Immo Schildermans: 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 Schildermans
Largest movements
- Tangible fixed assets +€53,052
up €53,052 (+3.4%), from €1.6m to €1.6m
of which Land and buildings: +€53,585
- Cash +€28,764
up €28,764 (+36.0%), from €79,881 to €108,645
mainly Depreciation (+€124,904) and Debts after one year (+€74,939)
- Debts after one year +€74,939
up €74,939 (+8.0%), from €941,805 to €1.0m
of which Financial debts: +€42,189
- Other debts -€56,255
down €56,255 (-56.9%), from €98,835 to €42,580
- Reserves +€54,263
up €54,263 (+12.8%), from €424,678 to €478,941
of which Distributable reserves: +€57,544
- Trade debts +€17,915
up €17,915 (+4,077%), from €439 to €18,354
- Gross operating margin +€23,829
up €23,829 (+10.8%), from €220,035 to €243,864
- Financial charges +€4,736
up €4,736 (+12.0%), from €39,485 to €44,221
- Taxes -€4,288
down €4,288 (-36.3%), from €11,825 to €7,536
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 | €1,681,013 | €1,768,132 | +€87,119 | +5.2% |
| Fixed assets | 21/28 | €1,568,928 | €1,621,981 | +€53,052 | +3.4% |
| Tangible fixed assets | 22/27 | €1,567,416 | €1,620,468 | +€53,052 | +3.4% |
| Land and buildings | 22 | €1,565,898 | €1,619,483 | +€53,585 | +3.4% |
| Furniture and vehicles | 24 | - | €986 | +€986 | |
| Leasing and similar rights | 25 | €1,518 | - | -€1,518 | |
| Financial fixed assets | 28 | €1,513 | €1,513 | = | 0.0% |
| Current assets | 29/58 | €112,085 | €146,151 | +€34,067 | +30.4% |
| Amounts receivable within one year | 40/41 | €32,204 | €37,506 | +€5,303 | +16.5% |
| Trade receivables | 40 | €29,029 | €20,006 | -€9,022 | -31.1% |
| Other amounts receivable | 41 | €3,175 | €17,500 | +€14,325 | +451% |
| Cash at bank and in hand | 54/58 | €79,881 | €108,645 | +€28,764 | +36.0% |
| Total equity and liabilities | 10/49 | €1,681,013 | €1,768,132 | +€87,119 | +5.2% |
| Equity | 10/15 | €536,637 | €590,900 | +€54,263 | +10.1% |
| Contributions | 10/11 | €81,208 | €81,208 | = | 0.0% |
| Revaluation surpluses | 12 | €30,751 | €30,751 | = | 0.0% |
| Reserves | 13 | €424,678 | €478,941 | +€54,263 | +12.8% |
| Tax-exempt reserves | 132 | €20,850 | €17,569 | -€3,281 | -15.7% |
| Distributable reserves | 133 | €403,828 | €461,372 | +€57,544 | +14.2% |
| Provisions and deferred taxes | 16 | €33,320 | €28,077 | -€5,243 | -15.7% |
| Deferred taxes | 168 | €33,320 | €28,077 | -€5,243 | -15.7% |
| Amounts payable | 17/49 | €1,111,056 | €1,149,155 | +€38,099 | +3.4% |
| Amounts payable after more than one year | 17 | €941,805 | €1,016,743 | +€74,939 | +8.0% |
| Financial debts | 170/4 | €471,805 | €513,993 | +€42,189 | +8.9% |
| Other amounts payable | 178/9 | €470,000 | €502,750 | +€32,750 | +7.0% |
| Amounts payable within one year | 42/48 | €168,001 | €131,162 | -€36,839 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €63,361 | €56,259 | -€7,101 | -11.2% |
| Trade debts | 44 | €439 | €18,354 | +€17,915 | +4,077% |
| Suppliers | 440/4 | €439 | €18,354 | +€17,915 | +4,077% |
| Taxes, remuneration and social security | 45 | €5,365 | €13,968 | +€8,603 | +160% |
| Taxes | 450/3 | €5,365 | €13,968 | +€8,603 | +160% |
| Other amounts payable | 47/48 | €98,835 | €42,580 | -€56,255 | -56.9% |
| Accrued charges and deferred income | 492/3 | €1,250 | €1,250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,872 | €124,904 | -€968 | -0.8% |
| Other operating charges | 640/8 | €17,896 | €18,183 | +€288 | +1.6% |
| Gross operating margin | 9900 | €220,035 | €243,864 | +€23,829 | +10.8% |
| Operating profit (loss) | 9901 | €76,267 | €100,777 | +€24,510 | +32.1% |
| Financial charges | 65/66B | €39,485 | €44,221 | +€4,736 | +12.0% |
| Recurring financial charges | 65 | €39,485 | €44,221 | +€4,736 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | €36,782 | €56,556 | +€19,774 | +53.8% |
| Transfer from deferred taxes | 780 | €5,243 | €5,243 | +€0 | 0.0% |
| Income taxes | 67/77 | €11,825 | €7,536 | -€4,288 | -36.3% |
| Profit (loss) for the period | 9904 | €30,201 | €54,263 | +€24,062 | +79.7% |
| Transfer from tax-exempt reserves | 789 | €3,281 | €3,281 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,482 | €57,544 | +€24,062 | +71.9% |
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 28 October 2026 via checked.be.