IMMO-SINERI: 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-SINERI
Largest movements
- Tangible fixed assets +€262,907
up €262,907 (+25.9%), from €1.0m to €1.3m
of which Land and buildings: +€209,642
- Cash -€24,189
down €24,189 (-51.6%), from €46,908 to €22,719
mainly Investment in fixed assets (net) (-€315,871) and Receivables within one year (-€12,608)
- Debts after one year +€174,094
up €174,094 (+21.4%), from €813,610 to €987,703
- Other debts +€31,004
up €31,004 (+21.2%), from €146,315 to €177,319
- Profit (loss) carried forward +€18,021
up €18,021 (+38.9%), from €46,364 to €64,385
- Current portion of long-term debt +€14,234
up €14,234 (+27.4%), from €51,940 to €66,174
- Other operating charges +€43,336
up €43,336 (+587%), from €7,383 to €50,719
- Gross operating margin +€10,541
up €10,541 (+7.3%), from €143,705 to €154,246
- Financial charges +€9,623
up €9,623 (+66.8%), from €14,412 to €24,035
- Depreciation +€9,237
up €9,237 (+21.0%), from €43,897 to €53,134
- Taxes +€7,417
up €7,417 (+8,568%), from €87 to €7,504
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.
Derived cash bridge
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 | €1,067,773 | €1,318,929 | +€251,156 | +23.5% |
| Formation expenses | 20 | €241 | €71 | -€170 | -70.7% |
| Fixed assets | 21/28 | €1,015,451 | €1,278,358 | +€262,907 | +25.9% |
| Tangible fixed assets | 22/27 | €1,015,451 | €1,278,358 | +€262,907 | +25.9% |
| Land and buildings | 22 | €992,930 | €1,202,572 | +€209,642 | +21.1% |
| Plant, machinery and equipment | 23 | €22,521 | €75,787 | +€53,266 | +237% |
| Current assets | 29/58 | €52,081 | €40,500 | -€11,581 | -22.2% |
| Amounts receivable within one year | 40/41 | €5,173 | €17,781 | +€12,608 | +244% |
| Trade receivables | 40 | €5,173 | €17,781 | +€12,608 | +244% |
| Cash at bank and in hand | 54/58 | €46,908 | €22,719 | -€24,189 | -51.6% |
| Total equity and liabilities | 10/49 | €1,067,773 | €1,318,929 | +€251,156 | +23.5% |
| Equity | 10/15 | €48,864 | €66,885 | +€18,021 | +36.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,364 | €64,385 | +€18,021 | +38.9% |
| Amounts payable | 17/49 | €1,018,909 | €1,252,044 | +€233,136 | +22.9% |
| Amounts payable after more than one year | 17 | €813,610 | €987,703 | +€174,094 | +21.4% |
| Financial debts | 170/4 | €813,610 | €987,703 | +€174,094 | +21.4% |
| Amounts payable within one year | 42/48 | €205,299 | €264,341 | +€59,042 | +28.8% |
| Current portion of amounts payable after more than one year | 42 | €51,940 | €66,174 | +€14,234 | +27.4% |
| Trade debts | 44 | €370 | €6,030 | +€5,660 | +1,530% |
| Suppliers | 440/4 | €370 | €6,030 | +€5,660 | +1,530% |
| Taxes, remuneration and social security | 45 | €6,674 | €14,818 | +€8,144 | +122% |
| Taxes | 450/3 | €6,674 | €10,818 | +€4,144 | +62.1% |
| Remuneration and social security | 454/9 | - | €4,000 | +€4,000 | |
| Other amounts payable | 47/48 | €146,315 | €177,319 | +€31,004 | +21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,897 | €53,134 | +€9,237 | +21.0% |
| Other operating charges | 640/8 | €7,383 | €50,719 | +€43,336 | +587% |
| Gross operating margin | 9900 | €143,705 | €154,246 | +€10,541 | +7.3% |
| Operating profit (loss) | 9901 | €92,425 | €50,393 | -€42,033 | -45.5% |
| Financial charges | 65/66B | €14,412 | €24,035 | +€9,623 | +66.8% |
| Recurring financial charges | 65 | €14,412 | €24,035 | +€9,623 | +66.8% |
| Profit (loss) for the period before taxes | 9903 | €78,013 | €26,358 | -€51,656 | -66.2% |
| Income taxes | 67/77 | €87 | €7,504 | +€7,417 | +8,568% |
| Profit (loss) for the period | 9904 | €77,927 | €18,854 | -€59,073 | -75.8% |
| Profit (loss) for the period to be appropriated | 9905 | €77,927 | €18,854 | -€59,073 | -75.8% |
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 26 October 2026 via checked.be.