IMMO V.: 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 V.
Largest movements
- Tangible fixed assets -€174,015
down €174,015 (-4.5%), from €3.9m to €3.7m
of which Land and buildings: -€185,276
- Debts after one year -€263,341
down €263,341 (-24.1%), from €1.1m to €827,203
- Other debts +€139,531
up €139,531 (+11.9%), from €1.2m to €1.3m
- Accrued charges and deferred income -€44,860
down €44,860 (-88.4%), from €50,768 to €5,908
- Financial charges -€46,806
down €46,806 (-63.9%), from €73,245 to €26,440
- Gross operating margin -€27,952
down €27,952 (-9.3%), from €300,045 to €272,093
- Depreciation +€13,667
up €13,667 (+6.8%), from €201,613 to €215,281
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 | €4,020,474 | €3,823,753 | -€196,721 | -4.9% |
| Fixed assets | 21/28 | €3,891,618 | €3,717,603 | -€174,015 | -4.5% |
| Tangible fixed assets | 22/27 | €3,891,618 | €3,717,603 | -€174,015 | -4.5% |
| Land and buildings | 22 | €3,891,618 | €3,706,342 | -€185,276 | -4.8% |
| Furniture and vehicles | 24 | - | €11,261 | +€11,261 | |
| Current assets | 29/58 | €128,856 | €106,150 | -€22,706 | -17.6% |
| Amounts receivable within one year | 40/41 | €86,588 | €82,778 | -€3,811 | -4.4% |
| Trade receivables | 40 | €61,634 | €62,442 | +€809 | +1.3% |
| Other amounts receivable | 41 | €24,955 | €20,335 | -€4,620 | -18.5% |
| Cash at bank and in hand | 54/58 | €42,267 | €23,372 | -€18,895 | -44.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €4,020,474 | €3,823,753 | -€196,721 | -4.9% |
| Equity | 10/15 | €1,403,355 | €1,408,978 | +€5,623 | +0.4% |
| Contributions | 10/11 | €1,145,950 | €1,145,950 | = | 0.0% |
| Reserves | 13 | €257,405 | €263,028 | +€5,623 | +2.2% |
| Distributable reserves | 133 | €257,405 | €263,028 | +€5,623 | +2.2% |
| Amounts payable | 17/49 | €2,617,119 | €2,414,775 | -€202,344 | -7.7% |
| Amounts payable after more than one year | 17 | €1,090,544 | €827,203 | -€263,341 | -24.1% |
| Financial debts | 170/4 | €1,090,544 | €827,203 | -€263,341 | -24.1% |
| Amounts payable within one year | 42/48 | €1,475,808 | €1,581,664 | +€105,857 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €287,262 | €264,655 | -€22,607 | -7.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €17,613 | €3,293 | -€14,319 | -81.3% |
| Suppliers | 440/4 | €17,613 | €3,293 | -€14,319 | -81.3% |
| Taxes, remuneration and social security | 45 | €87 | €3,340 | +€3,253 | +3738.9% |
| Taxes | 450/3 | €87 | €3,340 | +€3,253 | +3738.9% |
| Other amounts payable | 47/48 | €1,170,846 | €1,310,376 | +€139,531 | +11.9% |
| Accrued charges and deferred income | 492/3 | €50,768 | €5,908 | -€44,860 | -88.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €201,613 | €215,281 | +€13,667 | +6.8% |
| Other operating charges | 640/8 | €20,009 | €21,135 | +€1,126 | +5.6% |
| Non-recurring operating charges | 66A | - | €950 | +€950 | |
| Gross operating margin | 9900 | €300,045 | €272,093 | -€27,952 | -9.3% |
| Operating profit (loss) | 9901 | €78,422 | €34,728 | -€43,695 | -55.7% |
| Financial charges | 65/66B | €73,245 | €26,440 | -€46,806 | -63.9% |
| Recurring financial charges | 65 | €73,245 | €26,440 | -€46,806 | -63.9% |
| Profit (loss) for the period before taxes | 9903 | €5,177 | €8,288 | +€3,111 | +60.1% |
| Income taxes | 67/77 | €995 | €2,665 | +€1,670 | +167.7% |
| Profit (loss) for the period | 9904 | €4,182 | €5,623 | +€1,441 | +34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,182 | €5,623 | +€1,441 | +34.5% |
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 9 October 2026 via checked.be.