Immo Van Echelpoel: what changed
Immo Van Echelpoel
Largest movements
- Stocks and contracts +€408,475
up €408,475 (+182%), from €224,825 to €633,301
- Tangible fixed assets +€385,520
up €385,520 (+53.5%), from €720,902 to €1.1m
of which Land and buildings: +€386,520
- Receivables within one year -€98,491
down €98,491 (-90.6%), from €108,691 to €10,200
of which Trade receivables: -€102,200
- Cash -€27,707
down €27,707 (-90.9%), from €30,490 to €2,783
mainly Stocks and contracts (-€408,475) and Investment in fixed assets (net) (-€408,356)
- Other debts +€611,115
up €611,115 (+75.6%), from €808,337 to €1.4m
- Trade debts +€103,787
up €103,787 (+152%), from €68,424 to €172,210
- Reserves -€32,588
down €32,588 (-74.8%), from €43,554 to €10,965
- Gross operating margin -€31,769
down €31,769 (-72.8%), from €43,619 to €11,850
- Financial charges +€12,749
up €12,749 (+372%), from €3,427 to €16,176
- Depreciation +€5,294
up €5,294 (+30.2%), from €17,543 to €22,836
- Taxes -€3,709
no longer reported in 2025 (was €3,709)
- Other operating charges +€1,320
up €1,320 (+32.1%), from €4,106 to €5,426
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,086,391 | €1,756,268 | +€669,877 | +61.7% |
| Fixed assets | 21/28 | €720,902 | €1,106,422 | +€385,520 | +53.5% |
| Tangible fixed assets | 22/27 | €720,902 | €1,106,422 | +€385,520 | +53.5% |
| Land and buildings | 22 | €719,168 | €1,105,688 | +€386,520 | +53.7% |
| Furniture and vehicles | 24 | €1,734 | €734 | -€1,000 | -57.7% |
| Current assets | 29/58 | €365,489 | €649,846 | +€284,357 | +77.8% |
| Stocks and contracts in progress | 3 | €224,825 | €633,301 | +€408,475 | +182% |
| Stocks | 30/36 | €224,825 | €633,301 | +€408,475 | +182% |
| Amounts receivable within one year | 40/41 | €108,691 | €10,200 | -€98,491 | -90.6% |
| Trade receivables | 40 | €102,400 | €200 | -€102,200 | -99.8% |
| Other amounts receivable | 41 | €6,291 | €10,000 | +€3,709 | +59.0% |
| Cash at bank and in hand | 54/58 | €30,490 | €2,783 | -€27,707 | -90.9% |
| Deferred charges and accrued income | 490/1 | €1,483 | €3,563 | +€2,080 | +140% |
| Total equity and liabilities | 10/49 | €1,086,391 | €1,756,268 | +€669,877 | +61.7% |
| Equity | 10/15 | €48,554 | €15,965 | -€32,588 | -67.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €43,554 | €10,965 | -€32,588 | -74.8% |
| Distributable reserves | 133 | €43,554 | €10,965 | -€32,588 | -74.8% |
| Amounts payable | 17/49 | €1,037,837 | €1,740,303 | +€702,466 | +67.7% |
| Amounts payable after more than one year | 17 | €148,640 | €135,981 | -€12,659 | -8.5% |
| Financial debts | 170/4 | €148,640 | €135,981 | -€12,659 | -8.5% |
| Amounts payable within one year | 42/48 | €889,197 | €1,604,322 | +€715,125 | +80.4% |
| Current portion of amounts payable after more than one year | 42 | €12,436 | €12,659 | +€223 | +1.8% |
| Trade debts | 44 | €68,424 | €172,210 | +€103,787 | +152% |
| Suppliers | 440/4 | €68,424 | €172,210 | +€103,787 | +152% |
| Other amounts payable | 47/48 | €808,337 | €1,419,453 | +€611,115 | +75.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,543 | €22,836 | +€5,294 | +30.2% |
| Other operating charges | 640/8 | €4,106 | €5,426 | +€1,320 | +32.1% |
| Gross operating margin | 9900 | €43,619 | €11,850 | -€31,769 | -72.8% |
| Operating profit (loss) | 9901 | €21,970 | -€16,412 | -€38,383 | |
| Financial charges | 65/66B | €3,427 | €16,176 | +€12,749 | +372% |
| Recurring financial charges | 65 | €3,427 | €16,176 | +€12,749 | +372% |
| Profit (loss) for the period before taxes | 9903 | €18,544 | -€32,588 | -€51,132 | |
| Income taxes | 67/77 | €3,709 | - | -€3,709 | |
| Profit (loss) for the period | 9904 | €14,835 | -€32,588 | -€47,423 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,835 | -€32,588 | -€47,423 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.