IMMO SECO: 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 SECO
Largest movements
- Tangible fixed assets -€565,064
down €565,064 (-3.6%), from €15.6m to €15.0m
of which Land and buildings: -€357,045
- Cash -€523,130
down €523,130 (-58.1%), from €900,070 to €376,940
mainly Debts after one year (-€1.3m) and Receivables within one year (-€140,632)
- Debts after one year -€1.3m
down €1.3m (-15.8%), from €8.3m to €7.0m
- Other debts +€298,667
up €298,667 (+110%), from €272,686 to €571,354
- Other operating charges +€270,572
up €270,572 (+2,411%), from €11,223 to €281,795
- Gross operating margin -€165,551
down €165,551 (-13.5%), from €1.2m to €1.1m
- Depreciation -€85,920
down €85,920 (-11.8%), from €725,744 to €639,823
- Financial income -€35,709
down €35,709 (-99.1%), from €36,051 to €342
- Financial charges -€35,619
down €35,619 (-25.8%), from €138,002 to €102,383
of which Financial charges: -€35,568
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 | €16,789,286 | €15,825,549 | -€963,737 | -5.7% |
| Fixed assets | 21/28 | €15,577,062 | €15,011,997 | -€565,064 | -3.6% |
| Tangible fixed assets | 22/27 | €15,566,290 | €15,001,225 | -€565,064 | -3.6% |
| Land and buildings | 22 | €13,813,375 | €13,456,329 | -€357,045 | -2.6% |
| Plant, machinery and equipment | 23 | €33,171 | €0 | -€33,171 | -100% |
| Furniture and vehicles | 24 | €122,736 | €119,785 | -€2,951 | -2.4% |
| Other tangible fixed assets | 26 | €1,597,008 | €1,425,111 | -€171,897 | -10.8% |
| Financial fixed assets | 28 | €10,772 | €10,772 | = | 0.0% |
| Current assets | 29/58 | €1,212,225 | €813,552 | -€398,673 | -32.9% |
| Amounts receivable within one year | 40/41 | €261,613 | €402,245 | +€140,632 | +53.8% |
| Trade receivables | 40 | €186,042 | €119,248 | -€66,793 | -35.9% |
| Other amounts receivable | 41 | €75,571 | €282,996 | +€207,425 | +274% |
| Cash at bank and in hand | 54/58 | €900,070 | €376,940 | -€523,130 | -58.1% |
| Deferred charges and accrued income | 490/1 | €50,542 | €34,367 | -€16,175 | -32.0% |
| Total equity and liabilities | 10/49 | €16,789,286 | €15,825,549 | -€963,737 | -5.7% |
| Equity | 10/15 | €6,554,293 | €6,494,015 | -€60,278 | -0.9% |
| Contributions | 10/11 | €6,000,000 | €6,000,000 | = | 0.0% |
| Capital | 10 | €6,000,000 | €6,000,000 | = | 0.0% |
| Issued capital | 100 | €6,000,000 | €6,000,000 | = | 0.0% |
| Reserves | 13 | €388,339 | €388,339 | = | 0.0% |
| Non-distributable reserves | 130/1 | €388,339 | €388,339 | = | 0.0% |
| Legal reserve | 130 | €388,339 | €388,339 | = | 0.0% |
| Profit (loss) carried forward | 14 | €165,954 | €105,676 | -€60,278 | -36.3% |
| Amounts payable | 17/49 | €10,234,993 | €9,331,534 | -€903,459 | -8.8% |
| Amounts payable after more than one year | 17 | €8,332,917 | €7,017,331 | -€1.3m | -15.8% |
| Financial debts | 170/4 | €8,332,917 | €7,017,331 | -€1.3m | -15.8% |
| Amounts payable within one year | 42/48 | €1,840,286 | €2,255,818 | +€415,532 | +22.6% |
| Current portion of amounts payable after more than one year | 42 | €1,302,123 | €1,315,583 | +€13,460 | +1.0% |
| Trade debts | 44 | €157,318 | €97,261 | -€60,057 | -38.2% |
| Suppliers | 440/4 | €157,318 | €97,261 | -€60,057 | -38.2% |
| Taxes, remuneration and social security | 45 | €108,159 | €271,621 | +€163,462 | +151% |
| Taxes | 450/3 | €108,159 | €271,621 | +€163,462 | +151% |
| Other amounts payable | 47/48 | €272,686 | €571,354 | +€298,667 | +110% |
| Accrued charges and deferred income | 492/3 | €61,791 | €58,385 | -€3,406 | -5.5% |
| Non-recurring operating income | 76A | €10,778 | - | -€10,778 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €725,744 | €639,823 | -€85,920 | -11.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €20,000 | +€20,000 | |
| Other operating charges | 640/8 | €11,223 | €281,795 | +€270,572 | +2,411% |
| Gross operating margin | 9900 | €1,227,810 | €1,062,260 | -€165,551 | -13.5% |
| Operating profit (loss) | 9901 | €490,843 | €120,641 | -€370,202 | -75.4% |
| Financial income | 75/76B | €36,051 | €342 | -€35,709 | -99.1% |
| Recurring financial income | 75 | €36,051 | €342 | -€35,709 | -99.1% |
| Financial charges | 65/66B | €138,002 | €102,383 | -€35,619 | -25.8% |
| Recurring financial charges | 65 | €137,951 | €102,383 | -€35,568 | -25.8% |
| Non-recurring financial charges | 66B | €51 | - | -€51 | |
| Profit (loss) for the period before taxes | 9903 | €388,893 | €18,601 | -€370,292 | -95.2% |
| Income taxes | 67/77 | €101,855 | €78,879 | -€22,976 | -22.6% |
| Profit (loss) for the period | 9904 | €287,038 | -€60,278 | -€347,316 | |
| Profit (loss) for the period to be appropriated | 9905 | €287,038 | -€60,278 | -€347,316 |
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 19 October 2026 via checked.be.