IMMO S.E.B.: 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 S.E.B.
Largest movements
- Tangible fixed assets -€38,419
down €38,419 (-4.0%), from €955,981 to €917,562
of which Land and buildings: -€37,394
- Debts after one year -€124,844
down €124,844 (-49.3%), from €253,422 to €128,578
- Other debts +€101,892
up €101,892 (+15324.0%), from €665 to €102,557
- Depreciation +€9,986
up €9,986 (+29.1%), from €34,284 to €44,270
- Financial charges +€6,864
up €6,864 (+261.5%), from €2,625 to €9,490
- Taxes -€2,341
down €2,341 (-35.6%), from €6,570 to €4,229
- Gross operating margin +€2,320
up €2,320 (+5.1%), from €45,863 to €48,183
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 | €1,080,475 | €1,044,693 | -€35,782 | -3.3% |
| Fixed assets | 21/28 | €955,981 | €917,562 | -€38,419 | -4.0% |
| Tangible fixed assets | 22/27 | €955,981 | €917,562 | -€38,419 | -4.0% |
| Land and buildings | 22 | €948,127 | €910,733 | -€37,394 | -3.9% |
| Plant, machinery and equipment | 23 | €7,854 | €6,829 | -€1,025 | -13.0% |
| Current assets | 29/58 | €124,494 | €127,131 | +€2,637 | +2.1% |
| Amounts receivable within one year | 40/41 | €3,097 | €1,771 | -€1,326 | -42.8% |
| Other amounts receivable | 41 | €3,097 | €1,771 | -€1,326 | -42.8% |
| Cash at bank and in hand | 54/58 | €121,109 | €125,056 | +€3,947 | +3.3% |
| Deferred charges and accrued income | 490/1 | €289 | €304 | +€15 | +5.3% |
| Total equity and liabilities | 10/49 | €1,080,475 | €1,044,693 | -€35,782 | -3.3% |
| Equity | 10/15 | €670,965 | €662,913 | -€8,053 | -1.2% |
| 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 | €608,963 | €600,908 | -€8,055 | -1.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €352,388 | €331,648 | -€20,740 | -5.9% |
| Distributable reserves | 133 | €250,375 | €263,060 | +€12,685 | +5.1% |
| Profit (loss) carried forward | 14 | €2 | €5 | +€3 | +109.2% |
| Provisions and deferred taxes | 16 | €129,293 | €121,790 | -€7,503 | -5.8% |
| Deferred taxes | 168 | €129,293 | €121,790 | -€7,503 | -5.8% |
| Amounts payable | 17/49 | €280,217 | €259,991 | -€20,226 | -7.2% |
| Amounts payable after more than one year | 17 | €253,422 | €128,578 | -€124,844 | -49.3% |
| Financial debts | 170/4 | €253,422 | €128,578 | -€124,844 | -49.3% |
| Amounts payable within one year | 42/48 | €26,796 | €131,413 | +€104,618 | +390.4% |
| Current portion of amounts payable after more than one year | 42 | €24,561 | €24,844 | +€283 | +1.2% |
| Trade debts | 44 | - | €304 | +€304 | |
| Suppliers | 440/4 | - | €304 | +€304 | |
| Taxes, remuneration and social security | 45 | €1,570 | €3,708 | +€2,138 | +136.2% |
| Taxes | 450/3 | €1,570 | €3,708 | +€2,138 | +136.2% |
| Other amounts payable | 47/48 | €665 | €102,557 | +€101,892 | +15324.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,284 | €44,270 | +€9,986 | +29.1% |
| Other operating charges | 640/8 | €5,576 | €5,750 | +€173 | +3.1% |
| Gross operating margin | 9900 | €45,863 | €48,183 | +€2,320 | +5.1% |
| Operating profit (loss) | 9901 | €6,002 | -€1,837 | -€7,839 | |
| Financial charges | 65/66B | €2,625 | €9,490 | +€6,864 | +261.5% |
| Recurring financial charges | 65 | €2,625 | €9,490 | +€6,864 | +261.5% |
| Profit (loss) for the period before taxes | 9903 | €3,377 | -€11,327 | -€14,703 | |
| Transfer from deferred taxes | 780 | €6,168 | €7,503 | +€1,335 | +21.6% |
| Income taxes | 67/77 | €6,570 | €4,229 | -€2,341 | -35.6% |
| Profit (loss) for the period | 9904 | €2,975 | -€8,053 | -€11,028 | |
| Transfer from tax-exempt reserves | 789 | €16,735 | €20,740 | +€4,006 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,709 | €12,688 | -€7,022 | -35.6% |
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 30 September 2026 via checked.be.