IMMO LISENS: 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 LISENS
Largest movements
- Stocks and contracts +€207,168
up €207,168 (+233.4%), from €88,757 to €295,925
- Tangible fixed assets +€103,666
up €103,666 (+13.0%), from €799,184 to €902,850
- Deferred charges and accrued income -€93,855
down €93,855 (-97.6%), from €96,179 to €2,324
- Cash -€52,557
down €52,557 (-85.2%), from €61,699 to €9,141
mainly Stocks and contracts (-€207,168) and Investment in fixed assets (net) (-€122,495)
- Revaluation surpluses +€120,200
new in 2025: €120,200
- Other debts +€67,214
up €67,214 (+14.8%), from €454,797 to €522,011
- Short-term financial debts -€18,000
down €18,000 (-4.7%), from €383,000 to €365,000
- Debts after one year -€17,511
down €17,511 (-10.7%), from €164,107 to €146,596
- Reserves +€14,222
up €14,222 (+58.5%), from €24,323 to €38,545
- Financial charges -€16,275
down €16,275 (-51.1%), from €31,838 to €15,563
of which Non-recurring financial charges: -€11,256
- Gross operating margin -€12,911
down €12,911 (-17.1%), from €75,371 to €62,460
- Depreciation -€4,863
down €4,863 (-20.5%), from €23,692 to €18,829
- Taxes +€3,430
up €3,430 (+75.7%), from €4,533 to €7,963
- Other operating charges +€2,369
up €2,369 (+67.4%), from €3,514 to €5,883
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 | €1,077,706 | €1,240,008 | +€162,302 | +15.1% |
| Fixed assets | 21/28 | €799,184 | €902,850 | +€103,666 | +13.0% |
| Tangible fixed assets | 22/27 | €799,184 | €902,850 | +€103,666 | +13.0% |
| Land and buildings | 22 | €799,184 | €902,850 | +€103,666 | +13.0% |
| Current assets | 29/58 | €278,521 | €337,158 | +€58,636 | +21.1% |
| Stocks and contracts in progress | 3 | €88,757 | €295,925 | +€207,168 | +233.4% |
| Stocks | 30/36 | €88,757 | €295,925 | +€207,168 | +233.4% |
| Amounts receivable within one year | 40/41 | €31,886 | €29,767 | -€2,119 | -6.6% |
| Trade receivables | 40 | €18,288 | €16,868 | -€1,420 | -7.8% |
| Other amounts receivable | 41 | €13,598 | €12,899 | -€699 | -5.1% |
| Cash at bank and in hand | 54/58 | €61,699 | €9,141 | -€52,557 | -85.2% |
| Deferred charges and accrued income | 490/1 | €96,179 | €2,324 | -€93,855 | -97.6% |
| Total equity and liabilities | 10/49 | €1,077,706 | €1,240,008 | +€162,302 | +15.1% |
| Equity | 10/15 | €42,923 | €177,345 | +€134,422 | +313.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | - | €120,200 | +€120,200 | |
| Reserves | 13 | €24,323 | €38,545 | +€14,222 | +58.5% |
| Distributable reserves | 133 | €24,323 | €38,545 | +€14,222 | +58.5% |
| Amounts payable | 17/49 | €1,034,783 | €1,062,663 | +€27,880 | +2.7% |
| Amounts payable after more than one year | 17 | €164,107 | €146,596 | -€17,511 | -10.7% |
| Financial debts | 170/4 | €164,107 | €146,596 | -€17,511 | -10.7% |
| Amounts payable within one year | 42/48 | €869,217 | €914,842 | +€45,625 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €17,263 | €17,511 | +€248 | +1.4% |
| Financial debts | 43 | €383,000 | €365,000 | -€18,000 | -4.7% |
| Credit institutions | 430/8 | €383,000 | €365,000 | -€18,000 | -4.7% |
| Trade debts | 44 | €12,769 | €1,832 | -€10,937 | -85.7% |
| Suppliers | 440/4 | €12,769 | €1,832 | -€10,937 | -85.7% |
| Taxes, remuneration and social security | 45 | €1,388 | €8,488 | +€7,100 | +511.4% |
| Taxes | 450/3 | €1,388 | €8,488 | +€7,100 | +511.4% |
| Other amounts payable | 47/48 | €454,797 | €522,011 | +€67,214 | +14.8% |
| Accrued charges and deferred income | 492/3 | €1,459 | €1,225 | -€234 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,692 | €18,829 | -€4,863 | -20.5% |
| Other operating charges | 640/8 | €3,514 | €5,883 | +€2,369 | +67.4% |
| Gross operating margin | 9900 | €75,371 | €62,460 | -€12,911 | -17.1% |
| Operating profit (loss) | 9901 | €48,165 | €37,748 | -€10,417 | -21.6% |
| Financial income | 75/76B | €1,485 | - | -€1,485 | |
| Recurring financial income | 75 | €1,485 | - | -€1,485 | |
| Financial charges | 65/66B | €31,838 | €15,563 | -€16,275 | -51.1% |
| Recurring financial charges | 65 | €20,582 | €15,563 | -€5,019 | -24.4% |
| Non-recurring financial charges | 66B | €11,256 | - | -€11,256 | |
| Profit (loss) for the period before taxes | 9903 | €17,812 | €22,185 | +€4,373 | +24.6% |
| Income taxes | 67/77 | €4,533 | €7,963 | +€3,430 | +75.7% |
| Profit (loss) for the period | 9904 | €13,279 | €14,222 | +€943 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,279 | €14,222 | +€943 | +7.1% |
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 3 October 2026 via checked.be.