Immo - PDG: 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.
What changed
Immo - PDG
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€33,725
2024 · -€13,337-€20,388
Equity
€8.0m
2024 · €8.0m-€33,725
Cash
€111,712
2024 · €159,133-€47,421
Balance sheet total
€10.9m
2024 · €10.1m+€839,999
Largest movements
Assets
- Tangible fixed assets +€703,053
up €703,053 (+8.0%), from €8.7m to €9.4m
of which Land and buildings: +€721,675
Equity and liabilities
- Short-term financial debts +€858,098
new in 2025: €858,098
Income statement
- Depreciation +€51,079
up €51,079 (+9.7%), from €528,816 to €579,895
- Gross operating margin +€29,866
up €29,866 (+4.7%), from €641,626 to €671,492
- Taxes -€13,509
down €13,509 (-26.6%), from €50,843 to €37,334
- Financial charges +€11,409
up €11,409 (+177%), from €6,446 to €17,855
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.
Result 2024
-€13,337
Gross operating margin
+€29,866
Depreciation
-€51,079
Other operating charges
-€4,386
Other operating items
+€1,655
Financial income
+€1,456
Financial charges
-€11,409
Taxes
+€13,509
Result 2025
-€33,725
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€448,466
Investment
-€1.3m
Financing
+€786,022
Cash 2024
€159,133
From operations (derived)
+€448,466
Net result for the year
-€33,725
Depreciation
+€579,895
Stocks and contracts
-€47,952
Receivables within one year
-€88,504
Deferred charges and accrued income
-€48,951
Provisions
-€17,486
Trade debts
+€39,826
Tax, wage and social debts
-€11,061
Advances received
+€1,986
Other debts
+€64,357
Accrued charges and deferred income
+€10,080
Investment (derived)
-€1.3m
Investment in fixed assets (net)
-€1.3m
Financing
+€786,022
Debts after one year
-€73,320
Current portion of long-term debt
+€1,243
Short-term financial debts
+€858,098
Cash 2025
€111,712
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,097,919 | €10,937,918 | +€839,999 | +8.3% |
| Fixed assets | 21/28 | €8,742,540 | €9,444,553 | +€702,013 | +8.0% |
| Intangible fixed assets | 21 | €2,154 | €1,114 | -€1,040 | -48.3% |
| Tangible fixed assets | 22/27 | €8,739,717 | €9,442,770 | +€703,053 | +8.0% |
| Land and buildings | 22 | €8,629,383 | €9,351,058 | +€721,675 | +8.4% |
| Plant, machinery and equipment | 23 | €20,184 | €16,668 | -€3,516 | -17.4% |
| Furniture and vehicles | 24 | €90,150 | €75,044 | -€15,106 | -16.8% |
| Financial fixed assets | 28 | €669 | €669 | = | 0.0% |
| Current assets | 29/58 | €1,355,379 | €1,493,365 | +€137,986 | +10.2% |
| Stocks and contracts in progress | 3 | €914,821 | €962,772 | +€47,952 | +5.2% |
| Stocks | 30/36 | €914,821 | €962,772 | +€47,952 | +5.2% |
| Amounts receivable within one year | 40/41 | €263,323 | €351,826 | +€88,504 | +33.6% |
| Trade receivables | 40 | €31,821 | €13,542 | -€18,279 | -57.4% |
| Other amounts receivable | 41 | €231,502 | €338,284 | +€106,783 | +46.1% |
| Cash at bank and in hand | 54/58 | €159,133 | €111,712 | -€47,421 | -29.8% |
| Deferred charges and accrued income | 490/1 | €18,103 | €67,054 | +€48,951 | +270% |
| Total equity and liabilities | 10/49 | €10,097,919 | €10,937,918 | +€839,999 | +8.3% |
| Equity | 10/15 | €8,033,790 | €8,000,065 | -€33,725 | -0.4% |
