IMMO Z: 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 Z
Largest movements
- Tangible fixed assets -€29,570
down €29,570 (-6.4%), from €460,357 to €430,786
- Cash +€8,872
up €8,872 (+33.7%), from €26,302 to €35,174
mainly Depreciation (+€29,570) and Net result for the year (+€27,147)
- Debts after one year -€27,667
down €27,667 (-44.4%), from €62,249 to €34,583
- Profit (loss) carried forward +€27,147
up €27,147 (+464.0%), from €5,851 to €32,998
- Other debts -€25,000
down €25,000 (-6.8%), from €370,085 to €345,085
- Tax, wage and social debts +€8,869
up €8,869 (+875.2%), from €1,013 to €9,882
- Gross operating margin +€24,416
up €24,416 (+49.0%), from €49,819 to €74,236
- Taxes +€8,869
up €8,869 (+875.2%), from €1,013 to €9,882
- Financial charges -€2,841
down €2,841 (-43.0%), from €6,607 to €3,766
- Depreciation +€1,937
up €1,937 (+7.0%), from €27,633 to €29,570
- Other operating charges -€768
down €768 (-16.6%), from €4,638 to €3,871
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 | €492,575 | €471,922 | -€20,653 | -4.2% |
| Fixed assets | 21/28 | €460,357 | €430,786 | -€29,570 | -6.4% |
| Tangible fixed assets | 22/27 | €460,357 | €430,786 | -€29,570 | -6.4% |
| Land and buildings | 22 | €460,357 | €430,786 | -€29,570 | -6.4% |
| Current assets | 29/58 | €32,219 | €41,136 | +€8,917 | +27.7% |
| Cash at bank and in hand | 54/58 | €26,302 | €35,174 | +€8,872 | +33.7% |
| Deferred charges and accrued income | 490/1 | €5,916 | €5,962 | +€45 | +0.8% |
| Total equity and liabilities | 10/49 | €492,575 | €471,922 | -€20,653 | -4.2% |
| Equity | 10/15 | €12,061 | €39,208 | +€27,147 | +225.1% |
| Contributions | 10/11 | €6,210 | €6,210 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,851 | €32,998 | +€27,147 | +464.0% |
| Amounts payable | 17/49 | €480,514 | €432,714 | -€47,800 | -9.9% |
| Amounts payable after more than one year | 17 | €62,249 | €34,583 | -€27,667 | -44.4% |
| Financial debts | 170/4 | €62,249 | €34,583 | -€27,667 | -44.4% |
| Amounts payable within one year | 42/48 | €417,702 | €398,132 | -€19,571 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €27,667 | €27,667 | = | 0.0% |
| Trade debts | 44 | €18,937 | €15,498 | -€3,440 | -18.2% |
| Suppliers | 440/4 | €9,537 | €4,338 | -€5,200 | -54.5% |
| Bills of exchange payable | 441 | €9,400 | €11,160 | +€1,760 | +18.7% |
| Taxes, remuneration and social security | 45 | €1,013 | €9,882 | +€8,869 | +875.2% |
| Taxes | 450/3 | €1,013 | €9,882 | +€8,869 | +875.2% |
| Other amounts payable | 47/48 | €370,085 | €345,085 | -€25,000 | -6.8% |
| Accrued charges and deferred income | 492/3 | €563 | - | -€563 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,633 | €29,570 | +€1,937 | +7.0% |
| Other operating charges | 640/8 | €4,638 | €3,871 | -€768 | -16.6% |
| Gross operating margin | 9900 | €49,819 | €74,236 | +€24,416 | +49.0% |
| Operating profit (loss) | 9901 | €17,548 | €40,795 | +€23,247 | +132.5% |
| Financial charges | 65/66B | €6,607 | €3,766 | -€2,841 | -43.0% |
| Recurring financial charges | 65 | €6,607 | €3,766 | -€2,841 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €10,940 | €37,029 | +€26,089 | +238.5% |
| Income taxes | 67/77 | €1,013 | €9,882 | +€8,869 | +875.2% |
| Profit (loss) for the period | 9904 | €9,927 | €27,147 | +€17,220 | +173.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,927 | €27,147 | +€17,220 | +173.5% |
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.