IMMO STRUYSHOEVE: 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 STRUYSHOEVE
Largest movements
- Tangible fixed assets -€39,113
down €39,113 (-2.9%), from €1.4m to €1.3m
of which Land and buildings: -€21,036
- Cash +€29,825
up €29,825 (+276.7%), from €10,781 to €40,606
mainly Depreciation (+€68,462) and Net result for the year (+€13,479)
- Debts after one year -€31,511
down €31,511 (-45.9%), from €68,591 to €37,080
- Gross operating margin +€8,565
up €8,565 (+6.7%), from €128,285 to €136,850
- Taxes +€5,124
up €5,124 (+169.8%), from €3,018 to €8,142
- Other operating charges -€4,535
down €4,535 (-9.1%), from €49,790 to €45,255
- Depreciation +€2,208
up €2,208 (+3.3%), from €66,254 to €68,462
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 | €1,401,641 | €1,378,082 | -€23,559 | -1.7% |
| Fixed assets | 21/28 | €1,362,449 | €1,323,336 | -€39,113 | -2.9% |
| Tangible fixed assets | 22/27 | €1,362,449 | €1,323,336 | -€39,113 | -2.9% |
| Land and buildings | 22 | €1,296,605 | €1,275,569 | -€21,036 | -1.6% |
| Plant, machinery and equipment | 23 | €26,784 | €23,495 | -€3,288 | -12.3% |
| Furniture and vehicles | 24 | €35,281 | €21,168 | -€14,112 | -40.0% |
| Other tangible fixed assets | 26 | €3,780 | €3,103 | -€677 | -17.9% |
| Current assets | 29/58 | €39,192 | €54,746 | +€15,554 | +39.7% |
| Amounts receivable within one year | 40/41 | €26,242 | €12,795 | -€13,447 | -51.2% |
| Other amounts receivable | 41 | €26,242 | €12,795 | -€13,447 | -51.2% |
| Cash at bank and in hand | 54/58 | €10,781 | €40,606 | +€29,825 | +276.7% |
| Deferred charges and accrued income | 490/1 | €2,170 | €1,345 | -€824 | -38.0% |
| Total equity and liabilities | 10/49 | €1,401,641 | €1,378,082 | -€23,559 | -1.7% |
| Equity | 10/15 | €1,272,292 | €1,285,840 | +€13,547 | +1.1% |
| Contributions | 10/11 | €963,953 | €963,953 | = | 0.0% |
| Capital | 10 | €963,953 | €963,953 | = | 0.0% |
| Issued capital | 100 | €963,953 | €963,953 | = | 0.0% |
| Reserves | 13 | €308,340 | €321,887 | +€13,547 | +4.4% |
| Non-distributable reserves | 130/1 | €96,395 | €96,395 | = | 0.0% |
| Legal reserve | 130 | €96,395 | €96,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,078 | €21,662 | -€5,416 | -20.0% |
| Distributable reserves | 133 | €184,867 | €203,830 | +€18,963 | +10.3% |
| Provisions and deferred taxes | 16 | €13,943 | €11,154 | -€2,789 | -20.0% |
| Deferred taxes | 168 | €13,943 | €11,154 | -€2,789 | -20.0% |
| Amounts payable | 17/49 | €115,406 | €81,088 | -€34,318 | -29.7% |
| Amounts payable after more than one year | 17 | €68,591 | €37,080 | -€31,511 | -45.9% |
| Financial debts | 170/4 | €68,591 | €37,080 | -€31,511 | -45.9% |
| Amounts payable within one year | 42/48 | €46,815 | €44,008 | -€2,807 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €35,813 | €36,811 | +€999 | +2.8% |
| Trade debts | 44 | €10,667 | €7,197 | -€3,471 | -32.5% |
| Suppliers | 440/4 | €10,667 | €7,197 | -€3,471 | -32.5% |
| Other amounts payable | 47/48 | €335 | - | -€335 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,254 | €68,462 | +€2,208 | +3.3% |
| Other operating charges | 640/8 | €49,790 | €45,255 | -€4,535 | -9.1% |
| Gross operating margin | 9900 | €128,285 | €136,850 | +€8,565 | +6.7% |
| Operating profit (loss) | 9901 | €12,241 | €23,133 | +€10,892 | +89.0% |
| Financial income | 75/76B | €65 | €78 | +€14 | +21.0% |
| Recurring financial income | 75 | €65 | €78 | +€14 | +21.0% |
| Financial charges | 65/66B | €3,316 | €2,985 | -€331 | -10.0% |
| Recurring financial charges | 65 | €3,316 | €2,985 | -€331 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €8,990 | €20,226 | +€11,236 | +125.0% |
| Transfer from deferred taxes | 780 | - | €1,394 | +€1,394 | |
| Income taxes | 67/77 | €3,018 | €8,142 | +€5,124 | +169.8% |
| Profit (loss) for the period | 9904 | €5,972 | €13,479 | +€7,506 | +125.7% |
| Transfer from tax-exempt reserves | 789 | - | €2,708 | +€2,708 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,972 | €16,186 | +€10,214 | +171.0% |
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 12 October 2026 via checked.be.