Immo SP: 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 SP
Largest movements
- Receivables within one year -€66,402
down €66,402 (-12.4%), from €536,543 to €470,140
of which Trade receivables: -€47,904
- Tangible fixed assets +€32,366
up €32,366 (+37.1%), from €87,276 to €119,642
of which Other tangible fixed assets: +€46,504
- Receivables after one year +€12,900
new in 2025: €12,900
- Cash -€11,040
down €11,040 (-69.1%), from €15,984 to €4,944
mainly Contributions, distributions and other (-€99,000) and Investment in fixed assets (net) (-€54,994)
- Other debts -€31,043
down €31,043 (-98.7%), from €31,442 to €398
- Trade debts -€26,771
down €26,771 (-16.3%), from €164,608 to €137,838
- Tax, wage and social debts +€24,030
up €24,030 (+27.4%), from €87,717 to €111,747
of which Taxes: +€32,059
- Accrued charges and deferred income -€9,042
down €9,042 (-99.9%), from €9,050 to €8
- Gross operating margin +€65,019
up €65,019 (+19.7%), from €329,258 to €394,277
- Staff costs -€18,752
down €18,752 (-9.2%), from €204,253 to €185,501
- Taxes +€17,626
up €17,626 (+77.3%), from €22,802 to €40,427
- Financial charges +€13,294
up €13,294 (+48.6%), from €27,365 to €40,659
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 | €653,818 | €620,301 | -€33,517 | -5.1% |
| Fixed assets | 21/28 | €91,227 | €122,673 | +€31,446 | +34.5% |
| Intangible fixed assets | 21 | €3,751 | €2,831 | -€920 | -24.5% |
| Tangible fixed assets | 22/27 | €87,276 | €119,642 | +€32,366 | +37.1% |
| Plant, machinery and equipment | 23 | €6,321 | €5,538 | -€784 | -12.4% |
| Furniture and vehicles | 24 | €40,991 | €27,636 | -€13,355 | -32.6% |
| Other tangible fixed assets | 26 | €39,964 | €86,469 | +€46,504 | +116.4% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €562,591 | €497,628 | -€64,963 | -11.5% |
| Amounts receivable after more than one year | 29 | - | €12,900 | +€12,900 | |
| Other amounts receivable | 291 | - | €12,900 | +€12,900 | |
| Amounts receivable within one year | 40/41 | €536,543 | €470,140 | -€66,402 | -12.4% |
| Trade receivables | 40 | €244,791 | €196,887 | -€47,904 | -19.6% |
| Other amounts receivable | 41 | €291,752 | €273,254 | -€18,499 | -6.3% |
| Cash at bank and in hand | 54/58 | €15,984 | €4,944 | -€11,040 | -69.1% |
| Deferred charges and accrued income | 490/1 | €10,064 | €9,644 | -€421 | -4.2% |
| Total equity and liabilities | 10/49 | €653,818 | €620,301 | -€33,517 | -5.1% |
| Equity | 10/15 | €60,145 | €60,821 | +€677 | +1.1% |
| Contributions | 10/11 | €17,978 | €17,978 | = | 0.0% |
| Reserves | 13 | €42,167 | €42,844 | +€677 | +1.6% |
| Tax-exempt reserves | 132 | €1,732 | €1,732 | = | 0.0% |
| Distributable reserves | 133 | €40,435 | €41,112 | +€677 | +1.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €593,673 | €559,479 | -€34,194 | -5.8% |
| Amounts payable after more than one year | 17 | €125,116 | €130,808 | +€5,692 | +4.5% |
| Financial debts | 170/4 | €125,116 | €130,808 | +€5,692 | +4.5% |
| Amounts payable within one year | 42/48 | €459,508 | €428,663 | -€30,844 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €44,354 | €42,390 | -€1,963 | -4.4% |
| Financial debts | 43 | €131,387 | €136,290 | +€4,903 | +3.7% |
| Credit institutions | 430/8 | €131,387 | €136,290 | +€4,903 | +3.7% |
| Trade debts | 44 | €164,608 | €137,838 | -€26,771 | -16.3% |
| Suppliers | 440/4 | €164,608 | €137,838 | -€26,771 | -16.3% |
| Taxes, remuneration and social security | 45 | €87,717 | €111,747 | +€24,030 | +27.4% |
| Taxes | 450/3 | €50,853 | €82,913 | +€32,059 | +63.0% |
| Remuneration and social security | 454/9 | €36,864 | €28,834 | -€8,030 | -21.8% |
| Other amounts payable | 47/48 | €31,442 | €398 | -€31,043 | -98.7% |
| Accrued charges and deferred income | 492/3 | €9,050 | €8 | -€9,042 | -99.9% |
| Non-recurring operating income | 76A | - | €4,812 | +€4,812 | |
| Remuneration, social security and pensions | 62 | €204,253 | €185,501 | -€18,752 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,038 | €23,549 | +€1,510 | +6.9% |
| Other operating charges | 640/8 | €1,011 | €4,786 | +€3,775 | +373.2% |
| Gross operating margin | 9900 | €329,258 | €394,277 | +€65,019 | +19.7% |
| Operating profit (loss) | 9901 | €101,955 | €180,442 | +€78,486 | +77.0% |
| Financial income | 75/76B | €35 | €321 | +€286 | +808.7% |
| Recurring financial income | 75 | €35 | €321 | +€286 | +808.7% |
| Financial charges | 65/66B | €27,365 | €40,659 | +€13,294 | +48.6% |
| Recurring financial charges | 65 | €27,365 | €40,659 | +€13,294 | +48.6% |
| Profit (loss) for the period before taxes | 9903 | €74,625 | €140,104 | +€65,479 | +87.7% |
| Income taxes | 67/77 | €22,802 | €40,427 | +€17,626 | +77.3% |
| Profit (loss) for the period | 9904 | €51,824 | €99,677 | +€47,853 | +92.3% |
| Profit (loss) for the period to be appropriated | 9905 | €51,824 | €99,677 | +€47,853 | +92.3% |
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.