IMMO PHILCO: 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 PHILCO
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€18,738
2024 · -€18,439+€37,177
Equity
€4.3m
2024 · €4.2m+€37,790
Cash
€20,915
2024 · €12,140+€8,775
Balance sheet total
€6.3m
2024 · €6.4m-€84,301
Largest movements
Assets
- Tangible fixed assets -€216,428
down €216,428 (-3.8%), from €5.7m to €5.5m
of which Land and buildings: -€211,762
- Receivables within one year +€119,027
up €119,027 (+18.2%), from €654,161 to €773,188
Equity and liabilities
- Provisions -€69,968
down €69,968 (-7.3%), from €960,610 to €890,642
of which Deferred taxes: -€960,610
Income statement
- Taxes -€27,733
down €27,733 (-27.3%), from €101,572 to €73,839
- Financial charges -€7,395
down €7,395 (-14.6%), from €50,636 to €43,241
- Gross operating margin +€4,773
up €4,773 (+1.5%), from €328,621 to €333,394
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
-€18,439
Gross operating margin
+€4,773
Depreciation
+€460
Other operating charges
-€2,280
Financial income
+€1,901
Financial charges
+€7,395
Taxes
+€27,733
Deferred taxes and other
-€2,804
Result 2025
€18,738
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
+€44,189
Investment
-€3,532
Financing
-€31,882
Cash 2024
€12,140
From operations (derived)
+€44,189
Net result for the year
+€18,738
Depreciation
+€219,960
Receivables within one year
-€119,027
Deferred charges and accrued income
-€4,325
Provisions
-€69,968
Trade debts
-€4,625
Tax, wage and social debts
-€26,078
Advances received
+€32,000
Other debts
-€2,487
Investment (derived)
-€3,532
Investment in fixed assets (net)
-€3,532
Financing
-€31,882
Debts after one year
-€32,306
Current portion of long-term debt
-€18,629
Contributions, distributions and other
+€19,053
Cash 2025
€20,915
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,375,617 | €6,291,316 | -€84,301 | -1.3% |
| Fixed assets | 21/28 | €5,701,561 | €5,485,133 | -€216,428 | -3.8% |
| Tangible fixed assets | 22/27 | €5,701,561 | €5,485,133 | -€216,428 | -3.8% |
| Land and buildings | 22 | €5,653,770 | €5,442,008 | -€211,762 | -3.7% |
| Plant, machinery and equipment | 23 | €35,247 | €34,153 | -€1,094 | -3.1% |
| Furniture and vehicles | 24 | €12,544 | €8,972 | -€3,572 | -28.5% |
| Current assets | 29/58 | €674,056 | €806,184 | +€132,127 | +19.6% |
| Amounts receivable within one year | 40/41 | €654,161 | €773,188 | +€119,027 | +18.2% |
| Other amounts receivable | 41 | €654,161 | €773,188 | +€119,027 | +18.2% |
| Cash at bank and in hand | 54/58 | €12,140 | €20,915 | +€8,775 | +72.3% |
| Deferred charges and accrued income | 490/1 | €7,756 | €12,081 | +€4,325 | +55.8% |
| Total equity and liabilities | 10/49 | €6,375,617 | €6,291,316 | -€84,301 | -1.3% |
| Equity | 10/15 | €4,247,830 | €4,285,620 | +€37,790 | +0.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,310,296 | €2,348,086 | +€37,790 | +1.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,270,757 | €2,171,604 | -€99,153 | -4.4% |
| Distributable reserves | 133 | €37,680 | €174,623 | +€136,943 | +363% |
| Profit (loss) carried forward | 14 | €1,918,942 | €1,918,942 | = | 0.0% |
| Provisions and deferred taxes | 16 | €960,610 | €890,642 | -€69,968 | -7.3% |
| Provisions for liabilities and charges | 160/5 | - | €890,642 | +€890,642 | |
| Pensions and similar obligations | 160 | - | €890,642 | +€890,642 | |
| Deferred taxes | 168 | €960,610 | - | -€960,610 | |
| Amounts payable | 17/49 | €1,167,177 | €1,115,054 | -€52,124 | -4.5% |
| Amounts payable after more than one year | 17 | €426,511 | €394,206 | -€32,306 | -7.6% |
| Financial debts | 170/4 | €426,511 | €394,206 | -€32,306 | -7.6% |
| Amounts payable within one year | 42/48 | €740,666 | €720,848 | -€19,818 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €489,274 | €470,645 | -€18,629 | -3.8% |
| Trade debts | 44 | €33,764 | €29,139 | -€4,625 | -13.7% |
| Suppliers | 440/4 | €33,764 | €29,139 | -€4,625 | -13.7% |
| Advances received on contracts in progress | 46 | €11,000 | €43,000 | +€32,000 | +291% |
| Taxes, remuneration and social security | 45 | €204,142 | €178,064 | -€26,078 | -12.8% |
| Taxes | 450/3 | €204,142 | €178,064 | -€26,078 | -12.8% |
| Other amounts payable | 47/48 | €2,487 | - | -€2,487 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €220,420 | €219,960 | -€460 | -0.2% |
| Other operating charges | 640/8 | €66,624 | €68,904 | +€2,280 | +3.4% |
| Gross operating margin | 9900 | €328,621 | €333,394 | +€4,773 | +1.5% |
| Operating profit (loss) | 9901 | €41,577 | €44,530 | +€2,953 | +7.1% |
| Financial income | 75/76B | €38,472 | €40,373 | +€1,901 | +4.9% |
| Recurring financial income | 75 | €38,472 | €40,373 | +€1,901 | +4.9% |
| Financial charges | 65/66B | €50,636 | €43,241 | -€7,395 | -14.6% |
| Recurring financial charges | 65 | €50,636 | €43,241 | -€7,395 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €29,413 | €41,662 | +€12,249 | +41.6% |
| Transfer from deferred taxes | 780 | €53,720 | €50,915 | -€2,804 | -5.2% |
| Income taxes | 67/77 | €101,572 | €73,839 | -€27,733 | -27.3% |
| Profit (loss) for the period | 9904 | -€18,439 | €18,738 | +€37,177 | |
| Transfer from tax-exempt reserves | 789 | €125,346 | €118,205 | -€7,141 | -5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €106,907 | €136,943 | +€30,036 | +28.1% |
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 18 October 2026 via checked.be.