Immo Pili: what changed
What changed
Immo Pili
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€53,529
2024 · -€37,405-€16,124
Equity
-€322,421
2024 · -€268,891-€53,529
Cash
€3,274
2024 · €598+€2,676
Balance sheet total
€2.0m
2024 · €2.0m-€7,812
Largest movements
Assets
- Tangible fixed assets +€60,073
up €60,073 (+7.0%), from €859,509 to €919,582
of which Land and buildings: +€46,717
- Receivables after one year -€53,083
down €53,083 (-5.4%), from €974,513 to €921,430
Equity and liabilities
- Profit (loss) carried forward -€53,529
down €53,529 (-18.6%), from -€287,747 to -€341,276
- Debts after one year +€35,987
up €35,987 (+1.6%), from €2.3m to €2.3m
- Current portion of long-term debt +€28,191
new in 2025: €28,191
- Other debts -€25,585
down €25,585 (-92.0%), from €27,795 to €2,210
Income statement
- Gross operating margin -€20,252
down €20,252 (-53.2%), from €38,091 to €17,839
- Financial charges +€8,058
up €8,058 (+30.9%), from €26,090 to €34,148
of which Financial charges: +€8,058
- Write-downs -€6,300
down €6,300 (-100%), from €6,300 to €0
- Taxes -€5,926
down €5,926 (-91.6%), from €6,470 to €544
- Depreciation +€3,560
up €3,560 (+11.1%), from €32,110 to €35,670
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€37,405
Gross operating margin
-€20,252
Depreciation
-€3,560
Write-downs
+€6,300
Other operating charges
+€2,583
Financial income
+€937
Financial charges
-€8,058
Taxes
+€5,926
Result 2025
-€53,529
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€34,241
Investment
-€95,743
Financing
+€64,177
Cash 2024
€598
From operations (derived)
+€34,241
Net result for the year
-€53,529
Depreciation
+€35,670
Receivables after one year
+€53,083
Receivables within one year
+€8,025
Deferred charges and accrued income
+€9,453
Trade debts
+€6,651
Tax, wage and social debts
-€159
Other debts
-€25,585
Accrued charges and deferred income
+€633
Investment (derived)
-€95,743
Investment in fixed assets (net)
-€95,743
Financing
+€64,177
Debts after one year
+€35,987
Current portion of long-term debt
+€28,191
Cash 2025
€3,274
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,011,646 | €2,003,834 | -€7,812 | -0.4% |
| Fixed assets | 21/28 | €859,509 | €919,582 | +€60,073 | +7.0% |
| Tangible fixed assets | 22/27 | €859,509 | €919,582 | +€60,073 | +7.0% |
| Land and buildings | 22 | €852,932 | €899,649 | +€46,717 | +5.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €6,577 | €19,933 | +€13,356 | +203% |
| Current assets | 29/58 | €1,152,137 | €1,084,252 | -€67,885 | -5.9% |
| Amounts receivable after more than one year | 29 | €974,513 | €921,430 | -€53,083 | -5.4% |
| Other amounts receivable | 291 | €974,513 | €921,430 | -€53,083 | -5.4% |
| Amounts receivable within one year | 40/41 | €155,071 | €147,046 | -€8,025 | -5.2% |
| Trade receivables | 40 | €1,617 | €966 | -€650 | -40.2% |
| Other amounts receivable | 41 | €153,454 | €146,080 | -€7,374 | -4.8% |
| Cash at bank and in hand | 54/58 | €598 | €3,274 | +€2,676 | +447% |
| Deferred charges and accrued income | 490/1 | €21,954 | €12,502 | -€9,453 | -43.1% |
| Total equity and liabilities | 10/49 | €2,011,646 | €2,003,834 | -€7,812 | -0.4% |
| Equity | 10/15 | -€268,891 | -€322,421 | -€53,529 | -19.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €256 | €256 | = | 0.0% |
| Non-distributable reserves | 130/1 | €256 | €256 | = | 0.0% |
| Reserves not available under the articles | 1311 | €256 | €256 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€287,747 | -€341,276 | -€53,529 | -18.6% |
| Amounts payable | 17/49 | €2,280,537 | €2,326,254 | +€45,717 | +2.0% |
| Amounts payable after more than one year | 17 | €2,250,000 | €2,285,987 | +€35,987 | +1.6% |
| Financial debts | 170/4 | €2,250,000 | €2,285,987 | +€35,987 | +1.6% |
| Amounts payable within one year | 42/48 | €30,537 | €39,635 | +€9,097 | +29.8% |
| Current portion of amounts payable after more than one year | 42 | - | €28,191 | +€28,191 | |
| Trade debts | 44 | €1,612 | €8,263 | +€6,651 | +413% |
| Suppliers | 440/4 | €1,612 | €8,263 | +€6,651 | +413% |
| Taxes, remuneration and social security | 45 | €1,131 | €971 | -€159 | -14.1% |
| Taxes | 450/3 | €1,131 | €971 | -€159 | -14.1% |
| Other amounts payable | 47/48 | €27,795 | €2,210 | -€25,585 | -92.0% |
| Accrued charges and deferred income | 492/3 | - | €633 | +€633 | |
| Non-recurring operating income | 76A | €14,735 | €0 | -€14,735 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,110 | €35,670 | +€3,560 | +11.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,300 | €0 | -€6,300 | -100% |
| Other operating charges | 640/8 | €7,065 | €4,482 | -€2,583 | -36.6% |
| Gross operating margin | 9900 | €38,091 | €17,839 | -€20,252 | -53.2% |
| Operating profit (loss) | 9901 | -€7,385 | -€22,314 | -€14,929 | -202% |
| Financial income | 75/76B | €2,539 | €3,476 | +€937 | +36.9% |
| Recurring financial income | 75 | €2,539 | €3,476 | +€937 | +36.9% |
| Financial charges | 65/66B | €26,090 | €34,148 | +€8,058 | +30.9% |
| Recurring financial charges | 65 | €1,390 | €9,448 | +€8,058 | +580% |
| Non-recurring financial charges | 66B | €24,700 | €24,700 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€30,935 | -€52,985 | -€22,050 | -71.3% |
| Income taxes | 67/77 | €6,470 | €544 | -€5,926 | -91.6% |
| Profit (loss) for the period | 9904 | -€37,405 | -€53,529 | -€16,124 | -43.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,405 | -€53,529 | -€16,124 | -43.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.