IMMO PAKAM: 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 PAKAM
Largest movements
- Tangible fixed assets +€23,119
up €23,119 (+2.1%), from €1.1m to €1.1m
of which Land and buildings: +€23,150
- Debts after one year -€104,910
down €104,910 (-58.1%), from €180,575 to €75,665
of which Financial debts: -€104,910
- Reserves +€81,397
up €81,397 (+1313.5%), from €6,197 to €87,594
of which Tax-exempt reserves: +€81,397
- Profit (loss) carried forward +€30,632
up €30,632 (+24.3%), from €125,809 to €156,441
- Provisions +€27,132
new in 2025: €27,132
- Current portion of long-term debt -€25,340
down €25,340 (-80.8%), from €31,378 to €6,038
- Gross operating margin +€126,562
up €126,562 (+182.7%), from €69,264 to €195,827
- Depreciation -€6,774
down €6,774 (-16.1%), from €42,096 to €35,321
- Taxes +€6,555
up €6,555 (+108.0%), from €6,069 to €12,624
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 | €1,101,106 | €1,119,851 | +€18,745 | +1.7% |
| Fixed assets | 21/28 | €1,086,902 | €1,110,020 | +€23,119 | +2.1% |
| Tangible fixed assets | 22/27 | €1,086,902 | €1,110,020 | +€23,119 | +2.1% |
| Land and buildings | 22 | €1,086,870 | €1,110,020 | +€23,150 | +2.1% |
| Furniture and vehicles | 24 | €32 | €0 | -€32 | -100.0% |
| Current assets | 29/58 | €14,204 | €9,831 | -€4,373 | -30.8% |
| Amounts receivable within one year | 40/41 | €7,309 | €3,931 | -€3,378 | -46.2% |
| Other amounts receivable | 41 | €7,309 | €3,931 | -€3,378 | -46.2% |
| Cash at bank and in hand | 54/58 | €6,364 | €5,506 | -€858 | -13.5% |
| Deferred charges and accrued income | 490/1 | €532 | €394 | -€138 | -26.0% |
| Total equity and liabilities | 10/49 | €1,101,106 | €1,119,851 | +€18,745 | +1.7% |
| Equity | 10/15 | €193,979 | €306,008 | +€112,029 | +57.8% |
| 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% |
| Reserves | 13 | €6,197 | €87,594 | +€81,397 | +1313.5% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €81,397 | +€81,397 | |
| Profit (loss) carried forward | 14 | €125,809 | €156,441 | +€30,632 | +24.3% |
| Provisions and deferred taxes | 16 | - | €27,132 | +€27,132 | |
| Deferred taxes | 168 | - | €27,132 | +€27,132 | |
| Amounts payable | 17/49 | €907,127 | €786,711 | -€120,416 | -13.3% |
| Amounts payable after more than one year | 17 | €180,575 | €75,665 | -€104,910 | -58.1% |
| Financial debts | 170/4 | €180,254 | €75,344 | -€104,910 | -58.2% |
| Other amounts payable | 178/9 | €321 | €321 | = | 0.0% |
| Amounts payable within one year | 42/48 | €724,980 | €708,545 | -€16,434 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €31,378 | €6,038 | -€25,340 | -80.8% |
| Trade debts | 44 | €9,430 | €17,778 | +€8,348 | +88.5% |
| Suppliers | 440/4 | €9,430 | €17,778 | +€8,348 | +88.5% |
| Taxes, remuneration and social security | 45 | - | €2,624 | +€2,624 | |
| Taxes | 450/3 | - | €2,624 | +€2,624 | |
| Other amounts payable | 47/48 | €684,171 | €682,105 | -€2,066 | -0.3% |
| Accrued charges and deferred income | 492/3 | €1,572 | €2,500 | +€928 | +59.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,096 | €35,321 | -€6,774 | -16.1% |
| Other operating charges | 640/8 | €1,261 | €2,361 | +€1,100 | +87.2% |
| Gross operating margin | 9900 | €69,264 | €195,827 | +€126,562 | +182.7% |
| Operating profit (loss) | 9901 | €25,908 | €158,144 | +€132,236 | +510.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €7,080 | €6,359 | -€721 | -10.2% |
| Recurring financial charges | 65 | €7,080 | €6,359 | -€721 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €18,828 | €151,786 | +€132,958 | +706.2% |
| Transfer to deferred taxes | 680 | - | €27,132 | +€27,132 | |
| Income taxes | 67/77 | €6,069 | €12,624 | +€6,555 | +108.0% |
| Profit (loss) for the period | 9904 | €12,759 | €112,029 | +€99,270 | +778.0% |
| Transfer to tax-exempt reserves | 689 | - | €81,397 | +€81,397 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,759 | €30,632 | +€17,873 | +140.1% |
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 11 October 2026 via checked.be.