IMMO RHEMA: 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 RHEMA
Largest movements
- Tangible fixed assets -€181,651
down €181,651 (-12.0%), from €1.5m to €1.3m
- Debts after one year -€81,144
down €81,144 (-12.7%), from €637,269 to €556,125
- Profit (loss) carried forward -€69,211
down €69,211, from €2,484 to -€66,727
- Trade debts -€49,807
down €49,807 (-46.2%), from €107,751 to €57,944
- Tax, wage and social debts +€49,807
new in 2025: €49,807
- Current portion of long-term debt -€32,764
down €32,764 (-28.8%), from €113,908 to €81,144
- Depreciation +€122,456
up €122,456 (+207%), from €59,195 to €181,651
- Other operating charges -€46,659
down €46,659 (-99.9%), from €46,691 to €32
- Taxes -€35,818
no longer reported in 2025 (was €35,818)
- Gross operating margin +€32,623
up €32,623 (+35.6%), from €91,650 to €124,273
- Financial charges +€5,404
up €5,404 (+84.5%), from €6,397 to €11,801
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 | €1,512,532 | €1,330,837 | -€181,695 | -12.0% |
| Fixed assets | 21/28 | €1,512,437 | €1,330,786 | -€181,651 | -12.0% |
| Tangible fixed assets | 22/27 | €1,512,437 | €1,330,786 | -€181,651 | -12.0% |
| Land and buildings | 22 | €1,512,437 | €1,330,786 | -€181,651 | -12.0% |
| Current assets | 29/58 | €95 | €51 | -€44 | -46.3% |
| Cash at bank and in hand | 54/58 | €95 | €51 | -€44 | -46.3% |
| Total equity and liabilities | 10/49 | €1,512,532 | €1,330,837 | -€181,695 | -12.0% |
| Equity | 10/15 | €652,484 | €583,273 | -€69,211 | -10.6% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Capital | 10 | €650,000 | - | -€650,000 | |
| Issued capital | 100 | €650,000 | - | -€650,000 | |
| Profit (loss) carried forward | 14 | €2,484 | -€66,727 | -€69,211 | |
| Amounts payable | 17/49 | €860,048 | €747,564 | -€112,484 | -13.1% |
| Amounts payable after more than one year | 17 | €637,269 | €556,125 | -€81,144 | -12.7% |
| Financial debts | 170/4 | €637,269 | €556,125 | -€81,144 | -12.7% |
| Amounts payable within one year | 42/48 | €222,779 | €191,439 | -€31,340 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €113,908 | €81,144 | -€32,764 | -28.8% |
| Trade debts | 44 | €107,751 | €57,944 | -€49,807 | -46.2% |
| Suppliers | 440/4 | €107,751 | €57,944 | -€49,807 | -46.2% |
| Taxes, remuneration and social security | 45 | - | €49,807 | +€49,807 | |
| Taxes | 450/3 | - | €49,807 | +€49,807 | |
| Other amounts payable | 47/48 | €1,120 | €2,544 | +€1,424 | +127% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,195 | €181,651 | +€122,456 | +207% |
| Other operating charges | 640/8 | €46,691 | €32 | -€46,659 | -99.9% |
| Gross operating margin | 9900 | €91,650 | €124,273 | +€32,623 | +35.6% |
| Operating profit (loss) | 9901 | -€14,236 | -€57,410 | -€43,174 | -303% |
| Financial charges | 65/66B | €6,397 | €11,801 | +€5,404 | +84.5% |
| Recurring financial charges | 65 | €6,397 | €11,801 | +€5,404 | +84.5% |
| Profit (loss) for the period before taxes | 9903 | -€20,633 | -€69,211 | -€48,578 | -235% |
| Income taxes | 67/77 | €35,818 | - | -€35,818 | |
| Profit (loss) for the period | 9904 | -€56,451 | -€69,211 | -€12,760 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,451 | -€69,211 | -€12,760 | -22.6% |
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 24 October 2026 via checked.be.