IMMO NDJ: 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 NDJ
Largest movements
- Current investments -€2.3m
down €2.3m (-81.6%), from €2.8m to €521,909
- Receivables after one year +€858,835
up €858,835 (+165.4%), from €519,130 to €1.4m
- Cash +€261,777
up €261,777 (+311.0%), from €84,173 to €345,950
mainly Current investments (+€2.3m) and Depreciation (+€56,513)
- Tangible fixed assets -€56,513
down €56,513 (-16.8%), from €336,854 to €280,341
of which Land and buildings: -€33,023
- Debts after one year -€1.2m
down €1.2m (-62.5%), from €1.9m to €725,379
- Tax, wage and social debts -€39,631
down €39,631 (-11.2%), from €353,236 to €313,605
of which Taxes: -€44,089
- Gross operating margin -€1.6m
down €1.6m, from €1.5m to -€99,466
- Taxes -€308,260
down €308,260 (-100.0%), from €308,383 to €123
- Financial income +€139,053
up €139,053 (+339.1%), from €41,012 to €180,065
of which Non-recurring financial income: +€97,804
- Depreciation -€19,545
down €19,545 (-25.7%), from €76,058 to €56,513
- Other operating charges -€18,794
down €18,794 (-56.2%), from €33,424 to €14,630
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 | €3,792,699 | €2,552,242 | -€1.2m | -32.7% |
| Fixed assets | 21/28 | €336,854 | €280,341 | -€56,513 | -16.8% |
| Tangible fixed assets | 22/27 | €336,854 | €280,341 | -€56,513 | -16.8% |
| Land and buildings | 22 | €262,231 | €229,208 | -€33,023 | -12.6% |
| Plant, machinery and equipment | 23 | €33,520 | €26,014 | -€7,506 | -22.4% |
| Furniture and vehicles | 24 | €41,103 | €25,119 | -€15,984 | -38.9% |
| Current assets | 29/58 | €3,455,845 | €2,271,901 | -€1.2m | -34.3% |
| Amounts receivable after more than one year | 29 | €519,130 | €1,377,965 | +€858,835 | +165.4% |
| Other amounts receivable | 291 | €519,130 | €1,377,965 | +€858,835 | +165.4% |
| Amounts receivable within one year | 40/41 | €3,641 | €8,197 | +€4,555 | +125.1% |
| Other amounts receivable | 41 | €3,641 | €8,197 | +€4,555 | +125.1% |
| Current investments | 50/53 | €2,837,366 | €521,909 | -€2.3m | -81.6% |
| Cash at bank and in hand | 54/58 | €84,173 | €345,950 | +€261,777 | +311.0% |
| Deferred charges and accrued income | 490/1 | €11,536 | €17,881 | +€6,345 | +55.0% |
| Total equity and liabilities | 10/49 | €3,792,699 | €2,552,242 | -€1.2m | -32.7% |
| Equity | 10/15 | €1,221,505 | €1,230,077 | +€8,573 | +0.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,160,005 | €1,168,577 | +€8,573 | +0.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €1,153,855 | €1,162,427 | +€8,573 | +0.7% |
| Amounts payable | 17/49 | €2,571,195 | €1,322,165 | -€1.2m | -48.6% |
| Amounts payable after more than one year | 17 | €1,933,438 | €725,379 | -€1.2m | -62.5% |
| Financial debts | 170/4 | €1,933,438 | €725,379 | -€1.2m | -62.5% |
| Amounts payable within one year | 42/48 | €637,756 | €596,787 | -€40,970 | -6.4% |
| Trade debts | 44 | €11,598 | €10,260 | -€1,339 | -11.5% |
| Suppliers | 440/4 | €11,598 | €10,260 | -€1,339 | -11.5% |
| Taxes, remuneration and social security | 45 | €353,236 | €313,605 | -€39,631 | -11.2% |
| Taxes | 450/3 | €353,236 | €309,147 | -€44,089 | -12.5% |
| Remuneration and social security | 454/9 | - | €4,457 | +€4,457 | |
| Other amounts payable | 47/48 | €272,922 | €272,922 | = | 0.0% |
| Non-recurring operating income | 76A | €1,654,344 | - | -€1.7m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,058 | €56,513 | -€19,545 | -25.7% |
| Other operating charges | 640/8 | €33,424 | €14,630 | -€18,794 | -56.2% |
| Gross operating margin | 9900 | €1,531,471 | -€99,466 | -€1.6m | |
| Operating profit (loss) | 9901 | €1,421,989 | -€170,609 | -€1.6m | |
| Financial income | 75/76B | €41,012 | €180,065 | +€139,053 | +339.1% |
| Recurring financial income | 75 | €14,254 | €55,502 | +€41,248 | +289.4% |
| Non-recurring financial income | 76B | €26,758 | €124,563 | +€97,804 | +365.5% |
| Financial charges | 65/66B | €3,755 | €760 | -€2,995 | -79.8% |
| Recurring financial charges | 65 | €3,755 | €760 | -€2,995 | -79.8% |
| Profit (loss) for the period before taxes | 9903 | €1,459,246 | €8,696 | -€1.5m | -99.4% |
| Income taxes | 67/77 | €308,383 | €123 | -€308,260 | -100.0% |
| Profit (loss) for the period | 9904 | €1,150,863 | €8,573 | -€1.1m | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,150,863 | €8,573 | -€1.1m | -99.3% |
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.