IMMO-SEN: 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-SEN
Largest movements
- Current investments -€500,000
down €500,000 (-91.3%), from €547,684 to €47,684
- Cash +€297,631
up €297,631 (+44.2%), from €672,934 to €970,565
mainly Current investments (+€500,000) and Receivables after one year (+€259,229)
- Receivables after one year -€259,229
down €259,229 (-52.8%), from €490,535 to €231,306
- Receivables within one year -€182,299
down €182,299 (-42.0%), from €434,532 to €252,233
of which Other amounts receivable: -€197,183
- Tangible fixed assets +€148,599
up €148,599 (+4.0%), from €3.7m to €3.8m
of which Land and buildings: +€117,305
- Debts after one year -€617,301
down €617,301 (-37.7%), from €1.6m to €1.0m
of which Other amounts payable: -€753,589
- Reserves +€102,611
up €102,611 (+2.9%), from €3.5m to €3.6m
of which Distributable reserves: +€102,611
- Tax, wage and social debts -€83,321
down €83,321 (-55.0%), from €151,546 to €68,225
- Financial charges -€61,438
down €61,438 (-75.3%), from €81,614 to €20,176
of which Financial charges: -€61,438
- Financial income +€54,904
up €54,904 (+122.8%), from €44,723 to €99,627
of which Non-recurring financial income: +€63,763
- Depreciation +€37,821
up €37,821 (+21.0%), from €179,870 to €217,690
- Taxes +€22,550
up €22,550 (+78.9%), from €28,591 to €51,141
- Other operating charges +€4,869
up €4,869 (+11.2%), from €43,432 to €48,302
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 | €5,928,705 | €5,361,073 | -€567,632 | -9.6% |
| Fixed assets | 21/28 | €3,704,911 | €3,853,510 | +€148,599 | +4.0% |
| Tangible fixed assets | 22/27 | €3,697,133 | €3,845,732 | +€148,599 | +4.0% |
| Land and buildings | 22 | €3,596,126 | €3,713,431 | +€117,305 | +3.3% |
| Plant, machinery and equipment | 23 | €3,921 | €2,162 | -€1,760 | -44.9% |
| Furniture and vehicles | 24 | €97,085 | €130,138 | +€33,053 | +34.0% |
| Financial fixed assets | 28 | €7,778 | €7,778 | = | 0.0% |
| Current assets | 29/58 | €2,223,794 | €1,507,564 | -€716,230 | -32.2% |
| Amounts receivable after more than one year | 29 | €490,535 | €231,306 | -€259,229 | -52.8% |
| Other amounts receivable | 291 | €490,535 | €231,306 | -€259,229 | -52.8% |
| Amounts receivable within one year | 40/41 | €434,532 | €252,233 | -€182,299 | -42.0% |
| Trade receivables | 40 | €817 | €15,701 | +€14,884 | +1822.6% |
| Other amounts receivable | 41 | €433,716 | €236,532 | -€197,183 | -45.5% |
| Current investments | 50/53 | €547,684 | €47,684 | -€500,000 | -91.3% |
| Cash at bank and in hand | 54/58 | €672,934 | €970,565 | +€297,631 | +44.2% |
| Deferred charges and accrued income | 490/1 | €78,109 | €5,776 | -€72,333 | -92.6% |
| Total equity and liabilities | 10/49 | €5,928,705 | €5,361,073 | -€567,632 | -9.6% |
| Equity | 10/15 | €3,985,542 | €4,088,154 | +€102,611 | +2.6% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Contributions outside capital | 11 | €500,000 | - | -€500,000 | |
| Other | 1109/19 | €500,000 | - | -€500,000 | |
| Reserves | 13 | €3,485,542 | €3,588,154 | +€102,611 | +2.9% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50,000 | €50,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €60,212 | €60,212 | = | 0.0% |
| Distributable reserves | 133 | €3,375,330 | €3,477,942 | +€102,611 | +3.0% |
| Provisions and deferred taxes | 16 | €31,005 | €31,005 | = | 0.0% |
| Deferred taxes | 168 | €31,005 | €31,005 | = | 0.0% |
| Amounts payable | 17/49 | €1,912,158 | €1,241,915 | -€670,243 | -35.1% |
| Amounts payable after more than one year | 17 | €1,639,172 | €1,021,870 | -€617,301 | -37.7% |
| Financial debts | 170/4 | €575,867 | €712,155 | +€136,288 | +23.7% |
| Other amounts payable | 178/9 | €1,063,305 | €309,715 | -€753,589 | -70.9% |
| Amounts payable within one year | 42/48 | €259,125 | €211,015 | -€48,110 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €102,511 | €127,893 | +€25,382 | +24.8% |
| Trade debts | 44 | €5,068 | €14,898 | +€9,830 | +193.9% |
| Suppliers | 440/4 | €5,068 | €14,898 | +€9,830 | +193.9% |
| Taxes, remuneration and social security | 45 | €151,546 | €68,225 | -€83,321 | -55.0% |
| Taxes | 450/3 | €151,546 | €68,225 | -€83,321 | -55.0% |
| Accrued charges and deferred income | 492/3 | €13,862 | €9,030 | -€4,832 | -34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €179,870 | €217,690 | +€37,821 | +21.0% |
| Other operating charges | 640/8 | €43,432 | €48,302 | +€4,869 | +11.2% |
| Gross operating margin | 9900 | €340,644 | €340,293 | -€351 | -0.1% |
| Operating profit (loss) | 9901 | €117,342 | €74,301 | -€43,041 | -36.7% |
| Financial income | 75/76B | €44,723 | €99,627 | +€54,904 | +122.8% |
| Recurring financial income | 75 | €44,723 | €35,865 | -€8,858 | -19.8% |
| Non-recurring financial income | 76B | - | €63,763 | +€63,763 | |
| Financial charges | 65/66B | €81,614 | €20,176 | -€61,438 | -75.3% |
| Recurring financial charges | 65 | €81,614 | €20,176 | -€61,438 | -75.3% |
| Non-recurring financial charges | 66B | - | €0 | +€0 | |
| Profit (loss) for the period before taxes | 9903 | €80,451 | €153,752 | +€73,301 | +91.1% |
| Transfer from deferred taxes | 780 | €3,100 | €0 | -€3,100 | -100.0% |
| Income taxes | 67/77 | €28,591 | €51,141 | +€22,550 | +78.9% |
| Profit (loss) for the period | 9904 | €54,961 | €102,611 | +€47,651 | +86.7% |
| Transfer from tax-exempt reserves | 789 | €6,021 | €0 | -€6,021 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €60,982 | €102,611 | +€41,630 | +68.3% |
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 11 October 2026 via checked.be.