IMMO-PG: what changed
Two fiscal 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-PG
Largest movements
- Tangible fixed assets +€153,479
up €153,479 (+97.2%), from €157,838 to €311,317
of which Furniture and vehicles: +€140,018
- Cash -€64,361
down €64,361 (-98.0%), from €65,690 to €1,329
mainly Investment in fixed assets (net) (-€178,270) and Other debts (-€90,546)
- Stocks and contracts -€60,714
no longer reported in 2025 (was €60,714)
- Receivables within one year -€40,927
down €40,927 (-95.4%), from €42,890 to €1,963
of which Trade receivables: -€40,115
- Debts after one year +€96,391
up €96,391 (+7489.3%), from €1,287 to €97,678
- Other debts -€90,546
down €90,546 (-64.8%), from €139,741 to €49,195
- Profit (loss) carried forward -€36,863
down €36,863 (-42.6%), from €86,573 to €49,710
- Current portion of long-term debt +€21,950
up €21,950 (+429.7%), from €5,109 to €27,059
- Gross operating margin -€109,179
down €109,179 (-76.7%), from €142,256 to €33,077
- Provisions -€103,538
no longer reported in 2025 (was €103,538)
- Financial charges +€49,847
up €49,847 (+715.2%), from €6,970 to €56,817
- Write-downs -€35,009
down €35,009, from €17,505 to -€17,505
- Depreciation +€12,670
up €12,670 (+104.5%), from €12,120 to €24,791
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 | €444,653 | €431,802 | -€12,851 | -2.9% |
| Fixed assets | 21/28 | €272,669 | €426,148 | +€153,479 | +56.3% |
| Tangible fixed assets | 22/27 | €157,838 | €311,317 | +€153,479 | +97.2% |
| Land and buildings | 22 | €109,369 | €102,935 | -€6,434 | -5.9% |
| Plant, machinery and equipment | 23 | €48,469 | €68,364 | +€19,895 | +41.0% |
| Furniture and vehicles | 24 | - | €140,018 | +€140,018 | |
| Financial fixed assets | 28 | €114,831 | €114,831 | = | 0.0% |
| Current assets | 29/58 | €171,984 | €5,654 | -€166,330 | -96.7% |
| Stocks and contracts in progress | 3 | €60,714 | - | -€60,714 | |
| Stocks | 30/36 | €60,714 | - | -€60,714 | |
| Amounts receivable within one year | 40/41 | €42,890 | €1,963 | -€40,927 | -95.4% |
| Trade receivables | 40 | €42,078 | €1,963 | -€40,115 | -95.3% |
| Other amounts receivable | 41 | €812 | - | -€812 | |
| Cash at bank and in hand | 54/58 | €65,690 | €1,329 | -€64,361 | -98.0% |
| Deferred charges and accrued income | 490/1 | €2,690 | €2,362 | -€328 | -12.2% |
| Total equity and liabilities | 10/49 | €444,653 | €431,802 | -€12,851 | -2.9% |
| Equity | 10/15 | €164,927 | €127,355 | -€37,572 | -22.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €16,354 | €15,646 | -€708 | -4.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,154 | €9,446 | -€708 | -7.0% |
| Profit (loss) carried forward | 14 | €86,573 | €49,710 | -€36,863 | -42.6% |
| Provisions and deferred taxes | 16 | €108,766 | €108,401 | -€365 | -0.3% |
| Provisions for liabilities and charges | 160/5 | €103,538 | €103,538 | = | 0.0% |
| Other liabilities and charges | 164/5 | €103,538 | €103,538 | = | 0.0% |
| Deferred taxes | 168 | €5,229 | €4,864 | -€365 | -7.0% |
| Amounts payable | 17/49 | €170,960 | €196,046 | +€25,086 | +14.7% |
| Amounts payable after more than one year | 17 | €1,287 | €97,678 | +€96,391 | +7489.3% |
| Financial debts | 170/4 | €1,287 | €97,678 | +€96,391 | +7489.3% |
| Amounts payable within one year | 42/48 | €168,634 | €97,612 | -€71,021 | -42.1% |
| Current portion of amounts payable after more than one year | 42 | €5,109 | €27,059 | +€21,950 | +429.7% |
| Financial debts | 43 | - | €3,032 | +€3,032 | |
| Credit institutions | 430/8 | - | €3,032 | +€3,032 | |
| Trade debts | 44 | €15,396 | €13,956 | -€1,440 | -9.4% |
| Suppliers | 440/4 | €15,396 | €13,956 | -€1,440 | -9.4% |
| Advances received on contracts in progress | 46 | €3,224 | €1,274 | -€1,950 | -60.5% |
| Taxes, remuneration and social security | 45 | €5,164 | €3,096 | -€2,068 | -40.0% |
| Taxes | 450/3 | €5,164 | €3,096 | -€2,068 | -40.0% |
| Other amounts payable | 47/48 | €139,741 | €49,195 | -€90,546 | -64.8% |
| Accrued charges and deferred income | 492/3 | €1,040 | €756 | -€284 | -27.3% |
| Turnover | 70 | €600 | - | -€600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,120 | €24,791 | +€12,670 | +104.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,505 | -€17,505 | -€35,009 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €103,538 | - | -€103,538 | |
| Other operating charges | 640/8 | €7,298 | €6,620 | -€678 | -9.3% |
| Gross operating margin | 9900 | €142,256 | €33,077 | -€109,179 | -76.7% |
| Operating profit (loss) | 9901 | €1,796 | €19,171 | +€17,375 | +967.3% |
| Financial income | 75/76B | €3 | €143 | +€140 | +4654.7% |
| Recurring financial income | 75 | €3 | €143 | +€140 | +4654.7% |
| Financial charges | 65/66B | €6,970 | €56,817 | +€49,847 | +715.2% |
| Recurring financial charges | 65 | €6,970 | €56,817 | +€49,847 | +715.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,171 | -€37,503 | -€32,333 | -625.3% |
| Transfer from deferred taxes | 780 | €365 | €365 | = | 0.0% |
| Income taxes | 67/77 | €255 | €433 | +€178 | +69.6% |
| Profit (loss) for the period | 9904 | -€5,061 | -€37,572 | -€32,510 | -642.3% |
| Transfer from tax-exempt reserves | 789 | €708 | €708 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,353 | -€36,863 | -€32,510 | -746.8% |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.