IMMO P & C: 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 P & C
NACE 47.721, Retail sale of footwear
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€315,378
2024 · €360,437-€45,059
Equity
€15.5m
2024 · €15.2m+€315,378
Cash
€192,764
2024 · €529,408-€336,644
Balance sheet total
€27.3m
2024 · €27.3m-€35,889
Largest movements
Assets
- Tangible fixed assets +€399,842
up €399,842 (+1.7%), from €23.4m to €23.8m
of which Land and buildings: +€6.2m
- Cash -€336,644
down €336,644 (-63.6%), from €529,408 to €192,764
mainly Investment in fixed assets (net) (-€1.2m) and Trade debts (-€446,980)
- Receivables after one year -€309,871
down €309,871 (-13.3%), from €2.3m to €2.0m
Equity and liabilities
- Trade debts -€446,980
down €446,980 (-97.9%), from €456,640 to €9,660
- Profit (loss) carried forward +€312,456
up €312,456 (+11.7%), from €2.7m to €3.0m
Income statement
- Depreciation +€83,125
up €83,125 (+12.2%), from €682,248 to €765,373
- Gross operating margin +€63,982
up €63,982 (+3.8%), from €1.7m to €1.7m
- Financial income -€18,672
down €18,672 (-32.7%), from €57,155 to €38,483
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
€360,437
Gross operating margin
+€63,982
Staff costs
-€9,646
Depreciation
-€83,125
Other operating charges
-€6,328
Financial income
-€18,672
Financial charges
-€3,818
Taxes
+€12,547
Result 2025
€315,378
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
+€841,162
Investment
-€1.2m
Financing
-€12,591
Cash 2024
€529,408
From operations (derived)
+€841,162
Net result for the year
+€315,378
Depreciation
+€765,373
Receivables after one year
+€309,871
Receivables within one year
-€212,965
Deferred charges and accrued income
+€2,182
Provisions
-€4,526
Trade debts
-€446,980
Tax, wage and social debts
+€11,607
Other debts
+€80,325
Accrued charges and deferred income
+€20,899
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Financing
-€12,591
Debts after one year
-€19,416
Current portion of long-term debt
+€6,825
Cash 2025
€192,764
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,298,629 | €27,262,740 | -€35,889 | -0.1% |
| Fixed assets | 21/28 | €24,025,352 | €24,425,194 | +€399,842 | +1.7% |
| Tangible fixed assets | 22/27 | €23,419,664 | €23,819,506 | +€399,842 | +1.7% |
| Land and buildings | 22 | €16,460,583 | €22,685,836 | +€6.2m | +37.8% |
| Plant, machinery and equipment | 23 | €62,096 | €51,647 | -€10,450 | -16.8% |
| Furniture and vehicles | 24 | €28,969 | €20,610 | -€8,359 | -28.9% |
| Assets under construction and advance payments | 27 | €6,868,015 | €1,061,412 | -€5.8m | -84.5% |
| Financial fixed assets | 28 | €605,688 | €605,688 | = | 0.0% |
| Current assets | 29/58 | €3,273,278 | €2,837,547 | -€435,731 | -13.3% |
| Amounts receivable after more than one year | 29 | €2,326,891 | €2,017,020 | -€309,871 | -13.3% |
| Other amounts receivable | 291 | €2,326,891 | €2,017,020 | -€309,871 | -13.3% |
| Amounts receivable within one year | 40/41 | €390,406 | €603,371 | +€212,965 | +54.5% |
| Trade receivables | 40 | €85,146 | €281,165 | +€196,020 | +230.2% |
| Other amounts receivable | 41 | €305,260 | €322,206 | +€16,946 | +5.6% |
| Cash at bank and in hand | 54/58 | €529,408 | €192,764 | -€336,644 | -63.6% |
