Immo Valine: 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 Valine
Largest movements
- Current investments -€450,000
no longer reported in 2025 (was €450,000)
- Cash +€413,060
up €413,060 (+466%), from €88,574 to €501,634
mainly Current investments (+€450,000) and Net result for the year (+€162,542)
- Tangible fixed assets -€105,480
down €105,480 (-4.5%), from €2.4m to €2.3m
of which Land and buildings: -€96,030
- Profit (loss) carried forward +€292,910
up €292,910 (+37.7%), from -€776,246 to -€483,336
- Reserves -€130,368
down €130,368 (-6.6%), from €2.0m to €1.8m
of which Tax-exempt reserves: -€130,368
- Short-term financial debts -€105,989
down €105,989 (-21.8%), from €486,512 to €380,523
- Debts after one year -€84,923
down €84,923 (-25.4%), from €334,677 to €249,754
of which Financial debts: -€83,023
- Provisions -€67,129
down €67,129 (-10.2%), from €658,321 to €591,192
- Gross operating margin -€2.4m
down €2.4m (-88.7%), from €2.7m to €300,197
- Write-downs -€2.1m
no longer reported in 2025 (was €2.1m)
- Financial charges -€128,062
down €128,062 (-77.2%), from €165,943 to €37,881
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 | €2,948,858 | €2,814,765 | -€134,093 | -4.5% |
| Formation expenses | 20 | €25,303 | €20,964 | -€4,339 | -17.1% |
| Fixed assets | 21/28 | €2,365,786 | €2,260,306 | -€105,480 | -4.5% |
| Tangible fixed assets | 22/27 | €2,365,196 | €2,259,716 | -€105,480 | -4.5% |
| Land and buildings | 22 | €2,261,196 | €2,165,166 | -€96,030 | -4.2% |
| Furniture and vehicles | 24 | - | €11,350 | +€11,350 | |
| Other tangible fixed assets | 26 | €104,000 | €83,200 | -€20,800 | -20.0% |
| Financial fixed assets | 28 | €590 | €590 | = | 0.0% |
| Current assets | 29/58 | €557,769 | €533,495 | -€24,274 | -4.4% |
| Amounts receivable within one year | 40/41 | €8,279 | €12,059 | +€3,780 | +45.7% |
| Other amounts receivable | 41 | €8,279 | €12,059 | +€3,780 | +45.7% |
| Current investments | 50/53 | €450,000 | - | -€450,000 | |
| Cash at bank and in hand | 54/58 | €88,574 | €501,634 | +€413,060 | +466% |
| Deferred charges and accrued income | 490/1 | €10,916 | €19,802 | +€8,886 | +81.4% |
| Total equity and liabilities | 10/49 | €2,948,858 | €2,814,765 | -€134,093 | -4.5% |
| Equity | 10/15 | €1,353,731 | €1,516,273 | +€162,542 | +12.0% |
| Contributions | 10/11 | €161,131 | €161,131 | = | 0.0% |
| Capital | 10 | €161,131 | €161,131 | = | 0.0% |
| Issued capital | 100 | €161,131 | €161,131 | = | 0.0% |
| Reserves | 13 | €1,968,846 | €1,838,478 | -€130,368 | -6.6% |
| Non-distributable reserves | 130/1 | €16,113 | €16,113 | = | 0.0% |
| Legal reserve | 130 | €16,113 | €16,113 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,903,944 | €1,773,576 | -€130,368 | -6.8% |
| Distributable reserves | 133 | €48,789 | €48,789 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€776,246 | -€483,336 | +€292,910 | +37.7% |
| Provisions and deferred taxes | 16 | €658,321 | €591,192 | -€67,129 | -10.2% |
| Deferred taxes | 168 | €658,321 | €591,192 | -€67,129 | -10.2% |
| Amounts payable | 17/49 | €936,806 | €707,300 | -€229,506 | -24.5% |
| Amounts payable after more than one year | 17 | €334,677 | €249,754 | -€84,923 | -25.4% |
| Financial debts | 170/4 | €325,477 | €242,454 | -€83,023 | -25.5% |
| Advances received on contracts in progress | 176 | €9,200 | €7,300 | -€1,900 | -20.7% |
| Amounts payable within one year | 42/48 | €555,323 | €410,391 | -€144,932 | -26.1% |
| Financial debts | 43 | €486,512 | €380,523 | -€105,989 | -21.8% |
| Credit institutions | 430/8 | €486,512 | €380,523 | -€105,989 | -21.8% |
| Trade debts | 44 | €1,886 | €2,201 | +€315 | +16.7% |
| Suppliers | 440/4 | €1,886 | €2,201 | +€315 | +16.7% |
| Taxes, remuneration and social security | 45 | €55 | - | -€55 | |
| Taxes | 450/3 | €55 | - | -€55 | |
| Other amounts payable | 47/48 | €66,870 | €27,667 | -€39,203 | -58.6% |
| Accrued charges and deferred income | 492/3 | €46,806 | €47,155 | +€349 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,170 | €133,576 | +€12,406 | +10.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,085,544 | - | -€2.1m | |
| Other operating charges | 640/8 | €28,899 | €42,988 | +€14,089 | +48.8% |
| Gross operating margin | 9900 | €2,657,142 | €300,197 | -€2.4m | -88.7% |
| Operating profit (loss) | 9901 | €421,529 | €123,633 | -€297,896 | -70.7% |
| Financial income | 75/76B | - | €10,861 | +€10,861 | |
| Recurring financial income | 75 | - | €10,861 | +€10,861 | |
| Financial charges | 65/66B | €165,943 | €37,881 | -€128,062 | -77.2% |
| Recurring financial charges | 65 | €165,943 | €37,881 | -€128,062 | -77.2% |
| Profit (loss) for the period before taxes | 9903 | €255,586 | €96,613 | -€158,973 | -62.2% |
| Transfer from deferred taxes | 780 | €16,782 | €67,129 | +€50,347 | +300% |
| Transfer to deferred taxes | 680 | €591,192 | - | -€591,192 | |
| Income taxes | 67/77 | €1,221 | €1,200 | -€21 | -1.7% |
| Profit (loss) for the period | 9904 | -€320,045 | €162,542 | +€482,587 | |
| Transfer from tax-exempt reserves | 789 | €32,592 | €130,368 | +€97,776 | +300% |
| Transfer to tax-exempt reserves | 689 | €1,773,576 | - | -€1.8m | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,061,029 | €292,910 | +€2.4m |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.