Immo Pan 2: 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 Pan 2
Largest movements
- Financial fixed assets -€805,709
no longer reported in 2025 (was €805,709)
- Cash -€17,722
down €17,722 (-3.1%), from €578,107 to €560,384
mainly Net result for the year (-€829,073)
- Profit (loss) carried forward -€829,073
down €829,073 (-41.0%), from -€2.0m to -€2.8m
- Financial charges -€988,553
down €988,553 (-55.1%), from €1.8m to €806,040
of which Non-recurring financial charges: -€988,583
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 | €1,384,979 | €560,384 | -€824,594 | -59.5% |
| Formation expenses | 20 | €1,164 | - | -€1,164 | |
| Fixed assets | 21/28 | €805,709 | - | -€805,709 | |
| Financial fixed assets | 28 | €805,709 | - | -€805,709 | |
| Affiliated companies | 280/1 | €805,709 | - | -€805,709 | |
| Participating interests | 280 | €805,709 | - | -€805,709 | |
| Current assets | 29/58 | €578,107 | €560,384 | -€17,722 | -3.1% |
| Cash at bank and in hand | 54/58 | €578,107 | €560,384 | -€17,722 | -3.1% |
| Total equity and liabilities | 10/49 | €1,384,979 | €560,384 | -€824,594 | -59.5% |
| Equity | 10/15 | €1,379,585 | €550,512 | -€829,073 | -60.1% |
| Contributions | 10/11 | €3,400,000 | €3,400,000 | = | 0.0% |
| Capital | 10 | €64,000 | €64,000 | = | 0.0% |
| Issued capital | 100 | €64,000 | €64,000 | = | 0.0% |
| Contributions outside capital | 11 | €3,336,000 | €3,336,000 | = | 0.0% |
| Share premium | 1100/10 | €3,336,000 | €3,336,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,020,415 | -€2,849,488 | -€829,073 | -41.0% |
| Amounts payable | 17/49 | €5,394 | €9,872 | +€4,478 | +83.0% |
| Accrued charges and deferred income | 492/3 | €5,394 | €9,872 | +€4,478 | +83.0% |
| Operating charges | 60/66A | €22,228 | €23,033 | +€805 | +3.6% |
| Services and other goods | 61 | €19,991 | €20,871 | +€880 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,269 | €1,164 | -€106 | -8.3% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Operating profit (loss) | 9901 | -€22,228 | -€23,033 | -€805 | -3.6% |
| Financial charges | 65/66B | €1,794,593 | €806,040 | -€988,553 | -55.1% |
| Recurring financial charges | 65 | €301 | €331 | +€30 | +10.0% |
| Other financial charges | 652/9 | €301 | €331 | +€30 | +10.0% |
| Non-recurring financial charges | 66B | €1,794,291 | €805,709 | -€988,583 | -55.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,816,820 | -€829,073 | +€987,748 | +54.4% |
| Profit (loss) for the period | 9904 | -€1,816,820 | -€829,073 | +€987,748 | +54.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,816,820 | -€829,073 | +€987,748 | +54.4% |
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 10 October 2026 via checked.be.