IMMO NEFRA: 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.
What changed
IMMO NEFRA
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€74,842
2024 · -€42,063-€32,778
Equity
€1.3m
2024 · €1.4m-€74,842
Cash
€2,562
2024 · €1,258+€1,304
Balance sheet total
€2.5m
2024 · €2.6m-€74,699
Largest movements
Assets
- Tangible fixed assets -€88,940
down €88,940 (-3.7%), from €2.4m to €2.3m
of which Land and buildings: -€87,376
Equity and liabilities
- Reserves -€51,641
down €51,641 (-4.6%), from €1.1m to €1.1m
- Other debts +€28,299
up €28,299 (+12.2%), from €231,637 to €259,936
- Debts after one year -€28,052
down €28,052 (-5.5%), from €510,128 to €482,076
Income statement
- Gross operating margin -€19,246
down €19,246 (-33.3%), from €57,872 to €38,626
- Financial charges +€14,494
up €14,494 (+57.5%), from €25,221 to €39,715
- Financial income +€1,061
up €1,061 (+34.5%), from €3,076 to €4,137
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.
Result 2024
-€42,063
Gross operating margin
-€19,246
Other operating charges
-€99
Financial income
+€1,061
Financial charges
-€14,494
Result 2025
-€74,842
raises the resultlowers the result
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.
From operations
+€28,815
Investment
€0
Financing
-€27,511
Cash 2024
€1,258
From operations (derived)
+€28,815
Net result for the year
-€74,842
Depreciation
+€88,940
Receivables within one year
-€13,801
Deferred charges and accrued income
+€864
Provisions
-€17,214
Trade debts
+€6,719
Tax, wage and social debts
+€2,378
Other debts
+€28,299
Accrued charges and deferred income
+€7,471
Financing
-€27,511
Debts after one year
-€28,052
Current portion of long-term debt
+€541
Cash 2025
€2,562
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,570,096 | €2,495,397 | -€74,699 | -2.9% |
| Fixed assets | 21/28 | €2,420,972 | €2,332,032 | -€88,940 | -3.7% |
| Tangible fixed assets | 22/27 | €2,420,272 | €2,331,332 | -€88,940 | -3.7% |
| Land and buildings | 22 | €2,402,358 | €2,314,982 | -€87,376 | -3.6% |
| Other tangible fixed assets | 26 | €17,914 | €16,349 | -€1,565 | -8.7% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €149,124 | €163,366 | +€14,241 | +9.5% |
| Amounts receivable within one year | 40/41 | €142,865 | €156,666 | +€13,801 | +9.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €142,865 | €156,666 | +€13,801 | +9.7% |
| Cash at bank and in hand | 54/58 | €1,258 | €2,562 | +€1,304 | +104% |
| Deferred charges and accrued income | 490/1 | €5,001 | €4,137 | -€864 | -17.3% |
| Total equity and liabilities | 10/49 | €2,570,096 | €2,495,397 | -€74,699 | -2.9% |
| Equity | 10/15 | €1,375,175 | €1,300,333 | -€74,842 | -5.4% |
| Contributions | 10/11 | €275,896 | €275,896 | = | 0.0% |
| Reserves | 13 | €1,133,329 | €1,081,688 | -€51,641 | -4.6% |
| Tax-exempt reserves | 132 | €1,133,329 | €1,081,688 | -€51,641 | -4.6% |
| Profit (loss) carried forward | 14 | -€34,050 | -€57,251 | -€23,201 | -68.1% |
| Provisions and deferred taxes | 16 | €377,776 | €360,563 | -€17,214 | -4.6% |
| Deferred taxes | 168 | €377,776 | €360,563 | -€17,214 | -4.6% |
| Amounts payable | 17/49 | €817,145 | €834,502 | +€17,356 | +2.1% |
| Amounts payable after more than one year | 17 | €510,128 | €482,076 | -€28,052 | -5.5% |
| Financial debts | 170/4 | €510,128 | €482,076 | -€28,052 | -5.5% |
| Amounts payable within one year | 42/48 | €262,720 | €300,658 | +€37,938 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €27,511 | €28,052 | +€541 | +2.0% |
| Trade debts | 44 | €2,388 | €9,108 | +€6,719 | +281% |
| Suppliers | 440/4 | €2,388 | €9,108 | +€6,719 | +281% |
| Taxes, remuneration and social security | 45 | €1,184 | €3,562 | +€2,378 | +201% |
| Taxes | 450/3 | €1,184 | €3,562 | +€2,378 | +201% |
| Other amounts payable | 47/48 | €231,637 | €259,936 | +€28,299 | +12.2% |
| Accrued charges and deferred income | 492/3 | €44,296 | €51,767 | +€7,471 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,940 | €88,940 | = | 0.0% |
| Other operating charges | 640/8 | €6,064 | €6,163 | +€99 | +1.6% |
| Gross operating margin | 9900 | €57,872 | €38,626 | -€19,246 | -33.3% |
| Operating profit (loss) | 9901 | -€37,132 | -€56,478 | -€19,345 | -52.1% |
| Financial income | 75/76B | €3,076 | €4,137 | +€1,061 | +34.5% |
| Recurring financial income | 75 | €3,076 | €4,137 | +€1,061 | +34.5% |
| Financial charges | 65/66B | €25,221 | €39,715 | +€14,494 | +57.5% |
| Recurring financial charges | 65 | €25,221 | €39,715 | +€14,494 | +57.5% |
| Profit (loss) for the period before taxes | 9903 | -€59,277 | -€92,055 | -€32,778 | -55.3% |
| Transfer from deferred taxes | 780 | €17,214 | €17,214 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€42,063 | -€74,842 | -€32,778 | -77.9% |
| Transfer from tax-exempt reserves | 789 | €51,641 | €51,641 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,578 | -€23,201 | -€32,778 |
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.