IMMO LVT: 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.
What changed
IMMO LVT
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 31-12-2025 compared with 31-12-2024filed annual accounts (NBB)
Net result for the year
€70,269
31-12-2024 · -€199,409+€269,678
Equity
€560,035
31-12-2024 · €489,767+€70,269
Cash
€33,933
31-12-2024 · €16,433+€17,501
Balance sheet total
€3.4m
31-12-2024 · €3.4m-€46,965
Largest movements
Assets
- Tangible fixed assets -€654,727
down €654,727 (-19.2%), from €3.4m to €2.8m
of which Land and buildings: -€657,228
- Current investments +€587,684
new in 2025: €587,684
Equity and liabilities
- Other debts -€240,924
down €240,924 (-73.3%), from €328,748 to €87,823
- Tax, wage and social debts +€153,806
up €153,806 (+210%), from €73,360 to €227,166
- Profit (loss) carried forward +€70,269
up €70,269 (+10.2%), from -€690,693 to -€620,425
Income statement
- Other operating charges -€199,666
down €199,666 (-90.6%), from €220,430 to €20,764
- Depreciation +€188,367
up €188,367 (+57.5%), from €327,712 to €516,079
- Taxes +€187,374
up €187,374 (+966%), from €19,388 to €206,762
- Gross operating margin +€148,280
up €148,280 (+21.2%), from €700,784 to €849,064
From the 31-12-2024 result to the 31-12-2025 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.
Result 31-12-2024
-€199,409
Gross operating margin
+€148,280
Depreciation
-€188,367
Other operating charges
+€199,666
Other operating items
+€394,344
Financial income
+€4,257
Financial charges
+€3,258
Taxes
-€187,374
Deferred taxes and other
-€104,385
Result 31-12-2025
€70,269
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€480,992
Investment
-€449,036
Financing
-€14,455
Cash 31-12-2024
€16,433
From operations (derived)
+€480,992
Net result for the year
+€70,269
Depreciation
+€516,079
Smaller working-capital items
-€269
Deferred charges and accrued income
-€3,328
Trade debts
-€14,641
Tax, wage and social debts
+€153,806
Other debts
-€240,924
Investment (derived)
-€449,036
Investment in fixed assets (net)
+€138,648
Current investments
-€587,684
Financing
-€14,455
Debts after one year
-€14,720
Current portion of long-term debt
+€617
Short-term financial debts
-€352
Cash 31-12-2025
€33,933
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,439,314 | €3,392,350 | -€46,965 | -1.4% |
| Fixed assets | 21/28 | €3,418,855 | €2,764,128 | -€654,727 | -19.2% |
| Tangible fixed assets | 22/27 | €3,418,855 | €2,764,128 | -€654,727 | -19.2% |
| Land and buildings | 22 | €3,407,517 | €2,750,289 | -€657,228 | -19.3% |
| Furniture and vehicles | 24 | €11,338 | €13,839 | +€2,501 | +22.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €20,460 | €628,222 | +€607,762 | +2,971% |
| Amounts receivable within one year | 40/41 | €750 | €0 | -€750 | -100% |
| Trade receivables | 40 | €750 | €0 | -€750 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | - | €587,684 | +€587,684 | |
| Cash at bank and in hand | 54/58 | €16,433 | €33,933 | +€17,501 | +106% |
| Deferred charges and accrued income | 490/1 | €3,276 | €6,604 | +€3,328 | +102% |
| Total equity and liabilities | 10/49 | €3,439,314 | €3,392,350 | -€46,965 | -1.4% |
| Equity | 10/15 | €489,767 | €560,035 | +€70,269 | +14.3% |
| Contributions | 10/11 | €1,178,600 | €1,178,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€690,693 | -€620,425 | +€70,269 | +10.2% |
| Provisions and deferred taxes | 16 | €4,218 | €3,199 | -€1,019 | -24.2% |
| Deferred taxes | 168 | €4,218 | €3,199 | -€1,019 | -24.2% |
| Amounts payable | 17/49 | €2,945,330 | €2,829,116 | -€116,214 | -3.9% |
| Amounts payable after more than one year | 17 | €783,009 | €768,289 | -€14,720 | -1.9% |
| Financial debts | 170/4 | €783,009 | €768,289 | -€14,720 | -1.9% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €440,790 | €339,295 | -€101,495 | -23.0% |
| Current portion of amounts payable after more than one year | 42 | €14,103 | €14,720 | +€617 | +4.4% |
| Financial debts | 43 | €352 | €0 | -€352 | -100% |
| Credit institutions | 430/8 | €352 | €0 | -€352 | -100% |
| Trade debts | 44 | €24,227 | €9,586 | -€14,641 | -60.4% |
| Suppliers | 440/4 | €24,227 | €9,586 | -€14,641 | -60.4% |
| Taxes, remuneration and social security | 45 | €73,360 | €227,166 | +€153,806 | +210% |
| Taxes | 450/3 | €73,360 | €227,166 | +€153,806 | +210% |
| Other amounts payable | 47/48 | €328,748 | €87,823 | -€240,924 | -73.3% |
| Accrued charges and deferred income | 492/3 | €1,721,531 | €1,721,531 | = | 0.0% |
| Non-recurring operating income | 76A | €394,841 | €3,603 | -€391,238 | -99.1% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €327,712 | €516,079 | +€188,367 | +57.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €220,430 | €20,764 | -€199,666 | -90.6% |
| Non-recurring operating charges | 66A | €394,344 | €0 | -€394,344 | -100% |
| Gross operating margin | 9900 | €700,784 | €849,064 | +€148,280 | +21.2% |
| Operating profit (loss) | 9901 | -€241,702 | €312,221 | +€553,922 | |
| Financial income | 75/76B | €2 | €4,259 | +€4,257 | +267,753% |
| Recurring financial income | 75 | €2 | €4,259 | +€4,257 | +267,753% |
| Financial charges | 65/66B | €43,726 | €40,468 | -€3,258 | -7.4% |
| Recurring financial charges | 65 | €43,726 | €40,468 | -€3,258 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | -€285,426 | €276,011 | +€561,437 | |
| Transfer from deferred taxes | 780 | €105,404 | €1,019 | -€104,385 | -99.0% |
| Income taxes | 67/77 | €19,388 | €206,762 | +€187,374 | +966% |
| Profit (loss) for the period | 9904 | -€199,409 | €70,269 | +€269,678 | |
| Profit (loss) for the period to be appropriated | 9905 | -€199,409 | €70,269 | +€269,678 |
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 14 October 2026 via checked.be.