IMMOBILIAR: 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.
IMMOBILIAR
Largest movements
- Tangible fixed assets +€736,006
up €736,006 (+23.2%), from €3.2m to €3.9m
of which Leasing and similar rights: +€779,060
- Cash +€68,976
up €68,976 (+35.4%), from €194,689 to €263,665
mainly Provisions (+€419,089) and Debts after one year (+€363,688)
- Provisions +€419,089
up €419,089 (+119.8%), from €349,800 to €768,889
- Debts after one year +€363,688
up €363,688 (+12.3%), from €3.0m to €3.3m
of which Financial debts: +€740,206
- Financial charges +€42,714
up €42,714 (+165.9%), from €25,747 to €68,461
- Depreciation +€22,296
up €22,296 (+13.8%), from €162,029 to €184,325
- Financial income +€12,919
up €12,919 (+215.2%), from €6,002 to €18,921
- Gross operating margin -€12,395
down €12,395 (-4.5%), from €275,301 to €262,905
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 | €3,472,189 | €4,284,633 | +€812,444 | +23.4% |
| Fixed assets | 21/28 | €3,165,751 | €3,901,757 | +€736,006 | +23.2% |
| Tangible fixed assets | 22/27 | €3,165,751 | €3,901,757 | +€736,006 | +23.2% |
| Land and buildings | 22 | €2,044,520 | €1,992,064 | -€52,456 | -2.6% |
| Plant, machinery and equipment | 23 | €196,820 | €158,928 | -€37,892 | -19.3% |
| Furniture and vehicles | 24 | €576 | €70,229 | +€69,653 | +12096.2% |
| Leasing and similar rights | 25 | €814,926 | €1,593,986 | +€779,060 | +95.6% |
| Other tangible fixed assets | 26 | €108,909 | €86,550 | -€22,359 | -20.5% |
| Current assets | 29/58 | €306,438 | €382,876 | +€76,438 | +24.9% |
| Amounts receivable within one year | 40/41 | €7,302 | €15,507 | +€8,205 | +112.4% |
| Trade receivables | 40 | €7,209 | €7,303 | +€94 | +1.3% |
| Other amounts receivable | 41 | €93 | €8,204 | +€8,111 | +8748.1% |
| Current investments | 50/53 | €100,599 | €100,599 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €194,689 | €263,665 | +€68,976 | +35.4% |
| Deferred charges and accrued income | 490/1 | €3,848 | €3,104 | -€744 | -19.3% |
| Total equity and liabilities | 10/49 | €3,472,189 | €4,284,633 | +€812,444 | +23.4% |
| Equity | 10/15 | €68,798 | €72,010 | +€3,212 | +4.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €445,000 | €445,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€396,202 | -€392,990 | +€3,212 | +0.8% |
| Provisions and deferred taxes | 16 | €349,800 | €768,889 | +€419,089 | +119.8% |
| Provisions for liabilities and charges | 160/5 | €349,800 | €768,889 | +€419,089 | +119.8% |
| Other liabilities and charges | 164/5 | €349,800 | €768,889 | +€419,089 | +119.8% |
| Amounts payable | 17/49 | €3,053,591 | €3,443,734 | +€390,143 | +12.8% |
| Amounts payable after more than one year | 17 | €2,951,029 | €3,314,717 | +€363,688 | +12.3% |
| Financial debts | 170/4 | €1,316,224 | €2,056,431 | +€740,206 | +56.2% |
| Other amounts payable | 178/9 | €1,634,804 | €1,258,286 | -€376,518 | -23.0% |
| Amounts payable within one year | 42/48 | €98,266 | €124,131 | +€25,865 | +26.3% |
| Current portion of amounts payable after more than one year | 42 | €96,004 | €122,931 | +€26,927 | +28.0% |
| Trade debts | 44 | €1,070 | - | -€1,070 | |
| Suppliers | 440/4 | €1,070 | - | -€1,070 | |
| Taxes, remuneration and social security | 45 | €200 | €200 | = | 0.0% |
| Taxes | 450/3 | €200 | €200 | = | 0.0% |
| Other amounts payable | 47/48 | €992 | €1,000 | +€8 | +0.8% |
| Accrued charges and deferred income | 492/3 | €4,296 | €4,886 | +€590 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162,029 | €184,325 | +€22,296 | +13.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€911 | -€911 | |
| Other operating charges | 640/8 | €25,253 | €26,526 | +€1,273 | +5.0% |
| Gross operating margin | 9900 | €275,301 | €262,905 | -€12,395 | -4.5% |
| Operating profit (loss) | 9901 | €88,019 | €52,965 | -€35,054 | -39.8% |
| Financial income | 75/76B | €6,002 | €18,921 | +€12,919 | +215.2% |
| Recurring financial income | 75 | €6,002 | €18,921 | +€12,919 | +215.2% |
| Financial charges | 65/66B | €25,747 | €68,461 | +€42,714 | +165.9% |
| Recurring financial charges | 65 | €25,747 | €68,461 | +€42,714 | +165.9% |
| Profit (loss) for the period before taxes | 9903 | €68,274 | €3,425 | -€64,849 | -95.0% |
| Income taxes | 67/77 | €197 | €213 | +€16 | +8.1% |
| Profit (loss) for the period | 9904 | €68,077 | €3,212 | -€64,865 | -95.3% |
| Profit (loss) for the period to be appropriated | 9905 | €68,077 | €3,212 | -€64,865 | -95.3% |
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 12 October 2026 via checked.be.