Immo ZANZEN: 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 ZANZEN
Largest movements
- Tangible fixed assets +€884,262
up €884,262 (+135%), from €654,758 to €1.5m
of which Land and buildings: +€852,154
- Debts after one year +€853,115
up €853,115 (+133%), from €642,134 to €1.5m
of which Other amounts payable: +€567,423
- Current portion of long-term debt +€17,608
up €17,608 (+78.3%), from €22,501 to €40,109
- Gross operating margin +€40,160
up €40,160 (+198%), from €20,321 to €60,481
- Depreciation +€11,245
up €11,245 (+53.4%), from €21,058 to €32,302
- Financial charges +€4,320
up €4,320 (+54.6%), from €7,916 to €12,236
- Other operating charges +€1,616
up €1,616 (+31.8%), from €5,075 to €6,690
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
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 | €655,629 | €1,543,398 | +€887,769 | +135% |
| Fixed assets | 21/28 | €654,758 | €1,539,020 | +€884,262 | +135% |
| Tangible fixed assets | 22/27 | €654,758 | €1,539,020 | +€884,262 | +135% |
| Land and buildings | 22 | €640,474 | €1,492,629 | +€852,154 | +133% |
| Plant, machinery and equipment | 23 | €14,283 | €46,391 | +€32,108 | +225% |
| Current assets | 29/58 | €871 | €4,378 | +€3,507 | +403% |
| Cash at bank and in hand | 54/58 | €871 | €4,378 | +€3,507 | +403% |
| Total equity and liabilities | 10/49 | €655,629 | €1,543,398 | +€887,769 | +135% |
| Equity | 10/15 | -€9,235 | €388 | +€9,623 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €21 | €21 | = | 0.0% |
| Distributable reserves | 133 | €21 | €21 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,456 | -€5,833 | +€9,623 | +62.3% |
| Amounts payable | 17/49 | €664,864 | €1,543,010 | +€878,146 | +132% |
| Amounts payable after more than one year | 17 | €642,134 | €1,495,248 | +€853,115 | +133% |
| Financial debts | 170/4 | €359,100 | €644,792 | +€285,692 | +79.6% |
| Other amounts payable | 178/9 | €283,034 | €850,457 | +€567,423 | +200% |
| Amounts payable within one year | 42/48 | €22,730 | €45,000 | +€22,269 | +98.0% |
| Current portion of amounts payable after more than one year | 42 | €22,501 | €40,109 | +€17,608 | +78.3% |
| Trade debts | 44 | €229 | €4,891 | +€4,662 | +2,034% |
| Suppliers | 440/4 | €229 | €4,891 | +€4,662 | +2,034% |
| Accrued charges and deferred income | 492/3 | - | €2,762 | +€2,762 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,058 | €32,302 | +€11,245 | +53.4% |
| Other operating charges | 640/8 | €5,075 | €6,690 | +€1,616 | +31.8% |
| Gross operating margin | 9900 | €20,321 | €60,481 | +€40,160 | +198% |
| Operating profit (loss) | 9901 | -€5,811 | €21,488 | +€27,300 | |
| Financial income | 75/76B | €70 | €371 | +€301 | +432% |
| Recurring financial income | 75 | €70 | €371 | +€301 | +432% |
| Financial charges | 65/66B | €7,916 | €12,236 | +€4,320 | +54.6% |
| Recurring financial charges | 65 | €7,916 | €12,236 | +€4,320 | +54.6% |
| Profit (loss) for the period before taxes | 9903 | -€13,658 | €9,623 | +€23,281 | |
| Profit (loss) for the period | 9904 | -€13,658 | €9,623 | +€23,281 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,658 | €9,623 | +€23,281 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.