IMMO & MANAGEMENT D'HAESE: 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 & MANAGEMENT D'HAESE
Largest movements
- Cash -€85,879
down €85,879 (-53.7%), from €159,970 to €74,091
mainly Investment in fixed assets (net) (-€72,600) and Contributions, distributions and other (-€72,369)
- Tangible fixed assets +€72,341
up €72,341 (+52.2%), from €138,621 to €210,962
of which Plant, machinery and equipment: +€72,341
- Receivables within one year -€47,899
down €47,899 (-79.2%), from €60,513 to €12,614
- Current investments -€9,700
no longer reported in 2025 (was €9,700)
- Reserves -€53,899
down €53,899 (-48.6%), from €110,993 to €57,095
of which Distributable reserves: -€53,899
- Tax, wage and social debts -€19,922
down €19,922 (-83.0%), from €23,989 to €4,067
- Other debts +€12,600
up €12,600 (+21.0%), from €60,000 to €72,600
- Provisions -€9,916
no longer reported in 2025 (was €9,916)
- Gross operating margin -€65,584
down €65,584 (-69.9%), from €93,807 to €28,223
- Taxes -€19,910
down €19,910 (-83.0%), from €23,989 to €4,080
- Financial income -€3,412
down €3,412 (-95.8%), from €3,560 to €148
- Other operating charges -€2,775
down €2,775 (-34.1%), from €8,128 to €5,353
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 | €368,950 | €297,814 | -€71,136 | -19.3% |
| Fixed assets | 21/28 | €138,767 | €211,109 | +€72,341 | +52.1% |
| Tangible fixed assets | 22/27 | €138,621 | €210,962 | +€72,341 | +52.2% |
| Land and buildings | 22 | €138,621 | €138,621 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €72,341 | +€72,341 | |
| Financial fixed assets | 28 | €147 | €147 | = | 0.0% |
| Current assets | 29/58 | €230,183 | €86,705 | -€143,478 | -62.3% |
| Amounts receivable within one year | 40/41 | €60,513 | €12,614 | -€47,899 | -79.2% |
| Other amounts receivable | 41 | €60,513 | €12,614 | -€47,899 | -79.2% |
| Current investments | 50/53 | €9,700 | - | -€9,700 | |
| Cash at bank and in hand | 54/58 | €159,970 | €74,091 | -€85,879 | -53.7% |
| Total equity and liabilities | 10/49 | €368,950 | €297,814 | -€71,136 | -19.3% |
| Equity | 10/15 | €275,045 | €221,147 | -€53,899 | -19.6% |
| Contributions | 10/11 | €164,052 | €164,052 | = | 0.0% |
| Capital | 10 | €164,052 | €164,052 | = | 0.0% |
| Issued capital | 100 | €164,052 | €164,052 | = | 0.0% |
| Reserves | 13 | €110,993 | €57,095 | -€53,899 | -48.6% |
| Non-distributable reserves | 130/1 | €28,709 | €28,709 | = | 0.0% |
| Legal reserve | 130 | €28,709 | €28,709 | = | 0.0% |
| Distributable reserves | 133 | €82,284 | €28,386 | -€53,899 | -65.5% |
| Provisions and deferred taxes | 16 | €9,916 | - | -€9,916 | |
| Provisions for liabilities and charges | 160/5 | €9,916 | - | -€9,916 | |
| Pensions and similar obligations | 160 | €9,916 | - | -€9,916 | |
| Amounts payable | 17/49 | €83,989 | €76,667 | -€7,322 | -8.7% |
| Amounts payable within one year | 42/48 | €83,989 | €76,667 | -€7,322 | -8.7% |
| Taxes, remuneration and social security | 45 | €23,989 | €4,067 | -€19,922 | -83.0% |
| Taxes | 450/3 | €23,989 | €4,067 | -€19,922 | -83.0% |
| Other amounts payable | 47/48 | €60,000 | €72,600 | +€12,600 | +21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €259 | +€259 | |
| Other operating charges | 640/8 | €8,128 | €5,353 | -€2,775 | -34.1% |
| Gross operating margin | 9900 | €93,807 | €28,223 | -€65,584 | -69.9% |
| Operating profit (loss) | 9901 | €85,679 | €22,611 | -€63,068 | -73.6% |
| Financial income | 75/76B | €3,560 | €148 | -€3,412 | -95.8% |
| Recurring financial income | 75 | €3,560 | €148 | -€3,412 | -95.8% |
| Financial charges | 65/66B | €204 | €210 | +€5 | +2.6% |
| Recurring financial charges | 65 | €204 | €210 | +€5 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €89,034 | €22,550 | -€66,485 | -74.7% |
| Transfer to deferred taxes | 680 | €1,000 | - | -€1,000 | |
| Income taxes | 67/77 | €23,989 | €4,080 | -€19,910 | -83.0% |
| Profit (loss) for the period | 9904 | €64,045 | €18,470 | -€45,575 | -71.2% |
| Transfer from tax-exempt reserves | 789 | - | €9,916 | +€9,916 | |
| Profit (loss) for the period to be appropriated | 9905 | €64,045 | €28,386 | -€35,659 | -55.7% |
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 1 November 2026 via checked.be.