IMMO PAK: 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 PAK
Largest movements
- Tangible fixed assets -€56,185
down €56,185 (-10.8%), from €520,185 to €464,000
of which Land and buildings: -€56,804
- Receivables within one year +€52,197
up €52,197 (+53.3%), from €97,904 to €150,101
of which Trade receivables: +€52,197
- Cash -€33,342
down €33,342 (-76.3%), from €43,674 to €10,332
mainly Debts after one year (-€85,022) and Net result for the year (-€52,767)
- Intangible fixed assets -€13,662
down €13,662 (-5.1%), from €269,403 to €255,740
- Debts after one year -€85,022
down €85,022 (-21.1%), from €402,297 to €317,275
- Other debts +€65,672
up €65,672 (+88.0%), from €74,615 to €140,287
- Profit (loss) carried forward -€52,767
down €52,767 (-39.0%), from -€135,256 to -€188,023
- Trade debts +€9,972
up €9,972 (+25.8%), from €38,644 to €48,617
- Gross operating margin +€67,460
up €67,460 (+433.3%), from €15,570 to €83,031
- Financial charges +€12,455
up €12,455 (+18.7%), from €66,648 to €79,102
- Depreciation +€11,923
up €11,923 (+42.9%), from €27,783 to €39,706
- Other operating charges +€8,461
up €8,461 (+109.7%), from €7,710 to €16,171
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 | €951,417 | €899,050 | -€52,368 | -5.5% |
| Fixed assets | 21/28 | €791,089 | €721,242 | -€69,847 | -8.8% |
| Intangible fixed assets | 21 | €269,403 | €255,740 | -€13,662 | -5.1% |
| Tangible fixed assets | 22/27 | €520,185 | €464,000 | -€56,185 | -10.8% |
| Land and buildings | 22 | €454,230 | €397,426 | -€56,804 | -12.5% |
| Plant, machinery and equipment | 23 | €65,955 | €66,575 | +€620 | +0.9% |
| Financial fixed assets | 28 | €1,501 | €1,501 | = | 0.0% |
| Current assets | 29/58 | €160,328 | €177,808 | +€17,479 | +10.9% |
| Amounts receivable within one year | 40/41 | €97,904 | €150,101 | +€52,197 | +53.3% |
| Trade receivables | 40 | €43,460 | €95,657 | +€52,197 | +120.1% |
| Other amounts receivable | 41 | €54,444 | €54,444 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €43,674 | €10,332 | -€33,342 | -76.3% |
| Deferred charges and accrued income | 490/1 | €18,750 | €17,375 | -€1,375 | -7.3% |
| Total equity and liabilities | 10/49 | €951,417 | €899,050 | -€52,368 | -5.5% |
| Equity | 10/15 | -€67,056 | -€119,823 | -€52,767 | -78.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€135,256 | -€188,023 | -€52,767 | -39.0% |
| Provisions and deferred taxes | 16 | €406,510 | €404,994 | -€1,516 | -0.4% |
| Provisions for liabilities and charges | 160/5 | €406,510 | €404,994 | -€1,516 | -0.4% |
| Other liabilities and charges | 164/5 | €406,510 | €404,994 | -€1,516 | -0.4% |
| Amounts payable | 17/49 | €611,963 | €613,879 | +€1,915 | +0.3% |
| Amounts payable after more than one year | 17 | €402,297 | €317,275 | -€85,022 | -21.1% |
| Financial debts | 170/4 | €402,297 | €317,275 | -€85,022 | -21.1% |
| Amounts payable within one year | 42/48 | €209,666 | €296,604 | +€86,938 | +41.5% |
| Current portion of amounts payable after more than one year | 42 | €83,894 | €89,522 | +€5,628 | +6.7% |
| Trade debts | 44 | €38,644 | €48,617 | +€9,972 | +25.8% |
| Suppliers | 440/4 | €38,644 | €48,617 | +€9,972 | +25.8% |
| Taxes, remuneration and social security | 45 | €12,513 | €18,179 | +€5,666 | +45.3% |
| Taxes | 450/3 | €10,643 | €18,179 | +€7,536 | +70.8% |
| Remuneration and social security | 454/9 | €1,870 | - | -€1,870 | |
| Other amounts payable | 47/48 | €74,615 | €140,287 | +€65,672 | +88.0% |
| Non-recurring operating income | 76A | €1,439 | €1,516 | +€77 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,783 | €39,706 | +€11,923 | +42.9% |
| Other operating charges | 640/8 | €7,710 | €16,171 | +€8,461 | +109.7% |
| Gross operating margin | 9900 | €15,570 | €83,031 | +€67,460 | +433.3% |
| Operating profit (loss) | 9901 | -€19,922 | €27,154 | +€47,076 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €66,648 | €79,102 | +€12,455 | +18.7% |
| Recurring financial charges | 65 | €66,648 | €79,102 | +€12,455 | +18.7% |
| Profit (loss) for the period before taxes | 9903 | -€86,570 | -€51,948 | +€34,623 | +40.0% |
| Income taxes | 67/77 | €550 | €820 | +€270 | +49.1% |
| Profit (loss) for the period | 9904 | -€87,120 | -€52,767 | +€34,353 | +39.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€87,120 | -€52,767 | +€34,353 | +39.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.