Immo Van Hees: 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 Van Hees
Largest movements
- Tangible fixed assets -€179,801
down €179,801 (-27.6%), from €652,225 to €472,424
of which Land and buildings: -€195,980
- Cash +€31,071
up €31,071 (+15.0%), from €207,460 to €238,531
- Other debts -€176,924
down €176,924 (-56.1%), from €315,237 to €138,314
- Profit (loss) carried forward +€33,049
up €33,049 (+31.9%), from -€103,502 to -€70,453
- Current portion of long-term debt -€15,537
down €15,537 (-37.6%), from €41,363 to €25,826
- Tax, wage and social debts +€11,211
up €11,211 (+386%), from €2,902 to €14,113
of which Taxes: +€10,785
- Gross operating margin +€111,065
up €111,065 (+72.5%), from €153,140 to €264,205
- Financial charges +€27,489
up €27,489 (+3,857%), from €713 to €28,201
- Depreciation +€26,583
up €26,583 (+41.1%), from €64,600 to €91,183
- Staff costs +€16,880
up €16,880 (+94.5%), from €17,864 to €34,744
- Other operating charges +€6,669
up €6,669 (+102%), from €6,548 to €13,217
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €886,570 | €739,626 | -€146,944 | -16.6% |
| Fixed assets | 21/28 | €653,325 | €473,524 | -€179,801 | -27.5% |
| Tangible fixed assets | 22/27 | €652,225 | €472,424 | -€179,801 | -27.6% |
| Land and buildings | 22 | €647,730 | €451,751 | -€195,980 | -30.3% |
| Plant, machinery and equipment | 23 | €261 | €12,371 | +€12,110 | +4,646% |
| Furniture and vehicles | 24 | €4,234 | €8,302 | +€4,068 | +96.1% |
| Financial fixed assets | 28 | €1,100 | €1,100 | = | 0.0% |
| Current assets | 29/58 | €233,245 | €266,102 | +€32,858 | +14.1% |
| Amounts receivable within one year | 40/41 | €25,426 | €21,756 | -€3,670 | -14.4% |
| Trade receivables | 40 | €9,332 | €12,964 | +€3,632 | +38.9% |
| Other amounts receivable | 41 | €16,095 | €8,793 | -€7,302 | -45.4% |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €207,460 | €238,531 | +€31,071 | +15.0% |
| Deferred charges and accrued income | 490/1 | €358 | €5,815 | +€5,457 | +1,524% |
| Total equity and liabilities | 10/49 | €886,570 | €739,626 | -€146,944 | -16.6% |
| Equity | 10/15 | €377,258 | €410,307 | +€33,049 | +8.8% |
| Contributions | 10/11 | €480,010 | €480,010 | = | 0.0% |
| Capital | 10 | €480,010 | €480,010 | = | 0.0% |
| Issued capital | 100 | €480,010 | €480,010 | = | 0.0% |
| Reserves | 13 | €750 | €750 | = | 0.0% |
| Distributable reserves | 133 | €750 | €750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€103,502 | -€70,453 | +€33,049 | +31.9% |
| Amounts payable | 17/49 | €509,312 | €329,318 | -€179,993 | -35.3% |
| Amounts payable after more than one year | 17 | €135,299 | €137,181 | +€1,882 | +1.4% |
| Financial debts | 170/4 | €135,299 | €137,181 | +€1,882 | +1.4% |
| Amounts payable within one year | 42/48 | €374,012 | €192,138 | -€181,875 | -48.6% |
| Current portion of amounts payable after more than one year | 42 | €41,363 | €25,826 | -€15,537 | -37.6% |
| Financial debts | 43 | - | €347 | +€347 | |
| Credit institutions | 430/8 | - | €347 | +€347 | |
| Trade debts | 44 | €7,615 | €13,538 | +€5,923 | +77.8% |
| Suppliers | 440/4 | €7,615 | €13,538 | +€5,923 | +77.8% |
| Advances received on contracts in progress | 46 | €6,895 | €0 | -€6,895 | -100% |
| Taxes, remuneration and social security | 45 | €2,902 | €14,113 | +€11,211 | +386% |
| Taxes | 450/3 | €0 | €10,785 | +€10,785 | |
| Remuneration and social security | 454/9 | €2,902 | €3,327 | +€426 | +14.7% |
| Other amounts payable | 47/48 | €315,237 | €138,314 | -€176,924 | -56.1% |
| Non-recurring operating income | 76A | €0 | €42,025 | +€42,025 | |
| Remuneration, social security and pensions | 62 | €17,864 | €34,744 | +€16,880 | +94.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,600 | €91,183 | +€26,583 | +41.1% |
| Other operating charges | 640/8 | €6,548 | €13,217 | +€6,669 | +102% |
| Non-recurring operating charges | 66A | - | €53,266 | +€53,266 | |
| Gross operating margin | 9900 | €153,140 | €264,205 | +€111,065 | +72.5% |
| Operating profit (loss) | 9901 | €64,127 | €71,794 | +€7,667 | +12.0% |
| Financial income | 75/76B | €4,082 | €3,243 | -€839 | -20.6% |
| Recurring financial income | 75 | €4,082 | €3,243 | -€839 | -20.6% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €713 | €28,201 | +€27,489 | +3,857% |
| Recurring financial charges | 65 | €713 | €28,201 | +€27,489 | +3,857% |
| Profit (loss) for the period before taxes | 9903 | €67,497 | €46,836 | -€20,661 | -30.6% |
| Income taxes | 67/77 | €10,588 | €13,786 | +€3,199 | +30.2% |
| Profit (loss) for the period | 9904 | €56,909 | €33,049 | -€23,860 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €56,909 | €33,049 | -€23,860 | -41.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 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.