IMMO ROMAIN II: 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 ROMAIN II
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
€338,280
2024 · €12,160+€326,121
Equity
€22.0m
2024 · €3.5m+€18.5m
Cash
€22,143
2024 · €51,875-€29,732
Balance sheet total
€43.8m
2024 · €23.1m+€20.7m
Largest movements
Assets
- Tangible fixed assets +€10.1m
up €10.1m (+101%), from €10.0m to €20.0m
of which Land and buildings: +€10.2m
- Financial fixed assets +€8.3m
up €8.3m (+76.0%), from €11.0m to €19.3m
- Current investments +€1.3m
new in 2025: €1.3m
- Receivables within one year +€1.1m
up €1.1m (+51.7%), from €2.1m to €3.1m
of which Other amounts receivable: +€1.1m
Equity and liabilities
- Revaluation surpluses +€18.2m
new in 2025: €18.2m
- Debts after one year +€1.9m
up €1.9m (+14.0%), from €13.4m to €15.2m
Income statement
- Depreciation -€342,543
down €342,543 (-37.9%), from €903,674 to €561,131
- Financial charges -€262,976
down €262,976 (-46.9%), from €560,455 to €297,479
- Gross operating margin -€145,280
down €145,280 (-9.1%), from €1.6m to €1.5m
- Other operating charges -€44,691
down €44,691 (-40.8%), from €109,477 to €64,786
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
€12,160
Gross operating margin
-€145,280
Staff costs
-€13,218
Depreciation
+€342,543
Other operating charges
+€44,691
Financial income
-€3,902
Financial charges
+€262,976
Taxes
+€817
Deferred taxes and other
-€162,506
Result 2025
€338,280
raises the resultlowers the resultnot broken down further in the accounts
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
+€99,734
Investment
-€20.2m
Financing
+€20.1m
Cash 2024
€51,875
From operations (derived)
+€99,734
Net result for the year
+€338,280
Depreciation
+€561,131
Receivables within one year
-€1.1m
Smaller working-capital items
-€22,377
Provisions
+€126,572
Other debts
+€162,957
Investment (derived)
-€20.2m
Investment in fixed assets (net)
-€18.9m
Current investments
-€1.3m
Financing
+€20.1m
Debts after one year
+€1.9m
Current portion of long-term debt
+€31,399
Contributions, distributions and other
+€18.2m
Cash 2025
€22,143
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,094,512 | €43,782,912 | +€20.7m | +89.6% |
| Fixed assets | 21/28 | €20,956,631 | €39,343,309 | +€18.4m | +87.7% |
| Tangible fixed assets | 22/27 | €9,992,666 | €20,043,051 | +€10.1m | +101% |
| Land and buildings | 22 | €9,317,868 | €19,548,570 | +€10.2m | +110% |
| Plant, machinery and equipment | 23 | €2,340 | €3,788 | +€1,448 | +61.9% |
| Furniture and vehicles | 24 | €10,311 | €8,560 | -€1,751 | -17.0% |
| Other tangible fixed assets | 26 | €662,148 | €482,134 | -€180,014 | -27.2% |
| Financial fixed assets | 28 | €10,963,966 | €19,300,258 | +€8.3m | +76.0% |
| Current assets | 29/58 | €2,137,881 | €4,439,603 | +€2.3m | +108% |
| Amounts receivable within one year | 40/41 | €2,064,046 | €3,130,876 | +€1.1m | +51.7% |
| Trade receivables | 40 | €3,648 | €3,648 | = | 0.0% |
| Other amounts receivable | 41 | €2,060,399 | €3,127,228 | +€1.1m | +51.8% |
| Current investments | 50/53 | - | €1,250,000 | +€1.3m | |
| Cash at bank and in hand | 54/58 | €51,875 | €22,143 | -€29,732 | -57.3% |
