IMMO STEVEDORING BELGE: 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.
What changed
IMMO STEVEDORING BELGE
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€7,939
2024 · €121,555-€129,495
Equity
€2.2m
2024 · €2.2m-€7,939
Cash
€329,059
2024 · €376,047-€46,988
Balance sheet total
€6.7m
2024 · €5.6m+€1.0m
Largest movements
Assets
- Tangible fixed assets +€1.3m
up €1.3m (+36.1%), from €3.7m to €5.0m
of which Land and buildings: +€1.3m
- Intangible fixed assets -€146,777
down €146,777 (-11.1%), from €1.3m to €1.2m
- Receivables within one year -€111,379
down €111,379 (-41.7%), from €267,118 to €155,739
of which Trade receivables: -€113,769
Equity and liabilities
- Debts after one year +€1.1m
up €1.1m (+54.8%), from €1.9m to €3.0m
- Other debts -€139,934
down €139,934 (-12.5%), from €1.1m to €983,956
- Current portion of long-term debt +€93,333
up €93,333 (+40.7%), from €229,098 to €322,431
Income statement
- Depreciation +€72,968
up €72,968 (+23.0%), from €316,820 to €389,788
- Financial charges +€31,692
up €31,692 (+92.2%), from €34,375 to €66,067
- Taxes +€28,300
up €28,300 (+138%), from €20,476 to €48,775
- Gross operating margin +€11,692
up €11,692 (+2.1%), from €558,303 to €569,995
- Other operating charges +€8,190
up €8,190 (+11.9%), from €69,082 to €77,272
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
€121,555
Gross operating margin
+€11,692
Depreciation
-€72,968
Other operating charges
-€8,190
Financial income
-€37
Financial charges
-€31,692
Taxes
-€28,300
Result 2025
-€7,939
raises the resultlowers the result
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.
From operations
+€373,868
Investment
-€1.6m
Financing
+€1.1m
Cash 2024
€376,047
From operations (derived)
+€373,868
Net result for the year
-€7,939
Depreciation
+€389,788
Receivables within one year
+€111,379
Smaller working-capital items
-€2,716
Tax, wage and social debts
-€8,752
Advances received
+€32,041
Other debts
-€139,934
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€1.6m
Financing
+€1.1m
Debts after one year
+€1.1m
Current portion of long-term debt
+€93,333
Cash 2025
€329,059
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,639,134 | €6,658,991 | +€1.0m | +18.1% |
| Fixed assets | 21/28 | €4,995,557 | €6,174,194 | +€1.2m | +23.6% |
| Intangible fixed assets | 21 | €1,320,997 | €1,174,219 | -€146,777 | -11.1% |
| Tangible fixed assets | 22/27 | €3,674,427 | €4,999,841 | +€1.3m | +36.1% |
| Land and buildings | 22 | €3,600,116 | €4,937,851 | +€1.3m | +37.2% |
| Plant, machinery and equipment | 23 | €21,476 | €18,694 | -€2,782 | -13.0% |
| Furniture and vehicles | 24 | €18,665 | €12,576 | -€6,089 | -32.6% |
| Other tangible fixed assets | 26 | €34,170 | €30,720 | -€3,451 | -10.1% |
| Financial fixed assets | 28 | €134 | €134 | = | 0.0% |
| Current assets | 29/58 | €643,577 | €484,797 | -€158,779 | -24.7% |
| Amounts receivable within one year | 40/41 | €267,118 | €155,739 | -€111,379 | -41.7% |
| Trade receivables | 40 | €180,546 | €66,777 | -€113,769 | -63.0% |
| Other amounts receivable | 41 | €86,572 | €88,962 | +€2,389 | +2.8% |
| Cash at bank and in hand | 54/58 | €376,047 | €329,059 | -€46,988 | -12.5% |
| Deferred charges and accrued income | 490/1 | €411 | - | -€411 | |
