IMMO NEDERLO: 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 NEDERLO
Largest movements
- Receivables after one year -€74,016
down €74,016 (-54.7%), from €135,247 to €61,231
- Receivables within one year -€67,834
down €67,834 (-100.0%), from €67,843 to €9
of which Other amounts receivable: -€67,834
- Tangible fixed assets -€46,159
down €46,159 (-2.8%), from €1.7m to €1.6m
of which Land and buildings: -€39,709
- Debts after one year -€128,977
down €128,977 (-10.6%), from €1.2m to €1.1m
- Reserves -€60,952
down €60,952 (-13.6%), from €446,817 to €385,865
of which Distributable reserves: -€58,880
- Other operating charges -€60,423
down €60,423 (-84.5%), from €71,521 to €11,098
- Gross operating margin +€22,345
up €22,345 (+13.6%), from €164,046 to €186,391
- Taxes +€19,558
up €19,558 (+691%), from €2,831 to €22,389
- Financial charges +€17,184
up €17,184 (+51.7%), from €33,260 to €50,445
- Depreciation +€9,815
up €9,815 (+18.6%), from €52,651 to €62,466
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 | €1,866,232 | €1,678,233 | -€188,000 | -10.1% |
| Fixed assets | 21/28 | €1,659,440 | €1,613,281 | -€46,159 | -2.8% |
| Tangible fixed assets | 22/27 | €1,659,440 | €1,613,281 | -€46,159 | -2.8% |
| Land and buildings | 22 | €1,604,729 | €1,565,020 | -€39,709 | -2.5% |
| Plant, machinery and equipment | 23 | €54,711 | €46,898 | -€7,813 | -14.3% |
| Furniture and vehicles | 24 | - | €1,363 | +€1,363 | |
| Current assets | 29/58 | €206,793 | €64,952 | -€141,841 | -68.6% |
| Amounts receivable after more than one year | 29 | €135,247 | €61,231 | -€74,016 | -54.7% |
| Other amounts receivable | 291 | €135,247 | €61,231 | -€74,016 | -54.7% |
| Amounts receivable within one year | 40/41 | €67,843 | €9 | -€67,834 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €67,843 | €9 | -€67,834 | -100.0% |
| Cash at bank and in hand | 54/58 | €3,702 | €3,091 | -€611 | -16.5% |
| Deferred charges and accrued income | 490/1 | - | €620 | +€620 | |
| Total equity and liabilities | 10/49 | €1,866,232 | €1,678,233 | -€188,000 | -10.1% |
| Equity | 10/15 | €465,417 | €404,465 | -€60,952 | -13.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €446,817 | €385,865 | -€60,952 | -13.6% |
| Tax-exempt reserves | 132 | €34,194 | €32,122 | -€2,073 | -6.1% |
| Distributable reserves | 133 | €412,622 | €353,743 | -€58,880 | -14.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €13,967 | €13,120 | -€847 | -6.1% |
| Deferred taxes | 168 | €13,967 | €13,120 | -€847 | -6.1% |
| Amounts payable | 17/49 | €1,386,849 | €1,260,648 | -€126,201 | -9.1% |
| Amounts payable after more than one year | 17 | €1,211,951 | €1,082,974 | -€128,977 | -10.6% |
| Financial debts | 170/4 | €1,211,951 | €1,082,974 | -€128,977 | -10.6% |
| Amounts payable within one year | 42/48 | €174,897 | €174,725 | -€173 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €126,063 | €127,382 | +€1,319 | +1.0% |
| Financial debts | 43 | €27,628 | €22,990 | -€4,638 | -16.8% |
| Credit institutions | 430/8 | €27,628 | €22,990 | -€4,638 | -16.8% |
| Trade debts | 44 | €1,086 | €992 | -€94 | -8.6% |
| Suppliers | 440/4 | €1,086 | €992 | -€94 | -8.6% |
| Taxes, remuneration and social security | 45 | €18,121 | €6,282 | -€11,839 | -65.3% |
| Taxes | 450/3 | €18,121 | €6,282 | -€11,839 | -65.3% |
| Other amounts payable | 47/48 | €2,000 | €17,079 | +€15,079 | +754% |
| Accrued charges and deferred income | 492/3 | - | €2,949 | +€2,949 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,651 | €62,466 | +€9,815 | +18.6% |
| Other operating charges | 640/8 | €71,521 | €11,098 | -€60,423 | -84.5% |
| Gross operating margin | 9900 | €164,046 | €186,391 | +€22,345 | +13.6% |
| Operating profit (loss) | 9901 | €39,875 | €112,827 | +€72,953 | +183% |
| Financial income | 75/76B | - | €3,364 | +€3,364 | |
| Recurring financial income | 75 | - | €3,364 | +€3,364 | |
| Financial charges | 65/66B | €33,260 | €50,445 | +€17,184 | +51.7% |
| Recurring financial charges | 65 | €33,260 | €50,445 | +€17,184 | +51.7% |
| Profit (loss) for the period before taxes | 9903 | €6,614 | €65,746 | +€59,132 | +894% |
| Transfer from deferred taxes | 780 | €847 | €847 | = | 0.0% |
| Income taxes | 67/77 | €2,831 | €22,389 | +€19,558 | +691% |
| Profit (loss) for the period | 9904 | €4,629 | €44,204 | +€39,574 | +855% |
| Transfer from tax-exempt reserves | 789 | €2,073 | €2,073 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,702 | €46,276 | +€39,574 | +590% |
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.