IMMO SIM: 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 SIM
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€26,955
2024 · €18,759+€8,196
Equity
€447,904
2024 · €420,949+€26,955
Cash
€9,765
2024 · €6,117+€3,648
Balance sheet total
€1.7m
2024 · €1.8m-€56,290
Largest movements
Assets
- Tangible fixed assets -€59,922
down €59,922 (-3.3%), from €1.8m to €1.7m
of which Land and buildings: -€59,482
Equity and liabilities
- Debts after one year -€68,036
down €68,036 (-5.5%), from €1.2m to €1.2m
of which Financial debts: -€68,036
- Reserves +€26,955
up €26,955 (+12.8%), from €210,949 to €237,904
of which Distributable reserves: +€27,901
Income statement
- Gross operating margin +€13,128
up €13,128 (+8.4%), from €155,598 to €168,726
- Taxes +€9,300
up €9,300 (+3543.5%), from €262 to €9,563
- Financial charges -€3,744
down €3,744 (-8.8%), from €42,320 to €38,577
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
€18,759
Gross operating margin
+€13,128
Depreciation
+€1,026
Other operating charges
-€401
Financial income
-€0
Financial charges
+€3,744
Taxes
-€9,300
Result 2025
€26,955
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
+€77,684
Investment
-€7,318
Financing
-€66,718
Cash 2024
€6,117
From operations (derived)
+€77,684
Net result for the year
+€26,955
Depreciation
+€67,240
Smaller working-capital items
+€16
Trade debts
-€8,619
Tax, wage and social debts
+€6,599
Other debts
-€11,956
Accrued charges and deferred income
-€2,552
Investment (derived)
-€7,318
Investment in fixed assets (net)
-€7,318
Financing
-€66,718
Debts after one year
-€68,036
Current portion of long-term debt
+€1,317
Cash 2025
€9,765
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,801,394 | €1,745,104 | -€56,290 | -3.1% |
| Fixed assets | 21/28 | €1,790,217 | €1,730,295 | -€59,922 | -3.3% |
| Tangible fixed assets | 22/27 | €1,790,217 | €1,730,295 | -€59,922 | -3.3% |
| Land and buildings | 22 | €1,785,547 | €1,726,065 | -€59,482 | -3.3% |
| Plant, machinery and equipment | 23 | €1,683 | €1,165 | -€518 | -30.8% |
| Furniture and vehicles | 24 | €2,988 | €3,066 | +€78 | +2.6% |
| Current assets | 29/58 | €11,177 | €14,808 | +€3,631 | +32.5% |
| Amounts receivable within one year | 40/41 | €3,034 | €3,178 | +€144 | +4.7% |
| Trade receivables | 40 | €2,784 | €2,928 | +€144 | +5.2% |
| Other amounts receivable | 41 | €250 | €250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,117 | €9,765 | +€3,648 | +59.6% |
| Deferred charges and accrued income | 490/1 | €2,026 | €1,865 | -€160 | -7.9% |
| Total equity and liabilities | 10/49 | €1,801,394 | €1,745,104 | -€56,290 | -3.1% |
| Equity | 10/15 | €420,949 | €447,904 | +€26,955 | +6.4% |
| Contributions | 10/11 | €210,000 | €210,000 | = | 0.0% |
| Capital | 10 | €210,000 | €210,000 | = | 0.0% |
| Issued capital | 100 | €210,000 | €210,000 | = | 0.0% |
| Reserves | 13 | €210,949 | €237,904 | +€26,955 | +12.8% |
| Non-distributable reserves | 130/1 | €12,427 | €13,896 | +€1,468 | +11.8% |
| Legal reserve | 130 | €12,427 | €13,896 | +€1,468 | +11.8% |
| Tax-exempt reserves | 132 | €63,249 | €60,835 | -€2,414 | -3.8% |
| Distributable reserves | 133 | €135,273 | €163,174 | +€27,901 | +20.6% |
| Amounts payable | 17/49 | €1,380,445 | €1,297,199 | -€83,245 | -6.0% |
| Amounts payable after more than one year | 17 | €1,230,321 | €1,162,285 | -€68,036 | -5.5% |
| Financial debts | 170/4 | €960,321 | €892,285 | -€68,036 | -7.1% |
| Other amounts payable | 178/9 | €270,000 | €270,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €133,681 | €121,023 | -€12,658 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €66,718 | €68,036 | +€1,317 | +2.0% |
| Trade debts | 44 | €12,162 | €3,543 | -€8,619 | -70.9% |
| Suppliers | 440/4 | €12,162 | €3,543 | -€8,619 | -70.9% |
| Taxes, remuneration and social security | 45 | €9,149 | €15,748 | +€6,599 | +72.1% |
| Taxes | 450/3 | €9,149 | €15,748 | +€6,599 | +72.1% |
| Other amounts payable | 47/48 | €45,652 | €33,696 | -€11,956 | -26.2% |
| Accrued charges and deferred income | 492/3 | €16,443 | €13,891 | -€2,552 | -15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,265 | €67,240 | -€1,026 | -1.5% |
| Other operating charges | 640/8 | €25,990 | €26,392 | +€401 | +1.5% |
| Gross operating margin | 9900 | €155,598 | €168,726 | +€13,128 | +8.4% |
| Operating profit (loss) | 9901 | €61,342 | €75,095 | +€13,753 | +22.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €42,320 | €38,577 | -€3,744 | -8.8% |
| Recurring financial charges | 65 | €42,320 | €38,577 | -€3,744 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €19,022 | €36,518 | +€17,496 | +92.0% |
| Income taxes | 67/77 | €262 | €9,563 | +€9,300 | +3543.5% |
| Profit (loss) for the period | 9904 | €18,759 | €26,955 | +€8,196 | +43.7% |
| Transfer from tax-exempt reserves | 789 | €2,414 | €2,414 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,174 | €29,370 | +€8,196 | +38.7% |
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.