Immobiliare: 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.
What changed
Immobiliare
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€40,480
2024 · €182,030-€222,510
Equity
€4.6m
2024 · €4.7m-€40,480
Cash
€93,143
2024 · €628,533-€535,391
Balance sheet total
€10.8m
2024 · €10.6m+€298,733
Largest movements
Assets
- Tangible fixed assets +€880,241
up €880,241 (+11.5%), from €7.7m to €8.5m
of which Land and buildings: +€893,566
- Cash -€535,391
down €535,391 (-85.2%), from €628,533 to €93,143
mainly Investment in fixed assets (net) (-€1.1m) and Net result for the year (-€40,480)
Equity and liabilities
- Debts after one year +€317,513
up €317,513 (+8.1%), from €3.9m to €4.3m
Income statement
- Other operating charges +€129,551
up €129,551 (+403%), from €32,185 to €161,736
- Gross operating margin -€84,183
down €84,183 (-13.8%), from €608,312 to €524,130
- Depreciation +€23,052
up €23,052 (+12.8%), from €179,472 to €202,524
- Taxes -€20,981
down €20,981 (-53.1%), from €39,541 to €18,560
- Financial income -€6,465
down €6,465 (-47.8%), from €13,534 to €7,069
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.
Result 2024
€182,030
Gross operating margin
-€84,183
Depreciation
-€23,052
Other operating charges
-€129,551
Financial income
-€6,465
Financial charges
-€240
Taxes
+€20,981
Result 2025
-€40,480
raises the resultlowers the result
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.
From operations
+€188,143
Investment
-€1.1m
Financing
+€359,231
Cash 2024
€628,533
From operations (derived)
+€188,143
Net result for the year
-€40,480
Depreciation
+€202,524
Receivables within one year
+€46,547
Deferred charges and accrued income
-€429
Trade debts
+€5,023
Tax, wage and social debts
-€20,981
Other debts
-€4,061
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Financing
+€359,231
Debts after one year
+€317,513
Current portion of long-term debt
+€41,717
Cash 2025
€93,143
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,550,693 | €10,849,425 | +€298,733 | +2.8% |
| Fixed assets | 21/28 | €9,771,794 | €10,652,034 | +€880,241 | +9.0% |
| Intangible fixed assets | 21 | €2,117,675 | €2,117,675 | = | 0.0% |
| Tangible fixed assets | 22/27 | €7,654,118 | €8,534,359 | +€880,241 | +11.5% |
| Land and buildings | 22 | €7,604,140 | €8,497,706 | +€893,566 | +11.8% |
| Plant, machinery and equipment | 23 | €49,978 | €36,653 | -€13,325 | -26.7% |
| Current assets | 29/58 | €778,899 | €197,391 | -€581,508 | -74.7% |
| Amounts receivable within one year | 40/41 | €147,903 | €101,357 | -€46,547 | -31.5% |
| Trade receivables | 40 | €52,500 | - | -€52,500 | |
| Other amounts receivable | 41 | €95,403 | €101,357 | +€5,953 | +6.2% |
| Cash at bank and in hand | 54/58 | €628,533 | €93,143 | -€535,391 | -85.2% |
| Deferred charges and accrued income | 490/1 | €2,462 | €2,891 | +€429 | +17.4% |
| Total equity and liabilities | 10/49 | €10,550,693 | €10,849,425 | +€298,733 | +2.8% |
| Equity | 10/15 | €4,658,684 | €4,618,205 | -€40,480 | -0.9% |
| Contributions | 10/11 | €1,091,100 | €1,091,100 | = | 0.0% |
| Revaluation surpluses | 12 | €3,023,966 | €3,023,966 | = | 0.0% |
| Reserves | 13 | €452,523 | €412,044 | -€40,480 | -8.9% |
| Non-distributable reserves | 130/1 | - | €4,734 | +€4,734 | |
| Reserves not available under the articles | 1311 | - | €4,734 | +€4,734 | |
| Distributable reserves | 133 | €452,523 | €407,310 | -€45,214 | -10.0% |
| Profit (loss) carried forward | 14 | €91,095 | €91,095 | = | 0.0% |
| Provisions and deferred taxes | 16 | €38,021 | €38,021 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | - | €10,000 | +€10,000 | |
| Major repairs and maintenance | 162 | - | €10,000 | +€10,000 | |
| Deferred taxes | 168 | €38,021 | €28,021 | -€10,000 | -26.3% |
| Amounts payable | 17/49 | €5,853,987 | €6,193,199 | +€339,212 | +5.8% |
| Amounts payable after more than one year | 17 | €3,937,812 | €4,255,326 | +€317,513 | +8.1% |
| Financial debts | 170/4 | €3,937,812 | €4,255,326 | +€317,513 | +8.1% |
| Amounts payable within one year | 42/48 | €1,916,175 | €1,937,874 | +€21,699 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €312,878 | €354,595 | +€41,717 | +13.3% |
| Financial debts | 43 | €1,513,476 | €1,513,476 | = | 0.0% |
| Credit institutions | 430/8 | €1,513,476 | €1,513,476 | = | 0.0% |
| Trade debts | 44 | €1,818 | €6,841 | +€5,023 | +276% |
| Suppliers | 440/4 | €1,818 | €6,841 | +€5,023 | +276% |
| Taxes, remuneration and social security | 45 | €39,541 | €18,560 | -€20,981 | -53.1% |
| Taxes | 450/3 | €39,541 | €18,560 | -€20,981 | -53.1% |
| Other amounts payable | 47/48 | €48,463 | €44,402 | -€4,061 | -8.4% |
| Non-recurring operating income | 76A | €163,438 | - | -€163,438 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €179,472 | €202,524 | +€23,052 | +12.8% |
| Other operating charges | 640/8 | €32,185 | €161,736 | +€129,551 | +403% |
| Gross operating margin | 9900 | €608,312 | €524,130 | -€84,183 | -13.8% |
| Operating profit (loss) | 9901 | €396,655 | €159,870 | -€236,785 | -59.7% |
| Financial income | 75/76B | €13,534 | €7,069 | -€6,465 | -47.8% |
| Recurring financial income | 75 | €13,534 | €7,069 | -€6,465 | -47.8% |
| Financial charges | 65/66B | €188,619 | €188,859 | +€240 | +0.1% |
| Recurring financial charges | 65 | €188,619 | €188,859 | +€240 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €221,571 | -€21,920 | -€243,491 | |
| Income taxes | 67/77 | €39,541 | €18,560 | -€20,981 | -53.1% |
| Profit (loss) for the period | 9904 | €182,030 | -€40,480 | -€222,510 | |
| Transfer from tax-exempt reserves | 789 | €90,030 | €90,030 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €272,060 | €49,550 | -€222,510 | -81.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.