IMMO SEALINE: 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 SEALINE
Largest movements
- Receivables after one year -€225,000
no longer reported in 2025 (was €225,000)
- Tangible fixed assets +€200,988
up €200,988 (+44.9%), from €447,262 to €648,250
of which Land and buildings: +€205,288
- Receivables within one year +€162,106
up €162,106 (+89.0%), from €182,096 to €344,202
of which Other amounts receivable: +€151,909
- Financial fixed assets +€136,500
up €136,500 (+3,351%), from €4,074 to €140,574
- Cash +€112,943
up €112,943 (+88.9%), from €127,109 to €240,052
mainly Short-term financial debts (+€285,118) and Receivables after one year (+€225,000)
- Short-term financial debts +€285,118
new in 2025: €285,118
- Debts after one year +€83,565
up €83,565 (+19.3%), from €432,934 to €516,498
of which Financial debts: +€104,065
- Trade debts +€62,984
up €62,984 (+159%), from €39,698 to €102,682
- Tax, wage and social debts -€39,886
down €39,886 (-44.9%), from €88,920 to €49,034
of which Taxes: -€42,659
- Reserves -€30,232
down €30,232 (-8.0%), from €376,309 to €346,077
- Staff costs +€21,688
up €21,688 (+19.1%), from €113,766 to €135,454
- Depreciation +€20,329
up €20,329 (+214%), from €9,482 to €29,811
- Gross operating margin -€16,388
down €16,388 (-9.2%), from €177,205 to €160,817
- Taxes -€16,032
down €16,032 (-98.7%), from €16,248 to €216
- Financial charges +€6,602
up €6,602 (+41.7%), from €15,845 to €22,447
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 | €989,672 | €1,376,586 | +€386,913 | +39.1% |
| Fixed assets | 21/28 | €451,336 | €788,824 | +€337,488 | +74.8% |
| Tangible fixed assets | 22/27 | €447,262 | €648,250 | +€200,988 | +44.9% |
| Land and buildings | 22 | €423,657 | €628,946 | +€205,288 | +48.5% |
| Plant, machinery and equipment | 23 | €2,456 | €1,595 | -€861 | -35.0% |
| Furniture and vehicles | 24 | €10,319 | €6,880 | -€3,439 | -33.3% |
| Other tangible fixed assets | 26 | €10,830 | €10,830 | = | 0.0% |
| Financial fixed assets | 28 | €4,074 | €140,574 | +€136,500 | +3,351% |
| Current assets | 29/58 | €538,337 | €587,762 | +€49,425 | +9.2% |
| Amounts receivable after more than one year | 29 | €225,000 | - | -€225,000 | |
| Other amounts receivable | 291 | €225,000 | - | -€225,000 | |
| Amounts receivable within one year | 40/41 | €182,096 | €344,202 | +€162,106 | +89.0% |
| Trade receivables | 40 | €88,575 | €98,771 | +€10,197 | +11.5% |
| Other amounts receivable | 41 | €93,521 | €245,430 | +€151,909 | +162% |
| Cash at bank and in hand | 54/58 | €127,109 | €240,052 | +€112,943 | +88.9% |
| Deferred charges and accrued income | 490/1 | €4,132 | €3,509 | -€624 | -15.1% |
| Total equity and liabilities | 10/49 | €989,672 | €1,376,586 | +€386,913 | +39.1% |
| Equity | 10/15 | €394,909 | €364,677 | -€30,232 | -7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €376,309 | €346,077 | -€30,232 | -8.0% |
| Distributable reserves | 133 | €376,309 | €346,077 | -€30,232 | -8.0% |
| Amounts payable | 17/49 | €594,763 | €1,011,909 | +€417,145 | +70.1% |
| Amounts payable after more than one year | 17 | €432,934 | €516,498 | +€83,565 | +19.3% |
| Financial debts | 170/4 | €325,940 | €430,005 | +€104,065 | +31.9% |
| Other amounts payable | 178/9 | €106,994 | €86,494 | -€20,500 | -19.2% |
| Amounts payable within one year | 42/48 | €159,901 | €495,410 | +€335,510 | +210% |
| Current portion of amounts payable after more than one year | 42 | €13,894 | €42,560 | +€28,666 | +206% |
| Financial debts | 43 | - | €285,118 | +€285,118 | |
| Credit institutions | 430/8 | - | €285,118 | +€285,118 | |
| Trade debts | 44 | €39,698 | €102,682 | +€62,984 | +159% |
| Suppliers | 440/4 | €39,698 | €102,682 | +€62,984 | +159% |
| Taxes, remuneration and social security | 45 | €88,920 | €49,034 | -€39,886 | -44.9% |
| Taxes | 450/3 | €70,943 | €28,284 | -€42,659 | -60.1% |
| Remuneration and social security | 454/9 | €17,977 | €20,750 | +€2,773 | +15.4% |
| Other amounts payable | 47/48 | €17,389 | €16,016 | -€1,373 | -7.9% |
| Accrued charges and deferred income | 492/3 | €1,929 | - | -€1,929 | |
| Remuneration, social security and pensions | 62 | €113,766 | €135,454 | +€21,688 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,482 | €29,811 | +€20,329 | +214% |
| Other operating charges | 640/8 | €3,651 | €3,246 | -€405 | -11.1% |
| Gross operating margin | 9900 | €177,205 | €160,817 | -€16,388 | -9.2% |
| Operating profit (loss) | 9901 | €50,306 | -€7,694 | -€58,000 | |
| Financial income | 75/76B | €172 | €125 | -€48 | -27.7% |
| Recurring financial income | 75 | €172 | €125 | -€48 | -27.7% |
| Financial charges | 65/66B | €15,845 | €22,447 | +€6,602 | +41.7% |
| Recurring financial charges | 65 | €15,845 | €22,447 | +€6,602 | +41.7% |
| Profit (loss) for the period before taxes | 9903 | €34,633 | -€30,017 | -€64,650 | |
| Income taxes | 67/77 | €16,248 | €216 | -€16,032 | -98.7% |
| Profit (loss) for the period | 9904 | €18,386 | -€30,232 | -€48,618 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,386 | -€30,232 | -€48,618 |
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 15 October 2026 via checked.be.