IMMO RECOVI: 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 RECOVI
Largest movements
- Cash -€165,630
down €165,630 (-77.6%), from €213,371 to €47,741
mainly Other debts (-€123,840) and Debts after one year (-€110,418)
- Tangible fixed assets -€33,354
down €33,354 (-2.5%), from €1.3m to €1.3m
of which Furniture and vehicles: -€17,897
- Other debts -€123,840
down €123,840 (-21.2%), from €582,858 to €459,018
- Debts after one year -€110,418
down €110,418 (-8.1%), from €1.4m to €1.3m
- Profit (loss) carried forward +€50,123
up €50,123 (+5.0%), from -€1.0m to -€956,546
- Reserves -€15,997
down €15,997 (-6.0%), from €268,260 to €252,263
of which Tax-exempt reserves: -€15,997
- Gross operating margin +€103,832
up €103,832 (+204%), from €50,854 to €154,686
- Other operating charges -€80,822
down €80,822 (-89.0%), from €90,857 to €10,036
- Depreciation +€20,954
up €20,954 (+39.5%), from €53,067 to €74,020
- Financial charges +€13,576
up €13,576 (+44.2%), from €30,711 to €44,286
- Financial income -€10,145
no longer reported in 2025 (was €10,145)
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 | €1,573,082 | €1,369,781 | -€203,302 | -12.9% |
| Fixed assets | 21/28 | €1,349,096 | €1,315,742 | -€33,354 | -2.5% |
| Tangible fixed assets | 22/27 | €1,349,096 | €1,315,742 | -€33,354 | -2.5% |
| Land and buildings | 22 | €1,255,888 | €1,242,277 | -€13,611 | -1.1% |
| Plant, machinery and equipment | 23 | €10,713 | €8,867 | -€1,846 | -17.2% |
| Furniture and vehicles | 24 | €82,495 | €64,598 | -€17,897 | -21.7% |
| Current assets | 29/58 | €223,987 | €54,039 | -€169,948 | -75.9% |
| Amounts receivable within one year | 40/41 | €8,287 | €3,841 | -€4,447 | -53.7% |
| Trade receivables | 40 | €8,287 | €3,841 | -€4,447 | -53.7% |
| Cash at bank and in hand | 54/58 | €213,371 | €47,741 | -€165,630 | -77.6% |
| Deferred charges and accrued income | 490/1 | €2,328 | €2,457 | +€129 | +5.5% |
| Total equity and liabilities | 10/49 | €1,573,082 | €1,369,781 | -€203,302 | -12.9% |
| Equity | 10/15 | -€676,409 | -€642,283 | +€34,126 | +5.0% |
| 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% |
| Reserves | 13 | €268,260 | €252,263 | -€15,997 | -6.0% |
| Non-distributable reserves | 130/1 | €3,161 | €3,161 | = | 0.0% |
| Legal reserve | 130 | €3,161 | €3,161 | = | 0.0% |
| Tax-exempt reserves | 132 | €255,681 | €239,684 | -€15,997 | -6.3% |
| Distributable reserves | 133 | €9,419 | €9,419 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,006,669 | -€956,546 | +€50,123 | +5.0% |
| Provisions and deferred taxes | 16 | €131,795 | €123,573 | -€8,222 | -6.2% |
| Deferred taxes | 168 | €131,795 | €123,573 | -€8,222 | -6.2% |
| Amounts payable | 17/49 | €2,117,696 | €1,888,490 | -€229,206 | -10.8% |
| Amounts payable after more than one year | 17 | €1,368,059 | €1,257,641 | -€110,418 | -8.1% |
| Financial debts | 170/4 | €1,368,059 | €1,257,641 | -€110,418 | -8.1% |
| Amounts payable within one year | 42/48 | €694,656 | €570,845 | -€123,811 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €106,020 | €110,418 | +€4,398 | +4.1% |
| Trade debts | 44 | €5,369 | €876 | -€4,493 | -83.7% |
| Suppliers | 440/4 | €5,369 | €876 | -€4,493 | -83.7% |
| Taxes, remuneration and social security | 45 | €408 | €532 | +€124 | +30.4% |
| Taxes | 450/3 | €408 | €532 | +€124 | +30.4% |
| Other amounts payable | 47/48 | €582,858 | €459,018 | -€123,840 | -21.2% |
| Accrued charges and deferred income | 492/3 | €54,982 | €60,005 | +€5,023 | +9.1% |
| Non-recurring operating income | 76A | - | €608 | +€608 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,067 | €74,020 | +€20,954 | +39.5% |
| Other operating charges | 640/8 | €90,857 | €10,036 | -€80,822 | -89.0% |
| Gross operating margin | 9900 | €50,854 | €154,686 | +€103,832 | +204% |
| Operating profit (loss) | 9901 | -€93,070 | €70,630 | +€163,700 | |
| Financial income | 75/76B | €10,145 | - | -€10,145 | |
| Recurring financial income | 75 | €10,145 | - | -€10,145 | |
| Financial charges | 65/66B | €30,711 | €44,286 | +€13,576 | +44.2% |
| Recurring financial charges | 65 | €30,711 | €44,286 | +€13,576 | +44.2% |
| Profit (loss) for the period before taxes | 9903 | -€113,636 | €26,343 | +€139,979 | |
| Transfer from deferred taxes | 780 | €8,222 | €8,222 | = | 0.0% |
| Income taxes | 67/77 | €3,296 | €439 | -€2,857 | -86.7% |
| Profit (loss) for the period | 9904 | -€108,710 | €34,126 | +€142,836 | |
| Transfer from tax-exempt reserves | 789 | €15,997 | €15,997 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€92,713 | €50,123 | +€142,836 |
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 25 October 2026 via checked.be.