IMMO OLIVIER SCHEPENS: 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 OLIVIER SCHEPENS
Largest movements
- Cash +€185,850
up €185,850 (+156%), from €119,405 to €305,255
mainly Other debts (+€205,555) and Depreciation (+€55,496)
- Tangible fixed assets -€49,198
down €49,198 (-6.3%), from €776,625 to €727,427
of which Land and buildings: -€27,411
- Receivables within one year +€19,929
up €19,929 (+48.9%), from €40,715 to €60,645
of which Trade receivables: +€19,610
- Other debts +€205,555
up €205,555 (+92.9%), from €221,261 to €426,815
- Debts after one year -€74,878
down €74,878 (-17.5%), from €427,086 to €352,208
of which Financial debts: -€74,878
- Reserves +€21,887
up €21,887 (+15.8%), from €138,673 to €160,560
- Trade debts +€11,964
up €11,964 (+67.7%), from €17,660 to €29,625
- Gross operating margin -€54,324
down €54,324 (-26.3%), from €206,586 to €152,262
- Staff costs -€34,187
down €34,187 (-45.8%), from €74,627 to €40,440
- Depreciation -€6,821
down €6,821 (-10.9%), from €62,317 to €55,496
- Taxes -€3,417
down €3,417 (-22.4%), from €15,220 to €11,803
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €941,782 | €1,100,435 | +€158,652 | +16.8% |
| Fixed assets | 21/28 | €780,104 | €728,766 | -€51,338 | -6.6% |
| Intangible fixed assets | 21 | €3,478 | €1,338 | -€2,140 | -61.5% |
| Tangible fixed assets | 22/27 | €776,625 | €727,427 | -€49,198 | -6.3% |
| Land and buildings | 22 | €711,326 | €683,915 | -€27,411 | -3.9% |
| Plant, machinery and equipment | 23 | €3,492 | €5,791 | +€2,300 | +65.9% |
| Furniture and vehicles | 24 | €61,808 | €37,721 | -€24,087 | -39.0% |
| Current assets | 29/58 | €161,679 | €371,669 | +€209,990 | +130% |
| Amounts receivable within one year | 40/41 | €40,715 | €60,645 | +€19,929 | +48.9% |
| Trade receivables | 40 | €30,483 | €50,093 | +€19,610 | +64.3% |
| Other amounts receivable | 41 | €10,233 | €10,552 | +€319 | +3.1% |
| Cash at bank and in hand | 54/58 | €119,405 | €305,255 | +€185,850 | +156% |
| Deferred charges and accrued income | 490/1 | €1,558 | €5,769 | +€4,210 | +270% |
| Total equity and liabilities | 10/49 | €941,782 | €1,100,435 | +€158,652 | +16.8% |
| Equity | 10/15 | €157,273 | €179,160 | +€21,887 | +13.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €138,673 | €160,560 | +€21,887 | +15.8% |
| Distributable reserves | 133 | €138,673 | €160,560 | +€21,887 | +15.8% |
| Amounts payable | 17/49 | €784,510 | €921,275 | +€136,765 | +17.4% |
| Amounts payable after more than one year | 17 | €427,086 | €352,208 | -€74,878 | -17.5% |
| Financial debts | 170/4 | €426,831 | €351,953 | -€74,878 | -17.5% |
| Other amounts payable | 178/9 | €255 | €255 | = | 0.0% |
| Amounts payable within one year | 42/48 | €357,423 | €569,067 | +€211,643 | +59.2% |
| Current portion of amounts payable after more than one year | 42 | €73,140 | €74,878 | +€1,738 | +2.4% |
| Financial debts | 43 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Credit institutions | 430/8 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Trade debts | 44 | €17,660 | €29,625 | +€11,964 | +67.7% |
| Suppliers | 440/4 | €17,660 | €29,625 | +€11,964 | +67.7% |
| Taxes, remuneration and social security | 45 | €25,362 | €27,748 | +€2,386 | +9.4% |
| Taxes | 450/3 | €20,527 | €24,896 | +€4,369 | +21.3% |
| Remuneration and social security | 454/9 | €4,835 | €2,852 | -€1,983 | -41.0% |
| Other amounts payable | 47/48 | €221,261 | €426,815 | +€205,555 | +92.9% |
| Remuneration, social security and pensions | 62 | €74,627 | €40,440 | -€34,187 | -45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,317 | €55,496 | -€6,821 | -10.9% |
| Other operating charges | 640/8 | €12,300 | €12,371 | +€71 | +0.6% |
| Gross operating margin | 9900 | €206,586 | €152,262 | -€54,324 | -26.3% |
| Operating profit (loss) | 9901 | €57,342 | €43,955 | -€13,387 | -23.3% |
| Financial income | 75/76B | €472 | €120 | -€352 | -74.5% |
| Recurring financial income | 75 | €472 | €120 | -€352 | -74.5% |
| Financial charges | 65/66B | €12,112 | €10,385 | -€1,727 | -14.3% |
| Recurring financial charges | 65 | €12,112 | €10,385 | -€1,727 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €45,702 | €33,691 | -€12,012 | -26.3% |
| Income taxes | 67/77 | €15,220 | €11,803 | -€3,417 | -22.4% |
| Profit (loss) for the period | 9904 | €30,482 | €21,887 | -€8,595 | -28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,482 | €21,887 | -€8,595 | -28.2% |
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 27 October 2026 via checked.be.