IMMO ZEN: 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 ZEN
Largest movements
- Receivables within one year +€25,463
up €25,463 (+24.2%), from €105,090 to €130,553
of which Other amounts receivable: +€21,068
- Tangible fixed assets -€24,163
down €24,163 (-8.8%), from €274,285 to €250,122
of which Furniture and vehicles: -€19,670
- Reserves +€45,000
up €45,000 (+18.7%), from €240,700 to €285,700
of which Distributable reserves: +€45,000
- Debts after one year -€35,632
down €35,632 (-16.1%), from €221,192 to €185,560
- Advances received +€25,251
new in 2025: €25,251
- Other debts -€11,725
down €11,725 (-10.3%), from €113,550 to €101,824
- Current portion of long-term debt -€11,593
down €11,593 (-26.0%), from €44,615 to €33,022
- Gross operating margin -€23,967
down €23,967 (-16.0%), from €150,173 to €126,206
- Other operating charges -€12,097
down €12,097 (-75.5%), from €16,019 to €3,922
- Depreciation +€10,859
up €10,859 (+106.9%), from €10,156 to €21,016
- Taxes -€4,594
down €4,594 (-14.7%), from €31,300 to €26,706
- Financial charges -€1,588
down €1,588 (-16.8%), from €9,440 to €7,852
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 | €739,106 | €745,646 | +€6,540 | +0.9% |
| Fixed assets | 21/28 | €274,785 | €250,622 | -€24,163 | -8.8% |
| Tangible fixed assets | 22/27 | €274,285 | €250,122 | -€24,163 | -8.8% |
| Land and buildings | 22 | €227,596 | €223,102 | -€4,494 | -2.0% |
| Furniture and vehicles | 24 | €46,689 | €27,020 | -€19,670 | -42.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €464,321 | €495,024 | +€30,703 | +6.6% |
| Stocks and contracts in progress | 3 | €355,543 | €355,543 | = | 0.0% |
| Stocks | 30/36 | €355,543 | €355,543 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €105,090 | €130,553 | +€25,463 | +24.2% |
| Trade receivables | 40 | €90,750 | €95,145 | +€4,395 | +4.8% |
| Other amounts receivable | 41 | €14,340 | €35,408 | +€21,068 | +146.9% |
| Cash at bank and in hand | 54/58 | €1,342 | €6,321 | +€4,979 | +371.0% |
| Deferred charges and accrued income | 490/1 | €2,345 | €2,606 | +€261 | +11.1% |
| Total equity and liabilities | 10/49 | €739,106 | €745,646 | +€6,540 | +0.9% |
| Equity | 10/15 | €308,703 | €350,414 | +€41,711 | +13.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €240,700 | €285,700 | +€45,000 | +18.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €240,700 | €285,700 | +€45,000 | +18.7% |
| Profit (loss) carried forward | 14 | €48,003 | €44,714 | -€3,289 | -6.9% |
| Amounts payable | 17/49 | €430,403 | €395,232 | -€35,171 | -8.2% |
| Amounts payable after more than one year | 17 | €221,192 | €185,560 | -€35,632 | -16.1% |
| Financial debts | 170/4 | €221,192 | €185,560 | -€35,632 | -16.1% |
| Amounts payable within one year | 42/48 | €208,443 | €209,672 | +€1,229 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €44,615 | €33,022 | -€11,593 | -26.0% |
| Trade debts | 44 | €21,211 | €18,850 | -€2,361 | -11.1% |
| Suppliers | 440/4 | €21,211 | €18,850 | -€2,361 | -11.1% |
| Advances received on contracts in progress | 46 | - | €25,251 | +€25,251 | |
| Taxes, remuneration and social security | 45 | €29,067 | €30,724 | +€1,657 | +5.7% |
| Taxes | 450/3 | €29,067 | €30,724 | +€1,657 | +5.7% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €113,550 | €101,824 | -€11,725 | -10.3% |
| Accrued charges and deferred income | 492/3 | €768 | €0 | -€768 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,156 | €21,016 | +€10,859 | +106.9% |
| Other operating charges | 640/8 | €16,019 | €3,922 | -€12,097 | -75.5% |
| Gross operating margin | 9900 | €150,173 | €126,206 | -€23,967 | -16.0% |
| Operating profit (loss) | 9901 | €123,998 | €101,269 | -€22,730 | -18.3% |
| Financial income | 75/76B | €11 | €0 | -€11 | -99.6% |
| Recurring financial income | 75 | €11 | €0 | -€11 | -99.6% |
| Financial charges | 65/66B | €9,440 | €7,852 | -€1,588 | -16.8% |
| Recurring financial charges | 65 | €9,440 | €7,852 | -€1,588 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €114,569 | €93,417 | -€21,152 | -18.5% |
| Income taxes | 67/77 | €31,300 | €26,706 | -€4,594 | -14.7% |
| Profit (loss) for the period | 9904 | €83,269 | €66,711 | -€16,558 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €83,269 | €66,711 | -€16,558 | -19.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.