IMMO NAS: what changed
Two fiscal 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 NAS
Largest movements
- Financial fixed assets -€241,542
down €241,542 (-71.4%), from €338,510 to €96,968
- Cash +€90,528
up €90,528 (+84.2%), from €107,517 to €198,045
mainly Investment in fixed assets (net) (+€176,046) and Depreciation (+€33,136)
- Tangible fixed assets +€32,360
up €32,360 (+9.8%), from €329,416 to €361,776
of which Furniture and vehicles: +€50,288
- Profit (loss) carried forward -€82,829
down €82,829 (-56.6%), from €146,327 to €63,499
- Debts after one year -€28,742
down €28,742 (-5.8%), from €493,585 to €464,843
- Financial charges +€59,493
up €59,493 (+1033.2%), from €5,758 to €65,251
of which Non-recurring financial charges: +€63,805
- Depreciation +€15,208
up €15,208 (+84.8%), from €17,929 to €33,136
- Financial income +€12,732
up €12,732 (+2834.8%), from €449 to €13,181
- Gross operating margin -€7,729
down €7,729 (-58.2%), from €13,275 to €5,546
- Other operating charges +€3,326
up €3,326 (+72.4%), from €4,592 to €7,918
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.
Cash bridge derived
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 | €777,332 | €660,268 | -€117,064 | -15.1% |
| Fixed assets | 21/28 | €667,926 | €458,745 | -€209,182 | -31.3% |
| Tangible fixed assets | 22/27 | €329,416 | €361,776 | +€32,360 | +9.8% |
| Land and buildings | 22 | €329,416 | €311,488 | -€17,929 | -5.4% |
| Furniture and vehicles | 24 | - | €50,288 | +€50,288 | |
| Financial fixed assets | 28 | €338,510 | €96,968 | -€241,542 | -71.4% |
| Current assets | 29/58 | €109,406 | €201,523 | +€92,117 | +84.2% |
| Amounts receivable within one year | 40/41 | €314 | - | -€314 | |
| Other amounts receivable | 41 | €314 | - | -€314 | |
| Cash at bank and in hand | 54/58 | €107,517 | €198,045 | +€90,528 | +84.2% |
| Deferred charges and accrued income | 490/1 | €1,575 | €3,478 | +€1,903 | +120.8% |
| Total equity and liabilities | 10/49 | €777,332 | €660,268 | -€117,064 | -15.1% |
| Equity | 10/15 | €230,688 | €144,298 | -€86,391 | -37.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €65,769 | €62,207 | -€3,562 | -5.4% |
| Tax-exempt reserves | 132 | €63,910 | €60,348 | -€3,562 | -5.6% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €146,327 | €63,499 | -€82,829 | -56.6% |
| Provisions and deferred taxes | 16 | €28,390 | €27,203 | -€1,187 | -4.2% |
| Deferred taxes | 168 | €28,390 | €27,203 | -€1,187 | -4.2% |
| Amounts payable | 17/49 | €518,254 | €488,768 | -€29,486 | -5.7% |
| Amounts payable after more than one year | 17 | €493,585 | €464,843 | -€28,742 | -5.8% |
| Financial debts | 170/4 | €493,585 | €464,843 | -€28,742 | -5.8% |
| Amounts payable within one year | 42/48 | €24,669 | €23,924 | -€744 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €12,751 | €13,326 | +€575 | +4.5% |
| Trade debts | 44 | €1,851 | €3,921 | +€2,070 | +111.9% |
| Suppliers | 440/4 | €1,851 | €3,921 | +€2,070 | +111.9% |
| Taxes, remuneration and social security | 45 | €3,420 | - | -€3,420 | |
| Taxes | 450/3 | €3,420 | - | -€3,420 | |
| Other amounts payable | 47/48 | €6,647 | €6,677 | +€30 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,929 | €33,136 | +€15,208 | +84.8% |
| Other operating charges | 640/8 | €4,592 | €7,918 | +€3,326 | +72.4% |
| Gross operating margin | 9900 | €13,275 | €5,546 | -€7,729 | -58.2% |
| Operating profit (loss) | 9901 | -€9,245 | -€35,508 | -€26,263 | -284.1% |
| Financial income | 75/76B | €449 | €13,181 | +€12,732 | +2834.8% |
| Recurring financial income | 75 | €449 | €13,181 | +€12,732 | +2834.8% |
| Financial charges | 65/66B | €5,758 | €65,251 | +€59,493 | +1033.2% |
| Recurring financial charges | 65 | €5,758 | €1,446 | -€4,312 | -74.9% |
| Non-recurring financial charges | 66B | - | €63,805 | +€63,805 | |
| Profit (loss) for the period before taxes | 9903 | -€14,554 | -€87,578 | -€73,024 | -501.7% |
| Transfer from deferred taxes | 780 | €1,187 | €1,187 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€13,367 | -€86,391 | -€73,024 | -546.3% |
| Transfer from tax-exempt reserves | 789 | €3,562 | €3,562 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,804 | -€82,829 | -€73,024 | -744.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.