IMMO PROJECT: what changed
Two fiscal 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 PROJECT
Largest movements
- Tangible fixed assets -€124,679
down €124,679 (-7.3%), from €1.7m to €1.6m
- Equity -€120,898
down €120,898 (-24.9%), from €485,017 to €364,119
of which Profit (loss) carried forward: -€120,898
- Debts after one year -€76,475
down €76,475 (-4.3%), from €1.8m to €1.7m
- Debts within one year +€67,124
up €67,124 (+12.9%), from €519,757 to €586,881
of which Other debts: +€433,890
- Gross operating margin -€81,408
down €81,408 (-67.8%), from €120,125 to €38,717
- Financial charges +€15,945
new in 2021: €15,945
- Other operating charges +€15,096
new in 2021: €15,096
- Depreciation -€2,023
down €2,023 (-1.5%), from €130,596 to €128,573
From the 2020 result to the 2021 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.
Cash bridge derived
Derived from the 2020 and 2021 balance sheets and the 2021 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,776,840 | €2,646,591 | -€130,249 | -4.7% |
| Formation expenses | 20 | €836,136 | €836,136 | = | 0.0% |
| Fixed assets | 21/28 | €1,728,082 | €1,599,508 | -€128,573 | -7.4% |
| Intangible fixed assets | 21 | €11,684 | €7,789 | -€3,895 | -33.3% |
| Tangible fixed assets | 22/27 | €1,716,398 | €1,591,719 | -€124,679 | -7.3% |
| Land and buildings | 22 | - | €770,062 | +€770,062 | |
| Plant, machinery and equipment | 23 | - | €821,657 | +€821,657 | |
| Current assets | 29/58 | €212,622 | €210,947 | -€1,676 | -0.8% |
| Amounts receivable within one year | 40/41 | €210,894 | €210,894 | = | 0.0% |
| Other amounts receivable | 41 | - | €210,894 | +€210,894 | |
| Cash at bank and in hand | 54/58 | €1,728 | €52 | -€1,676 | -97.0% |
| Total equity and liabilities | 10/49 | €2,776,840 | €2,646,591 | -€130,249 | -4.7% |
| Equity | 10/15 | €485,017 | €364,119 | -€120,898 | -24.9% |
| Contributions | 10/11 | €262,000 | €262,000 | = | 0.0% |
| Capital | 10 | - | €262,000 | +€262,000 | |
| Issued capital | 100 | - | €262,000 | +€262,000 | |
| Revaluation surpluses | 12 | - | €836,136 | +€836,136 | |
| Profit (loss) carried forward | 14 | -€613,119 | -€734,017 | -€120,898 | -19.7% |
| Amounts payable | 17/49 | €2,291,824 | €2,282,472 | -€9,352 | -0.4% |
| Amounts payable after more than one year | 17 | €1,772,066 | €1,695,591 | -€76,475 | -4.3% |
| Financial debts | 170/4 | - | €1,695,591 | +€1.7m | |
| Amounts payable within one year | 42/48 | €519,757 | €586,881 | +€67,124 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | - | €137,134 | +€137,134 | |
| Trade debts | 44 | €1,766 | €15,857 | +€14,090 | +797.7% |
| Suppliers | 440/4 | - | €15,857 | +€15,857 | |
| Other amounts payable | 47/48 | - | €433,890 | +€433,890 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,596 | €128,573 | -€2,023 | -1.5% |
| Other operating charges | 640/8 | - | €15,096 | +€15,096 | |
| Gross operating margin | 9900 | €120,125 | €38,717 | -€81,408 | -67.8% |
| Operating profit (loss) | 9901 | -€25,269 | -€104,952 | -€79,683 | -315.3% |
| Financial charges | 65/66B | - | €15,945 | +€15,945 | |
| Recurring financial charges | 65 | €16,613 | €15,945 | -€668 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€41,882 | -€120,898 | -€79,015 | -188.7% |
| Profit (loss) for the period | 9904 | -€41,882 | -€120,898 | -€79,015 | -188.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,882 | -€120,898 | -€79,015 | -188.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.