IMMO@PROJECTS: 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@PROJECTS
Largest movements
- Receivables within one year -€13,844
down €13,844 (-58.4%), from €23,720 to €9,875
of which Trade receivables: -€18,354
- Cash +€9,340
up €9,340 (+6.6%), from €142,596 to €151,936
mainly Other debts (+€20,579) and Receivables within one year (+€13,844)
- Tangible fixed assets -€9,261
down €9,261 (-20.0%), from €46,287 to €37,025
of which Furniture and vehicles: -€10,555
- Stocks and contracts +€4,165
up €4,165 (+159.6%), from €2,609 to €6,774
- Other debts +€20,579
up €20,579 (+1359.4%), from €1,514 to €22,093
- Tax, wage and social debts -€12,655
down €12,655 (-87.6%), from €14,454 to €1,799
of which Taxes: -€6,990
- Reserves -€11,607
down €11,607 (-8.4%), from €137,681 to €126,074
- Debts after one year -€9,790
down €9,790 (-27.7%), from €35,402 to €25,611
- Current portion of long-term debt +€3,807
up €3,807 (+40.7%), from €9,348 to €13,155
- Gross operating margin -€18,864
down €18,864 (-39.7%), from €47,501 to €28,638
- Taxes -€5,389
down €5,389 (-57.0%), from €9,454 to €4,066
- Depreciation +€3,893
up €3,893 (+55.5%), from €7,020 to €10,913
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.
Cash bridge derived
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 | €218,738 | €209,439 | -€9,299 | -4.3% |
| Fixed assets | 21/28 | €46,287 | €37,025 | -€9,261 | -20.0% |
| Tangible fixed assets | 22/27 | €46,287 | €37,025 | -€9,261 | -20.0% |
| Plant, machinery and equipment | 23 | €145 | €1,439 | +€1,294 | +890.5% |
| Furniture and vehicles | 24 | €46,141 | €35,586 | -€10,555 | -22.9% |
| Current assets | 29/58 | €172,452 | €172,414 | -€38 | 0.0% |
| Stocks and contracts in progress | 3 | €2,609 | €6,774 | +€4,165 | +159.6% |
| Stocks | 30/36 | €2,609 | €6,774 | +€4,165 | +159.6% |
| Amounts receivable within one year | 40/41 | €23,720 | €9,875 | -€13,844 | -58.4% |
| Trade receivables | 40 | €22,295 | €3,941 | -€18,354 | -82.3% |
| Other amounts receivable | 41 | €1,425 | €5,934 | +€4,509 | +316.4% |
| Cash at bank and in hand | 54/58 | €142,596 | €151,936 | +€9,340 | +6.6% |
| Deferred charges and accrued income | 490/1 | €3,527 | €3,829 | +€301 | +8.5% |
| Total equity and liabilities | 10/49 | €218,738 | €209,439 | -€9,299 | -4.3% |
| Equity | 10/15 | €157,681 | €146,074 | -€11,607 | -7.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €137,681 | €126,074 | -€11,607 | -8.4% |
| Distributable reserves | 133 | €137,681 | €126,074 | -€11,607 | -8.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,057 | €63,365 | +€2,308 | +3.8% |
| Amounts payable after more than one year | 17 | €35,402 | €25,611 | -€9,790 | -27.7% |
| Financial debts | 170/4 | €35,402 | €25,611 | -€9,790 | -27.7% |
| Amounts payable within one year | 42/48 | €25,656 | €37,754 | +€12,098 | +47.2% |
| Current portion of amounts payable after more than one year | 42 | €9,348 | €13,155 | +€3,807 | +40.7% |
| Trade debts | 44 | €339 | €707 | +€368 | +108.3% |
| Suppliers | 440/4 | €339 | €707 | +€368 | +108.3% |
| Taxes, remuneration and social security | 45 | €14,454 | €1,799 | -€12,655 | -87.6% |
| Taxes | 450/3 | €8,789 | €1,799 | -€6,990 | -79.5% |
| Remuneration and social security | 454/9 | €5,666 | €0 | -€5,666 | -100.0% |
| Other amounts payable | 47/48 | €1,514 | €22,093 | +€20,579 | +1359.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,020 | €10,913 | +€3,893 | +55.5% |
| Other operating charges | 640/8 | €1,281 | €1,168 | -€113 | -8.8% |
| Gross operating margin | 9900 | €47,501 | €28,638 | -€18,864 | -39.7% |
| Operating profit (loss) | 9901 | €39,200 | €16,556 | -€22,644 | -57.8% |
| Financial income | 75/76B | €19 | €6 | -€13 | -66.8% |
| Recurring financial income | 75 | €19 | €6 | -€13 | -66.8% |
| Financial charges | 65/66B | €1,892 | €2,252 | +€360 | +19.0% |
| Recurring financial charges | 65 | €1,892 | €2,252 | +€360 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €37,327 | €14,310 | -€23,016 | -61.7% |
| Income taxes | 67/77 | €9,454 | €4,066 | -€5,389 | -57.0% |
| Profit (loss) for the period | 9904 | €27,872 | €10,244 | -€17,628 | -63.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,872 | €10,244 | -€17,628 | -63.2% |
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 11 October 2026 via checked.be.