IMMO STUCKENS-M: 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 STUCKENS-M
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€236,327
2024 · €220,400+€15,928
Equity
€3.5m
2024 · €3.3m+€236,327
Cash
€131,450
2024 · €160,162-€28,712
Balance sheet total
€9.6m
2024 · €10.2m-€570,683
Largest movements
Assets
- Current investments -€325,000
down €325,000 (-100%), from €325,000 to €0
- Tangible fixed assets -€307,511
down €307,511 (-3.8%), from €8.1m to €7.7m
of which Land and buildings: -€307,511
Equity and liabilities
- Debts after one year -€351,509
down €351,509 (-12.4%), from €2.8m to €2.5m
- Reserves +€236,327
up €236,327 (+16.0%), from €1.5m to €1.7m
of which Distributable reserves: +€236,327
- Short-term financial debts -€196,667
down €196,667 (-14.3%), from €1.4m to €1.2m
- Other debts -€188,015
down €188,015 (-8.5%), from €2.2m to €2.0m
Income statement
- Financial charges -€35,140
down €35,140 (-14.9%), from €235,617 to €200,477
- Gross operating margin -€16,173
down €16,173 (-1.6%), from €1.0m to €1.0m
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
€220,400
Gross operating margin
-€16,173
Depreciation
+€1,703
Write-downs
-€4,934
Other operating charges
-€3,275
Financial income
+€8,775
Financial charges
+€35,140
Taxes
-€5,309
Result 2025
€236,327
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
+€257,519
Investment
+€252,897
Financing
-€539,128
Cash 2024
€160,162
From operations (derived)
+€257,519
Net result for the year
+€236,327
Depreciation
+€379,614
Receivables within one year
-€90,540
Trade debts
+€32,621
Tax, wage and social debts
-€27,346
Other debts
-€188,015
Accrued charges and deferred income
-€85,142
Investment (derived)
+€252,897
Investment in fixed assets (net)
-€72,103
Current investments
+€325,000
Financing
-€539,128
Debts after one year
-€351,509
Current portion of long-term debt
+€9,048
Short-term financial debts
-€196,667
Cash 2025
€131,450
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,181,983 | €9,611,300 | -€570,683 | -5.6% |
| Fixed assets | 21/28 | €9,489,226 | €9,181,715 | -€307,511 | -3.2% |
| Tangible fixed assets | 22/27 | €8,056,560 | €7,749,049 | -€307,511 | -3.8% |
| Land and buildings | 22 | €8,056,560 | €7,749,049 | -€307,511 | -3.8% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Financial fixed assets | 28 | €1,432,666 | €1,432,666 | = | 0.0% |
| Current assets | 29/58 | €692,757 | €429,585 | -€263,172 | -38.0% |
| Amounts receivable within one year | 40/41 | €207,595 | €298,135 | +€90,540 | +43.6% |
| Trade receivables | 40 | €206,620 | €42,722 | -€163,897 | -79.3% |
| Other amounts receivable | 41 | €975 | €255,413 | +€254,438 | +26,085% |
| Current investments | 50/53 | €325,000 | €0 | -€325,000 | -100% |
| Cash at bank and in hand | 54/58 | €160,162 | €131,450 | -€28,712 | -17.9% |
| Total equity and liabilities | 10/49 | €10,181,983 | €9,611,300 | -€570,683 | -5.6% |
| Equity | 10/15 | €3,258,949 | €3,495,276 | +€236,327 | +7.3% |
| Contributions | 10/11 | €66,000 | €66,000 | = | 0.0% |
| Capital | 10 | €66,000 | €66,000 | = | 0.0% |
| Issued capital | 100 | €66,000 | €66,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,715,822 | €1,715,822 | = | 0.0% |
| Reserves | 13 | €1,477,127 | €1,713,454 | +€236,327 | +16.0% |
| Non-distributable reserves | 130/1 | €6,600 | €6,600 | = | 0.0% |
| Legal reserve | 130 | €6,600 | €6,600 | = | 0.0% |
| Distributable reserves | 133 | €1,470,527 | €1,706,854 | +€236,327 | +16.1% |
| Amounts payable | 17/49 | €6,923,034 | €6,116,024 | -€807,010 | -11.7% |
| Amounts payable after more than one year | 17 | €2,840,724 | €2,489,214 | -€351,509 | -12.4% |
| Financial debts | 170/4 | €2,840,724 | €2,489,214 | -€351,509 | -12.4% |
| Amounts payable within one year | 42/48 | €3,975,788 | €3,605,428 | -€370,359 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €342,461 | €351,509 | +€9,048 | +2.6% |
| Financial debts | 43 | €1,376,667 | €1,180,000 | -€196,667 | -14.3% |
| Credit institutions | 430/8 | €1,376,667 | €1,180,000 | -€196,667 | -14.3% |
| Trade debts | 44 | €2,492 | €35,112 | +€32,621 | +1,309% |
| Suppliers | 440/4 | €2,492 | €35,112 | +€32,621 | +1,309% |
| Taxes, remuneration and social security | 45 | €53,980 | €26,634 | -€27,346 | -50.7% |
| Taxes | 450/3 | €53,980 | €26,634 | -€27,346 | -50.7% |
| Other amounts payable | 47/48 | €2,200,188 | €2,012,173 | -€188,015 | -8.5% |
| Accrued charges and deferred income | 492/3 | €106,523 | €21,381 | -€85,142 | -79.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €381,317 | €379,614 | -€1,703 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €4,934 | +€4,934 | |
| Other operating charges | 640/8 | €110,115 | €113,390 | +€3,275 | +3.0% |
| Gross operating margin | 9900 | €1,020,908 | €1,004,735 | -€16,173 | -1.6% |
| Operating profit (loss) | 9901 | €529,477 | €506,798 | -€22,678 | -4.3% |
| Financial income | 75/76B | €807 | €9,582 | +€8,775 | +1,088% |
| Recurring financial income | 75 | €807 | €9,582 | +€8,775 | +1,088% |
| Financial charges | 65/66B | €235,617 | €200,477 | -€35,140 | -14.9% |
| Recurring financial charges | 65 | €235,617 | €200,477 | -€35,140 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €294,666 | €315,903 | +€21,237 | +7.2% |
| Income taxes | 67/77 | €74,267 | €79,576 | +€5,309 | +7.1% |
| Profit (loss) for the period | 9904 | €220,400 | €236,327 | +€15,928 | +7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €220,400 | €236,327 | +€15,928 | +7.2% |
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 27 October 2026 via checked.be.