IMMO - TERM: 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 - TERM
Largest movements
- Tangible fixed assets +€256,656
up €256,656 (+37.7%), from €680,122 to €936,778
of which Land and buildings: +€255,825
- Current investments -€170,000
down €170,000 (-15.8%), from €1.1m to €904,815
- Cash +€31,899
up €31,899 (+22.2%), from €143,396 to €175,295
mainly Current investments (+€170,000) and Net result for the year (+€89,773)
- Reserves +€89,773
up €89,773 (+14.6%), from €615,462 to €705,235
of which Distributable reserves: +€90,948
- Taxes -€8,313
down €8,313 (-20.5%), from €40,502 to €32,188
- Depreciation +€4,880
up €4,880 (+7.9%), from €61,893 to €66,773
- Financial charges -€2,346
down €2,346 (-70.6%), from €3,323 to €976
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 | €1,909,796 | €2,023,434 | +€113,638 | +6.0% |
| Fixed assets | 21/28 | €680,122 | €936,778 | +€256,656 | +37.7% |
| Tangible fixed assets | 22/27 | €680,122 | €936,778 | +€256,656 | +37.7% |
| Land and buildings | 22 | €680,122 | €935,947 | +€255,825 | +37.6% |
| Furniture and vehicles | 24 | - | €831 | +€831 | |
| Current assets | 29/58 | €1,229,674 | €1,086,656 | -€143,018 | -11.6% |
| Amounts receivable within one year | 40/41 | €5,220 | €0 | -€5,220 | -100.0% |
| Other amounts receivable | 41 | €5,220 | €0 | -€5,220 | -100.0% |
| Current investments | 50/53 | €1,074,815 | €904,815 | -€170,000 | -15.8% |
| Cash at bank and in hand | 54/58 | €143,396 | €175,295 | +€31,899 | +22.2% |
| Deferred charges and accrued income | 490/1 | €6,243 | €6,546 | +€304 | +4.9% |
| Total equity and liabilities | 10/49 | €1,909,796 | €2,023,434 | +€113,638 | +6.0% |
| Equity | 10/15 | €1,165,662 | €1,255,435 | +€89,773 | +7.7% |
| Contributions | 10/11 | €550,200 | €550,200 | = | 0.0% |
| Reserves | 13 | €615,462 | €705,235 | +€89,773 | +14.6% |
| Non-distributable reserves | 130/1 | €29,006 | €29,006 | = | 0.0% |
| Reserves not available under the articles | 1311 | €29,006 | €29,006 | = | 0.0% |
| Tax-exempt reserves | 132 | €93,546 | €92,371 | -€1,175 | -1.3% |
| Distributable reserves | 133 | €492,910 | €583,858 | +€90,948 | +18.5% |
| Provisions and deferred taxes | 16 | €31,182 | €30,790 | -€392 | -1.3% |
| Deferred taxes | 168 | €31,182 | €30,790 | -€392 | -1.3% |
| Amounts payable | 17/49 | €712,952 | €737,208 | +€24,257 | +3.4% |
| Amounts payable after more than one year | 17 | €400,000 | €400,000 | = | 0.0% |
| Financial debts | 170/4 | €400,000 | €400,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €312,776 | €337,033 | +€24,257 | +7.8% |
| Trade debts | 44 | €115 | €19,952 | +€19,837 | +17249.2% |
| Suppliers | 440/4 | €115 | €19,952 | +€19,837 | +17249.2% |
| Taxes, remuneration and social security | 45 | €5,582 | €13,270 | +€7,688 | +137.7% |
| Taxes | 450/3 | €5,582 | €13,270 | +€7,688 | +137.7% |
| Other amounts payable | 47/48 | €307,080 | €303,812 | -€3,268 | -1.1% |
| Accrued charges and deferred income | 492/3 | €175 | €175 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,893 | €66,773 | +€4,880 | +7.9% |
| Other operating charges | 640/8 | €22,063 | €22,797 | +€734 | +3.3% |
| Gross operating margin | 9900 | €197,578 | €197,115 | -€464 | -0.2% |
| Operating profit (loss) | 9901 | €113,623 | €107,545 | -€6,078 | -5.3% |
| Financial income | 75/76B | €16,517 | €15,001 | -€1,516 | -9.2% |
| Recurring financial income | 75 | €16,517 | €15,001 | -€1,516 | -9.2% |
| Financial charges | 65/66B | €3,323 | €976 | -€2,346 | -70.6% |
| Recurring financial charges | 65 | €3,323 | €976 | -€2,346 | -70.6% |
| Profit (loss) for the period before taxes | 9903 | €126,817 | €121,569 | -€5,248 | -4.1% |
| Transfer from deferred taxes | 780 | €0 | €392 | +€392 | |
| Income taxes | 67/77 | €40,502 | €32,188 | -€8,313 | -20.5% |
| Profit (loss) for the period | 9904 | €86,316 | €89,773 | +€3,457 | +4.0% |
| Transfer from tax-exempt reserves | 789 | €0 | €1,175 | +€1,175 | |
| Profit (loss) for the period to be appropriated | 9905 | €86,316 | €90,948 | +€4,632 | +5.4% |
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.