IMMO NOYEN: 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 NOYEN
Largest movements
- Receivables within one year -€36,186
down €36,186 (-35.8%), from €101,024 to €64,839
- Cash -€26,715
down €26,715 (-51.5%), from €51,906 to €25,191
mainly Debts after one year (-€66,748) and Contributions, distributions and other (-€48,529)
- Current investments +€10,000
up €10,000 (+25.0%), from €40,000 to €50,000
- Debts after one year -€66,748
down €66,748 (-17.9%), from €373,262 to €306,514
of which Financial debts: -€66,748
- Reserves +€45,833
up €45,833 (+17.7%), from €258,563 to €304,396
of which Non-distributable reserves: +€45,833
- Other debts -€38,510
down €38,510 (-44.2%), from €87,039 to €48,529
- Depreciation -€105,438
down €105,438 (-93.1%), from €113,302 to €7,865
- Taxes +€24,156
up €24,156 (+182.8%), from €13,213 to €37,369
- Gross operating margin -€19,135
down €19,135 (-10.4%), from €184,032 to €164,897
- Financial income -€3,248
down €3,248 (-51.1%), from €6,360 to €3,112
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 | €869,054 | €807,283 | -€61,772 | -7.1% |
| Fixed assets | 21/28 | €662,473 | €654,608 | -€7,865 | -1.2% |
| Tangible fixed assets | 22/27 | €662,473 | €654,608 | -€7,865 | -1.2% |
| Land and buildings | 22 | €662,208 | €654,431 | -€7,777 | -1.2% |
| Furniture and vehicles | 24 | €265 | €177 | -€88 | -33.3% |
| Current assets | 29/58 | €206,582 | €152,675 | -€53,907 | -26.1% |
| Amounts receivable within one year | 40/41 | €101,024 | €64,839 | -€36,186 | -35.8% |
| Other amounts receivable | 41 | €101,024 | €64,839 | -€36,186 | -35.8% |
| Current investments | 50/53 | €40,000 | €50,000 | +€10,000 | +25.0% |
| Cash at bank and in hand | 54/58 | €51,906 | €25,191 | -€26,715 | -51.5% |
| Deferred charges and accrued income | 490/1 | €13,652 | €12,646 | -€1,006 | -7.4% |
| Total equity and liabilities | 10/49 | €869,054 | €807,283 | -€61,772 | -7.1% |
| Equity | 10/15 | €321,163 | €366,996 | +€45,833 | +14.3% |
| Contributions | 10/11 | €62,600 | €62,600 | = | 0.0% |
| Reserves | 13 | €258,563 | €304,396 | +€45,833 | +17.7% |
| Non-distributable reserves | 130/1 | €241,398 | €287,231 | +€45,833 | +19.0% |
| Other | 1319 | €241,398 | €287,231 | +€45,833 | +19.0% |
| Distributable reserves | 133 | €17,164 | €17,164 | = | 0.0% |
| Amounts payable | 17/49 | €547,891 | €440,287 | -€107,604 | -19.6% |
| Amounts payable after more than one year | 17 | €373,262 | €306,514 | -€66,748 | -17.9% |
| Financial debts | 170/4 | €283,262 | €216,514 | -€66,748 | -23.6% |
| Other amounts payable | 178/9 | €90,000 | €90,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €166,896 | €126,793 | -€40,102 | -24.0% |
| Current portion of amounts payable after more than one year | 42 | €65,601 | €66,748 | +€1,147 | +1.7% |
| Trade debts | 44 | €5,923 | €5,572 | -€351 | -5.9% |
| Suppliers | 440/4 | €5,923 | €5,572 | -€351 | -5.9% |
| Taxes, remuneration and social security | 45 | €8,332 | €5,944 | -€2,388 | -28.7% |
| Taxes | 450/3 | €8,332 | €5,944 | -€2,388 | -28.7% |
| Other amounts payable | 47/48 | €87,039 | €48,529 | -€38,510 | -44.2% |
| Accrued charges and deferred income | 492/3 | €7,734 | €6,980 | -€754 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,302 | €7,865 | -€105,438 | -93.1% |
| Other operating charges | 640/8 | €21,728 | €22,406 | +€679 | +3.1% |
| Gross operating margin | 9900 | €184,032 | €164,897 | -€19,135 | -10.4% |
| Operating profit (loss) | 9901 | €49,002 | €134,626 | +€85,624 | +174.7% |
| Financial income | 75/76B | €6,360 | €3,112 | -€3,248 | -51.1% |
| Recurring financial income | 75 | €6,360 | €3,112 | -€3,248 | -51.1% |
| Financial charges | 65/66B | €7,141 | €6,008 | -€1,133 | -15.9% |
| Recurring financial charges | 65 | €7,141 | €6,008 | -€1,133 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €48,221 | €131,731 | +€83,510 | +173.2% |
| Transfer from deferred taxes | 780 | €1,158 | - | -€1,158 | |
| Income taxes | 67/77 | €13,213 | €37,369 | +€24,156 | +182.8% |
| Profit (loss) for the period | 9904 | €36,166 | €94,362 | +€58,195 | +160.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,166 | €94,362 | +€58,195 | +160.9% |
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 10 October 2026 via checked.be.