IMMO SLEUTEL: 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 SLEUTEL
Largest movements
- Receivables within one year +€101,602
up €101,602 (+175%), from €58,143 to €159,745
of which Other amounts receivable: +€100,148
- Cash -€46,250
down €46,250 (-49.6%), from €93,307 to €47,057
mainly Receivables within one year (-€101,602) and Other debts (-€27,579)
- Tangible fixed assets -€42,040
down €42,040 (-3.3%), from €1.3m to €1.2m
of which Land and buildings: -€31,051
- Reserves +€85,320
up €85,320 (+6.8%), from €1.3m to €1.3m
of which Distributable reserves: +€85,320
- Other debts -€27,579
down €27,579 (-100%), from €27,579 to €0
- Debts after one year -€25,226
down €25,226 (-53.3%), from €47,334 to €22,108
- Trade debts -€21,266
down €21,266 (-73.3%), from €29,018 to €7,752
- Gross operating margin -€35,433
down €35,433 (-16.3%), from €216,966 to €181,533
- Taxes -€10,724
down €10,724 (-21.4%), from €50,177 to €39,453
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 | €1,424,400 | €1,437,841 | +€13,441 | +0.9% |
| Fixed assets | 21/28 | €1,269,146 | €1,227,106 | -€42,040 | -3.3% |
| Tangible fixed assets | 22/27 | €1,268,221 | €1,226,181 | -€42,040 | -3.3% |
| Land and buildings | 22 | €1,226,567 | €1,195,516 | -€31,051 | -2.5% |
| Plant, machinery and equipment | 23 | €3,326 | €2,481 | -€845 | -25.4% |
| Furniture and vehicles | 24 | €38,328 | €28,184 | -€10,144 | -26.5% |
| Financial fixed assets | 28 | €925 | €925 | = | 0.0% |
| Current assets | 29/58 | €155,254 | €210,735 | +€55,481 | +35.7% |
| Amounts receivable within one year | 40/41 | €58,143 | €159,745 | +€101,602 | +175% |
| Trade receivables | 40 | €27,376 | €28,830 | +€1,454 | +5.3% |
| Other amounts receivable | 41 | €30,767 | €130,915 | +€100,148 | +326% |
| Cash at bank and in hand | 54/58 | €93,307 | €47,057 | -€46,250 | -49.6% |
| Deferred charges and accrued income | 490/1 | €3,804 | €3,933 | +€129 | +3.4% |
| Total equity and liabilities | 10/49 | €1,424,400 | €1,437,841 | +€13,441 | +0.9% |
| Equity | 10/15 | €1,279,935 | €1,365,254 | +€85,320 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,261,335 | €1,346,654 | +€85,320 | +6.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,259,475 | €1,344,794 | +€85,320 | +6.8% |
| Amounts payable | 17/49 | €144,466 | €72,587 | -€71,879 | -49.8% |
| Amounts payable after more than one year | 17 | €47,334 | €22,108 | -€25,226 | -53.3% |
| Financial debts | 170/4 | €47,334 | €22,108 | -€25,226 | -53.3% |
| Amounts payable within one year | 42/48 | €97,132 | €50,480 | -€46,652 | -48.0% |
| Current portion of amounts payable after more than one year | 42 | €25,107 | €25,226 | +€120 | +0.5% |
| Trade debts | 44 | €29,018 | €7,752 | -€21,266 | -73.3% |
| Suppliers | 440/4 | €29,018 | €7,752 | -€21,266 | -73.3% |
| Taxes, remuneration and social security | 45 | €15,428 | €17,501 | +€2,073 | +13.4% |
| Taxes | 450/3 | €15,428 | €17,501 | +€2,073 | +13.4% |
| Other amounts payable | 47/48 | €27,579 | €0 | -€27,579 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,750 | €52,483 | -€268 | -0.5% |
| Other operating charges | 640/8 | €3,184 | €4,341 | +€1,157 | +36.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €216,966 | €181,533 | -€35,433 | -16.3% |
| Operating profit (loss) | 9901 | €161,032 | €124,709 | -€36,323 | -22.6% |
| Financial income | 75/76B | €35 | €1,354 | +€1,319 | +3,755% |
| Recurring financial income | 75 | €35 | €1,354 | +€1,319 | +3,755% |
| Financial charges | 65/66B | €1,444 | €1,290 | -€154 | -10.7% |
| Recurring financial charges | 65 | €1,444 | €1,290 | -€154 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €159,623 | €124,773 | -€34,850 | -21.8% |
| Income taxes | 67/77 | €50,177 | €39,453 | -€10,724 | -21.4% |
| Profit (loss) for the period | 9904 | €109,446 | €85,320 | -€24,126 | -22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €109,446 | €85,320 | -€24,126 | -22.0% |
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 15 October 2026 via checked.be.