IMMO R: 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 R
Largest movements
- Tangible fixed assets -€155,400
down €155,400 (-25.5%), from €608,487 to €453,088
- Cash -€7,048
down €7,048 (-60.6%), from €11,635 to €4,586
mainly Other debts (-€127,256) and Debts after one year (-€69,826)
- Other debts -€127,256
down €127,256 (-64.7%), from €196,672 to €69,416
- Debts after one year -€69,826
down €69,826 (-16.9%), from €412,141 to €342,315
- Profit (loss) carried forward +€33,010
up €33,010 (+22.4%), from -€147,102 to -€114,093
- Depreciation -€8,031
down €8,031 (-29.1%), from €27,622 to €19,591
- Gross operating margin -€5,330
down €5,330 (-7.1%), from €75,400 to €70,071
- Financial charges -€1,565
down €1,565 (-13.9%), from €11,296 to €9,731
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 | €622,103 | €459,655 | -€162,448 | -26.1% |
| Fixed assets | 21/28 | €608,487 | €453,088 | -€155,400 | -25.5% |
| Tangible fixed assets | 22/27 | €608,487 | €453,088 | -€155,400 | -25.5% |
| Land and buildings | 22 | €608,487 | €453,088 | -€155,400 | -25.5% |
| Current assets | 29/58 | €13,615 | €6,567 | -€7,048 | -51.8% |
| Amounts receivable within one year | 40/41 | €1,981 | €1,981 | = | 0.0% |
| Trade receivables | 40 | €862 | €862 | = | 0.0% |
| Other amounts receivable | 41 | €1,118 | €1,118 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,635 | €4,586 | -€7,048 | -60.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €622,103 | €459,655 | -€162,448 | -26.1% |
| Equity | 10/15 | -€57,102 | -€24,093 | +€33,010 | +57.8% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€147,102 | -€114,093 | +€33,010 | +22.4% |
| Amounts payable | 17/49 | €679,205 | €483,747 | -€195,457 | -28.8% |
| Amounts payable after more than one year | 17 | €412,141 | €342,315 | -€69,826 | -16.9% |
| Financial debts | 170/4 | €412,141 | €342,315 | -€69,826 | -16.9% |
| Amounts payable within one year | 42/48 | €267,063 | €141,432 | -€125,631 | -47.0% |
| Current portion of amounts payable after more than one year | 42 | €69,922 | €71,372 | +€1,450 | +2.1% |
| Trade debts | 44 | €51 | €266 | +€216 | +426.6% |
| Suppliers | 440/4 | €51 | €266 | +€216 | +426.6% |
| Taxes, remuneration and social security | 45 | €419 | €378 | -€41 | -9.7% |
| Taxes | 450/3 | €419 | €378 | -€41 | -9.7% |
| Other amounts payable | 47/48 | €196,672 | €69,416 | -€127,256 | -64.7% |
| Non-recurring operating income | 76A | €74,908 | €49,191 | -€25,716 | -34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,622 | €19,591 | -€8,031 | -29.1% |
| Other operating charges | 640/8 | €7,565 | €7,739 | +€174 | +2.3% |
| Non-recurring operating charges | 66A | €662 | €0 | -€662 | -100.0% |
| Gross operating margin | 9900 | €75,400 | €70,071 | -€5,330 | -7.1% |
| Operating profit (loss) | 9901 | €39,550 | €42,740 | +€3,190 | +8.1% |
| Financial charges | 65/66B | €11,296 | €9,731 | -€1,565 | -13.9% |
| Recurring financial charges | 65 | €11,296 | €9,731 | -€1,565 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €28,255 | €33,010 | +€4,755 | +16.8% |
| Profit (loss) for the period | 9904 | €28,255 | €33,010 | +€4,755 | +16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,255 | €33,010 | +€4,755 | +16.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.