IMMO S.T.P.: 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 S.T.P.
Largest movements
- Tangible fixed assets +€692,096
up €692,096 (+36.5%), from €1.9m to €2.6m
of which Land and buildings: +€693,696
- Cash -€351,704
down €351,704 (-61.6%), from €570,631 to €218,927
mainly Investment in fixed assets (net) (-€806,400) and Current investments (-€61,792)
- Current investments +€61,792
up €61,792 (+31.2%), from €197,837 to €259,628
- Debts after one year +€317,055
up €317,055 (+35.4%), from €896,042 to €1.2m
- Reserves +€66,064
up €66,064 (+5.4%), from €1.2m to €1.3m
of which Distributable reserves: +€66,064
- Depreciation +€55,890
up €55,890 (+95.7%), from €58,414 to €114,304
- Gross operating margin +€44,210
up €44,210 (+16.8%), from €262,812 to €307,022
- Write-downs +€8,323
no longer reported in 2025 (was -€8,323)
- Other operating charges -€6,182
down €6,182 (-15.4%), from €40,215 to €34,033
- Taxes -€4,055
down €4,055 (-11.0%), from €37,016 to €32,961
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 | €2,682,265 | €3,096,821 | +€414,556 | +15.5% |
| Fixed assets | 21/28 | €1,898,650 | €2,590,746 | +€692,096 | +36.5% |
| Tangible fixed assets | 22/27 | €1,896,314 | €2,588,409 | +€692,096 | +36.5% |
| Land and buildings | 22 | €1,892,847 | €2,586,543 | +€693,696 | +36.6% |
| Furniture and vehicles | 24 | €3,467 | €1,867 | -€1,600 | -46.2% |
| Financial fixed assets | 28 | €2,337 | €2,337 | = | 0.0% |
| Current assets | 29/58 | €783,615 | €506,075 | -€277,540 | -35.4% |
| Amounts receivable within one year | 40/41 | €10,007 | €22,176 | +€12,168 | +122% |
| Trade receivables | 40 | €10,007 | €14,368 | +€4,361 | +43.6% |
| Other amounts receivable | 41 | - | €7,807 | +€7,807 | |
| Current investments | 50/53 | €197,837 | €259,628 | +€61,792 | +31.2% |
| Cash at bank and in hand | 54/58 | €570,631 | €218,927 | -€351,704 | -61.6% |
| Deferred charges and accrued income | 490/1 | €5,140 | €5,344 | +€204 | +4.0% |
| Total equity and liabilities | 10/49 | €2,682,265 | €3,096,821 | +€414,556 | +15.5% |
| Equity | 10/15 | €1,554,425 | €1,620,489 | +€66,064 | +4.3% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Revaluation surpluses | 12 | €74,502 | €74,502 | = | 0.0% |
| Reserves | 13 | €1,229,924 | €1,295,988 | +€66,064 | +5.4% |
| Non-distributable reserves | 130/1 | €32,400 | €32,400 | = | 0.0% |
| Legal reserve | 130 | €32,400 | €32,400 | = | 0.0% |
| Distributable reserves | 133 | €1,197,524 | €1,263,588 | +€66,064 | +5.5% |
| Amounts payable | 17/49 | €1,127,840 | €1,476,332 | +€348,492 | +30.9% |
| Amounts payable after more than one year | 17 | €896,042 | €1,213,096 | +€317,055 | +35.4% |
| Financial debts | 170/4 | €896,042 | €1,213,096 | +€317,055 | +35.4% |
| Amounts payable within one year | 42/48 | €231,798 | €263,235 | +€31,437 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €166,292 | €194,201 | +€27,909 | +16.8% |
| Trade debts | 44 | €3,197 | €4,860 | +€1,663 | +52.0% |
| Suppliers | 440/4 | €3,197 | €4,860 | +€1,663 | +52.0% |
| Taxes, remuneration and social security | 45 | €5,967 | €3,794 | -€2,173 | -36.4% |
| Taxes | 450/3 | €5,967 | €3,794 | -€2,173 | -36.4% |
| Other amounts payable | 47/48 | €56,342 | €60,380 | +€4,038 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,414 | €114,304 | +€55,890 | +95.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€8,323 | - | +€8,323 | |
| Other operating charges | 640/8 | €40,215 | €34,033 | -€6,182 | -15.4% |
| Gross operating margin | 9900 | €262,812 | €307,022 | +€44,210 | +16.8% |
| Operating profit (loss) | 9901 | €172,506 | €158,685 | -€13,821 | -8.0% |
| Financial income | 75/76B | €9,917 | €9,859 | -€58 | -0.6% |
| Recurring financial income | 75 | €9,917 | €9,859 | -€58 | -0.6% |
| Financial charges | 65/66B | €22,988 | €21,519 | -€1,469 | -6.4% |
| Recurring financial charges | 65 | €22,988 | €21,519 | -€1,469 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €159,435 | €147,025 | -€12,409 | -7.8% |
| Income taxes | 67/77 | €37,016 | €32,961 | -€4,055 | -11.0% |
| Profit (loss) for the period | 9904 | €122,418 | €114,064 | -€8,354 | -6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €122,418 | €114,064 | -€8,354 | -6.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.