IMMO-STRUCTURES: 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.
IMMO-STRUCTURES
Largest movements
- Tangible fixed assets -€73,379
down €73,379 (-9.5%), from €770,879 to €697,501
- Receivables within one year -€12,665
down €12,665 (-6.9%), from €183,394 to €170,729
of which Trade receivables: -€14,533
- Current portion of long-term debt -€73,640
down €73,640 (-53.4%), from €137,818 to €64,179
- Profit (loss) carried forward -€26,434
down €26,434, from €10,324 to -€16,110
- Debts after one year +€19,336
up €19,336 (+5.1%), from €380,291 to €399,627
- Gross operating margin -€41,963
down €41,963 (-27.2%), from €154,253 to €112,290
- Depreciation -€32,894
down €32,894 (-31.0%), from €106,272 to €73,379
- Financial charges +€17,760
up €17,760 (+54.7%), from €32,468 to €50,228
- Write-downs +€3,736
no longer reported in 2025 (was -€3,736)
- Taxes -€3,182
down €3,182, from €1,147 to -€2,035
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 | €1,004,332 | €918,354 | -€85,978 | -8.6% |
| Fixed assets | 21/28 | €820,879 | €747,501 | -€73,379 | -8.9% |
| Tangible fixed assets | 22/27 | €770,879 | €697,501 | -€73,379 | -9.5% |
| Land and buildings | 22 | €721,149 | €685,120 | -€36,029 | -5.0% |
| Plant, machinery and equipment | 23 | €48,249 | €12,381 | -€35,868 | -74.3% |
| Furniture and vehicles | 24 | €1,482 | €0 | -€1,482 | -100.0% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €183,452 | €170,853 | -€12,599 | -6.9% |
| Amounts receivable within one year | 40/41 | €183,394 | €170,729 | -€12,665 | -6.9% |
| Trade receivables | 40 | €97,630 | €83,097 | -€14,533 | -14.9% |
| Other amounts receivable | 41 | €85,763 | €87,632 | +€1,869 | +2.2% |
| Cash at bank and in hand | 54/58 | €59 | €124 | +€66 | +111.7% |
| Total equity and liabilities | 10/49 | €1,004,332 | €918,354 | -€85,978 | -8.6% |
| Equity | 10/15 | €460,931 | €434,497 | -€26,434 | -5.7% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Capital | 10 | €450,000 | €450,000 | = | 0.0% |
| Issued capital | 100 | €450,000 | €450,000 | = | 0.0% |
| Reserves | 13 | €607 | €607 | = | 0.0% |
| Non-distributable reserves | 130/1 | €607 | €607 | = | 0.0% |
| Legal reserve | 130 | €607 | €607 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,324 | -€16,110 | -€26,434 | |
| Amounts payable | 17/49 | €543,400 | €483,857 | -€59,544 | -11.0% |
| Amounts payable after more than one year | 17 | €380,291 | €399,627 | +€19,336 | +5.1% |
| Financial debts | 170/4 | €380,291 | €399,627 | +€19,336 | +5.1% |
| Amounts payable within one year | 42/48 | €163,109 | €84,230 | -€78,880 | -48.4% |
| Current portion of amounts payable after more than one year | 42 | €137,818 | €64,179 | -€73,640 | -53.4% |
| Trade debts | 44 | €15,703 | €12,917 | -€2,786 | -17.7% |
| Suppliers | 440/4 | €15,703 | €12,917 | -€2,786 | -17.7% |
| Taxes, remuneration and social security | 45 | €3,182 | €727 | -€2,455 | -77.1% |
| Taxes | 450/3 | €3,182 | €727 | -€2,455 | -77.1% |
| Other amounts payable | 47/48 | €6,407 | €6,407 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,272 | €73,379 | -€32,894 | -31.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,736 | - | +€3,736 | |
| Other operating charges | 640/8 | €16,580 | €17,152 | +€572 | +3.5% |
| Gross operating margin | 9900 | €154,253 | €112,290 | -€41,963 | -27.2% |
| Operating profit (loss) | 9901 | €35,136 | €21,759 | -€13,377 | -38.1% |
| Financial charges | 65/66B | €32,468 | €50,228 | +€17,760 | +54.7% |
| Recurring financial charges | 65 | €32,468 | €50,228 | +€17,760 | +54.7% |
| Profit (loss) for the period before taxes | 9903 | €2,668 | -€28,469 | -€31,137 | |
| Income taxes | 67/77 | €1,147 | -€2,035 | -€3,182 | |
| Profit (loss) for the period | 9904 | €1,521 | -€26,434 | -€27,955 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,521 | -€26,434 | -€27,955 |
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.