Immo Nysen: what changed
What changed
Immo Nysen
NACE 42.110, Construction of roads and motorways
filed annual accounts (NBB)
Net result for the year
€9,397
2025 · €19,101-€9,703
Equity
€634,987
2025 · €625,589+€9,397
Cash
€42,558
2025 · €59,075-€16,517
Balance sheet total
€2.3m
2025 · €1.4m+€954,831
Largest movements
Assets
- Tangible fixed assets +€958,867
up €958,867 (+73.2%), from €1.3m to €2.3m
of which Assets under construction and advance payments: +€968,489
Equity and liabilities
- Debts after one year +€917,898
up €917,898 (+127%), from €722,357 to €1.6m
Income statement
- Financial charges +€26,671
up €26,671 (+315%), from €8,477 to €35,148
- Depreciation -€23,519
down €23,519 (-71.0%), from €33,140 to €9,621
- Gross operating margin -€15,966
down €15,966 (-24.4%), from €65,301 to €49,335
- Financial income +€5,372
up €5,372 (+78.2%), from €6,868 to €12,240
- Taxes -€4,597
down €4,597 (-50.7%), from €9,062 to €4,465
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€19,101
Gross operating margin
-€15,966
Depreciation
+€23,519
Other operating charges
-€554
Financial income
+€5,372
Financial charges
-€26,671
Taxes
+€4,597
Result 2026
€9,397
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€10,884
Investment
-€967,964
Financing
+€940,563
Cash 2025
€59,075
From operations (derived)
+€10,884
Net result for the year
+€9,397
Depreciation
+€9,621
Receivables within one year
-€13,915
Smaller working-capital items
+€2,867
Other debts
+€2,913
Investment (derived)
-€967,964
Investment in fixed assets (net)
-€967,964
Financing
+€940,563
Debts after one year
+€917,898
Current portion of long-term debt
+€22,664
Cash 2026
€42,558
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,375,029 | €2,329,860 | +€954,831 | +69.4% |
| Fixed assets | 21/28 | €1,311,274 | €2,269,616 | +€958,342 | +73.1% |
| Tangible fixed assets | 22/27 | €1,310,749 | €2,269,616 | +€958,867 | +73.2% |
| Land and buildings | 22 | €745,000 | €745,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €9,675 | €2,679 | -€6,996 | -72.3% |
| Furniture and vehicles | 24 | €4,125 | €1,500 | -€2,625 | -63.6% |
| Assets under construction and advance payments | 27 | €551,949 | €1,520,437 | +€968,489 | +175% |
| Financial fixed assets | 28 | €525 | €0 | -€525 | -100% |
| Current assets | 29/58 | €63,756 | €60,244 | -€3,512 | -5.5% |
| Amounts receivable within one year | 40/41 | €0 | €13,915 | +€13,915 | |
| Trade receivables | 40 | €0 | €11,380 | +€11,380 | |
| Other amounts receivable | 41 | €0 | €2,535 | +€2,535 | |
| Cash at bank and in hand | 54/58 | €59,075 | €42,558 | -€16,517 | -28.0% |
| Deferred charges and accrued income | 490/1 | €4,681 | €3,771 | -€909 | -19.4% |
| Total equity and liabilities | 10/49 | €1,375,029 | €2,329,860 | +€954,831 | +69.4% |
| Equity | 10/15 | €625,589 | €634,987 | +€9,397 | +1.5% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €618,153 | €627,550 | +€9,397 | +1.5% |
| Tax-exempt reserves | 132 | €8,365 | €8,365 | = | 0.0% |
| Distributable reserves | 133 | €609,788 | €619,185 | +€9,397 | +1.5% |
| Amounts payable | 17/49 | €749,440 | €1,694,873 | +€945,433 | +126% |
| Amounts payable after more than one year | 17 | €722,357 | €1,640,255 | +€917,898 | +127% |
| Financial debts | 170/4 | €722,357 | €1,640,255 | +€917,898 | +127% |
| Amounts payable within one year | 42/48 | €27,083 | €54,618 | +€27,535 | +102% |
| Current portion of amounts payable after more than one year | 42 | - | €22,664 | +€22,664 | |
| Trade debts | 44 | €7,132 | €9,153 | +€2,021 | +28.3% |
| Suppliers | 440/4 | €7,132 | €9,153 | +€2,021 | +28.3% |
| Taxes, remuneration and social security | 45 | €508 | €444 | -€64 | -12.5% |
| Taxes | 450/3 | €508 | €444 | -€64 | -12.5% |
| Other amounts payable | 47/48 | €19,443 | €22,356 | +€2,913 | +15.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,140 | €9,621 | -€23,519 | -71.0% |
| Other operating charges | 640/8 | €2,389 | €2,943 | +€554 | +23.2% |
| Gross operating margin | 9900 | €65,301 | €49,335 | -€15,966 | -24.4% |
| Operating profit (loss) | 9901 | €29,772 | €36,770 | +€6,998 | +23.5% |
| Financial income | 75/76B | €6,868 | €12,240 | +€5,372 | +78.2% |
| Recurring financial income | 75 | €6,868 | €12,240 | +€5,372 | +78.2% |
| Financial charges | 65/66B | €8,477 | €35,148 | +€26,671 | +315% |
| Recurring financial charges | 65 | €8,477 | €35,148 | +€26,671 | +315% |
| Profit (loss) for the period before taxes | 9903 | €28,162 | €13,862 | -€14,300 | -50.8% |
| Income taxes | 67/77 | €9,062 | €4,465 | -€4,597 | -50.7% |
| Profit (loss) for the period | 9904 | €19,101 | €9,397 | -€9,703 | -50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €19,101 | €9,397 | -€9,703 | -50.8% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.