Immo Pictor: 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 Pictor
Largest movements
- Cash +€155,137
new in 2025: €155,137
mainly Investment in fixed assets (net) (+€98,000) and Net result for the year (+€82,398)
- Tangible fixed assets -€98,000
no longer reported in 2025 (was €98,000)
- Receivables within one year -€4,918
no longer reported in 2025 (was €4,918)
- Reserves +€82,300
up €82,300 (+16,762%), from €491 to €82,791
- Debts after one year -€58,542
no longer reported in 2025 (was €58,542)
- Tax, wage and social debts +€41,221
new in 2025: €41,221
- Current portion of long-term debt -€8,461
no longer reported in 2025 (was €8,461)
- Other debts -€3,921
down €3,921 (-54.6%), from €7,183 to €3,263
- Gross operating margin +€118,161
up €118,161 (+927%), from €12,745 to €130,906
- Taxes +€39,880
up €39,880 (+2,975%), from €1,341 to €41,221
- Depreciation -€6,000
no longer reported in 2025 (was €6,000)
- Financial charges +€2,379
up €2,379 (+65.0%), from €3,661 to €6,040
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 | €102,918 | €155,137 | +€52,219 | +50.7% |
| Fixed assets | 21/28 | €98,000 | - | -€98,000 | |
| Tangible fixed assets | 22/27 | €98,000 | - | -€98,000 | |
| Land and buildings | 22 | €98,000 | - | -€98,000 | |
| Current assets | 29/58 | €4,918 | €155,137 | +€150,219 | +3,054% |
| Amounts receivable within one year | 40/41 | €4,918 | - | -€4,918 | |
| Trade receivables | 40 | €4,918 | - | -€4,918 | |
| Cash at bank and in hand | 54/58 | - | €155,137 | +€155,137 | |
| Total equity and liabilities | 10/49 | €102,918 | €155,137 | +€52,219 | +50.7% |
| Equity | 10/15 | €27,855 | €110,254 | +€82,398 | +296% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €491 | €82,791 | +€82,300 | +16,762% |
| Distributable reserves | 133 | €491 | €82,791 | +€82,300 | +16,762% |
| Profit (loss) carried forward | 14 | €8,764 | €8,863 | +€98 | +1.1% |
| Amounts payable | 17/49 | €75,063 | €44,883 | -€30,180 | -40.2% |
| Amounts payable after more than one year | 17 | €58,542 | - | -€58,542 | |
| Financial debts | 170/4 | €58,542 | - | -€58,542 | |
| Amounts payable within one year | 42/48 | €16,522 | €44,883 | +€28,362 | +172% |
| Current portion of amounts payable after more than one year | 42 | €8,461 | - | -€8,461 | |
| Financial debts | 43 | €207 | - | -€207 | |
| Credit institutions | 430/8 | €207 | - | -€207 | |
| Trade debts | 44 | €670 | €400 | -€271 | -40.4% |
| Suppliers | 440/4 | €670 | €400 | -€271 | -40.4% |
| Taxes, remuneration and social security | 45 | - | €41,221 | +€41,221 | |
| Taxes | 450/3 | - | €41,221 | +€41,221 | |
| Other amounts payable | 47/48 | €7,183 | €3,263 | -€3,921 | -54.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,000 | - | -€6,000 | |
| Other operating charges | 640/8 | €767 | €1,247 | +€480 | +62.7% |
| Gross operating margin | 9900 | €12,745 | €130,906 | +€118,161 | +927% |
| Operating profit (loss) | 9901 | €5,979 | €129,659 | +€123,680 | +2,069% |
| Financial charges | 65/66B | €3,661 | €6,040 | +€2,379 | +65.0% |
| Recurring financial charges | 65 | €3,661 | €6,040 | +€2,379 | +65.0% |
| Profit (loss) for the period before taxes | 9903 | €2,318 | €123,619 | +€121,301 | +5,233% |
| Income taxes | 67/77 | €1,341 | €41,221 | +€39,880 | +2,975% |
| Profit (loss) for the period | 9904 | €977 | €82,398 | +€81,421 | +8,330% |
| Profit (loss) for the period to be appropriated | 9905 | €977 | €82,398 | +€81,421 | +8,330% |
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 20 October 2026 via checked.be.