IMMO R&J: 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 R&J
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves +€33,556
up €33,556 (+11.0%), from €305,108 to €338,664
of which Distributable reserves: +€33,556
- Other debts -€31,777
down €31,777 (-94.3%), from €33,706 to €1,930
- Gross operating margin -€24,985
down €24,985 (-25.8%), from €97,018 to €72,034
- Taxes -€9,747
down €9,747 (-38.4%), from €25,406 to €15,659
- Other operating charges +€8,081
up €8,081 (+175%), from €4,615 to €12,696
- Financial charges -€3,169
down €3,169 (-96.6%), from €3,279 to €110
- Depreciation +€1,248
up €1,248 (+14.1%), from €8,859 to €10,108
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 | €1,677,949 | €1,676,539 | -€1,410 | -0.1% |
| Fixed assets | 21/28 | €1,526,992 | €1,518,845 | -€8,148 | -0.5% |
| Tangible fixed assets | 22/27 | €1,526,992 | €1,518,845 | -€8,148 | -0.5% |
| Land and buildings | 22 | €1,525,755 | €1,517,891 | -€7,864 | -0.5% |
| Plant, machinery and equipment | 23 | €1,237 | €953 | -€283 | -22.9% |
| Current assets | 29/58 | €150,957 | €157,695 | +€6,738 | +4.5% |
| Amounts receivable within one year | 40/41 | €3,123 | €18,811 | +€15,688 | +502% |
| Other amounts receivable | 41 | €3,123 | €18,811 | +€15,688 | +502% |
| Cash at bank and in hand | 54/58 | €144,767 | €134,282 | -€10,484 | -7.2% |
| Deferred charges and accrued income | 490/1 | €3,067 | €4,601 | +€1,534 | +50.0% |
| Total equity and liabilities | 10/49 | €1,677,949 | €1,676,539 | -€1,410 | -0.1% |
| Equity | 10/15 | €1,614,675 | €1,648,231 | +€33,556 | +2.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,247,568 | €1,247,568 | = | 0.0% |
| Reserves | 13 | €305,108 | €338,664 | +€33,556 | +11.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €302,009 | €335,565 | +€33,556 | +11.1% |
| Amounts payable | 17/49 | €63,273 | €28,308 | -€34,966 | -55.3% |
| Amounts payable after more than one year | 17 | €15,500 | €12,430 | -€3,070 | -19.8% |
| Other amounts payable | 178/9 | €15,500 | €12,430 | -€3,070 | -19.8% |
| Amounts payable within one year | 42/48 | €47,773 | €15,878 | -€31,896 | -66.8% |
| Trade debts | 44 | €2,021 | €8,289 | +€6,268 | +310% |
| Suppliers | 440/4 | €2,021 | €8,289 | +€6,268 | +310% |
| Taxes, remuneration and social security | 45 | €12,046 | €5,659 | -€6,387 | -53.0% |
| Taxes | 450/3 | €12,046 | €5,659 | -€6,387 | -53.0% |
| Other amounts payable | 47/48 | €33,706 | €1,930 | -€31,777 | -94.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,859 | €10,108 | +€1,248 | +14.1% |
| Other operating charges | 640/8 | €4,615 | €12,696 | +€8,081 | +175% |
| Gross operating margin | 9900 | €97,018 | €72,034 | -€24,985 | -25.8% |
| Operating profit (loss) | 9901 | €83,544 | €49,230 | -€34,314 | -41.1% |
| Financial income | 75/76B | €102 | €96 | -€7 | -6.5% |
| Recurring financial income | 75 | €102 | €96 | -€7 | -6.5% |
| Financial charges | 65/66B | €3,279 | €110 | -€3,169 | -96.6% |
| Recurring financial charges | 65 | €3,279 | €110 | -€3,169 | -96.6% |
| Profit (loss) for the period before taxes | 9903 | €80,367 | €49,216 | -€31,152 | -38.8% |
| Income taxes | 67/77 | €25,406 | €15,659 | -€9,747 | -38.4% |
| Profit (loss) for the period | 9904 | €54,961 | €33,556 | -€21,405 | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €54,961 | €33,556 | -€21,405 | -38.9% |
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.