IMMO-REGARD: 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-REGARD
Largest movements
- Current investments +€166,127
new in 2025: €166,127
- Cash -€33,172
down €33,172 (-49.9%), from €66,464 to €33,292
mainly Current investments (-€166,127) and Contributions, distributions and other (-€51,000)
- Tangible fixed assets -€30,607
down €30,607 (-9.5%), from €323,422 to €292,815
of which Land and buildings: -€16,709
- Receivables within one year -€25,710
down €25,710 (-71.5%), from €35,981 to €10,272
of which Trade receivables: -€21,142
- Other debts +€48,500
up €48,500 (+146.7%), from €33,071 to €81,570
- Reserves +€43,000
up €43,000 (+39.9%), from €107,700 to €150,700
- Debts after one year -€27,361
down €27,361 (-13.1%), from €208,690 to €181,329
- Tax, wage and social debts +€25,215
up €25,215 (+267.2%), from €9,435 to €34,651
of which Taxes: +€23,896
- Trade debts -€6,317
down €6,317 (-37.5%), from €16,834 to €10,517
- Gross operating margin +€100,573
up €100,573 (+118.7%), from €84,705 to €185,278
- Taxes +€35,485
up €35,485 (+415.4%), from €8,542 to €44,027
- Staff costs -€15,353
down €15,353 (-99.0%), from €15,503 to €150
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 | €429,618 | €508,520 | +€78,902 | +18.4% |
| Fixed assets | 21/28 | €323,663 | €293,056 | -€30,607 | -9.5% |
| Tangible fixed assets | 22/27 | €323,422 | €292,815 | -€30,607 | -9.5% |
| Land and buildings | 22 | €266,791 | €250,083 | -€16,709 | -6.3% |
| Plant, machinery and equipment | 23 | €12,465 | €10,680 | -€1,785 | -14.3% |
| Furniture and vehicles | 24 | €44,166 | €32,053 | -€12,113 | -27.4% |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €105,956 | €215,465 | +€109,509 | +103.4% |
| Amounts receivable within one year | 40/41 | €35,981 | €10,272 | -€25,710 | -71.5% |
| Trade receivables | 40 | €23,328 | €2,187 | -€21,142 | -90.6% |
| Other amounts receivable | 41 | €12,653 | €8,085 | -€4,568 | -36.1% |
| Current investments | 50/53 | - | €166,127 | +€166,127 | |
| Cash at bank and in hand | 54/58 | €66,464 | €33,292 | -€33,172 | -49.9% |
| Deferred charges and accrued income | 490/1 | €3,510 | €5,774 | +€2,264 | +64.5% |
| Total equity and liabilities | 10/49 | €429,618 | €508,520 | +€78,902 | +18.4% |
| Equity | 10/15 | €129,291 | €173,093 | +€43,802 | +33.9% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €107,700 | €150,700 | +€43,000 | +39.9% |
| Distributable reserves | 133 | €107,700 | €150,700 | +€43,000 | +39.9% |
| Profit (loss) carried forward | 14 | €1,140 | €1,942 | +€802 | +70.3% |
| Amounts payable | 17/49 | €300,327 | €335,428 | +€35,100 | +11.7% |
| Amounts payable after more than one year | 17 | €208,690 | €181,329 | -€27,361 | -13.1% |
| Financial debts | 170/4 | €208,690 | €181,329 | -€27,361 | -13.1% |
| Amounts payable within one year | 42/48 | €91,638 | €154,099 | +€62,461 | +68.2% |
| Current portion of amounts payable after more than one year | 42 | €32,298 | €27,361 | -€4,937 | -15.3% |
| Trade debts | 44 | €16,834 | €10,517 | -€6,317 | -37.5% |
| Suppliers | 440/4 | €16,834 | €10,517 | -€6,317 | -37.5% |
| Taxes, remuneration and social security | 45 | €9,435 | €34,651 | +€25,215 | +267.2% |
| Taxes | 450/3 | €3,439 | €27,336 | +€23,896 | +694.8% |
| Remuneration and social security | 454/9 | €5,996 | €7,315 | +€1,319 | +22.0% |
| Other amounts payable | 47/48 | €33,071 | €81,570 | +€48,500 | +146.7% |
| Non-recurring operating income | 76A | €7,851 | - | -€7,851 | |
| Remuneration, social security and pensions | 62 | €15,503 | €150 | -€15,353 | -99.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,315 | €38,402 | -€913 | -2.3% |
| Other operating charges | 640/8 | €2,145 | €2,100 | -€44 | -2.1% |
| Gross operating margin | 9900 | €84,705 | €185,278 | +€100,573 | +118.7% |
| Operating profit (loss) | 9901 | €27,742 | €144,626 | +€116,885 | +421.3% |
| Financial income | 75/76B | €630 | €455 | -€175 | -27.8% |
| Recurring financial income | 75 | €630 | €455 | -€175 | -27.8% |
| Financial charges | 65/66B | €6,710 | €6,252 | -€458 | -6.8% |
| Recurring financial charges | 65 | €6,710 | €6,252 | -€458 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €21,661 | €138,829 | +€117,168 | +540.9% |
| Income taxes | 67/77 | €8,542 | €44,027 | +€35,485 | +415.4% |
| Profit (loss) for the period | 9904 | €13,119 | €94,802 | +€81,683 | +622.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,119 | €94,802 | +€81,683 | +622.6% |
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 5 October 2026 via checked.be.