IMMO PALLEN: 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 PALLEN
Largest movements
- Receivables after one year +€722,172
up €722,172 (+18.4%), from €3.9m to €4.6m
- Cash -€147,518
down €147,518 (-80.7%), from €182,845 to €35,326
mainly Receivables after one year (-€722,172) and Contributions, distributions and other (-€327,643)
- Debts after one year +€187,693
up €187,693 (+112%), from €167,731 to €355,424
- Reserves +€173,037
up €173,037 (+5.5%), from €3.2m to €3.3m
of which Distributable reserves: +€173,037
- Other debts +€89,430
up €89,430 (+37.0%), from €241,831 to €331,261
- Tax, wage and social debts +€80,428
up €80,428 (+95.0%), from €84,665 to €165,093
of which Taxes: +€71,977
- Staff costs +€63,329
up €63,329 (+13.4%), from €471,468 to €534,797
- Financial income +€28,868
up €28,868 (+20.7%), from €139,294 to €168,162
- Financial charges +€17,299
up €17,299 (+1,691%), from €1,023 to €18,322
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
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 | €4,209,686 | €4,734,639 | +€524,953 | +12.5% |
| Fixed assets | 21/28 | €65,613 | €29,689 | -€35,923 | -54.8% |
| Intangible fixed assets | 21 | €8,526 | €5,907 | -€2,618 | -30.7% |
| Tangible fixed assets | 22/27 | €57,087 | €23,782 | -€33,305 | -58.3% |
| Plant, machinery and equipment | 23 | €1,742 | €773 | -€969 | -55.6% |
| Furniture and vehicles | 24 | €55,345 | €23,009 | -€32,336 | -58.4% |
| Current assets | 29/58 | €4,144,073 | €4,704,949 | +€560,876 | +13.5% |
| Amounts receivable after more than one year | 29 | €3,918,956 | €4,641,128 | +€722,172 | +18.4% |
| Other amounts receivable | 291 | €3,918,956 | €4,641,128 | +€722,172 | +18.4% |
| Amounts receivable within one year | 40/41 | €7,222 | €7,246 | +€24 | +0.3% |
| Trade receivables | 40 | €7,222 | €7,246 | +€24 | +0.3% |
| Cash at bank and in hand | 54/58 | €182,845 | €35,326 | -€147,518 | -80.7% |
| Deferred charges and accrued income | 490/1 | €35,050 | €21,249 | -€13,801 | -39.4% |
| Total equity and liabilities | 10/49 | €4,209,686 | €4,734,639 | +€524,953 | +12.5% |
| Equity | 10/15 | €3,679,109 | €3,852,147 | +€173,037 | +4.7% |
| Contributions | 10/11 | €523,200 | €523,200 | = | 0.0% |
| Reserves | 13 | €3,155,909 | €3,328,947 | +€173,037 | +5.5% |
| Non-distributable reserves | 130/1 | €52,320 | €52,320 | = | 0.0% |
| Reserves not available under the articles | 1311 | €52,320 | €52,320 | = | 0.0% |
| Distributable reserves | 133 | €3,103,589 | €3,276,627 | +€173,037 | +5.6% |
| Provisions and deferred taxes | 16 | €28,125 | €28,125 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €28,125 | €28,125 | = | 0.0% |
| Other liabilities and charges | 164/5 | €28,125 | €28,125 | = | 0.0% |
| Amounts payable | 17/49 | €502,451 | €854,366 | +€351,915 | +70.0% |
| Amounts payable after more than one year | 17 | €167,731 | €355,424 | +€187,693 | +112% |
| Other amounts payable | 178/9 | €167,731 | €355,424 | +€187,693 | +112% |
| Amounts payable within one year | 42/48 | €334,621 | €498,942 | +€164,322 | +49.1% |
| Trade debts | 44 | €8,125 | €2,588 | -€5,537 | -68.1% |
| Suppliers | 440/4 | €8,125 | €2,588 | -€5,537 | -68.1% |
| Taxes, remuneration and social security | 45 | €84,665 | €165,093 | +€80,428 | +95.0% |
| Taxes | 450/3 | €27,772 | €99,749 | +€71,977 | +259% |
| Remuneration and social security | 454/9 | €56,893 | €65,344 | +€8,452 | +14.9% |
| Other amounts payable | 47/48 | €241,831 | €331,261 | +€89,430 | +37.0% |
| Accrued charges and deferred income | 492/3 | €99 | - | -€99 | |
| Remuneration, social security and pensions | 62 | €471,468 | €534,797 | +€63,329 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,445 | €10,642 | -€3,804 | -26.3% |
| Other operating charges | 640/8 | €1,291 | €690 | -€602 | -46.6% |
| Non-recurring operating charges | 66A | - | €10,282 | +€10,282 | |
| Gross operating margin | 9900 | €1,077,156 | €1,085,400 | +€8,244 | +0.8% |
| Operating profit (loss) | 9901 | €589,952 | €528,991 | -€60,961 | -10.3% |
| Financial income | 75/76B | €139,294 | €168,162 | +€28,868 | +20.7% |
| Recurring financial income | 75 | €139,294 | €168,162 | +€28,868 | +20.7% |
| Financial charges | 65/66B | €1,023 | €18,322 | +€17,299 | +1,691% |
| Recurring financial charges | 65 | €1,023 | €18,322 | +€17,299 | +1,691% |
| Profit (loss) for the period before taxes | 9903 | €728,222 | €678,830 | -€49,392 | -6.8% |
| Income taxes | 67/77 | €185,373 | €178,149 | -€7,223 | -3.9% |
| Profit (loss) for the period | 9904 | €542,850 | €500,681 | -€42,169 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €542,850 | €500,681 | -€42,169 | -7.8% |
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 29 October 2026 via checked.be.