IMMO PAGGEN: 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.
IMMO PAGGEN
Largest movements
- Receivables within one year -€23,884
down €23,884 (-99.0%), from €24,119 to €235
- Cash +€13,032
up €13,032 (+108.8%), from €11,974 to €25,006
mainly Receivables within one year (+€23,884) and Depreciation (+€212)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€1,764
down €1,764 (-169.6%), from -€1,040 to -€2,805
- Other operating charges +€118
up €118 (+30.5%), from €387 to €505
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €486,001 | €477,587 | -€8,414 | -1.7% |
| Formation expenses | 20 | €586 | €374 | -€212 | -36.1% |
| Fixed assets | 21/28 | €449,322 | €451,972 | +€2,650 | +0.6% |
| Tangible fixed assets | 22/27 | €434,172 | €436,822 | +€2,650 | +0.6% |
| Assets under construction and advance payments | 27 | €434,172 | €436,822 | +€2,650 | +0.6% |
| Financial fixed assets | 28 | €15,150 | €15,150 | = | 0.0% |
| Current assets | 29/58 | €36,093 | €25,241 | -€10,852 | -30.1% |
| Amounts receivable within one year | 40/41 | €24,119 | €235 | -€23,884 | -99.0% |
| Other amounts receivable | 41 | €24,119 | €235 | -€23,884 | -99.0% |
| Cash at bank and in hand | 54/58 | €11,974 | €25,006 | +€13,032 | +108.8% |
| Total equity and liabilities | 10/49 | €486,001 | €477,587 | -€8,414 | -1.7% |
| Equity | 10/15 | €4,142 | €427 | -€3,715 | -89.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,858 | -€9,573 | -€3,715 | -63.4% |
| Amounts payable | 17/49 | €481,859 | €477,160 | -€4,699 | -1.0% |
| Amounts payable within one year | 42/48 | €481,859 | €477,160 | -€4,699 | -1.0% |
| Trade debts | 44 | €6,986 | €2,287 | -€4,699 | -67.3% |
| Suppliers | 440/4 | €6,986 | €2,287 | -€4,699 | -67.3% |
| Other amounts payable | 47/48 | €474,873 | €474,873 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €212 | €212 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €505 | +€118 | +30.5% |
| Gross operating margin | 9900 | -€1,040 | -€2,805 | -€1,764 | -169.6% |
| Operating profit (loss) | 9901 | -€1,639 | -€3,522 | -€1,883 | -114.8% |
| Financial charges | 65/66B | €189 | €193 | +€4 | +2.0% |
| Recurring financial charges | 65 | €189 | €193 | +€4 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,829 | -€3,715 | -€1,886 | -103.2% |
| Profit (loss) for the period | 9904 | -€1,829 | -€3,715 | -€1,886 | -103.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,829 | -€3,715 | -€1,886 | -103.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.