IMMO P & T: 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 & T
Largest movements
- Receivables within one year -€79,813
down €79,813 (-71.3%), from €111,889 to €32,076
of which Trade receivables: -€75,033
- Tangible fixed assets -€18,762
down €18,762 (-1.9%), from €1.0m to €992,932
- Reserves -€97,773
down €97,773 (-28.8%), from €339,879 to €242,107
of which Distributable reserves: -€71,249
- Gross operating margin -€36,024
down €36,024 (-52.6%), from €68,536 to €32,512
- Financial charges -€10,375
down €10,375 (-70.7%), from €14,670 to €4,294
- Financial income +€5,495
up €5,495 (+170%), from €3,225 to €8,720
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,130,833 | €1,032,258 | -€98,575 | -8.7% |
| Fixed assets | 21/28 | €1,018,945 | €1,000,182 | -€18,762 | -1.8% |
| Tangible fixed assets | 22/27 | €1,011,695 | €992,932 | -€18,762 | -1.9% |
| Land and buildings | 22 | €1,011,695 | €992,932 | -€18,762 | -1.9% |
| Financial fixed assets | 28 | €7,250 | €7,250 | = | 0.0% |
| Current assets | 29/58 | €111,889 | €32,076 | -€79,813 | -71.3% |
| Amounts receivable within one year | 40/41 | €111,889 | €32,076 | -€79,813 | -71.3% |
| Trade receivables | 40 | €107,108 | €32,076 | -€75,033 | -70.1% |
| Other amounts receivable | 41 | €4,780 | - | -€4,780 | |
| Total equity and liabilities | 10/49 | €1,130,833 | €1,032,258 | -€98,575 | -8.7% |
| Equity | 10/15 | €1,081,207 | €983,434 | -€97,773 | -9.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | €679,354 | €679,354 | = | 0.0% |
| Reserves | 13 | €339,879 | €242,107 | -€97,773 | -28.8% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €135,843 | €109,319 | -€26,523 | -19.5% |
| Distributable reserves | 133 | €197,839 | €126,590 | -€71,249 | -36.0% |
| Provisions and deferred taxes | 16 | €33,961 | €27,330 | -€6,631 | -19.5% |
| Deferred taxes | 168 | €33,961 | €27,330 | -€6,631 | -19.5% |
| Amounts payable | 17/49 | €15,666 | €21,494 | +€5,828 | +37.2% |
| Amounts payable within one year | 42/48 | €15,666 | €21,494 | +€5,828 | +37.2% |
| Financial debts | 43 | - | €4,000 | +€4,000 | |
| Credit institutions | 430/8 | - | €4,000 | +€4,000 | |
| Trade debts | 44 | €968 | - | -€968 | |
| Suppliers | 440/4 | €968 | - | -€968 | |
| Taxes, remuneration and social security | 45 | €14,698 | €17,494 | +€2,796 | +19.0% |
| Taxes | 450/3 | €14,698 | €17,494 | +€2,796 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,840 | €18,762 | -€77 | -0.4% |
| Other operating charges | 640/8 | €11,829 | €12,182 | +€352 | +3.0% |
| Gross operating margin | 9900 | €68,536 | €32,512 | -€36,024 | -52.6% |
| Operating profit (loss) | 9901 | €37,867 | €1,568 | -€36,299 | -95.9% |
| Financial income | 75/76B | €3,225 | €8,720 | +€5,495 | +170% |
| Recurring financial income | 75 | €3,225 | €8,720 | +€5,495 | +170% |
| Financial charges | 65/66B | €14,670 | €4,294 | -€10,375 | -70.7% |
| Recurring financial charges | 65 | €14,670 | €4,294 | -€10,375 | -70.7% |
| Profit (loss) for the period before taxes | 9903 | €26,422 | €5,993 | -€20,429 | -77.3% |
| Transfer from deferred taxes | 780 | €2,169 | €6,631 | +€4,461 | +206% |
| Income taxes | 67/77 | €10,182 | €10,397 | +€215 | +2.1% |
| Profit (loss) for the period | 9904 | €18,409 | €2,227 | -€16,182 | -87.9% |
| Transfer from tax-exempt reserves | 789 | €8,678 | €26,523 | +€17,846 | +206% |
| Profit (loss) for the period to be appropriated | 9905 | €27,087 | €28,751 | +€1,664 | +6.1% |
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 20 October 2026 via checked.be.