IMMO PHILYAN: 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 PHILYAN
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€183,054
2024 · -€32,423+€215,478
Equity
€1.3m
2024 · €1.1m+€183,054
Cash
€5,026
2024 · €4,768+€258
Balance sheet total
€2.4m
2024 · €2.0m+€424,182
Largest movements
Assets
- Tangible fixed assets +€424,717
up €424,717 (+21.5%), from €2.0m to €2.4m
of which Land and buildings: +€330,763
Equity and liabilities
- Other debts +€244,975
up €244,975 (+415%), from €59,035 to €304,010
- Reserves +€177,860
up €177,860 (+20.7%), from €859,983 to €1.0m
of which Tax-exempt reserves: +€177,860
- Debts after one year -€63,480
down €63,480 (-13.3%), from €475,768 to €412,288
- Provisions +€59,287
up €59,287 (+23.5%), from €252,601 to €311,887
Income statement
- Gross operating margin +€293,520
up €293,520 (+494%), from €59,380 to €352,900
- Depreciation +€9,974
up €9,974 (+12.3%), from €80,797 to €90,771
- Other operating charges +€4,166
up €4,166 (+53.6%), from €7,775 to €11,940
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
-€32,423
Gross operating margin
+€293,520
Depreciation
-€9,974
Other operating charges
-€4,166
Financial income
-€3
Financial charges
+€1,157
Taxes
-€29
Deferred taxes and other
-€65,027
Result 2025
€183,054
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
+€578,320
Investment
-€515,488
Financing
-€62,573
Cash 2024
€4,768
From operations (derived)
+€578,320
Net result for the year
+€183,054
Depreciation
+€90,771
Receivables within one year
+€6,210
Deferred charges and accrued income
-€5,416
Provisions
+€59,287
Smaller working-capital items
-€561
Other debts
+€244,975
Investment (derived)
-€515,488
Investment in fixed assets (net)
-€515,488
Financing
-€62,573
Debts after one year
-€63,480
Current portion of long-term debt
+€906
Cash 2025
€5,026
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,987,286 | €2,411,467 | +€424,182 | +21.3% |
| Fixed assets | 21/28 | €1,973,126 | €2,397,843 | +€424,717 | +21.5% |
| Tangible fixed assets | 22/27 | €1,973,126 | €2,397,843 | +€424,717 | +21.5% |
| Land and buildings | 22 | €1,927,237 | €2,258,000 | +€330,763 | +17.2% |
| Furniture and vehicles | 24 | €45,889 | €139,843 | +€93,954 | +205% |
| Current assets | 29/58 | €14,160 | €13,624 | -€536 | -3.8% |
| Amounts receivable within one year | 40/41 | €6,210 | €0 | -€6,210 | -100% |
| Trade receivables | 40 | €6,210 | €0 | -€6,210 | -100% |
| Cash at bank and in hand | 54/58 | €4,768 | €5,026 | +€258 | +5.4% |
| Deferred charges and accrued income | 490/1 | €3,182 | €8,598 | +€5,416 | +170% |
| Total equity and liabilities | 10/49 | €1,987,286 | €2,411,467 | +€424,182 | +21.3% |
| Equity | 10/15 | €1,133,474 | €1,316,529 | +€183,054 | +16.1% |
| Contributions | 10/11 | €621,500 | €621,500 | = | 0.0% |
| Capital | 10 | €621,500 | €621,500 | = | 0.0% |
| Issued capital | 100 | €621,500 | €621,500 | = | 0.0% |
| Reserves | 13 | €859,983 | €1,037,843 | +€177,860 | +20.7% |
| Non-distributable reserves | 130/1 | €62,150 | €62,150 | = | 0.0% |
| Legal reserve | 130 | €62,150 | €62,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €757,802 | €935,662 | +€177,860 | +23.5% |
| Distributable reserves | 133 | €40,031 | €40,031 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€348,009 | -€342,815 | +€5,194 | +1.5% |
| Provisions and deferred taxes | 16 | €252,601 | €311,887 | +€59,287 | +23.5% |
| Deferred taxes | 168 | €252,601 | €311,887 | +€59,287 | +23.5% |
| Amounts payable | 17/49 | €601,210 | €783,051 | +€181,841 | +30.2% |
| Amounts payable after more than one year | 17 | €475,768 | €412,288 | -€63,480 | -13.3% |
| Financial debts | 170/4 | €475,768 | €412,288 | -€63,480 | -13.3% |
| Amounts payable within one year | 42/48 | €123,392 | €369,833 | +€246,440 | +200% |
| Current portion of amounts payable after more than one year | 42 | €62,573 | €63,480 | +€906 | +1.4% |
| Trade debts | 44 | €514 | €1,106 | +€592 | +115% |
| Suppliers | 440/4 | €514 | €1,106 | +€592 | +115% |
| Taxes, remuneration and social security | 45 | €1,269 | €1,236 | -€33 | -2.6% |
| Taxes | 450/3 | €1,269 | €1,236 | -€33 | -2.6% |
| Other amounts payable | 47/48 | €59,035 | €304,010 | +€244,975 | +415% |
| Accrued charges and deferred income | 492/3 | €2,050 | €930 | -€1,120 | -54.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,797 | €90,771 | +€9,974 | +12.3% |
| Other operating charges | 640/8 | €7,775 | €11,940 | +€4,166 | +53.6% |
| Gross operating margin | 9900 | €59,380 | €352,900 | +€293,520 | +494% |
| Operating profit (loss) | 9901 | -€29,192 | €250,189 | +€279,381 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -100% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100% |
| Financial charges | 65/66B | €8,372 | €7,215 | -€1,157 | -13.8% |
| Recurring financial charges | 65 | €8,372 | €7,215 | -€1,157 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | -€37,560 | €242,974 | +€280,534 | |
| Transfer from deferred taxes | 780 | €5,740 | €7,659 | +€1,919 | +33.4% |
| Transfer to deferred taxes | 680 | €0 | €66,946 | +€66,946 | |
| Income taxes | 67/77 | €603 | €633 | +€29 | +4.9% |
| Profit (loss) for the period | 9904 | -€32,423 | €183,054 | +€215,478 | |
| Transfer from tax-exempt reserves | 789 | €17,220 | €22,976 | +€5,756 | +33.4% |
| Transfer to tax-exempt reserves | 689 | €0 | €200,836 | +€200,836 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,204 | €5,194 | +€20,398 |
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 15 October 2026 via checked.be.