IMMO STEVE: 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 STEVE
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€18,171
2024 · -€15,223-€2,949
Equity
€244,344
2024 · €262,515-€18,171
Cash
€417
2024 · €1,196-€779
Balance sheet total
€783,075
2024 · €809,648-€26,573
Largest movements
Assets
- Tangible fixed assets -€27,671
down €27,671 (-3.5%), from €780,989 to €753,318
of which Land and buildings: -€27,579
Equity and liabilities
- Debts after one year -€42,810
down €42,810 (-10.2%), from €417,853 to €375,043
- Other debts +€33,534
up €33,534 (+191.9%), from €17,475 to €51,009
- Profit (loss) carried forward -€11,352
down €11,352 (-680.9%), from -€1,667 to -€13,020
Income statement
- Write-downs +€2,960
new in 2025: €2,960
- Other operating charges +€1,246
up €1,246 (+10.3%), from €12,084 to €13,330
- Depreciation -€947
down €947 (-3.3%), from €28,618 to €27,671
- Taxes -€793
no longer reported in 2025 (was €793)
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
-€15,223
Gross operating margin
-€233
Depreciation
+€947
Write-downs
-€2,960
Other operating charges
-€1,246
Financial income
+€1
Financial charges
-€116
Taxes
+€793
Deferred taxes and other
-€135
Result 2025
-€18,171
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
+€40,565
Investment
+€580
Financing
-€41,924
Cash 2024
€1,196
From operations (derived)
+€40,565
Net result for the year
-€18,171
Depreciation
+€27,671
Stocks and contracts
+€1,000
Receivables within one year
-€1,500
Deferred charges and accrued income
-€1,956
Provisions
-€2,273
Trade debts
+€2,261
Other debts
+€33,534
Investment (derived)
+€580
Investment in fixed assets (net)
+€580
Financing
-€41,924
Debts after one year
-€42,810
Current portion of long-term debt
+€887
Cash 2025
€417
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €809,648 | €783,075 | -€26,573 | -3.3% |
| Fixed assets | 21/28 | €781,569 | €753,318 | -€28,251 | -3.6% |
| Tangible fixed assets | 22/27 | €780,989 | €753,318 | -€27,671 | -3.5% |
| Land and buildings | 22 | €780,797 | €753,219 | -€27,579 | -3.5% |
| Furniture and vehicles | 24 | €191 | €99 | -€92 | -48.2% |
| Financial fixed assets | 28 | €580 | - | -€580 | |
| Current assets | 29/58 | €28,079 | €29,757 | +€1,678 | +6.0% |
| Stocks and contracts in progress | 3 | €1,000 | - | -€1,000 | |
| Stocks | 30/36 | €1,000 | - | -€1,000 | |
| Amounts receivable within one year | 40/41 | €25,883 | €27,383 | +€1,500 | +5.8% |
| Trade receivables | 40 | €25,883 | €27,383 | +€1,500 | +5.8% |
| Cash at bank and in hand | 54/58 | €1,196 | €417 | -€779 | -65.1% |
| Deferred charges and accrued income | 490/1 | - | €1,956 | +€1,956 | |
| Total equity and liabilities | 10/49 | €809,648 | €783,075 | -€26,573 | -3.3% |
| Equity | 10/15 | €262,515 | €244,344 | -€18,171 | -6.9% |
| Contributions | 10/11 | €86,500 | €86,500 | = | 0.0% |
| Capital | 10 | €86,500 | €86,500 | = | 0.0% |
| Issued capital | 100 | €86,500 | €86,500 | = | 0.0% |
| Reserves | 13 | €177,683 | €170,864 | -€6,819 | -3.8% |
| Non-distributable reserves | 130/1 | €602 | €602 | = | 0.0% |
| Legal reserve | 130 | €602 | €602 | = | 0.0% |
| Tax-exempt reserves | 132 | €171,238 | €164,419 | -€6,819 | -4.0% |
| Distributable reserves | 133 | €5,843 | €5,843 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,667 | -€13,020 | -€11,352 | -680.9% |
| Provisions and deferred taxes | 16 | €76,676 | €74,403 | -€2,273 | -3.0% |
| Deferred taxes | 168 | €76,676 | €74,403 | -€2,273 | -3.0% |
| Amounts payable | 17/49 | €470,457 | €464,328 | -€6,129 | -1.3% |
| Amounts payable after more than one year | 17 | €417,853 | €375,043 | -€42,810 | -10.2% |
| Financial debts | 170/4 | €417,853 | €375,043 | -€42,810 | -10.2% |
| Amounts payable within one year | 42/48 | €52,604 | €89,285 | +€36,681 | +69.7% |
| Current portion of amounts payable after more than one year | 42 | €35,003 | €35,889 | +€887 | +2.5% |
| Trade debts | 44 | €126 | €2,387 | +€2,261 | +1794.2% |
| Suppliers | 440/4 | €126 | €2,387 | +€2,261 | +1794.2% |
| Other amounts payable | 47/48 | €17,475 | €51,009 | +€33,534 | +191.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,618 | €27,671 | -€947 | -3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,960 | +€2,960 | |
| Other operating charges | 640/8 | €12,084 | €13,330 | +€1,246 | +10.3% |
| Gross operating margin | 9900 | €34,897 | €34,664 | -€233 | -0.7% |
| Operating profit (loss) | 9901 | -€5,806 | -€9,297 | -€3,492 | -60.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €11,032 | €11,148 | +€116 | +1.0% |
| Recurring financial charges | 65 | €11,032 | €11,148 | +€116 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | -€16,838 | -€20,444 | -€3,606 | -21.4% |
| Transfer from deferred taxes | 780 | €2,408 | €2,273 | -€135 | -5.6% |
| Income taxes | 67/77 | €793 | - | -€793 | |
| Profit (loss) for the period | 9904 | -€15,223 | -€18,171 | -€2,949 | -19.4% |
| Transfer from tax-exempt reserves | 789 | €7,224 | €6,819 | -€405 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,998 | -€11,352 | -€3,354 | -41.9% |
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 2 October 2026 via checked.be.