IMMO-LOUISE: 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-LOUISE
Largest movements
- Tangible fixed assets -€26,722
down €26,722 (-5.3%), from €501,991 to €475,269
of which Land and buildings: -€16,670
- Reserves -€64,280
down €64,280 (-18.7%), from €343,717 to €279,438
of which Distributable reserves: -€54,082
- Other debts +€48,871
up €48,871 (+1,442%), from €3,390 to €52,261
- Debts after one year -€8,795
no longer reported in 2026 (was €8,795)
- Gross operating margin +€3,347
up €3,347 (+15.0%), from €22,257 to €25,604
- Taxes +€1,696
up €1,696 (+127%), from €1,331 to €3,027
- Depreciation -€1,344
down €1,344 (-4.8%), from €28,066 to €26,722
- Financial income -€971
no longer reported in 2026 (was €971)
- Financial charges -€763
down €763 (-43.7%), from €1,744 to €981
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €516,891 | €488,872 | -€28,019 | -5.4% |
| Fixed assets | 21/28 | €501,991 | €475,269 | -€26,722 | -5.3% |
| Tangible fixed assets | 22/27 | €501,991 | €475,269 | -€26,722 | -5.3% |
| Land and buildings | 22 | €467,212 | €450,543 | -€16,670 | -3.6% |
| Plant, machinery and equipment | 23 | €31,982 | €22,569 | -€9,413 | -29.4% |
| Furniture and vehicles | 24 | €2,797 | €2,158 | -€639 | -22.9% |
| Current assets | 29/58 | €14,899 | €13,603 | -€1,297 | -8.7% |
| Amounts receivable within one year | 40/41 | - | €320 | +€320 | |
| Trade receivables | 40 | - | €320 | +€320 | |
| Cash at bank and in hand | 54/58 | €11,799 | €12,048 | +€249 | +2.1% |
| Deferred charges and accrued income | 490/1 | €3,100 | €1,235 | -€1,865 | -60.2% |
| Total equity and liabilities | 10/49 | €516,891 | €488,872 | -€28,019 | -5.4% |
| Equity | 10/15 | €420,564 | €356,285 | -€64,280 | -15.3% |
| Contributions | 10/11 | €76,847 | €76,847 | = | 0.0% |
| Reserves | 13 | €343,717 | €279,438 | -€64,280 | -18.7% |
| Non-distributable reserves | 130/1 | €5,782 | €5,782 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,782 | €5,782 | = | 0.0% |
| Tax-exempt reserves | 132 | €230,191 | €219,993 | -€10,198 | -4.4% |
| Distributable reserves | 133 | €107,744 | €53,662 | -€54,082 | -50.2% |
| Provisions and deferred taxes | 16 | €71,397 | €67,998 | -€3,399 | -4.8% |
| Deferred taxes | 168 | €71,397 | €67,998 | -€3,399 | -4.8% |
| Amounts payable | 17/49 | €24,929 | €64,590 | +€39,661 | +159% |
| Amounts payable after more than one year | 17 | €8,795 | - | -€8,795 | |
| Financial debts | 170/4 | €8,795 | - | -€8,795 | |
| Amounts payable within one year | 42/48 | €14,753 | €64,190 | +€49,437 | +335% |
| Current portion of amounts payable after more than one year | 42 | €9,807 | €8,832 | -€975 | -9.9% |
| Trade debts | 44 | €224 | €148 | -€76 | -33.9% |
| Suppliers | 440/4 | €224 | €148 | -€76 | -33.9% |
| Taxes, remuneration and social security | 45 | €1,331 | €2,948 | +€1,617 | +121% |
| Taxes | 450/3 | €1,331 | €2,948 | +€1,617 | +121% |
| Other amounts payable | 47/48 | €3,390 | €52,261 | +€48,871 | +1,442% |
| Accrued charges and deferred income | 492/3 | €1,381 | €400 | -€981 | -71.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,066 | €26,722 | -€1,344 | -4.8% |
| Other operating charges | 640/8 | €2,874 | €2,637 | -€236 | -8.2% |
| Gross operating margin | 9900 | €22,257 | €25,604 | +€3,347 | +15.0% |
| Operating profit (loss) | 9901 | -€8,682 | -€3,755 | +€4,926 | +56.7% |
| Financial income | 75/76B | €971 | - | -€971 | |
| Recurring financial income | 75 | €971 | - | -€971 | |
| Financial charges | 65/66B | €1,744 | €981 | -€763 | -43.7% |
| Recurring financial charges | 65 | €1,744 | €981 | -€763 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | -€9,454 | -€4,737 | +€4,718 | +49.9% |
| Transfer from deferred taxes | 780 | €3,399 | €3,399 | = | 0.0% |
| Income taxes | 67/77 | €1,331 | €3,027 | +€1,696 | +127% |
| Profit (loss) for the period | 9904 | -€7,386 | -€4,365 | +€3,022 | +40.9% |
| Transfer from tax-exempt reserves | 789 | €10,198 | €10,198 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,812 | €5,833 | +€3,022 | +107% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.