IMMO SED: what changed
Two fiscal 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 SED
Largest movements
- Tangible fixed assets -€20,618
down €20,618 (-2.9%), from €709,722 to €689,104
- Debts after one year -€21,275
down €21,275 (-3.5%), from €603,448 to €582,173
- Gross operating margin +€5,984
up €5,984 (+18.4%), from €32,508 to €38,492
- Financial charges -€521
down €521 (-4.5%), from €11,610 to €11,089
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 | €715,109 | €700,929 | -€14,180 | -2.0% |
| Fixed assets | 21/28 | €709,722 | €689,104 | -€20,618 | -2.9% |
| Tangible fixed assets | 22/27 | €709,722 | €689,104 | -€20,618 | -2.9% |
| Land and buildings | 22 | €709,722 | €689,104 | -€20,618 | -2.9% |
| Current assets | 29/58 | €5,387 | €11,826 | +€6,439 | +119.5% |
| Amounts receivable within one year | 40/41 | €4,750 | €11,368 | +€6,618 | +139.3% |
| Trade receivables | 40 | - | €368 | +€368 | |
| Other amounts receivable | 41 | €4,750 | €11,000 | +€6,250 | +131.6% |
| Cash at bank and in hand | 54/58 | €637 | €458 | -€180 | -28.2% |
| Total equity and liabilities | 10/49 | €715,109 | €700,929 | -€14,180 | -2.0% |
| Equity | 10/15 | -€48,116 | -€41,331 | +€6,784 | +14.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,116 | -€46,331 | +€6,784 | +12.8% |
| Amounts payable | 17/49 | €763,225 | €742,261 | -€20,964 | -2.7% |
| Amounts payable after more than one year | 17 | €603,448 | €582,173 | -€21,275 | -3.5% |
| Financial debts | 170/4 | €603,448 | €582,173 | -€21,275 | -3.5% |
| Amounts payable within one year | 42/48 | €159,777 | €160,088 | +€311 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €23,072 | €23,073 | +€0 | 0.0% |
| Trade debts | 44 | €126 | €436 | +€311 | +247.1% |
| Suppliers | 440/4 | €126 | €436 | +€311 | +247.1% |
| Other amounts payable | 47/48 | €136,579 | €136,579 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,618 | €20,618 | = | 0.0% |
| Other operating charges | 640/8 | €0 | - | = | |
| Gross operating margin | 9900 | €32,508 | €38,492 | +€5,984 | +18.4% |
| Operating profit (loss) | 9901 | €11,890 | €17,873 | +€5,984 | +50.3% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €11,610 | €11,089 | -€521 | -4.5% |
| Recurring financial charges | 65 | €11,610 | €11,089 | -€521 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €280 | €6,784 | +€6,505 | +2324.9% |
| Profit (loss) for the period | 9904 | €280 | €6,784 | +€6,505 | +2324.9% |
| Profit (loss) for the period to be appropriated | 9905 | €280 | €6,784 | +€6,505 | +2324.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.