| Total equity and liabilities | 10/49 | €5,639,134 | €6,658,991 | +€1.0m | +18.1% |
| Equity | 10/15 | €2,232,622 | €2,224,683 | -€7,939 | -0.4% |
| Contributions | 10/11 | €362,000 | €362,000 | = | 0.0% |
| Capital | 10 | €362,000 | €362,000 | = | 0.0% |
| Issued capital | 100 | €362,000 | €362,000 | = | 0.0% |
| Revaluation surpluses | 12 | €215,667 | €215,667 | = | 0.0% |
| Reserves | 13 | €1,871,639 | €1,864,171 | -€7,468 | -0.4% |
| Non-distributable reserves | 130/1 | €36,200 | €36,200 | = | 0.0% |
| Legal reserve | 130 | €36,200 | €36,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,395,675 | €1,241,430 | -€154,245 | -11.1% |
| Distributable reserves | 133 | €439,764 | €586,541 | +€146,777 | +33.4% |
| Profit (loss) carried forward | 14 | -€216,684 | -€217,156 | -€472 | -0.2% |
| Provisions and deferred taxes | 16 | €74,129 | €70,284 | -€3,845 | -5.2% |
| Provisions for liabilities and charges | 160/5 | €35,676 | €35,676 | = | 0.0% |
| Major repairs and maintenance | 162 | €35,676 | €35,676 | = | 0.0% |
| Deferred taxes | 168 | €38,454 | €34,608 | -€3,845 | -10.0% |
| Amounts payable | 17/49 | €3,332,383 | €4,364,025 | +€1.0m | +31.0% |
| Amounts payable after more than one year | 17 | €1,922,089 | €2,976,325 | +€1.1m | +54.8% |
| Financial debts | 170/4 | €1,922,089 | €2,976,325 | +€1.1m | +54.8% |
| Amounts payable within one year | 42/48 | €1,398,023 | €1,375,180 | -€22,843 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €229,098 | €322,431 | +€93,333 | +40.7% |
| Trade debts | 44 | €6,245 | €6,714 | +€468 | +7.5% |
| Suppliers | 440/4 | €6,245 | €6,714 | +€468 | +7.5% |
| Advances received on contracts in progress | 46 | €0 | €32,041 | +€32,041 | |
| Taxes, remuneration and social security | 45 | €38,789 | €30,038 | -€8,752 | -22.6% |
| Taxes | 450/3 | €38,789 | €30,038 | -€8,752 | -22.6% |
| Other amounts payable | 47/48 | €1,123,890 | €983,956 | -€139,934 | -12.5% |
| Accrued charges and deferred income | 492/3 | €12,271 | €12,520 | +€249 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €316,820 | €389,788 | +€72,968 | +23.0% |
| Other operating charges | 640/8 | €69,082 | €77,272 | +€8,190 | +11.9% |
| Gross operating margin | 9900 | €558,303 | €569,995 | +€11,692 | +2.1% |
| Operating profit (loss) | 9901 | €172,401 | €102,935 | -€69,466 | -40.3% |
| Financial income | 75/76B | €160 | €123 | -€37 | -23.0% |
| Recurring financial income | 75 | €160 | €123 | -€37 | -23.0% |
| Financial charges | 65/66B | €34,375 | €66,067 | +€31,692 | +92.2% |
| Recurring financial charges | 65 | €34,375 | €66,067 | +€31,692 | +92.2% |
| Profit (loss) for the period before taxes | 9903 | €138,186 | €36,991 | -€101,195 | -73.2% |
| Transfer from deferred taxes | 780 | €3,845 | €3,845 | = | 0.0% |
| Income taxes | 67/77 | €20,476 | €48,775 | +€28,300 | +138% |
| Profit (loss) for the period | 9904 | €121,555 | -€7,939 | -€129,495 | |
| Transfer from tax-exempt reserves | 789 | €7,468 | €7,468 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €1,683,441 | - | -€1.7m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,554,418 | -€472 | +€1.6m | +100.0% |
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 31 October 2026 via checked.be.