IMMOBEL: 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.
IMMOBEL
Largest movements
- Tangible fixed assets -€73,614
down €73,614 (-8.5%), from €864,868 to €791,253
of which Land and buildings: -€65,948
- Cash +€20,148
up €20,148 (+52.5%), from €38,384 to €58,532
mainly Depreciation (+€76,703) and Current portion of long-term debt (+€10,373)
- Debts after one year -€65,713
down €65,713 (-7.3%), from €894,987 to €829,274
of which Financial debts: -€35,000
- Current portion of long-term debt +€10,373
up €10,373 (+21.3%), from €48,627 to €59,000
- Gross operating margin -€5,324
down €5,324 (-4.6%), from €114,520 to €109,196
- Financial charges -€4,876
down €4,876 (-49.6%), from €9,831 to €4,955
- Depreciation -€2,233
down €2,233 (-2.8%), from €78,935 to €76,703
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 | €916,278 | €860,881 | -€55,397 | -6.0% |
| Fixed assets | 21/28 | €864,868 | €791,253 | -€73,614 | -8.5% |
| Tangible fixed assets | 22/27 | €864,868 | €791,253 | -€73,614 | -8.5% |
| Land and buildings | 22 | €845,689 | €779,741 | -€65,948 | -7.8% |
| Plant, machinery and equipment | 23 | - | €1,082 | +€1,082 | |
| Furniture and vehicles | 24 | €19,178 | €10,430 | -€8,748 | -45.6% |
| Current assets | 29/58 | €51,410 | €69,628 | +€18,218 | +35.4% |
| Amounts receivable within one year | 40/41 | - | €550 | +€550 | |
| Trade receivables | 40 | - | €550 | +€550 | |
| Cash at bank and in hand | 54/58 | €38,384 | €58,532 | +€20,148 | +52.5% |
| Deferred charges and accrued income | 490/1 | €13,026 | €10,546 | -€2,480 | -19.0% |
| Total equity and liabilities | 10/49 | €916,278 | €860,881 | -€55,397 | -6.0% |
| Equity | 10/15 | -€43,034 | -€42,121 | +€912 | +2.1% |
| Contributions | 10/11 | €23,600 | €23,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,634 | -€65,721 | +€912 | +1.4% |
| Amounts payable | 17/49 | €959,311 | €903,002 | -€56,309 | -5.9% |
| Amounts payable after more than one year | 17 | €894,987 | €829,274 | -€65,713 | -7.3% |
| Financial debts | 170/4 | €367,500 | €332,500 | -€35,000 | -9.5% |
| Other amounts payable | 178/9 | €527,487 | €496,774 | -€30,713 | -5.8% |
| Amounts payable within one year | 42/48 | €64,325 | €73,663 | +€9,338 | +14.5% |
| Current portion of amounts payable after more than one year | 42 | €48,627 | €59,000 | +€10,373 | +21.3% |
| Trade debts | 44 | €10,481 | €10,287 | -€194 | -1.9% |
| Suppliers | 440/4 | €10,481 | €10,287 | -€194 | -1.9% |
| Taxes, remuneration and social security | 45 | €5,117 | €4,276 | -€841 | -16.4% |
| Taxes | 450/3 | €1,259 | €221 | -€1,039 | -82.5% |
| Remuneration and social security | 454/9 | €3,857 | €4,055 | +€198 | +5.1% |
| Other amounts payable | 47/48 | €100 | €100 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €66 | +€66 | |
| Remuneration, social security and pensions | 62 | €20,209 | €20,555 | +€346 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,935 | €76,703 | -€2,233 | -2.8% |
| Other operating charges | 640/8 | €5,442 | €6,071 | +€628 | +11.5% |
| Gross operating margin | 9900 | €114,520 | €109,196 | -€5,324 | -4.6% |
| Operating profit (loss) | 9901 | €9,934 | €5,867 | -€4,066 | -40.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €9,831 | €4,955 | -€4,876 | -49.6% |
| Recurring financial charges | 65 | €9,831 | €4,955 | -€4,876 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | €103 | €912 | +€809 | +784% |
| Profit (loss) for the period | 9904 | €103 | €912 | +€809 | +784% |
| Profit (loss) for the period to be appropriated | 9905 | €103 | €912 | +€809 | +784% |
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.