IMMO LOCARNO: 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 LOCARNO
Largest movements
- Cash +€110,776
up €110,776 (+128%), from €86,600 to €197,376
mainly Current investments (+€97,885) and Net result for the year (+€47,483)
- Current investments -€97,885
down €97,885 (-28.0%), from €350,000 to €252,115
- Tangible fixed assets -€18,350
down €18,350 (-4.0%), from €464,264 to €445,914
of which Land and buildings: -€16,281
- Debts after one year -€73,500
down €73,500 (-41.5%), from €177,250 to €103,750
- Reserves +€47,483
up €47,483 (+8.4%), from €564,913 to €612,395
of which Distributable reserves: +€51,302
- Gross operating margin -€2,503
down €2,503 (-2.2%), from €114,119 to €111,616
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 | €903,068 | €897,561 | -€5,508 | -0.6% |
| Fixed assets | 21/28 | €464,264 | €445,914 | -€18,350 | -4.0% |
| Tangible fixed assets | 22/27 | €464,264 | €445,914 | -€18,350 | -4.0% |
| Land and buildings | 22 | €460,371 | €444,090 | -€16,281 | -3.5% |
| Plant, machinery and equipment | 23 | €3,722 | €1,778 | -€1,943 | -52.2% |
| Furniture and vehicles | 24 | €171 | €46 | -€125 | -73.3% |
| Current assets | 29/58 | €438,804 | €451,646 | +€12,842 | +2.9% |
| Current investments | 50/53 | €350,000 | €252,115 | -€97,885 | -28.0% |
| Cash at bank and in hand | 54/58 | €86,600 | €197,376 | +€110,776 | +128% |
| Deferred charges and accrued income | 490/1 | €2,205 | €2,155 | -€50 | -2.3% |
| Total equity and liabilities | 10/49 | €903,068 | €897,561 | -€5,508 | -0.6% |
| Equity | 10/15 | €626,413 | €673,895 | +€47,483 | +7.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €564,913 | €612,395 | +€47,483 | +8.4% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €180,761 | €176,941 | -€3,820 | -2.1% |
| Distributable reserves | 133 | €378,002 | €429,304 | +€51,302 | +13.6% |
| Provisions and deferred taxes | 16 | €60,254 | €58,980 | -€1,273 | -2.1% |
| Deferred taxes | 168 | €60,254 | €58,980 | -€1,273 | -2.1% |
| Amounts payable | 17/49 | €216,402 | €164,685 | -€51,717 | -23.9% |
| Amounts payable after more than one year | 17 | €177,250 | €103,750 | -€73,500 | -41.5% |
| Financial debts | 170/4 | €177,250 | €103,750 | -€73,500 | -41.5% |
| Amounts payable within one year | 42/48 | €36,975 | €56,199 | +€19,224 | +52.0% |
| Current portion of amounts payable after more than one year | 42 | €22,500 | €22,500 | = | 0.0% |
| Trade debts | 44 | €1,476 | €10,089 | +€8,613 | +583% |
| Suppliers | 440/4 | €1,476 | €10,089 | +€8,613 | +583% |
| Taxes, remuneration and social security | 45 | €2,307 | €4,863 | +€2,556 | +111% |
| Taxes | 450/3 | €2,307 | €4,863 | +€2,556 | +111% |
| Other amounts payable | 47/48 | €10,692 | €18,747 | +€8,055 | +75.3% |
| Accrued charges and deferred income | 492/3 | €2,177 | €4,736 | +€2,559 | +118% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,455 | €36,925 | +€470 | +1.3% |
| Other operating charges | 640/8 | €8,157 | €8,583 | +€426 | +5.2% |
| Non-recurring operating charges | 66A | - | €71 | +€71 | |
| Gross operating margin | 9900 | €114,119 | €111,616 | -€2,503 | -2.2% |
| Operating profit (loss) | 9901 | €69,507 | €66,037 | -€3,470 | -5.0% |
| Financial income | 75/76B | €6,552 | €6,934 | +€383 | +5.8% |
| Recurring financial income | 75 | €6,552 | €6,934 | +€383 | +5.8% |
| Financial charges | 65/66B | €1,824 | €1,630 | -€194 | -10.7% |
| Recurring financial charges | 65 | €1,824 | €1,630 | -€194 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €74,235 | €71,342 | -€2,893 | -3.9% |
| Transfer from deferred taxes | 780 | €1,273 | €1,273 | = | 0.0% |
| Income taxes | 67/77 | €26,108 | €25,133 | -€976 | -3.7% |
| Profit (loss) for the period | 9904 | €49,400 | €47,483 | -€1,917 | -3.9% |
| Transfer from tax-exempt reserves | 789 | €3,820 | €3,820 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,219 | €51,302 | -€1,917 | -3.6% |
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 23 October 2026 via checked.be.