Immo Stéphanois: what changed
Two fiscal 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 Stéphanois
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€57,101
2024 · €76,677-€19,576
Equity
€719,067
2024 · €716,966+€2,101
Cash
€555,061
2024 · €549,801+€5,261
Balance sheet total
€817,430
2024 · €855,117-€37,687
Largest movements
Assets
- Tangible fixed assets -€36,949
down €36,949 (-12.8%), from €287,929 to €250,980
of which Land and buildings: -€21,899
Equity and liabilities
- Other debts -€21,000
down €21,000 (-27.6%), from €76,000 to €55,000
- Debts after one year -€14,370
no longer reported in 2025 (was €14,370)
Income statement
- Gross operating margin -€17,415
down €17,415 (-7.7%), from €227,315 to €209,901
- Taxes -€6,544
down €6,544 (-24.9%), from €26,280 to €19,737
- Financial income -€5,381
down €5,381 (-97.8%), from €5,504 to €123
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
€76,677
Gross operating margin
-€17,415
Staff costs
-€1,671
Depreciation
-€1,943
Other operating charges
-€398
Financial income
-€5,381
Financial charges
+€688
Taxes
+€6,544
Result 2025
€57,101
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
+€87,783
Investment
-€13,653
Financing
-€68,869
Cash 2024
€549,801
From operations (derived)
+€87,783
Net result for the year
+€57,101
Depreciation
+€50,602
Receivables within one year
+€5,999
Trade debts
-€5,528
Tax, wage and social debts
+€409
Other debts
-€21,000
Accrued charges and deferred income
+€200
Investment (derived)
-€13,653
Investment in fixed assets (net)
-€13,653
Financing
-€68,869
Debts after one year
-€14,370
Current portion of long-term debt
+€500
Contributions, distributions and other
-€55,000
Cash 2025
€555,061
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €855,117 | €817,430 | -€37,687 | -4.4% |
| Fixed assets | 21/28 | €287,979 | €251,030 | -€36,949 | -12.8% |
| Tangible fixed assets | 22/27 | €287,929 | €250,980 | -€36,949 | -12.8% |
| Land and buildings | 22 | €214,674 | €192,775 | -€21,899 | -10.2% |
| Furniture and vehicles | 24 | €45,580 | €31,213 | -€14,367 | -31.5% |
| Other tangible fixed assets | 26 | €682 | - | -€682 | |
| Assets under construction and advance payments | 27 | €26,992 | €26,992 | = | 0.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €567,138 | €566,400 | -€739 | -0.1% |
| Amounts receivable within one year | 40/41 | €17,338 | €11,338 | -€5,999 | -34.6% |
| Trade receivables | 40 | €691 | €379 | -€312 | -45.1% |
| Other amounts receivable | 41 | €16,647 | €10,959 | -€5,687 | -34.2% |
| Cash at bank and in hand | 54/58 | €549,801 | €555,061 | +€5,261 | +1.0% |
| Total equity and liabilities | 10/49 | €855,117 | €817,430 | -€37,687 | -4.4% |
| Equity | 10/15 | €716,966 | €719,067 | +€2,101 | +0.3% |
| Contributions | 10/11 | €52,625 | €52,625 | = | 0.0% |
| Reserves | 13 | €266,143 | €268,244 | +€2,101 | +0.8% |
| Non-distributable reserves | 130/1 | €12,921 | €12,921 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,921 | €12,921 | = | 0.0% |
| Distributable reserves | 133 | €253,221 | €255,323 | +€2,101 | +0.8% |
| Profit (loss) carried forward | 14 | €398,197 | €398,197 | = | 0.0% |
| Amounts payable | 17/49 | €138,151 | €98,363 | -€39,788 | -28.8% |
| Amounts payable after more than one year | 17 | €14,370 | - | -€14,370 | |
| Financial debts | 170/4 | €14,370 | - | -€14,370 | |
| Amounts payable within one year | 42/48 | €122,281 | €96,663 | -€25,618 | -21.0% |
| Current portion of amounts payable after more than one year | 42 | €13,869 | €14,370 | +€500 | +3.6% |
| Trade debts | 44 | €21,290 | €15,763 | -€5,528 | -26.0% |
| Suppliers | 440/4 | €21,290 | €15,763 | -€5,528 | -26.0% |
| Taxes, remuneration and social security | 45 | €11,122 | €11,530 | +€409 | +3.7% |
| Remuneration and social security | 454/9 | €11,122 | €11,530 | +€409 | +3.7% |
| Other amounts payable | 47/48 | €76,000 | €55,000 | -€21,000 | -27.6% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,700 | +€200 | +13.3% |
| Remuneration, social security and pensions | 62 | €71,332 | €73,002 | +€1,671 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,659 | €50,602 | +€1,943 | +4.0% |
| Other operating charges | 640/8 | €8,208 | €8,607 | +€398 | +4.9% |
| Gross operating margin | 9900 | €227,315 | €209,901 | -€17,415 | -7.7% |
| Operating profit (loss) | 9901 | €99,116 | €77,690 | -€21,427 | -21.6% |
| Financial income | 75/76B | €5,504 | €123 | -€5,381 | -97.8% |
| Recurring financial income | 75 | €5,504 | €123 | -€5,381 | -97.8% |
| Financial charges | 65/66B | €1,663 | €975 | -€688 | -41.4% |
| Recurring financial charges | 65 | €1,663 | €975 | -€688 | -41.4% |
| Profit (loss) for the period before taxes | 9903 | €102,957 | €76,838 | -€26,119 | -25.4% |
| Income taxes | 67/77 | €26,280 | €19,737 | -€6,544 | -24.9% |
| Profit (loss) for the period | 9904 | €76,677 | €57,101 | -€19,576 | -25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €76,677 | €57,101 | -€19,576 | -25.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.