| Deferred charges and accrued income | 490/1 | €21,959 | €36,584 | +€14,625 | +66.6% |
| Total equity and liabilities | 10/49 | €23,094,512 | €43,782,912 | +€20.7m | +89.6% |
| Equity | 10/15 | €3,475,254 | €21,977,812 | +€18.5m | +532% |
| Contributions | 10/11 | €2,524,360 | €2,524,360 | = | 0.0% |
| Revaluation surpluses | 12 | - | €18,164,277 | +€18.2m | |
| Reserves | 13 | €1,050,772 | €1,430,487 | +€379,715 | +36.1% |
| Tax-exempt reserves | 132 | €1,050,772 | €1,430,487 | +€379,715 | +36.1% |
| Profit (loss) carried forward | 14 | -€99,878 | -€141,313 | -€41,435 | -41.5% |
| Provisions and deferred taxes | 16 | €350,257 | €476,829 | +€126,572 | +36.1% |
| Deferred taxes | 168 | €350,257 | €476,829 | +€126,572 | +36.1% |
| Amounts payable | 17/49 | €19,269,001 | €21,328,272 | +€2.1m | +10.7% |
| Amounts payable after more than one year | 17 | €13,359,481 | €15,232,148 | +€1.9m | +14.0% |
| Financial debts | 170/4 | €13,359,481 | €15,232,148 | +€1.9m | +14.0% |
| Amounts payable within one year | 42/48 | €5,832,482 | €6,044,796 | +€212,313 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €408,946 | €440,345 | +€31,399 | +7.7% |
| Trade debts | 44 | €21,379 | €37,772 | +€16,393 | +76.7% |
| Suppliers | 440/4 | €21,379 | €37,772 | +€16,393 | +76.7% |
| Taxes, remuneration and social security | 45 | €1,799 | €3,364 | +€1,565 | +87.0% |
| Taxes | 450/3 | €1,799 | €3,364 | +€1,565 | +87.0% |
| Other amounts payable | 47/48 | €5,400,358 | €5,563,315 | +€162,957 | +3.0% |
| Accrued charges and deferred income | 492/3 | €77,038 | €51,328 | -€25,710 | -33.4% |
| Non-recurring operating income | 76A | €102,183 | €679,216 | +€577,033 | +565% |
| Remuneration, social security and pensions | 62 | €49,691 | €62,909 | +€13,218 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €903,674 | €561,131 | -€342,543 | -37.9% |
| Other operating charges | 640/8 | €109,477 | €64,786 | -€44,691 | -40.8% |
| Gross operating margin | 9900 | €1,598,001 | €1,452,721 | -€145,280 | -9.1% |
| Operating profit (loss) | 9901 | €535,158 | €763,894 | +€228,736 | +42.7% |
| Financial income | 75/76B | €3,903 | €2 | -€3,902 | -100.0% |
| Recurring financial income | 75 | €3,903 | €2 | -€3,902 | -100.0% |
| Financial charges | 65/66B | €560,455 | €297,479 | -€262,976 | -46.9% |
| Recurring financial charges | 65 | €560,455 | €297,479 | -€262,976 | -46.9% |
| Profit (loss) for the period before taxes | 9903 | -€21,393 | €466,417 | +€487,810 | |
| Transfer from deferred taxes | 780 | €35,934 | €24,576 | -€11,358 | -31.6% |
| Transfer to deferred taxes | 680 | - | €151,148 | +€151,148 | |
| Income taxes | 67/77 | €2,381 | €1,565 | -€817 | -34.3% |
| Profit (loss) for the period | 9904 | €12,160 | €338,280 | +€326,121 | +2,682% |
| Transfer from tax-exempt reserves | 789 | €107,803 | €73,728 | -€34,075 | -31.6% |
| Transfer to tax-exempt reserves | 689 | - | €453,443 | +€453,443 | |
| Profit (loss) for the period to be appropriated | 9905 | €119,963 | -€41,435 | -€161,398 |
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 30 October 2026 via checked.be.