IMMO NICOLAS: 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 NICOLAS
Largest movements
- Tangible fixed assets -€43,141
down €43,141 (-2.9%), from €1.5m to €1.5m
of which Land and buildings: -€43,516
- Receivables within one year +€31,350
up €31,350 (+37.9%), from €82,815 to €114,165
- Debts after one year -€39,586
down €39,586 (-3.7%), from €1.1m to €1.0m
- Reserves +€33,680
up €33,680 (+20.1%), from €167,528 to €201,208
of which Tax-exempt reserves: +€33,680
- Profit (loss) carried forward +€25,759
up €25,759 (+30.1%), from €85,628 to €111,388
- Other debts -€24,105
down €24,105 (-12.1%), from €200,000 to €175,895
- Depreciation -€134,785
down €134,785 (-75.5%), from €178,533 to €43,748
- Gross operating margin +€99,661
up €99,661 (+149.6%), from €66,620 to €166,281
- Financial charges +€43,961
up €43,961 (+2251.7%), from €1,952 to €45,913
- Taxes +€7,059
new in 2025: €7,059
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 | €1,617,978 | €1,618,037 | +€59 | 0.0% |
| Fixed assets | 21/28 | €1,498,415 | €1,455,274 | -€43,141 | -2.9% |
| Tangible fixed assets | 22/27 | €1,498,415 | €1,455,274 | -€43,141 | -2.9% |
| Land and buildings | 22 | €1,497,936 | €1,454,421 | -€43,516 | -2.9% |
| Plant, machinery and equipment | 23 | €479 | €441 | -€37 | -7.8% |
| Furniture and vehicles | 24 | - | €412 | +€412 | |
| Current assets | 29/58 | €119,563 | €162,763 | +€43,200 | +36.1% |
| Amounts receivable within one year | 40/41 | €82,815 | €114,165 | +€31,350 | +37.9% |
| Other amounts receivable | 41 | €82,815 | €114,165 | +€31,350 | +37.9% |
| Cash at bank and in hand | 54/58 | €31,953 | €41,624 | +€9,672 | +30.3% |
| Deferred charges and accrued income | 490/1 | €4,795 | €6,973 | +€2,179 | +45.4% |
| Total equity and liabilities | 10/49 | €1,617,978 | €1,618,037 | +€59 | 0.0% |
| Equity | 10/15 | €315,130 | €374,569 | +€59,439 | +18.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €167,528 | €201,208 | +€33,680 | +20.1% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €33,680 | +€33,680 | |
| Distributable reserves | 133 | €161,331 | €161,331 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,628 | €111,388 | +€25,759 | +30.1% |
| Amounts payable | 17/49 | €1,302,848 | €1,243,468 | -€59,380 | -4.6% |
| Amounts payable after more than one year | 17 | €1,061,820 | €1,022,234 | -€39,586 | -3.7% |
| Financial debts | 170/4 | €1,061,820 | €1,022,234 | -€39,586 | -3.7% |
| Amounts payable within one year | 42/48 | €240,744 | €218,715 | -€22,029 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €38,180 | €42,820 | +€4,640 | +12.2% |
| Trade debts | 44 | €2,564 | - | -€2,564 | |
| Suppliers | 440/4 | €2,564 | - | -€2,564 | |
| Other amounts payable | 47/48 | €200,000 | €175,895 | -€24,105 | -12.1% |
| Accrued charges and deferred income | 492/3 | €284 | €2,518 | +€2,234 | +786.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €178,533 | €43,748 | -€134,785 | -75.5% |
| Other operating charges | 640/8 | €11,371 | €11,829 | +€458 | +4.0% |
| Gross operating margin | 9900 | €66,620 | €166,281 | +€99,661 | +149.6% |
| Operating profit (loss) | 9901 | -€123,284 | €110,704 | +€233,988 | |
| Financial income | 75/76B | €1,002 | €1,708 | +€705 | +70.3% |
| Recurring financial income | 75 | €1,002 | €1,708 | +€705 | +70.3% |
| Financial charges | 65/66B | €1,952 | €45,913 | +€43,961 | +2251.7% |
| Recurring financial charges | 65 | €1,952 | €45,913 | +€43,961 | +2251.7% |
| Profit (loss) for the period before taxes | 9903 | -€124,234 | €66,499 | +€190,733 | |
| Income taxes | 67/77 | - | €7,059 | +€7,059 | |
| Profit (loss) for the period | 9904 | -€124,234 | €59,439 | +€183,674 | |
| Transfer to tax-exempt reserves | 689 | - | €33,680 | +€33,680 | |
| Profit (loss) for the period to be appropriated | 9905 | -€124,234 | €25,759 | +€149,994 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.