IMMO PHONDA: 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 PHONDA
Largest movements
- Receivables within one year -€90,655
down €90,655 (-83.7%), from €108,351 to €17,696
of which Other amounts receivable: -€90,228
- Cash +€42,781
up €42,781 (+60.6%), from €70,636 to €113,417
mainly Receivables within one year (+€90,655) and Depreciation (+€31,902)
- Tangible fixed assets -€31,902
down €31,902 (-11.3%), from €282,860 to €250,958
of which Land and buildings: -€30,556
- Tax, wage and social debts -€58,534
down €58,534 (-40.7%), from €143,975 to €85,441
- Debts after one year -€31,849
down €31,849 (-12.3%), from €258,895 to €227,046
of which Financial debts: -€31,849
- Other debts +€28,511
new in 2025: €28,511
- Reserves -€22,389
down €22,389 (-9.9%), from €226,207 to €203,817
of which Tax-exempt reserves: -€11,445
- Taxes -€105,129
down €105,129 (-99.7%), from €105,441 to €312
- Gross operating margin -€93,524
down €93,524 (-82.2%), from €113,840 to €20,316
- Financial charges -€17,064
down €17,064 (-71.8%), from €23,780 to €6,716
of which Financial charges: -€15,430
- Other operating charges -€3,904
down €3,904 (-49.3%), from €7,925 to €4,021
- Staff costs -€2,250
no longer reported in 2025 (was €2,250)
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €670,324 | €587,134 | -€83,189 | -12.4% |
| Fixed assets | 21/28 | €283,910 | €252,008 | -€31,902 | -11.2% |
| Tangible fixed assets | 22/27 | €282,860 | €250,958 | -€31,902 | -11.3% |
| Land and buildings | 22 | €277,513 | €246,957 | -€30,556 | -11.0% |
| Plant, machinery and equipment | 23 | €2,812 | €2,446 | -€366 | -13.0% |
| Furniture and vehicles | 24 | €2,536 | €1,555 | -€981 | -38.7% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €386,413 | €335,126 | -€51,287 | -13.3% |
| Amounts receivable after more than one year | 29 | €201,144 | €201,144 | = | 0.0% |
| Other amounts receivable | 291 | €201,144 | €201,144 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €108,351 | €17,696 | -€90,655 | -83.7% |
| Trade receivables | 40 | €492 | €65 | -€427 | -86.8% |
| Other amounts receivable | 41 | €107,859 | €17,632 | -€90,228 | -83.7% |
| Current investments | 50/53 | €2,486 | €2,486 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €70,636 | €113,417 | +€42,781 | +60.6% |
| Deferred charges and accrued income | 490/1 | €3,796 | €383 | -€3,413 | -89.9% |
| Total equity and liabilities | 10/49 | €670,324 | €587,134 | -€83,189 | -12.4% |
| Equity | 10/15 | €232,412 | €210,023 | -€22,389 | -9.6% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €226,207 | €203,817 | -€22,389 | -9.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,445 | - | -€11,445 | |
| Distributable reserves | 133 | €212,902 | €201,957 | -€10,944 | -5.1% |
| Amounts payable | 17/49 | €437,912 | €377,112 | -€60,800 | -13.9% |
| Amounts payable after more than one year | 17 | €258,895 | €227,046 | -€31,849 | -12.3% |
| Financial debts | 170/4 | €253,615 | €221,766 | -€31,849 | -12.6% |
| Other amounts payable | 178/9 | €5,280 | €5,280 | = | 0.0% |
| Amounts payable within one year | 42/48 | €176,141 | €147,180 | -€28,961 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €30,846 | €31,849 | +€1,003 | +3.3% |
| Trade debts | 44 | €1,320 | €1,379 | +€59 | +4.4% |
| Suppliers | 440/4 | €1,320 | €1,379 | +€59 | +4.4% |
| Taxes, remuneration and social security | 45 | €143,975 | €85,441 | -€58,534 | -40.7% |
| Taxes | 450/3 | €143,975 | €85,441 | -€58,534 | -40.7% |
| Other amounts payable | 47/48 | - | €28,511 | +€28,511 | |
| Accrued charges and deferred income | 492/3 | €2,876 | €2,886 | +€10 | +0.3% |
| Non-recurring operating income | 76A | €66,193 | - | -€66,193 | |
| Remuneration, social security and pensions | 62 | €2,250 | - | -€2,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,613 | €31,902 | -€1,711 | -5.1% |
| Other operating charges | 640/8 | €7,925 | €4,021 | -€3,904 | -49.3% |
| Gross operating margin | 9900 | €113,840 | €20,316 | -€93,524 | -82.2% |
| Operating profit (loss) | 9901 | €70,053 | -€15,607 | -€85,660 | |
| Financial income | 75/76B | €0 | €246 | +€246 | +2,457,800% |
| Recurring financial income | 75 | €0 | €246 | +€246 | +2,457,800% |
| Financial charges | 65/66B | €23,780 | €6,716 | -€17,064 | -71.8% |
| Recurring financial charges | 65 | €22,146 | €6,716 | -€15,430 | -69.7% |
| Non-recurring financial charges | 66B | €1,634 | - | -€1,634 | |
| Profit (loss) for the period before taxes | 9903 | €46,273 | -€22,078 | -€68,351 | |
| Transfer from deferred taxes | 780 | €68,740 | - | -€68,740 | |
| Income taxes | 67/77 | €105,441 | €312 | -€105,129 | -99.7% |
| Profit (loss) for the period | 9904 | €9,572 | -€22,389 | -€31,961 | |
| Transfer from tax-exempt reserves | 789 | €226,371 | €11,445 | -€214,926 | -94.9% |
| Profit (loss) for the period to be appropriated | 9905 | €235,942 | -€10,944 | -€246,887 |
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 14 October 2026 via checked.be.