IMMO STUBBE: 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 STUBBE
Largest movements
- Current investments +€2.1m
up €2.1m (+779.1%), from €264,141 to €2.3m
- Cash -€2.0m
down €2.0m (-81.5%), from €2.5m to €454,946
mainly Current investments (-€2.1m) and Investment in fixed assets (net) (-€604,627)
- Tangible fixed assets +€292,753
up €292,753 (+6.1%), from €4.8m to €5.1m
- Reserves +€514,892
up €514,892 (+25.4%), from €2.0m to €2.5m
of which Distributable reserves: +€514,892
- Debts after one year -€298,026
down €298,026 (-100.0%), from €298,026 to €0
- Gross operating margin -€110,260
down €110,260 (-10.2%), from €1.1m to €972,943
- Financial income +€82,335
up €82,335 (+130.4%), from €63,135 to €145,471
- Financial charges +€70,623
up €70,623 (+274.6%), from €25,722 to €96,345
- Taxes -€21,493
down €21,493 (-12.1%), from €177,387 to €155,894
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 | €7,650,305 | €7,927,855 | +€277,550 | +3.6% |
| Fixed assets | 21/28 | €4,834,931 | €5,127,684 | +€292,753 | +6.1% |
| Tangible fixed assets | 22/27 | €4,834,931 | €5,127,684 | +€292,753 | +6.1% |
| Land and buildings | 22 | €4,834,931 | €5,127,684 | +€292,753 | +6.1% |
| Current assets | 29/58 | €2,815,374 | €2,800,171 | -€15,203 | -0.5% |
| Amounts receivable within one year | 40/41 | €83,828 | €12,867 | -€70,961 | -84.7% |
| Trade receivables | 40 | €79,028 | €12,362 | -€66,665 | -84.4% |
| Other amounts receivable | 41 | €4,800 | €505 | -€4,295 | -89.5% |
| Current investments | 50/53 | €264,141 | €2,322,020 | +€2.1m | +779.1% |
| Cash at bank and in hand | 54/58 | €2,456,075 | €454,946 | -€2.0m | -81.5% |
| Deferred charges and accrued income | 490/1 | €11,330 | €10,338 | -€993 | -8.8% |
| Total equity and liabilities | 10/49 | €7,650,305 | €7,927,855 | +€277,550 | +3.6% |
| Equity | 10/15 | €6,440,957 | €6,955,849 | +€514,892 | +8.0% |
| Contributions | 10/11 | €3,871,000 | €3,871,000 | = | 0.0% |
| Reserves | 13 | €2,029,957 | €2,544,849 | +€514,892 | +25.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,029,957 | €2,544,849 | +€514,892 | +25.4% |
| Profit (loss) carried forward | 14 | €540,000 | €540,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,209,348 | €972,006 | -€237,342 | -19.6% |
| Amounts payable after more than one year | 17 | €298,026 | €0 | -€298,026 | -100.0% |
| Financial debts | 170/4 | €298,026 | €0 | -€298,026 | -100.0% |
| Amounts payable within one year | 42/48 | €910,522 | €972,006 | +€61,484 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €341,908 | €298,026 | -€43,881 | -12.8% |
| Trade debts | 44 | €1,954 | €70,703 | +€68,748 | +3517.7% |
| Suppliers | 440/4 | €1,954 | €70,703 | +€68,748 | +3517.7% |
| Taxes, remuneration and social security | 45 | €4,299 | €1,400 | -€2,899 | -67.4% |
| Taxes | 450/3 | €4,299 | €1,400 | -€2,899 | -67.4% |
| Other amounts payable | 47/48 | €562,360 | €601,877 | +€39,517 | +7.0% |
| Accrued charges and deferred income | 492/3 | €800 | €0 | -€800 | -100.0% |
| Non-recurring operating income | 76A | €155,447 | €0 | -€155,447 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €314,428 | €311,874 | -€2,554 | -0.8% |
| Other operating charges | 640/8 | €37,483 | €39,409 | +€1,926 | +5.1% |
| Gross operating margin | 9900 | €1,083,203 | €972,943 | -€110,260 | -10.2% |
| Operating profit (loss) | 9901 | €731,292 | €621,661 | -€109,631 | -15.0% |
| Financial income | 75/76B | €63,135 | €145,471 | +€82,335 | +130.4% |
| Recurring financial income | 75 | €63,135 | €145,471 | +€82,335 | +130.4% |
| Financial charges | 65/66B | €25,722 | €96,345 | +€70,623 | +274.6% |
| Recurring financial charges | 65 | €25,722 | €96,345 | +€70,623 | +274.6% |
| Profit (loss) for the period before taxes | 9903 | €768,705 | €670,786 | -€97,919 | -12.7% |
| Income taxes | 67/77 | €177,387 | €155,894 | -€21,493 | -12.1% |
| Profit (loss) for the period | 9904 | €591,318 | €514,892 | -€76,426 | -12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €591,318 | €514,892 | -€76,426 | -12.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.