IMMO - STEEL: 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 - STEEL
Largest movements
- Tangible fixed assets -€36,087
down €36,087 (-5.4%), from €668,719 to €632,633
- Cash +€9,255
up €9,255 (+60.2%), from €15,380 to €24,635
mainly Depreciation (+€36,087) and Net result for the year (+€26,886)
- Other debts -€54,782
down €54,782 (-14.3%), from €383,066 to €328,284
- Reserves +€26,886
up €26,886 (+11.6%), from €232,359 to €259,245
of which Distributable reserves: +€26,886
- Gross operating margin -€2,297
down €2,297 (-2.6%), from €88,535 to €86,237
- Depreciation +€1,441
up €1,441 (+4.2%), from €34,645 to €36,087
- Taxes -€1,341
down €1,341 (-9.7%), from €13,887 to €12,547
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 | €686,852 | €660,097 | -€26,756 | -3.9% |
| Fixed assets | 21/28 | €669,219 | €633,133 | -€36,087 | -5.4% |
| Tangible fixed assets | 22/27 | €668,719 | €632,633 | -€36,087 | -5.4% |
| Land and buildings | 22 | €668,719 | €632,633 | -€36,087 | -5.4% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €17,633 | €26,964 | +€9,331 | +52.9% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €15,380 | €24,635 | +€9,255 | +60.2% |
| Deferred charges and accrued income | 490/1 | €2,253 | €2,330 | +€77 | +3.4% |
| Total equity and liabilities | 10/49 | €686,852 | €660,097 | -€26,756 | -3.9% |
| Equity | 10/15 | €294,332 | €321,219 | +€26,886 | +9.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €232,359 | €259,245 | +€26,886 | +11.6% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €226,162 | €253,048 | +€26,886 | +11.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €392,520 | €338,878 | -€53,642 | -13.7% |
| Amounts payable within one year | 42/48 | €391,730 | €338,088 | -€53,642 | -13.7% |
| Trade debts | 44 | €5,777 | €2,871 | -€2,907 | -50.3% |
| Suppliers | 440/4 | €5,777 | €2,871 | -€2,907 | -50.3% |
| Taxes, remuneration and social security | 45 | €2,887 | €6,934 | +€4,047 | +140% |
| Taxes | 450/3 | €2,887 | €6,934 | +€4,047 | +140% |
| Other amounts payable | 47/48 | €383,066 | €328,284 | -€54,782 | -14.3% |
| Accrued charges and deferred income | 492/3 | €790 | €790 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,645 | €36,087 | +€1,441 | +4.2% |
| Other operating charges | 640/8 | €10,067 | €10,435 | +€368 | +3.7% |
| Gross operating margin | 9900 | €88,535 | €86,237 | -€2,297 | -2.6% |
| Operating profit (loss) | 9901 | €43,822 | €39,716 | -€4,106 | -9.4% |
| Financial charges | 65/66B | €176 | €283 | +€107 | +60.7% |
| Recurring financial charges | 65 | €176 | €283 | +€107 | +60.7% |
| Profit (loss) for the period before taxes | 9903 | €43,646 | €39,433 | -€4,213 | -9.7% |
| Income taxes | 67/77 | €13,887 | €12,547 | -€1,341 | -9.7% |
| Profit (loss) for the period | 9904 | €29,759 | €26,886 | -€2,873 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,759 | €26,886 | -€2,873 | -9.7% |
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 31 October 2026 via checked.be.