IMMO SEGEC: 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.
What changed
IMMO SEGEC
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€24,432
2024 · €20,606+€3,826
Equity
€190,782
2024 · €166,351+€24,431
Cash
€49,875
2024 · €55,652-€5,777
Balance sheet total
€1.7m
2024 · €1.8m-€108,139
Largest movements
Assets
- Tangible fixed assets -€93,210
down €93,210 (-5.7%), from €1.6m to €1.6m
Equity and liabilities
- Debts after one year -€119,450
down €119,450 (-8.2%), from €1.4m to €1.3m
- Profit (loss) carried forward +€24,432
up €24,432 (+28.5%), from €85,652 to €110,084
Income statement
- Gross operating margin +€2,999
up €2,999 (+1.5%), from €203,049 to €206,048
- Financial charges -€2,173
down €2,173 (-7.0%), from €31,029 to €28,856
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.
Result 2024
€20,606
Gross operating margin
+€2,999
Depreciation
-€445
Other operating charges
+€438
Financial charges
+€2,173
Taxes
-€1,339
Result 2025
€24,432
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.
From operations
+€116,741
Investment
-€5,172
Financing
-€117,346
Cash 2024
€55,652
From operations (derived)
+€116,741
Net result for the year
+€24,432
Depreciation
+€98,382
Receivables within one year
+€9,633
Deferred charges and accrued income
-€480
Trade debts
-€3,892
Tax, wage and social debts
-€11,400
Other debts
+€67
Investment (derived)
-€5,172
Investment in fixed assets (net)
-€5,172
Financing
-€117,346
Debts after one year
-€119,450
Current portion of long-term debt
+€2,105
Contributions, distributions and other
-€1
Cash 2025
€49,875
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,765,770 | €1,657,631 | -€108,139 | -6.1% |
| Fixed assets | 21/28 | €1,647,488 | €1,554,278 | -€93,210 | -5.7% |
| Tangible fixed assets | 22/27 | €1,647,488 | €1,554,278 | -€93,210 | -5.7% |
| Land and buildings | 22 | €1,647,488 | €1,554,278 | -€93,210 | -5.7% |
| Current assets | 29/58 | €118,282 | €103,353 | -€14,929 | -12.6% |
| Amounts receivable within one year | 40/41 | €53,364 | €43,731 | -€9,633 | -18.1% |
| Trade receivables | 40 | €3,364 | €600 | -€2,764 | -82.2% |
| Other amounts receivable | 41 | €50,000 | €43,131 | -€6,869 | -13.7% |
| Cash at bank and in hand | 54/58 | €55,652 | €49,875 | -€5,777 | -10.4% |
| Deferred charges and accrued income | 490/1 | €9,266 | €9,746 | +€480 | +5.2% |
| Total equity and liabilities | 10/49 | €1,765,770 | €1,657,631 | -€108,139 | -6.1% |
| Equity | 10/15 | €166,351 | €190,782 | +€24,431 | +14.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €60,699 | €60,699 | -€0 | 0.0% |
| Distributable reserves | 133 | €60,699 | €60,699 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €85,652 | €110,084 | +€24,432 | +28.5% |
| Amounts payable | 17/49 | €1,599,419 | €1,466,849 | -€132,570 | -8.3% |
| Amounts payable after more than one year | 17 | €1,448,738 | €1,329,288 | -€119,450 | -8.2% |
| Financial debts | 170/4 | €1,448,738 | €1,329,288 | -€119,450 | -8.2% |
| Amounts payable within one year | 42/48 | €150,681 | €137,561 | -€13,120 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €123,558 | €125,663 | +€2,105 | +1.7% |
| Trade debts | 44 | €4,364 | €472 | -€3,892 | -89.2% |
| Suppliers | 440/4 | €4,364 | €472 | -€3,892 | -89.2% |
| Taxes, remuneration and social security | 45 | €22,726 | €11,326 | -€11,400 | -50.2% |
| Taxes | 450/3 | €22,726 | €11,326 | -€11,400 | -50.2% |
| Other amounts payable | 47/48 | €33 | €100 | +€67 | +202.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,937 | €98,382 | +€445 | +0.5% |
| Other operating charges | 640/8 | €46,608 | €46,170 | -€438 | -0.9% |
| Gross operating margin | 9900 | €203,049 | €206,048 | +€2,999 | +1.5% |
| Operating profit (loss) | 9901 | €58,504 | €61,496 | +€2,992 | +5.1% |
| Financial charges | 65/66B | €31,029 | €28,856 | -€2,173 | -7.0% |
| Recurring financial charges | 65 | €31,029 | €28,856 | -€2,173 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €27,475 | €32,640 | +€5,165 | +18.8% |
| Income taxes | 67/77 | €6,869 | €8,208 | +€1,339 | +19.5% |
| Profit (loss) for the period | 9904 | €20,606 | €24,432 | +€3,826 | +18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,606 | €24,432 | +€3,826 | +18.6% |
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 10 October 2026 via checked.be.