IMMOCEL: 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
IMMOCEL
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€47,857
2023 · €9,597+€38,261
Equity
€187,130
2023 · €139,273+€47,857
Cash
€27,659
2023 · €6,114+€21,545
Balance sheet total
€4.1m
2023 · €4.3m-€272,293
Largest movements
Assets
- Tangible fixed assets -€167,110
down €167,110 (-4.1%), from €4.1m to €3.9m
of which Land and buildings: -€164,250
- Deferred charges and accrued income -€142,209
down €142,209 (-88.2%), from €161,175 to €18,966
Equity and liabilities
- Debts after one year -€304,336
down €304,336 (-12.2%), from €2.5m to €2.2m
of which Financial debts: -€304,336
- Provisions -€87,758
down €87,758 (-76.3%), from €115,000 to €27,242
- Profit (loss) carried forward +€47,857
up €47,857 (+11.3%), from -€423,022 to -€375,165
- Other debts +€45,815
up €45,815 (+4.0%), from €1.1m to €1.2m
Income statement
- Gross operating margin -€212,796
down €212,796 (-41.7%), from €510,569 to €297,773
- Provisions -€202,758
down €202,758, from €115,000 to -€87,758
- Other operating charges -€23,596
down €23,596 (-35.9%), from €65,685 to €42,088
- Staff costs -€16,228
down €16,228 (-41.7%), from €38,922 to €22,695
- Write-downs -€6,410
down €6,410 (-77.4%), from €8,282 to €1,872
From the 2023 result to the 2024 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 2023
€9,597
Gross operating margin
-€212,796
Staff costs
+€16,228
Depreciation
-€413
Write-downs
+€6,410
Provisions
+€202,758
Other operating charges
+€23,596
Financial income
-€1,062
Financial charges
+€3,453
Taxes
+€86
Result 2024
€47,857
raises the resultlowers the result
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€359,811
Investment
-€39,932
Financing
-€298,334
Cash 2023
€6,114
From operations (derived)
+€359,811
Net result for the year
+€47,857
Depreciation
+€207,043
Receivables within one year
-€15,482
Deferred charges and accrued income
+€142,209
Provisions
-€87,758
Trade debts
+€22,444
Tax, wage and social debts
-€2,751
Other debts
+€45,815
Accrued charges and deferred income
+€434
Investment (derived)
-€39,932
Investment in fixed assets (net)
-€39,932
Financing
-€298,334
Debts after one year
-€304,336
Current portion of long-term debt
+€6,002
Cash 2024
€27,659
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,330,027 | €4,057,734 | -€272,293 | -6.3% |
| Fixed assets | 21/28 | €4,069,611 | €3,902,501 | -€167,110 | -4.1% |
| Tangible fixed assets | 22/27 | €4,069,611 | €3,902,501 | -€167,110 | -4.1% |
| Land and buildings | 22 | €4,060,855 | €3,896,605 | -€164,250 | -4.0% |
| Plant, machinery and equipment | 23 | - | €3,043 | +€3,043 | |
| Furniture and vehicles | 24 | €8,757 | €2,853 | -€5,904 | -67.4% |
| Current assets | 29/58 | €260,415 | €155,233 | -€105,182 | -40.4% |
| Amounts receivable within one year | 40/41 | €93,126 | €108,608 | +€15,482 | +16.6% |
| Trade receivables | 40 | €93,126 | €108,608 | +€15,482 | +16.6% |
| Cash at bank and in hand | 54/58 | €6,114 | €27,659 | +€21,545 | +352% |
| Deferred charges and accrued income | 490/1 | €161,175 | €18,966 | -€142,209 | -88.2% |
| Total equity and liabilities | 10/49 | €4,330,027 | €4,057,734 | -€272,293 | -6.3% |
| Equity | 10/15 | €139,273 | €187,130 | +€47,857 | +34.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €417,500 | €417,500 | = | 0.0% |
| Reserves | 13 | €82,795 | €82,795 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €76,595 | €76,595 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€423,022 | -€375,165 | +€47,857 | +11.3% |
| Provisions and deferred taxes | 16 | €115,000 | €27,242 | -€87,758 | -76.3% |
| Provisions for liabilities and charges | 160/5 | €115,000 | €27,242 | -€87,758 | -76.3% |
| Major repairs and maintenance | 162 | €115,000 | €27,242 | -€87,758 | -76.3% |
| Amounts payable | 17/49 | €4,075,754 | €3,843,362 | -€232,392 | -5.7% |
| Amounts payable after more than one year | 17 | €2,501,088 | €2,196,752 | -€304,336 | -12.2% |
| Financial debts | 170/4 | €2,496,088 | €2,191,752 | -€304,336 | -12.2% |
| Other amounts payable | 178/9 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,558,890 | €1,630,401 | +€71,510 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €298,334 | €304,336 | +€6,002 | +2.0% |
| Trade debts | 44 | €101,166 | €123,610 | +€22,444 | +22.2% |
| Suppliers | 440/4 | €101,166 | €123,610 | +€22,444 | +22.2% |
| Taxes, remuneration and social security | 45 | €24,799 | €22,048 | -€2,751 | -11.1% |
| Taxes | 450/3 | €19,752 | €22,048 | +€2,296 | +11.6% |
| Remuneration and social security | 454/9 | €5,047 | €0 | -€5,047 | -100% |
| Other amounts payable | 47/48 | €1,134,592 | €1,180,406 | +€45,815 | +4.0% |
| Accrued charges and deferred income | 492/3 | €15,775 | €16,209 | +€434 | +2.8% |
| Non-recurring operating income | 76A | €500 | €0 | -€500 | -100% |
| Remuneration, social security and pensions | 62 | €38,922 | €22,695 | -€16,228 | -41.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €206,630 | €207,043 | +€413 | +0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,282 | €1,872 | -€6,410 | -77.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €115,000 | -€87,758 | -€202,758 | |
| Other operating charges | 640/8 | €65,685 | €42,088 | -€23,596 | -35.9% |
| Gross operating margin | 9900 | €510,569 | €297,773 | -€212,796 | -41.7% |
| Operating profit (loss) | 9901 | €76,050 | €111,833 | +€35,784 | +47.1% |
| Financial income | 75/76B | €1,406 | €344 | -€1,062 | -75.5% |
| Recurring financial income | 75 | €1,406 | €344 | -€1,062 | -75.5% |
| Financial charges | 65/66B | €67,695 | €64,241 | -€3,453 | -5.1% |
| Recurring financial charges | 65 | €67,695 | €64,241 | -€3,453 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €9,761 | €47,936 | +€38,175 | +391% |
| Income taxes | 67/77 | €164 | €79 | -€86 | -52.2% |
| Profit (loss) for the period | 9904 | €9,597 | €47,857 | +€38,261 | +399% |
| Profit (loss) for the period to be appropriated | 9905 | €9,597 | €47,857 | +€38,261 | +399% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.