IMMO-RAY-DECO: 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-RAY-DECO
Largest movements
- Receivables within one year +€19,679
up €19,679 (+46.7%), from €42,163 to €61,842
of which Other amounts receivable: +€18,692
- Cash +€15,163
up €15,163 (+23.9%), from €63,428 to €78,590
mainly Depreciation (+€28,139) and Trade debts (+€17,098)
- Tangible fixed assets -€13,298
down €13,298 (-2.9%), from €452,580 to €439,282
of which Land and buildings: -€10,075
- Trade debts +€17,098
up €17,098 (+814.8%), from €2,099 to €19,197
- Other debts +€15,775
up €15,775, from €0 to €15,775
- Profit (loss) carried forward -€7,468
down €7,468 (-14.0%), from €53,523 to €46,056
- Gross operating margin -€13,988
down €13,988 (-24.7%), from €56,736 to €42,748
- Taxes -€4,313
down €4,313 (-85.9%), from €5,024 to €711
- Other operating charges +€1,740
up €1,740 (+20.2%), from €8,616 to €10,356
- Depreciation +€1,633
up €1,633 (+6.2%), from €26,506 to €28,139
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 | €561,300 | €582,135 | +€20,835 | +3.7% |
| Fixed assets | 21/28 | €452,580 | €439,282 | -€13,298 | -2.9% |
| Tangible fixed assets | 22/27 | €452,580 | €439,282 | -€13,298 | -2.9% |
| Land and buildings | 22 | €447,210 | €437,135 | -€10,075 | -2.3% |
| Plant, machinery and equipment | 23 | - | €777 | +€777 | |
| Furniture and vehicles | 24 | €5,370 | €1,370 | -€4,000 | -74.5% |
| Current assets | 29/58 | €108,720 | €142,853 | +€34,133 | +31.4% |
| Amounts receivable within one year | 40/41 | €42,163 | €61,842 | +€19,679 | +46.7% |
| Trade receivables | 40 | €24,560 | €25,547 | +€987 | +4.0% |
| Other amounts receivable | 41 | €17,603 | €36,295 | +€18,692 | +106.2% |
| Cash at bank and in hand | 54/58 | €63,428 | €78,590 | +€15,163 | +23.9% |
| Deferred charges and accrued income | 490/1 | €3,130 | €2,421 | -€709 | -22.7% |
| Total equity and liabilities | 10/49 | €561,300 | €582,135 | +€20,835 | +3.7% |
| Equity | 10/15 | €459,298 | €446,056 | -€13,243 | -2.9% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €5,775 | €0 | -€5,775 | -100.0% |
| Distributable reserves | 133 | €5,775 | €0 | -€5,775 | -100.0% |
| Profit (loss) carried forward | 14 | €53,523 | €46,056 | -€7,468 | -14.0% |
| Amounts payable | 17/49 | €102,002 | €136,079 | +€34,078 | +33.4% |
| Amounts payable after more than one year | 17 | €82,635 | €80,888 | -€1,747 | -2.1% |
| Financial debts | 170/4 | €82,635 | €79,138 | -€3,497 | -4.2% |
| Other amounts payable | 178/9 | - | €1,750 | +€1,750 | |
| Amounts payable within one year | 42/48 | €19,366 | €55,191 | +€35,825 | +185.0% |
| Current portion of amounts payable after more than one year | 42 | €11,587 | €14,587 | +€2,999 | +25.9% |
| Financial debts | 43 | €5,680 | €5,633 | -€48 | -0.8% |
| Credit institutions | 430/8 | €5,680 | €5,633 | -€48 | -0.8% |
| Trade debts | 44 | €2,099 | €19,197 | +€17,098 | +814.8% |
| Suppliers | 440/4 | €2,099 | €19,197 | +€17,098 | +814.8% |
| Other amounts payable | 47/48 | €0 | €15,775 | +€15,775 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,506 | €28,139 | +€1,633 | +6.2% |
| Other operating charges | 640/8 | €8,616 | €10,356 | +€1,740 | +20.2% |
| Gross operating margin | 9900 | €56,736 | €42,748 | -€13,988 | -24.7% |
| Operating profit (loss) | 9901 | €21,614 | €4,253 | -€17,362 | -80.3% |
| Financial income | 75/76B | €1,144 | €1,625 | +€481 | +42.0% |
| Recurring financial income | 75 | €1,144 | €1,625 | +€481 | +42.0% |
| Financial charges | 65/66B | €2,766 | €2,634 | -€132 | -4.8% |
| Recurring financial charges | 65 | €2,766 | €2,634 | -€132 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €19,992 | €3,243 | -€16,749 | -83.8% |
| Income taxes | 67/77 | €5,024 | €711 | -€4,313 | -85.9% |
| Profit (loss) for the period | 9904 | €14,968 | €2,532 | -€12,436 | -83.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,968 | €2,532 | -€12,436 | -83.1% |
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 2 October 2026 via checked.be.