IMMOBILIERE 4: what changed
What changed
IMMOBILIERE 4
filed annual accounts (NBB)
Net result for the year
-€41,128
2023 · €104,090-€145,218
Equity
€670,734
2023 · €711,863-€41,128
Cash
€79
2023 · €1+€78
Balance sheet total
€2.6m
2023 · €2.8m-€165,799
Largest movements
Assets
- Tangible fixed assets -€125,800
down €125,800 (-4.8%), from €2.6m to €2.5m
- Receivables within one year -€40,077
down €40,077 (-21.6%), from €185,639 to €145,562
Equity and liabilities
- Debts after one year -€127,952
down €127,952 (-7.6%), from €1.7m to €1.5m
- Profit (loss) carried forward -€41,128
down €41,128 (-72.3%), from €56,863 to €15,734
- Revaluation surpluses -€29,000
down €29,000 (-5.3%), from €551,000 to €522,000
- Reserves +€29,000
up €29,000 (+100%), from €29,000 to €58,000
Income statement
- Gross operating margin -€111,294
down €111,294 (-39.4%), from €282,126 to €170,831
- Financial charges +€23,564
up €23,564 (+70.8%), from €33,282 to €56,846
- Other operating charges +€22,064
new in 2024: €22,064
- Taxes -€11,704
down €11,704 (-61.8%), from €18,954 to €7,250
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2023
€104,090
Gross operating margin
-€111,294
Other operating charges
-€22,064
Financial charges
-€23,564
Taxes
+€11,704
Result 2024
-€41,128
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€132,402
Investment
€0
Financing
-€132,324
Cash 2023
€1
From operations (derived)
+€132,402
Net result for the year
-€41,128
Depreciation
+€125,800
Receivables within one year
+€40,077
Smaller working-capital items
+€403
Tax, wage and social debts
+€7,250
Financing
-€132,324
Debts after one year
-€127,952
Current portion of long-term debt
-€4,372
Cash 2024
€79
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,814,548 | €2,648,749 | -€165,799 | -5.9% |
| Fixed assets | 21/28 | €2,628,909 | €2,503,109 | -€125,800 | -4.8% |
| Tangible fixed assets | 22/27 | €2,628,909 | €2,503,109 | -€125,800 | -4.8% |
| Land and buildings | 22 | €2,628,909 | €2,503,109 | -€125,800 | -4.8% |
| Current assets | 29/58 | €185,639 | €145,640 | -€39,999 | -21.5% |
| Amounts receivable within one year | 40/41 | €185,639 | €145,562 | -€40,077 | -21.6% |
| Other amounts receivable | 41 | €185,639 | €145,562 | -€40,077 | -21.6% |
| Cash at bank and in hand | 54/58 | €1 | €79 | +€78 | +12,621% |
| Total equity and liabilities | 10/49 | €2,814,548 | €2,648,749 | -€165,799 | -5.9% |
| Equity | 10/15 | €711,863 | €670,734 | -€41,128 | -5.8% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Revaluation surpluses | 12 | €551,000 | €522,000 | -€29,000 | -5.3% |
| Reserves | 13 | €29,000 | €58,000 | +€29,000 | +100% |
| Distributable reserves | 133 | €29,000 | €58,000 | +€29,000 | +100% |
| Profit (loss) carried forward | 14 | €56,863 | €15,734 | -€41,128 | -72.3% |
| Amounts payable | 17/49 | €2,102,686 | €1,978,015 | -€124,671 | -5.9% |
| Amounts payable after more than one year | 17 | €1,675,744 | €1,547,793 | -€127,952 | -7.6% |
| Financial debts | 170/4 | €1,675,744 | €1,547,793 | -€127,952 | -7.6% |
| Amounts payable within one year | 42/48 | €419,441 | €422,722 | +€3,281 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €132,324 | €127,952 | -€4,372 | -3.3% |
| Trade debts | 44 | €1,860 | €1,963 | +€103 | +5.5% |
| Suppliers | 440/4 | €1,860 | €1,963 | +€103 | +5.5% |
| Advances received on contracts in progress | 46 | €260,000 | €260,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €18,954 | €26,204 | +€7,250 | +38.2% |
| Taxes | 450/3 | €18,954 | €26,204 | +€7,250 | +38.2% |
| Other amounts payable | 47/48 | €6,303 | €6,603 | +€300 | +4.8% |
| Accrued charges and deferred income | 492/3 | €7,500 | €7,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,800 | €125,800 | = | 0.0% |
| Other operating charges | 640/8 | - | €22,064 | +€22,064 | |
| Gross operating margin | 9900 | €282,126 | €170,831 | -€111,294 | -39.4% |
| Operating profit (loss) | 9901 | €156,326 | €22,968 | -€133,358 | -85.3% |
| Financial charges | 65/66B | €33,282 | €56,846 | +€23,564 | +70.8% |
| Recurring financial charges | 65 | €33,282 | €56,846 | +€23,564 | +70.8% |
| Profit (loss) for the period before taxes | 9903 | €123,044 | -€33,878 | -€156,923 | |
| Income taxes | 67/77 | €18,954 | €7,250 | -€11,704 | -61.8% |
| Profit (loss) for the period | 9904 | €104,090 | -€41,128 | -€145,218 | |
| Profit (loss) for the period to be appropriated | 9905 | €104,090 | -€41,128 | -€145,218 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.