IMMOBELAR: 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.
IMMOBELAR
Largest movements
- Tangible fixed assets -€24,338
down €24,338 (-2.6%), from €948,873 to €924,535
of which Land and buildings: -€23,788
- Debts after one year -€30,280
down €30,280 (-3.6%), from €838,254 to €807,974
of which Financial debts: -€30,280
- Depreciation -€23,448
down €23,448 (-49.1%), from €47,786 to €24,338
- Gross operating margin +€13,320
up €13,320 (+21.8%), from €61,090 to €74,410
- Financial charges -€11,039
down €11,039 (-21.3%), from €51,710 to €40,671
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 | €954,548 | €931,072 | -€23,476 | -2.5% |
| Fixed assets | 21/28 | €948,873 | €924,535 | -€24,338 | -2.6% |
| Tangible fixed assets | 22/27 | €948,873 | €924,535 | -€24,338 | -2.6% |
| Land and buildings | 22 | €943,379 | €919,591 | -€23,788 | -2.5% |
| Other tangible fixed assets | 26 | €5,494 | €4,944 | -€550 | -10.0% |
| Current assets | 29/58 | €5,675 | €6,537 | +€862 | +15.2% |
| Amounts receivable within one year | 40/41 | - | €732 | +€732 | |
| Trade receivables | 40 | - | €700 | +€700 | |
| Other amounts receivable | 41 | - | €32 | +€32 | |
| Cash at bank and in hand | 54/58 | €5,543 | €5,540 | -€3 | 0.0% |
| Deferred charges and accrued income | 490/1 | €132 | €264 | +€132 | +99.9% |
| Total equity and liabilities | 10/49 | €954,548 | €931,072 | -€23,476 | -2.5% |
| Equity | 10/15 | -€23,650 | -€18,803 | +€4,847 | +20.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,650 | -€38,803 | +€4,847 | +11.1% |
| Amounts payable | 17/49 | €978,198 | €949,875 | -€28,323 | -2.9% |
| Amounts payable after more than one year | 17 | €838,254 | €807,974 | -€30,280 | -3.6% |
| Financial debts | 170/4 | €828,074 | €797,794 | -€30,280 | -3.7% |
| Other amounts payable | 178/9 | €10,180 | €10,180 | = | 0.0% |
| Amounts payable within one year | 42/48 | €139,944 | €141,901 | +€1,956 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €34,734 | €36,129 | +€1,395 | +4.0% |
| Trade debts | 44 | €917 | €1,478 | +€561 | +61.2% |
| Suppliers | 440/4 | €917 | €1,478 | +€561 | +61.2% |
| Other amounts payable | 47/48 | €104,294 | €104,294 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,786 | €24,338 | -€23,448 | -49.1% |
| Other operating charges | 640/8 | €5,245 | €4,554 | -€691 | -13.2% |
| Gross operating margin | 9900 | €61,090 | €74,410 | +€13,320 | +21.8% |
| Operating profit (loss) | 9901 | €8,059 | €45,518 | +€37,459 | +464.8% |
| Financial charges | 65/66B | €51,710 | €40,671 | -€11,039 | -21.3% |
| Recurring financial charges | 65 | €51,710 | €40,671 | -€11,039 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | -€43,650 | €4,847 | +€48,498 | |
| Profit (loss) for the period | 9904 | -€43,650 | €4,847 | +€48,498 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,650 | €4,847 | +€48,498 |
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 2 October 2026 via checked.be.