IMMO SAPI: 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 SAPI
Largest movements
- Tangible fixed assets +€906,014
up €906,014 (+99.9%), from €906,714 to €1.8m
- Receivables within one year +€63,650
up €63,650 (+114.5%), from €55,576 to €119,225
- Profit (loss) carried forward +€1.2m
up €1.2m, from -€136,382 to €1.0m
- Tax, wage and social debts +€357,735
new in 2025: €357,735
- Debts after one year -€307,500
no longer reported in 2025 (was €307,500)
- Other debts -€264,526
down €264,526 (-36.1%), from €733,449 to €468,923
- Trade debts +€44,991
up €44,991 (+3697.2%), from €1,217 to €46,208
- Gross operating margin +€1.7m
up €1.7m (+2533.1%), from €67,340 to €1.8m
- Taxes +€357,735
new in 2025: €357,735
- Depreciation +€167,686
up €167,686 (+317.0%), from €52,895 to €220,581
- Financial charges -€19,114
down €19,114 (-75.1%), from €25,451 to €6,337
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 | €962,906 | €1,931,955 | +€969,049 | +100.6% |
| Fixed assets | 21/28 | €906,714 | €1,812,727 | +€906,014 | +99.9% |
| Tangible fixed assets | 22/27 | €906,714 | €1,812,727 | +€906,014 | +99.9% |
| Land and buildings | 22 | €906,714 | €1,812,727 | +€906,014 | +99.9% |
| Current assets | 29/58 | €56,193 | €119,227 | +€63,035 | +112.2% |
| Amounts receivable within one year | 40/41 | €55,576 | €119,225 | +€63,650 | +114.5% |
| Other amounts receivable | 41 | €55,576 | €119,225 | +€63,650 | +114.5% |
| Current investments | 50/53 | €617 | - | -€617 | |
| Cash at bank and in hand | 54/58 | - | €2 | +€2 | |
| Total equity and liabilities | 10/49 | €962,906 | €1,931,955 | +€969,049 | +100.6% |
| Equity | 10/15 | -€115,977 | €1,059,088 | +€1.2m | |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€136,382 | €1,038,683 | +€1.2m | |
| Amounts payable | 17/49 | €1,078,883 | €872,866 | -€206,017 | -19.1% |
| Amounts payable after more than one year | 17 | €307,500 | - | -€307,500 | |
| Financial debts | 170/4 | €307,500 | - | -€307,500 | |
| Amounts payable within one year | 42/48 | €771,383 | €872,866 | +€101,483 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | - | -€30,000 | |
| Financial debts | 43 | €6,717 | - | -€6,717 | |
| Credit institutions | 430/8 | €6,717 | - | -€6,717 | |
| Trade debts | 44 | €1,217 | €46,208 | +€44,991 | +3697.2% |
| Suppliers | 440/4 | €1,217 | €46,208 | +€44,991 | +3697.2% |
| Taxes, remuneration and social security | 45 | - | €357,735 | +€357,735 | |
| Taxes | 450/3 | - | €357,735 | +€357,735 | |
| Other amounts payable | 47/48 | €733,449 | €468,923 | -€264,526 | -36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,895 | €220,581 | +€167,686 | +317.0% |
| Other operating charges | 640/8 | €12,279 | €13,381 | +€1,102 | +9.0% |
| Gross operating margin | 9900 | €67,340 | €1,773,100 | +€1.7m | +2533.1% |
| Operating profit (loss) | 9901 | €2,166 | €1,539,138 | +€1.5m | +70943.3% |
| Financial charges | 65/66B | €25,451 | €6,337 | -€19,114 | -75.1% |
| Recurring financial charges | 65 | €25,451 | €6,337 | -€19,114 | -75.1% |
| Profit (loss) for the period before taxes | 9903 | -€23,284 | €1,532,801 | +€1.6m | |
| Income taxes | 67/77 | - | €357,735 | +€357,735 | |
| Profit (loss) for the period | 9904 | -€23,284 | €1,175,065 | +€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,284 | €1,175,065 | +€1.2m |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.