IMMO ZA52: 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 ZA52
Largest movements
- Cash +€120,512
up €120,512 (+66.7%), from €180,627 to €301,139
mainly Other debts (+€133,380) and Depreciation (+€90,705)
- Tangible fixed assets -€40,854
down €40,854 (-3.7%), from €1.1m to €1.1m
- Receivables within one year -€24,757
down €24,757 (-48.8%), from €50,750 to €25,993
of which Other amounts receivable: -€33,418
- Other debts +€133,380
up €133,380 (+35.0%), from €381,301 to €514,681
- Profit (loss) carried forward -€83,915
down €83,915 (-444.3%), from -€18,885 to -€102,801
- Depreciation +€39,880
up €39,880 (+78.5%), from €50,825 to €90,705
- Financial charges +€24,515
up €24,515 (+18561.7%), from €132 to €24,647
- Other operating charges +€3,015
up €3,015 (+124.8%), from €2,415 to €5,430
- Gross operating margin +€2,379
up €2,379 (+6.9%), from €34,486 to €36,866
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 | €1,346,824 | €1,399,442 | +€52,618 | +3.9% |
| Fixed assets | 21/28 | €1,101,376 | €1,060,521 | -€40,854 | -3.7% |
| Tangible fixed assets | 22/27 | €1,101,376 | €1,060,521 | -€40,854 | -3.7% |
| Land and buildings | 22 | €960,545 | €951,553 | -€8,992 | -0.9% |
| Plant, machinery and equipment | 23 | €42,808 | €26,142 | -€16,665 | -38.9% |
| Furniture and vehicles | 24 | €98,023 | €82,826 | -€15,197 | -15.5% |
| Current assets | 29/58 | €245,449 | €338,920 | +€93,472 | +38.1% |
| Stocks and contracts in progress | 3 | €12,119 | €8,917 | -€3,202 | -26.4% |
| Stocks | 30/36 | €12,119 | €8,917 | -€3,202 | -26.4% |
| Amounts receivable within one year | 40/41 | €50,750 | €25,993 | -€24,757 | -48.8% |
| Trade receivables | 40 | €13,988 | €22,649 | +€8,661 | +61.9% |
| Other amounts receivable | 41 | €36,762 | €3,344 | -€33,418 | -90.9% |
| Cash at bank and in hand | 54/58 | €180,627 | €301,139 | +€120,512 | +66.7% |
| Deferred charges and accrued income | 490/1 | €1,953 | €2,871 | +€918 | +47.0% |
| Total equity and liabilities | 10/49 | €1,346,824 | €1,399,442 | +€52,618 | +3.9% |
| Equity | 10/15 | €961,115 | €877,199 | -€83,915 | -8.7% |
| Contributions | 10/11 | €980,000 | €980,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,885 | -€102,801 | -€83,915 | -444.3% |
| Amounts payable | 17/49 | €385,710 | €522,243 | +€136,533 | +35.4% |
| Amounts payable within one year | 42/48 | €385,710 | €522,013 | +€136,303 | +35.3% |
| Trade debts | 44 | €4,409 | - | -€4,409 | |
| Suppliers | 440/4 | €4,409 | - | -€4,409 | |
| Taxes, remuneration and social security | 45 | - | €7,332 | +€7,332 | |
| Taxes | 450/3 | - | €7,332 | +€7,332 | |
| Other amounts payable | 47/48 | €381,301 | €514,681 | +€133,380 | +35.0% |
| Accrued charges and deferred income | 492/3 | - | €230 | +€230 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,825 | €90,705 | +€39,880 | +78.5% |
| Other operating charges | 640/8 | €2,415 | €5,430 | +€3,015 | +124.8% |
| Gross operating margin | 9900 | €34,486 | €36,866 | +€2,379 | +6.9% |
| Operating profit (loss) | 9901 | -€18,753 | -€59,269 | -€40,515 | -216.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €132 | €24,647 | +€24,515 | +18561.7% |
| Recurring financial charges | 65 | €132 | €24,647 | +€24,515 | +18561.7% |
| Profit (loss) for the period before taxes | 9903 | -€18,885 | -€83,915 | -€65,030 | -344.3% |
| Profit (loss) for the period | 9904 | -€18,885 | -€83,915 | -€65,030 | -344.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,885 | -€83,915 | -€65,030 | -344.3% |
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 9 October 2026 via checked.be.