IMMO TRADECO: 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 TRADECO
Largest movements
- Current investments +€270,000
up €270,000 (+90.0%), from €300,000 to €570,000
- Tangible fixed assets -€197,857
down €197,857 (-9.6%), from €2.1m to €1.9m
of which Land and buildings: -€190,696
- Receivables within one year -€149,165
down €149,165 (-57.4%), from €259,746 to €110,582
of which Trade receivables: -€148,665
- Cash +€34,329
up €34,329 (+139%), from €24,678 to €59,007
mainly Depreciation (+€197,857) and Net result for the year (+€166,636)
- Reserves +€166,636
up €166,636 (+7.7%), from €2.2m to €2.3m
of which Distributable reserves: +€201,189
- Other debts -€109,607
down €109,607 (-72.7%), from €150,725 to €41,118
- Trade debts -€91,128
down €91,128 (-62.6%), from €145,675 to €54,547
- Gross operating margin +€133,525
up €133,525 (+32.6%), from €409,813 to €543,339
- Staff costs +€81,715
new in 2025: €81,715
- Other operating charges +€62,530
up €62,530 (+666%), from €9,391 to €71,921
- Depreciation -€42,408
down €42,408 (-17.7%), from €240,265 to €197,857
- Taxes +€9,761
up €9,761 (+23.9%), from €40,920 to €50,680
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,643,215 | €2,605,121 | -€38,094 | -1.4% |
| Fixed assets | 21/28 | €2,058,790 | €1,860,933 | -€197,857 | -9.6% |
| Tangible fixed assets | 22/27 | €2,058,790 | €1,860,933 | -€197,857 | -9.6% |
| Land and buildings | 22 | €2,027,180 | €1,836,484 | -€190,696 | -9.4% |
| Plant, machinery and equipment | 23 | €2,907 | €0 | -€2,907 | -100% |
| Furniture and vehicles | 24 | €28,703 | €24,449 | -€4,254 | -14.8% |
| Current assets | 29/58 | €584,424 | €744,188 | +€159,763 | +27.3% |
| Amounts receivable within one year | 40/41 | €259,746 | €110,582 | -€149,165 | -57.4% |
| Trade receivables | 40 | €208,949 | €60,284 | -€148,665 | -71.1% |
| Other amounts receivable | 41 | €50,797 | €50,297 | -€500 | -1.0% |
| Current investments | 50/53 | €300,000 | €570,000 | +€270,000 | +90.0% |
| Cash at bank and in hand | 54/58 | €24,678 | €59,007 | +€34,329 | +139% |
| Deferred charges and accrued income | 490/1 | - | €4,599 | +€4,599 | |
| Total equity and liabilities | 10/49 | €2,643,215 | €2,605,121 | -€38,094 | -1.4% |
| Equity | 10/15 | €2,346,815 | €2,496,322 | +€149,507 | +6.4% |
| Contributions | 10/11 | €28,638 | €28,638 | = | 0.0% |
| Reserves | 13 | €2,163,405 | €2,330,041 | +€166,636 | +7.7% |
| Non-distributable reserves | 130/1 | €2,864 | €2,864 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,864 | €2,864 | = | 0.0% |
| Tax-exempt reserves | 132 | €82,504 | €47,951 | -€34,553 | -41.9% |
| Distributable reserves | 133 | €2,078,038 | €2,279,227 | +€201,189 | +9.7% |
| Investment grants | 15 | €154,772 | €137,643 | -€17,129 | -11.1% |
| Amounts payable | 17/49 | €296,400 | €108,799 | -€187,601 | -63.3% |
| Amounts payable within one year | 42/48 | €296,400 | €108,799 | -€187,601 | -63.3% |
| Trade debts | 44 | €145,675 | €54,547 | -€91,128 | -62.6% |
| Suppliers | 440/4 | €145,675 | €54,547 | -€91,128 | -62.6% |
| Taxes, remuneration and social security | 45 | - | €13,133 | +€13,133 | |
| Taxes | 450/3 | - | €8,232 | +€8,232 | |
| Remuneration and social security | 454/9 | - | €4,902 | +€4,902 | |
| Other amounts payable | 47/48 | €150,725 | €41,118 | -€109,607 | -72.7% |
| Remuneration, social security and pensions | 62 | - | €81,715 | +€81,715 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €240,265 | €197,857 | -€42,408 | -17.7% |
| Other operating charges | 640/8 | €9,391 | €71,921 | +€62,530 | +666% |
| Gross operating margin | 9900 | €409,813 | €543,339 | +€133,525 | +32.6% |
| Operating profit (loss) | 9901 | €160,157 | €191,846 | +€31,688 | +19.8% |
| Financial income | 75/76B | €24,093 | €25,568 | +€1,474 | +6.1% |
| Recurring financial income | 75 | €24,093 | €25,568 | +€1,474 | +6.1% |
| Financial charges | 65/66B | -€13 | €97 | +€109 | |
| Recurring financial charges | 65 | -€13 | €97 | +€109 | |
| Profit (loss) for the period before taxes | 9903 | €184,263 | €217,317 | +€33,053 | +17.9% |
| Income taxes | 67/77 | €40,920 | €50,680 | +€9,761 | +23.9% |
| Profit (loss) for the period | 9904 | €143,344 | €166,636 | +€23,293 | +16.2% |
| Transfer from tax-exempt reserves | 789 | - | €34,553 | +€34,553 | |
| Profit (loss) for the period to be appropriated | 9905 | €143,344 | €201,189 | +€57,846 | +40.4% |
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 23 October 2026 via checked.be.