Immo Van Elsacker: what changed
Two fiscal 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 Van Elsacker
Largest movements
- Tangible fixed assets -€40,554
down €40,554 (-3.7%), from €1.1m to €1.1m
of which Land and buildings: -€39,674
- Other debts -€85,512
down €85,512 (-9.4%), from €910,203 to €824,691
- Reserves +€39,738
up €39,738 (+23.5%), from €169,210 to €208,948
- Gross operating margin +€7,182
up €7,182 (+7.7%), from €93,241 to €100,423
- Taxes +€1,736
up €1,736 (+15.1%), from €11,510 to €13,246
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 | €1,110,637 | €1,065,560 | -€45,077 | -4.1% |
| Fixed assets | 21/28 | €1,098,204 | €1,057,650 | -€40,554 | -3.7% |
| Tangible fixed assets | 22/27 | €1,098,204 | €1,057,650 | -€40,554 | -3.7% |
| Land and buildings | 22 | €1,096,809 | €1,057,134 | -€39,674 | -3.6% |
| Furniture and vehicles | 24 | €1,395 | €516 | -€879 | -63.0% |
| Current assets | 29/58 | €12,433 | €7,909 | -€4,523 | -36.4% |
| Amounts receivable within one year | 40/41 | €5,595 | - | -€5,595 | |
| Other amounts receivable | 41 | €5,595 | - | -€5,595 | |
| Cash at bank and in hand | 54/58 | €6,838 | €6,893 | +€56 | +0.8% |
| Deferred charges and accrued income | 490/1 | - | €1,016 | +€1,016 | |
| Total equity and liabilities | 10/49 | €1,110,637 | €1,065,560 | -€45,077 | -4.1% |
| Equity | 10/15 | €200,197 | €239,935 | +€39,738 | +19.8% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €169,210 | €208,948 | +€39,738 | +23.5% |
| Distributable reserves | 133 | €169,210 | €208,948 | +€39,738 | +23.5% |
| Amounts payable | 17/49 | €910,440 | €825,624 | -€84,815 | -9.3% |
| Amounts payable within one year | 42/48 | €910,440 | €825,624 | -€84,815 | -9.3% |
| Trade debts | 44 | €227 | €177 | -€50 | -22.0% |
| Suppliers | 440/4 | €227 | €177 | -€50 | -22.0% |
| Taxes, remuneration and social security | 45 | €10 | €756 | +€746 | +7691.9% |
| Taxes | 450/3 | €10 | €756 | +€746 | +7691.9% |
| Other amounts payable | 47/48 | €910,203 | €824,691 | -€85,512 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,554 | €40,554 | = | 0.0% |
| Other operating charges | 640/8 | €6,633 | €6,840 | +€207 | +3.1% |
| Gross operating margin | 9900 | €93,241 | €100,423 | +€7,182 | +7.7% |
| Operating profit (loss) | 9901 | €46,054 | €53,029 | +€6,976 | +15.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €15 | €45 | +€30 | +200.0% |
| Recurring financial charges | 65 | €15 | €45 | +€30 | +200.0% |
| Profit (loss) for the period before taxes | 9903 | €46,039 | €52,984 | +€6,946 | +15.1% |
| Income taxes | 67/77 | €11,510 | €13,246 | +€1,736 | +15.1% |
| Profit (loss) for the period | 9904 | €34,529 | €39,738 | +€5,209 | +15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,529 | €39,738 | +€5,209 | +15.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.