IMMO NEMO: 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.
What changed
IMMO NEMO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€19,938
2024 · €12,879+€7,059
Equity
€415,215
2024 · €444,799-€29,584
Cash
€31,878
2024 · €20,362+€11,516
Balance sheet total
€1.8m
2024 · €1.9m-€95,838
Largest movements
Assets
- Tangible fixed assets -€100,403
down €100,403 (-5.4%), from €1.8m to €1.7m
of which Land and buildings: -€91,672
Equity and liabilities
- Debts after one year -€107,770
down €107,770 (-12.3%), from €875,366 to €767,596
- Profit (loss) carried forward -€27,090
down €27,090 (-90.2%), from €30,026 to €2,936
- Current portion of long-term debt +€26,795
up €26,795 (+50.0%), from €53,621 to €80,416
- Tax, wage and social debts +€24,289
up €24,289 (+148.7%), from €16,335 to €40,624
Income statement
- Financial charges -€14,908
down €14,908 (-22.9%), from €65,026 to €50,118
of which Financial charges: -€13,291
- Taxes +€14,374
up €14,374 (+393.3%), from €3,655 to €18,029
- Gross operating margin +€12,182
up €12,182 (+5.9%), from €206,665 to €218,847
- Other operating charges +€4,981
up €4,981 (+50.8%), from €9,811 to €14,792
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
€12,879
Gross operating margin
+€12,182
Depreciation
-€671
Other operating charges
-€4,981
Financial income
-€5
Financial charges
+€14,908
Taxes
-€14,374
Result 2025
€19,938
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.
From operations
+€178,635
Investment
-€36,622
Financing
-€130,497
Cash 2024
€20,362
From operations (derived)
+€178,635
Net result for the year
+€19,938
Depreciation
+€137,025
Receivables within one year
+€6,245
Deferred charges and accrued income
+€706
Provisions
-€9,248
Trade debts
-€11,174
Tax, wage and social debts
+€24,289
Other debts
+€10,854
Investment (derived)
-€36,622
Investment in fixed assets (net)
-€36,622
Financing
-€130,497
Debts after one year
-€107,770
Current portion of long-term debt
+€26,795
Contributions, distributions and other
-€49,522
Cash 2025
€31,878
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,880,076 | €1,784,238 | -€95,838 | -5.1% |
| Fixed assets | 21/28 | €1,845,025 | €1,744,622 | -€100,403 | -5.4% |
| Tangible fixed assets | 22/27 | €1,845,025 | €1,744,622 | -€100,403 | -5.4% |
| Land and buildings | 22 | €1,813,488 | €1,721,816 | -€91,672 | -5.1% |
| Plant, machinery and equipment | 23 | - | €1,649 | +€1,649 | |
| Furniture and vehicles | 24 | €28,937 | €18,557 | -€10,380 | -35.9% |
| Other tangible fixed assets | 26 | €2,600 | €2,600 | = | 0.0% |
| Current assets | 29/58 | €35,051 | €39,616 | +€4,565 | +13.0% |
| Amounts receivable within one year | 40/41 | €11,490 | €5,245 | -€6,245 | -54.4% |
| Trade receivables | 40 | €10,846 | €5,245 | -€5,601 | -51.6% |
| Other amounts receivable | 41 | €644 | - | -€644 | |
| Cash at bank and in hand | 54/58 | €20,362 | €31,878 | +€11,516 | +56.6% |
| Deferred charges and accrued income | 490/1 | €3,199 | €2,493 | -€706 | -22.1% |
| Total equity and liabilities | 10/49 | €1,880,076 | €1,784,238 | -€95,838 | -5.1% |
| Equity | 10/15 | €444,799 | €415,215 | -€29,584 | -6.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €339,891 | €349,204 | +€9,313 | +2.7% |
| Tax-exempt reserves | 132 | €338,032 | €320,072 | -€17,960 | -5.3% |
| Distributable reserves | 133 | €1,859 | €29,132 | +€27,273 | +1467.1% |
| Profit (loss) carried forward | 14 | €30,026 | €2,936 | -€27,090 | -90.2% |
| Investment grants | 15 | €56,290 | €44,483 | -€11,807 | -21.0% |
| Provisions and deferred taxes | 16 | €164,405 | €155,157 | -€9,248 | -5.6% |
| Deferred taxes | 168 | €164,405 | €155,157 | -€9,248 | -5.6% |
| Amounts payable | 17/49 | €1,270,872 | €1,213,866 | -€57,006 | -4.5% |
| Amounts payable after more than one year | 17 | €875,366 | €767,596 | -€107,770 | -12.3% |
| Financial debts | 170/4 | €875,366 | €767,596 | -€107,770 | -12.3% |
| Amounts payable within one year | 42/48 | €395,506 | €446,270 | +€50,764 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €53,621 | €80,416 | +€26,795 | +50.0% |
| Trade debts | 44 | €13,047 | €1,873 | -€11,174 | -85.6% |
| Suppliers | 440/4 | €13,047 | €1,873 | -€11,174 | -85.6% |
| Taxes, remuneration and social security | 45 | €16,335 | €40,624 | +€24,289 | +148.7% |
| Taxes | 450/3 | €16,335 | €40,624 | +€24,289 | +148.7% |
| Other amounts payable | 47/48 | €312,503 | €323,357 | +€10,854 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,354 | €137,025 | +€671 | +0.5% |
| Other operating charges | 640/8 | €9,811 | €14,792 | +€4,981 | +50.8% |
| Gross operating margin | 9900 | €206,665 | €218,847 | +€12,182 | +5.9% |
| Operating profit (loss) | 9901 | €60,500 | €67,030 | +€6,530 | +10.8% |
| Financial income | 75/76B | €11,812 | €11,807 | -€5 | 0.0% |
| Recurring financial income | 75 | €11,812 | €11,807 | -€5 | 0.0% |
| Financial charges | 65/66B | €65,026 | €50,118 | -€14,908 | -22.9% |
| Recurring financial charges | 65 | €63,409 | €50,118 | -€13,291 | -21.0% |
| Non-recurring financial charges | 66B | €1,617 | - | -€1,617 | |
| Profit (loss) for the period before taxes | 9903 | €7,286 | €28,719 | +€21,433 | +294.2% |
| Transfer from deferred taxes | 780 | €9,248 | €9,248 | = | 0.0% |
| Income taxes | 67/77 | €3,655 | €18,029 | +€14,374 | +393.3% |
| Profit (loss) for the period | 9904 | €12,879 | €19,938 | +€7,059 | +54.8% |
| Transfer from tax-exempt reserves | 789 | €17,961 | €17,960 | -€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,840 | €37,898 | +€7,058 | +22.9% |
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 30 September 2026 via checked.be.