Immo P&S: 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 P&S
Largest movements
- Tangible fixed assets -€28,630
down €28,630 (-5.6%), from €509,257 to €480,627
of which Leasing and similar rights: -€41,042
- Receivables within one year -€22,787
down €22,787 (-99.5%), from €22,900 to €113
of which Other amounts receivable: -€22,245
- Cash +€6,700
up €6,700 (+30.6%), from €21,900 to €28,600
mainly Depreciation (+€43,316) and Receivables within one year (+€22,787)
- Debts after one year -€51,006
down €51,006 (-15.8%), from €322,360 to €271,354
- Reserves +€17,032
up €17,032 (+113%), from €15,071 to €32,103
of which Distributable reserves: +€17,032
- Current portion of long-term debt -€16,271
down €16,271 (-18.0%), from €90,477 to €74,206
- Other debts +€8,000
up €8,000 (+7.9%), from €101,630 to €109,630
- Gross operating margin -€8,060
down €8,060 (-9.2%), from €87,235 to €79,176
- Financial charges -€3,472
down €3,472 (-29.6%), from €11,721 to €8,249
- Taxes +€2,728
up €2,728 (+110%), from €2,476 to €5,204
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €554,057 | €509,340 | -€44,717 | -8.1% |
| Fixed assets | 21/28 | €509,257 | €480,627 | -€28,630 | -5.6% |
| Tangible fixed assets | 22/27 | €509,257 | €480,627 | -€28,630 | -5.6% |
| Land and buildings | 22 | €23,074 | €35,486 | +€12,412 | +53.8% |
| Leasing and similar rights | 25 | €486,183 | €445,141 | -€41,042 | -8.4% |
| Current assets | 29/58 | €44,800 | €28,713 | -€16,087 | -35.9% |
| Amounts receivable within one year | 40/41 | €22,900 | €113 | -€22,787 | -99.5% |
| Trade receivables | 40 | €542 | - | -€542 | |
| Other amounts receivable | 41 | €22,358 | €113 | -€22,245 | -99.5% |
| Cash at bank and in hand | 54/58 | €21,900 | €28,600 | +€6,700 | +30.6% |
| Total equity and liabilities | 10/49 | €554,057 | €509,340 | -€44,717 | -8.1% |
| Equity | 10/15 | €33,671 | €50,703 | +€17,032 | +50.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €15,071 | €32,103 | +€17,032 | +113% |
| Non-distributable reserves | 130/1 | €1,082 | €1,082 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,082 | €1,082 | = | 0.0% |
| Distributable reserves | 133 | €13,989 | €31,021 | +€17,032 | +122% |
| Amounts payable | 17/49 | €520,386 | €458,636 | -€61,749 | -11.9% |
| Amounts payable after more than one year | 17 | €322,360 | €271,354 | -€51,006 | -15.8% |
| Financial debts | 170/4 | €322,360 | €271,354 | -€51,006 | -15.8% |
| Amounts payable within one year | 42/48 | €198,026 | €187,283 | -€10,744 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €90,477 | €74,206 | -€16,271 | -18.0% |
| Trade debts | 44 | €950 | €29 | -€922 | -97.0% |
| Suppliers | 440/4 | €950 | €29 | -€922 | -97.0% |
| Taxes, remuneration and social security | 45 | €4,969 | €3,418 | -€1,551 | -31.2% |
| Taxes | 450/3 | €4,969 | €3,418 | -€1,551 | -31.2% |
| Other amounts payable | 47/48 | €101,630 | €109,630 | +€8,000 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,536 | €43,316 | +€781 | +1.8% |
| Other operating charges | 640/8 | €5,141 | €5,376 | +€235 | +4.6% |
| Gross operating margin | 9900 | €87,235 | €79,176 | -€8,060 | -9.2% |
| Operating profit (loss) | 9901 | €39,559 | €30,484 | -€9,075 | -22.9% |
| Financial income | 75/76B | €4 | €2 | -€2 | -50.8% |
| Recurring financial income | 75 | €4 | €2 | -€2 | -50.8% |
| Financial charges | 65/66B | €11,721 | €8,249 | -€3,472 | -29.6% |
| Recurring financial charges | 65 | €11,721 | €8,249 | -€3,472 | -29.6% |
| Profit (loss) for the period before taxes | 9903 | €27,841 | €22,236 | -€5,605 | -20.1% |
| Income taxes | 67/77 | €2,476 | €5,204 | +€2,728 | +110% |
| Profit (loss) for the period | 9904 | €25,365 | €17,032 | -€8,333 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,365 | €17,032 | -€8,333 | -32.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.