| Deferred charges and accrued income | 490/1 | €26,573 | €24,392 | -€2,182 | -8.2% |
| Total equity and liabilities | 10/49 | €27,298,629 | €27,262,740 | -€35,889 | -0.1% |
| Equity | 10/15 | €15,226,720 | €15,542,097 | +€315,378 | +2.1% |
| Contributions | 10/11 | €10,000,000 | €10,000,000 | = | 0.0% |
| Capital | 10 | €10,000,000 | €10,000,000 | = | 0.0% |
| Issued capital | 100 | €10,000,000 | €10,000,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,750,000 | €1,750,000 | = | 0.0% |
| Reserves | 13 | €812,418 | €815,339 | +€2,921 | +0.4% |
| Non-distributable reserves | 130/1 | €456,700 | €473,200 | +€16,500 | +3.6% |
| Legal reserve | 130 | €456,700 | €473,200 | +€16,500 | +3.6% |
| Tax-exempt reserves | 132 | €355,718 | €342,139 | -€13,579 | -3.8% |
| Profit (loss) carried forward | 14 | €2,664,302 | €2,976,758 | +€312,456 | +11.7% |
| Provisions and deferred taxes | 16 | €118,284 | €113,758 | -€4,526 | -3.8% |
| Deferred taxes | 168 | €118,284 | €113,758 | -€4,526 | -3.8% |
| Amounts payable | 17/49 | €11,953,626 | €11,606,885 | -€346,740 | -2.9% |
| Amounts payable after more than one year | 17 | €10,480,332 | €10,460,915 | -€19,416 | -0.2% |
| Financial debts | 170/4 | €10,480,332 | €10,460,915 | -€19,416 | -0.2% |
| Amounts payable within one year | 42/48 | €1,358,293 | €1,010,070 | -€348,223 | -25.6% |
| Current portion of amounts payable after more than one year | 42 | €592,591 | €599,416 | +€6,825 | +1.2% |
| Trade debts | 44 | €456,640 | €9,660 | -€446,980 | -97.9% |
| Suppliers | 440/4 | €456,640 | €9,660 | -€446,980 | -97.9% |
| Taxes, remuneration and social security | 45 | €20,703 | €32,310 | +€11,607 | +56.1% |
| Taxes | 450/3 | €11,706 | €22,245 | +€10,539 | +90.0% |
| Remuneration and social security | 454/9 | €8,997 | €10,065 | +€1,068 | +11.9% |
| Other amounts payable | 47/48 | €288,359 | €368,684 | +€80,325 | +27.9% |
| Accrued charges and deferred income | 492/3 | €115,001 | €135,900 | +€20,899 | +18.2% |
| Remuneration, social security and pensions | 62 | €160,069 | €169,714 | +€9,646 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €682,248 | €765,373 | +€83,125 | +12.2% |
| Other operating charges | 640/8 | €220,897 | €227,225 | +€6,328 | +2.9% |
| Gross operating margin | 9900 | €1,662,320 | €1,726,302 | +€63,982 | +3.8% |
| Operating profit (loss) | 9901 | €599,106 | €563,989 | -€35,117 | -5.9% |
| Financial income | 75/76B | €57,155 | €38,483 | -€18,672 | -32.7% |
| Recurring financial income | 75 | €57,155 | €38,483 | -€18,672 | -32.7% |
| Financial charges | 65/66B | €174,921 | €178,739 | +€3,818 | +2.2% |
| Recurring financial charges | 65 | €174,921 | €166,037 | -€8,884 | -5.1% |
| Non-recurring financial charges | 66B | - | €12,702 | +€12,702 | |
| Profit (loss) for the period before taxes | 9903 | €481,339 | €423,733 | -€57,607 | -12.0% |
| Transfer from deferred taxes | 780 | €4,526 | €4,526 | = | 0.0% |
| Income taxes | 67/77 | €125,429 | €112,881 | -€12,547 | -10.0% |
| Profit (loss) for the period | 9904 | €360,437 | €315,378 | -€45,059 | -12.5% |
| Transfer from tax-exempt reserves | 789 | €13,579 | €13,579 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €374,015 | €328,956 | -€45,059 | -12.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.