IMMO-RENAITRA: 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.
What changed
IMMO-RENAITRA
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€180,754
2024 · -€32,908-€147,847
Equity
€133,707
2024 · €314,461-€180,754
Cash
€161,915
2024 · €268,402-€106,487
Balance sheet total
€2.7m
2024 · €2.9m-€203,637
Largest movements
Assets
- Tangible fixed assets -€107,006
down €107,006 (-4.1%), from €2.6m to €2.5m
of which Land and buildings: -€102,456
- Cash -€106,487
down €106,487 (-39.7%), from €268,402 to €161,915
mainly Net result for the year (-€180,754) and Investment in fixed assets (net) (-€26,486)
Equity and liabilities
- Profit (loss) carried forward -€176,361
down €176,361, from €33,849 to -€142,512
Income statement
- Gross operating margin -€146,871
down €146,871 (-60.5%), from €242,682 to €95,811
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.
Result 2024
-€32,908
Gross operating margin
-€146,871
Staff costs
+€1,639
Depreciation
-€462
Other operating charges
-€2,176
Financial income
+€33
Financial charges
-€9
Result 2025
-€180,754
raises the resultlowers the result
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.
From operations
-€80,002
Investment
-€26,486
Financing
€0
Cash 2024
€268,402
From operations (derived)
-€80,002
Net result for the year
-€180,754
Depreciation
+€133,492
Receivables within one year
-€4,692
Deferred charges and accrued income
-€5,165
Provisions
-€2,262
Trade debts
+€4,552
Tax, wage and social debts
-€1,868
Other debts
-€24,081
Accrued charges and deferred income
+€776
Investment (derived)
-€26,486
Investment in fixed assets (net)
-€26,486
Cash 2025
€161,915
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,929,542 | €2,725,906 | -€203,637 | -7.0% |
| Fixed assets | 21/28 | €2,638,907 | €2,531,901 | -€107,006 | -4.1% |
| Tangible fixed assets | 22/27 | €2,625,815 | €2,518,809 | -€107,006 | -4.1% |
| Land and buildings | 22 | €2,615,828 | €2,513,372 | -€102,456 | -3.9% |
| Plant, machinery and equipment | 23 | €8,841 | €4,864 | -€3,977 | -45.0% |
| Furniture and vehicles | 24 | €1,146 | €573 | -€573 | -50.0% |
| Financial fixed assets | 28 | €13,092 | €13,092 | = | 0.0% |
| Current assets | 29/58 | €290,636 | €194,005 | -€96,631 | -33.2% |
| Amounts receivable within one year | 40/41 | €7,143 | €11,835 | +€4,692 | +65.7% |
| Trade receivables | 40 | €7,143 | €4,631 | -€2,512 | -35.2% |
| Other amounts receivable | 41 | - | €7,204 | +€7,204 | |
| Cash at bank and in hand | 54/58 | €268,402 | €161,915 | -€106,487 | -39.7% |
| Deferred charges and accrued income | 490/1 | €15,091 | €20,255 | +€5,165 | +34.2% |
| Total equity and liabilities | 10/49 | €2,929,542 | €2,725,906 | -€203,637 | -7.0% |
| Equity | 10/15 | €314,461 | €133,707 | -€180,754 | -57.5% |
| Contributions | 10/11 | €84,284 | €84,284 | = | 0.0% |
| Capital | 10 | €84,284 | €84,284 | = | 0.0% |
| Issued capital | 100 | €84,284 | €84,284 | = | 0.0% |
| Reserves | 13 | €196,328 | €191,934 | -€4,393 | -2.2% |
| Non-distributable reserves | 130/1 | €8,428 | €8,428 | = | 0.0% |
| Legal reserve | 130 | €8,428 | €8,428 | = | 0.0% |
| Tax-exempt reserves | 132 | €65,876 | €61,482 | -€4,393 | -6.7% |
| Distributable reserves | 133 | €122,024 | €122,024 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,849 | -€142,512 | -€176,361 | |
| Provisions and deferred taxes | 16 | €33,921 | €31,658 | -€2,262 | -6.7% |
| Deferred taxes | 168 | €33,921 | €31,658 | -€2,262 | -6.7% |
| Amounts payable | 17/49 | €2,581,161 | €2,560,541 | -€20,620 | -0.8% |
| Amounts payable within one year | 42/48 | €2,581,161 | €2,559,764 | -€21,397 | -0.8% |
| Trade debts | 44 | €27,705 | €32,257 | +€4,552 | +16.4% |
| Suppliers | 440/4 | €27,705 | €32,257 | +€4,552 | +16.4% |
| Taxes, remuneration and social security | 45 | €12,267 | €10,399 | -€1,868 | -15.2% |
| Taxes | 450/3 | €1,459 | €510 | -€949 | -65.0% |
| Remuneration and social security | 454/9 | €10,809 | €9,889 | -€920 | -8.5% |
| Other amounts payable | 47/48 | €2,541,189 | €2,517,108 | -€24,081 | -0.9% |
| Accrued charges and deferred income | 492/3 | - | €776 | +€776 | |
| Non-recurring operating income | 76A | €163,078 | €0 | -€163,078 | -100% |
| Remuneration, social security and pensions | 62 | €124,349 | €122,711 | -€1,639 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,029 | €133,492 | +€462 | +0.3% |
| Other operating charges | 640/8 | €19,777 | €21,953 | +€2,176 | +11.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €242,682 | €95,811 | -€146,871 | -60.5% |
| Operating profit (loss) | 9901 | -€34,474 | -€182,345 | -€147,871 | -429% |
| Financial income | 75/76B | €0 | €33 | +€33 | +33,010% |
| Recurring financial income | 75 | €0 | €33 | +€33 | +33,010% |
| Financial charges | 65/66B | €696 | €705 | +€9 | +1.3% |
| Recurring financial charges | 65 | €696 | €705 | +€9 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | -€35,170 | -€183,017 | -€147,847 | -420% |
| Transfer from deferred taxes | 780 | €2,262 | €2,262 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€32,908 | -€180,754 | -€147,847 | -449% |
| Transfer from tax-exempt reserves | 789 | €4,393 | €4,393 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,514 | -€176,361 | -€147,847 | -519% |
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 21 October 2026 via checked.be.