969
Cash 2025
€79,346
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,682,107 | €2,572,767 | -€109,340 | -4.1% |
| Fixed assets | 21/28 | €2,455,394 | €2,322,501 | -€132,893 | -5.4% |
| Intangible fixed assets | 21 | €75,916 | €71,435 | -€4,481 | -5.9% |
| Tangible fixed assets | 22/27 | €2,378,054 | €2,249,642 | -€128,412 | -5.4% |
| Land and buildings | 22 | €2,354,345 | €2,232,911 | -€121,433 | -5.2% |
| Plant, machinery and equipment | 23 | €22,139 | €15,378 | -€6,761 | -30.5% |
| Furniture and vehicles | 24 | €1,570 | €1,353 | -€217 | -13.8% |
| Financial fixed assets | 28 | €1,424 | €1,424 | = | 0.0% |
| Current assets | 29/58 | €226,713 | €250,266 | +€23,553 | +10.4% |
| Amounts receivable within one year | 40/41 | €65,041 | €169,292 | +€104,251 | +160% |
| Trade receivables | 40 | €43,736 | €147,987 | +€104,251 | +238% |
| Other amounts receivable | 41 | €21,305 | €21,305 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €157,937 | €79,346 | -€78,591 | -49.8% |
| Deferred charges and accrued income | 490/1 | €3,735 | €1,629 | -€2,106 | -56.4% |
| Total equity and liabilities | 10/49 | €2,682,107 | €2,572,767 | -€109,340 | -4.1% |
| Equity | 10/15 | €926,690 | €917,782 | -€8,908 | -1.0% |
| Contributions | 10/11 | €890,634 | €890,634 | = | 0.0% |
| Capital | 10 | €890,634 | €890,634 | = | 0.0% |
| Issued capital | 100 | €890,634 | €890,634 | = | 0.0% |
| Reserves | 13 | €34,191 | €34,191 | = | 0.0% |
| Non-distributable reserves | 130/1 | €34,191 | €34,191 | = | 0.0% |
| Legal reserve | 130 | €34,191 | €34,191 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,865 | -€7,043 | -€8,908 | |
| Amounts payable | 17/49 | €1,755,418 | €1,654,985 | -€100,432 | -5.7% |
| Amounts payable after more than one year | 17 | €1,561,883 | €1,471,989 | -€89,894 | -5.8% |
| Financial debts | 170/4 | €1,561,883 | €1,471,989 | -€89,894 | -5.8% |
| Amounts payable within one year | 42/48 | €193,535 | €182,996 | -€10,539 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €88,925 | €89,894 | +€969 | +1.1% |
| Trade debts | 44 | €77,797 | €66,568 | -€11,229 | -14.4% |
| Suppliers | 440/4 | €77,797 | €66,568 | -€11,229 | -14.4% |
| Taxes, remuneration and social security | 45 | €2,024 | €1,809 | -€214 | -10.6% |
| Remuneration and social security | 454/9 | €2,024 | €1,809 | -€214 | -10.6% |
| Other amounts payable | 47/48 | €24,789 | €24,725 | -€64 | -0.3% |
| Remuneration, social security and pensions | 62 | €31,453 | €27,654 | -€3,798 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,606 | €132,893 | -€30,713 | -18.8% |
| Other operating charges | 640/8 | €51,460 | €37,008 | -€14,452 | -28.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €213,119 | €206,819 | -€6,300 | -3.0% |
| Operating profit (loss) | 9901 | -€33,400 | €9,263 | +€42,663 | |
| Financial charges | 65/66B | €19,659 | €18,171 | -€1,488 | -7.6% |
| Recurring financial charges | 65 | €19,659 | €18,171 | -€1,488 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | -€53,059 | -€8,908 | +€44,151 | +83.2% |
| Profit (loss) for the period | 9904 | -€53,059 | -€8,908 | +€44,151 | +83.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,059 | -€8,908 | +€44,151 | +83.2% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.