Immo Taelman: 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 Taelman
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€63,758
2024 · €16,212+€47,545
Equity
€1.2m
2024 · €1.2m+€8,758
Cash
€350,998
2024 · €75,063+€275,936
Balance sheet total
€1.5m
2024 · €1.5m+€48,093
Largest movements
Assets
- Cash +€275,936
up €275,936 (+368%), from €75,063 to €350,998
mainly Stocks and contracts (+€198,546) and Other debts (+€76,451)
- Stocks and contracts -€198,546
down €198,546 (-24.2%), from €821,037 to €622,490
- Tangible fixed assets -€23,276
down €23,276 (-8.3%), from €279,495 to €256,219
of which Land and buildings: -€23,438
Equity and liabilities
- Other debts +€76,451
up €76,451 (+35.5%), from €215,280 to €291,731
Income statement
- Gross operating margin +€56,466
up €56,466 (+88.9%), from €63,496 to €119,962
- Taxes +€26,367
up €26,367 (+568%), from €4,642 to €31,009
- Staff costs -€15,180
down €15,180 (-100%), from €15,180 to €0
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
€16,212
Gross operating margin
+€56,466
Staff costs
+€15,180
Depreciation
+€432
Other operating charges
+€716
Financial income
+€200
Financial charges
+€918
Taxes
-€26,367
Result 2025
€63,758
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
+€368,921
Investment
-€1,138
Financing
-€91,847
Cash 2024
€75,063
From operations (derived)
+€368,921
Net result for the year
+€63,758
Depreciation
+€24,414
Stocks and contracts
+€198,546
Receivables within one year
+€2,510
Deferred charges and accrued income
+€3,511
Smaller working-capital items
-€268
Other debts
+€76,451
Investment (derived)
-€1,138
Investment in fixed assets (net)
-€1,138
Financing
-€91,847
Debts after one year
-€10,861
Current portion of long-term debt
-€12,345
Short-term financial debts
-€13,642
Contributions, distributions and other
-€55,000
Cash 2025
€350,998
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,481,429 | €1,529,522 | +€48,093 | +3.2% |
| Fixed assets | 21/28 | €279,495 | €256,219 | -€23,276 | -8.3% |
| Tangible fixed assets | 22/27 | €279,495 | €256,219 | -€23,276 | -8.3% |
| Land and buildings | 22 | €276,307 | €252,869 | -€23,438 | -8.5% |
| Furniture and vehicles | 24 | €3,188 | €3,350 | +€162 | +5.1% |
| Current assets | 29/58 | €1,201,934 | €1,273,304 | +€71,369 | +5.9% |
| Stocks and contracts in progress | 3 | €821,037 | €622,490 | -€198,546 | -24.2% |
| Stocks | 30/36 | €821,037 | €622,490 | -€198,546 | -24.2% |
| Amounts receivable within one year | 40/41 | €301,037 | €298,527 | -€2,510 | -0.8% |
| Trade receivables | 40 | €90,543 | €76,234 | -€14,309 | -15.8% |
| Other amounts receivable | 41 | €210,494 | €222,294 | +€11,800 | +5.6% |
| Cash at bank and in hand | 54/58 | €75,063 | €350,998 | +€275,936 | +368% |
| Deferred charges and accrued income | 490/1 | €4,798 | €1,288 | -€3,511 | -73.2% |
| Total equity and liabilities | 10/49 | €1,481,429 | €1,529,522 | +€48,093 | +3.2% |
| Equity | 10/15 | €1,212,945 | €1,221,703 | +€8,758 | +0.7% |
| Contributions | 10/11 | €520,000 | €520,000 | = | 0.0% |
| Reserves | 13 | €692,945 | €701,703 | +€8,758 | +1.3% |
| Non-distributable reserves | 130/1 | €26,809 | €26,809 | = | 0.0% |
| Reserves not available under the articles | 1311 | €26,809 | €26,809 | = | 0.0% |
| Distributable reserves | 133 | €666,136 | €674,894 | +€8,758 | +1.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €268,484 | €307,819 | +€39,335 | +14.7% |
| Amounts payable after more than one year | 17 | €10,861 | €0 | -€10,861 | -100% |
| Financial debts | 170/4 | €10,861 | €0 | -€10,861 | -100% |
| Amounts payable within one year | 42/48 | €257,623 | €307,819 | +€50,196 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €23,206 | €10,861 | -€12,345 | -53.2% |
| Financial debts | 43 | €13,642 | €0 | -€13,642 | -100% |
| Credit institutions | 430/8 | €13,642 | €0 | -€13,642 | -100% |
| Trade debts | 44 | €5,496 | €5,206 | -€290 | -5.3% |
| Suppliers | 440/4 | €5,496 | €5,206 | -€290 | -5.3% |
| Taxes, remuneration and social security | 45 | €0 | €21 | +€21 | |
| Taxes | 450/3 | - | €21 | +€21 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €215,280 | €291,731 | +€76,451 | +35.5% |
| Remuneration, social security and pensions | 62 | €15,180 | €0 | -€15,180 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,846 | €24,414 | -€432 | -1.7% |
| Other operating charges | 640/8 | €5,683 | €4,967 | -€716 | -12.6% |
| Gross operating margin | 9900 | €63,496 | €119,962 | +€56,466 | +88.9% |
| Operating profit (loss) | 9901 | €17,787 | €90,582 | +€72,795 | +409% |
| Financial income | 75/76B | €5,993 | €6,192 | +€200 | +3.3% |
| Recurring financial income | 75 | €5,993 | €6,192 | +€200 | +3.3% |
| Financial charges | 65/66B | €2,926 | €2,007 | -€918 | -31.4% |
| Recurring financial charges | 65 | €2,926 | €2,007 | -€918 | -31.4% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €20,854 | €94,767 | +€73,913 | +354% |
| Income taxes | 67/77 | €4,642 | €31,009 | +€26,367 | +568% |
| Profit (loss) for the period | 9904 | €16,212 | €63,758 | +€47,545 | +293% |
| Profit (loss) for the period to be appropriated | 9905 | €16,212 | €63,758 | +€47,545 | +293% |
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 18 October 2026 via checked.be.