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
- Cash -€156,317
down €156,317 (-68.8%), from €227,298 to €70,981
mainly Current investments (-€148,000) and Other debts (-€48,281)
- Current investments +€148,000
new in 2025: €148,000
- Tangible fixed assets -€35,829
down €35,829 (-3.6%), from €994,713 to €958,884
- Other debts -€48,281
down €48,281 (-6.7%), from €723,089 to €674,808
- Reserves +€16,580
up €16,580 (+5.2%), from €316,997 to €333,577
- Financial income -€47,648
down €47,648 (-96.0%), from €49,653 to €2,005
- Gross operating margin -€36,936
down €36,936 (-19.9%), from €185,901 to €148,965
- Taxes -€27,231
down €27,231 (-76.3%), from €35,693 to €8,462
- Depreciation +€3,848
up €3,848 (+5.3%), from €72,703 to €76,551
- Financial charges +€3,607
up €3,607 (+16.4%), from €22,059 to €25,666
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 | €1,223,482 | €1,181,492 | -€41,989 | -3.4% |
| Fixed assets | 21/28 | €994,713 | €958,884 | -€35,829 | -3.6% |
| Tangible fixed assets | 22/27 | €994,713 | €958,884 | -€35,829 | -3.6% |
| Land and buildings | 22 | €994,713 | €958,884 | -€35,829 | -3.6% |
| Current assets | 29/58 | €228,769 | €222,608 | -€6,161 | -2.7% |
| Amounts receivable within one year | 40/41 | - | €2,139 | +€2,139 | |
| Other amounts receivable | 41 | - | €2,139 | +€2,139 | |
| Current investments | 50/53 | - | €148,000 | +€148,000 | |
| Cash at bank and in hand | 54/58 | €227,298 | €70,981 | -€156,317 | -68.8% |
| Deferred charges and accrued income | 490/1 | €1,471 | €1,488 | +€17 | +1.2% |
| Total equity and liabilities | 10/49 | €1,223,482 | €1,181,492 | -€41,989 | -3.4% |
| Equity | 10/15 | €465,358 | €481,937 | +€16,580 | +3.6% |
| Contributions | 10/11 | €30,144 | €30,144 | = | 0.0% |
| Reserves | 13 | €316,997 | €333,577 | +€16,580 | +5.2% |
| Distributable reserves | 133 | €316,997 | €333,577 | +€16,580 | +5.2% |
| Profit (loss) carried forward | 14 | €118,216 | €118,216 | = | 0.0% |
| Amounts payable | 17/49 | €758,124 | €699,555 | -€58,569 | -7.7% |
| Amounts payable within one year | 42/48 | €754,809 | €697,298 | -€57,511 | -7.6% |
| Trade debts | 44 | €14,029 | €4,799 | -€9,230 | -65.8% |
| Suppliers | 440/4 | €14,029 | €4,799 | -€9,230 | -65.8% |
| Taxes, remuneration and social security | 45 | €17,691 | €17,691 | = | 0.0% |
| Taxes | 450/3 | €17,691 | €17,691 | = | 0.0% |
| Other amounts payable | 47/48 | €723,089 | €674,808 | -€48,281 | -6.7% |
| Accrued charges and deferred income | 492/3 | €3,315 | €2,257 | -€1,058 | -31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,703 | €76,551 | +€3,848 | +5.3% |
| Other operating charges | 640/8 | €25,236 | €23,711 | -€1,524 | -6.0% |
| Gross operating margin | 9900 | €185,901 | €148,965 | -€36,936 | -19.9% |
| Operating profit (loss) | 9901 | €87,963 | €48,703 | -€39,260 | -44.6% |
| Financial income | 75/76B | €49,653 | €2,005 | -€47,648 | -96.0% |
| Recurring financial income | 75 | €49,653 | €2,005 | -€47,648 | -96.0% |
| Financial charges | 65/66B | €22,059 | €25,666 | +€3,607 | +16.4% |
| Recurring financial charges | 65 | €22,059 | €25,666 | +€3,607 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €115,557 | €25,042 | -€90,515 | -78.3% |
| Income taxes | 67/77 | €35,693 | €8,462 | -€27,231 | -76.3% |
| Profit (loss) for the period | 9904 | €79,864 | €16,580 | -€63,285 | -79.2% |
| Profit (loss) for the period to be appropriated | 9905 | €79,864 | €16,580 | -€63,285 | -79.2% |
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 29 September 2026 via checked.be.