IMMO NAESSENS: 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 NAESSENS
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts -€1.3m
down €1.3m (-97.0%), from €1.4m to €40,788
- Debts after one year +€1.3m
up €1.3m (+106%), from €1.2m to €2.5m
- Trade debts -€138,187
down €138,187 (-26.1%), from €529,111 to €390,924
- Current portion of long-term debt +€91,508
up €91,508 (+63.0%), from €145,217 to €236,726
- Reserves +€85,213
up €85,213 (+16.8%), from €506,736 to €591,950
of which Distributable reserves: +€117,232
- Gross operating margin +€90,251
up €90,251 (+25.5%), from €354,370 to €444,621
- Depreciation +€34,440
up €34,440 (+17.7%), from €194,966 to €229,405
- Write-downs -€29,696
down €29,696, from €14,448 to -€15,248
- Taxes +€13,345
up €13,345 (+79.4%), from €16,809 to €30,154
- Other operating charges -€10,157
down €10,157 (-28.3%), from €35,914 to €25,757
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 | €5,018,968 | €4,986,987 | -€31,981 | -0.6% |
| Fixed assets | 21/28 | €4,958,343 | €4,911,047 | -€47,296 | -1.0% |
| Tangible fixed assets | 22/27 | €4,938,343 | €4,891,047 | -€47,296 | -1.0% |
| Land and buildings | 22 | €4,889,924 | €4,794,021 | -€95,903 | -2.0% |
| Plant, machinery and equipment | 23 | €34,644 | €87,988 | +€53,344 | +154% |
| Furniture and vehicles | 24 | €13,775 | €9,037 | -€4,737 | -34.4% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €60,626 | €75,941 | +€15,315 | +25.3% |
| Amounts receivable within one year | 40/41 | €8,231 | €3,388 | -€4,843 | -58.8% |
| Trade receivables | 40 | €8,231 | €3,388 | -€4,843 | -58.8% |
| Cash at bank and in hand | 54/58 | €19,465 | €26,121 | +€6,655 | +34.2% |
| Deferred charges and accrued income | 490/1 | €32,929 | €46,432 | +€13,502 | +41.0% |
| Total equity and liabilities | 10/49 | €5,018,968 | €4,986,987 | -€31,981 | -0.6% |
| Equity | 10/15 | €1,662,847 | €1,748,060 | +€85,213 | +5.1% |
| Contributions | 10/11 | €836,110 | €836,110 | = | 0.0% |
| Revaluation surpluses | 12 | €320,000 | €320,000 | = | 0.0% |
| Reserves | 13 | €506,736 | €591,950 | +€85,213 | +16.8% |
| Non-distributable reserves | 130/1 | €24,549 | - | -€24,549 | |
| Reserves not available under the articles | 1311 | €24,549 | - | -€24,549 | |
| Tax-exempt reserves | 132 | €201,855 | €194,386 | -€7,469 | -3.7% |
| Distributable reserves | 133 | €280,332 | €397,564 | +€117,232 | +41.8% |
| Provisions and deferred taxes | 16 | €67,285 | €64,795 | -€2,490 | -3.7% |
| Deferred taxes | 168 | €67,285 | €64,795 | -€2,490 | -3.7% |
| Amounts payable | 17/49 | €3,288,837 | €3,174,132 | -€114,705 | -3.5% |
| Amounts payable after more than one year | 17 | €1,200,701 | €2,469,147 | +€1.3m | +106% |
| Financial debts | 170/4 | €1,200,701 | €2,469,147 | +€1.3m | +106% |
| Amounts payable within one year | 42/48 | €2,087,135 | €702,985 | -€1.4m | -66.3% |
| Current portion of amounts payable after more than one year | 42 | €145,217 | €236,726 | +€91,508 | +63.0% |
| Trade debts | 44 | €529,111 | €390,924 | -€138,187 | -26.1% |
| Suppliers | 440/4 | €529,111 | €390,924 | -€138,187 | -26.1% |
| Taxes, remuneration and social security | 45 | €34,308 | €34,547 | +€239 | +0.7% |
| Taxes | 450/3 | €34,308 | €34,547 | +€239 | +0.7% |
| Other amounts payable | 47/48 | €1,378,499 | €40,788 | -€1.3m | -97.0% |
| Accrued charges and deferred income | 492/3 | €1,000 | €2,000 | +€1,000 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194,966 | €229,405 | +€34,440 | +17.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,448 | -€15,248 | -€29,696 | |
| Other operating charges | 640/8 | €35,914 | €25,757 | -€10,157 | -28.3% |
| Non-recurring operating charges | 66A | - | €42,220 | +€42,220 | |
| Gross operating margin | 9900 | €354,370 | €444,621 | +€90,251 | +25.5% |
| Operating profit (loss) | 9901 | €109,043 | €162,487 | +€53,445 | +49.0% |
| Financial charges | 65/66B | €54,544 | €49,609 | -€4,935 | -9.0% |
| Recurring financial charges | 65 | €54,544 | €49,609 | -€4,935 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €54,499 | €112,878 | +€58,379 | +107% |
| Transfer from deferred taxes | 780 | €2,490 | €2,490 | +€0 | 0.0% |
| Income taxes | 67/77 | €16,809 | €30,154 | +€13,345 | +79.4% |
| Profit (loss) for the period | 9904 | €40,179 | €85,213 | +€45,034 | +112% |
| Transfer from tax-exempt reserves | 789 | €7,469 | €7,469 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,649 | €92,683 | +€45,034 | +94.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.