| Contributions | 10/11 | €6,835,073 | €6,835,073 | = | 0.0% |
| Capital | 10 | €6,835,073 | €6,835,073 | = | 0.0% |
| Issued capital | 100 | €6,835,073 | €6,835,073 | = | 0.0% |
| Reserves | 13 | €1,198,718 | €1,164,000 | -€34,718 | -2.9% |
| Non-distributable reserves | 130/1 | €103,441 | €104,377 | +€937 | +0.9% |
| Legal reserve | 130 | €7,680 | €8,617 | +€937 | +12.2% |
| Other | 1319 | €95,760 | €95,760 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,095,277 | €1,042,820 | -€52,457 | -4.8% |
| Distributable reserves | 133 | - | €16,803 | +€16,803 | |
| Profit (loss) carried forward | 14 | - | €993 | +€993 | |
| Provisions and deferred taxes | 16 | €362,228 | €344,742 | -€17,486 | -4.8% |
| Deferred taxes | 168 | €362,228 | €344,742 | -€17,486 | -4.8% |
| Amounts payable | 17/49 | €1,701,900 | €2,593,110 | +€891,210 | +52.4% |
| Amounts payable after more than one year | 17 | €1,335,494 | €1,262,174 | -€73,320 | -5.5% |
| Financial debts | 170/4 | €1,335,494 | €1,262,174 | -€73,320 | -5.5% |
| Amounts payable within one year | 42/48 | €334,578 | €1,289,029 | +€954,450 | +285% |
| Current portion of amounts payable after more than one year | 42 | €78,135 | €79,378 | +€1,243 | +1.6% |
| Financial debts | 43 | - | €858,098 | +€858,098 | |
| Credit institutions | 430/8 | - | €858,098 | +€858,098 | |
| Trade debts | 44 | €62,700 | €102,527 | +€39,826 | +63.5% |
| Suppliers | 440/4 | €62,700 | €102,527 | +€39,826 | +63.5% |
| Advances received on contracts in progress | 46 | €159,269 | €161,255 | +€1,986 | +1.2% |
| Taxes, remuneration and social security | 45 | €17,457 | €6,396 | -€11,061 | -63.4% |
| Taxes | 450/3 | €17,457 | €6,396 | -€11,061 | -63.4% |
| Other amounts payable | 47/48 | €17,017 | €81,375 | +€64,357 | +378% |
| Accrued charges and deferred income | 492/3 | €31,828 | €41,907 | +€10,080 | +31.7% |
| Non-recurring operating income | 76A | €222 | €3,527 | +€3,305 | +1,486% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €528,816 | €579,895 | +€51,079 | +9.7% |
| Other operating charges | 640/8 | €87,944 | €92,330 | +€4,386 | +5.0% |
| Non-recurring operating charges | 66A | €5,025 | €3,369 | -€1,655 | -32.9% |
| Gross operating margin | 9900 | €641,626 | €671,492 | +€29,866 | +4.7% |
| Operating profit (loss) | 9901 | €19,842 | -€4,102 | -€23,944 | |
| Financial income | 75/76B | €6,625 | €8,081 | +€1,456 | +22.0% |
| Recurring financial income | 75 | €6,625 | €8,081 | +€1,456 | +22.0% |
| Financial charges | 65/66B | €6,446 | €17,855 | +€11,409 | +177% |
| Recurring financial charges | 65 | €6,446 | €17,855 | +€11,409 | +177% |
| Profit (loss) for the period before taxes | 9903 | €20,021 | -€13,877 | -€33,897 | |
| Transfer from deferred taxes | 780 | €17,486 | €17,486 | +€0 | 0.0% |
| Income taxes | 67/77 | €50,843 | €37,334 | -€13,509 | -26.6% |
| Profit (loss) for the period | 9904 | -€13,337 | -€33,725 | -€20,388 | -153% |
| Transfer from tax-exempt reserves | 789 | €52,457 | €52,457 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,120 | €18,732 | -€20,388 | -52.1% |
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 13 October 2026 via checked.be.