IMMOCO: 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
IMMOCO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€268,068
2024 · €91,592+€176,476
Equity
€1.3m
2024 · €1.0m+€266,308
Cash
€3,453
2024 · €26,804-€23,351
Balance sheet total
€3.9m
2024 · €3.9m-€54,623
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year -€349,471
down €349,471 (-14.0%), from €2.5m to €2.1m
of which Financial debts: -€350,631
- Reserves +€178,830
up €178,830 (+165%), from €108,515 to €287,345
of which Tax-exempt reserves: +€178,830
- Profit (loss) carried forward +€87,478
up €87,478 (+17.5%), from €499,489 to €586,968
- Provisions +€59,610
new in 2025: €59,610
Income statement
- Gross operating margin +€230,167
up €230,167 (+47.9%), from €480,503 to €710,670
- Purchases and services +€27,778
up €27,778 (+9.4%), from €296,047 to €323,825
- Financial charges -€11,271
down €11,271 (-17.0%), from €66,177 to €54,906
- Depreciation +€10,290
up €10,290 (+3.5%), from €290,402 to €300,691
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
€91,592
Gross operating margin
+€230,167
Staff costs
+€632
Depreciation
-€10,290
Financial income
+€20
Financial charges
+€11,271
Taxes
+€2,526
Deferred taxes and other
-€57,850
Result 2025
€268,068
raises the resultlowers the resultnot broken down further in the accounts
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
+€622,521
Investment
-€272,340
Financing
-€373,532
Cash 2024
€26,804
From operations (derived)
+€622,521
Net result for the year
+€268,068
Depreciation
+€300,691
Receivables within one year
-€825
Deferred charges and accrued income
+€3,746
Provisions
+€59,610
Trade debts
-€28,806
Tax, wage and social debts
-€11,922
Other debts
+€31,960
Investment (derived)
-€272,340
Investment in fixed assets (net)
-€272,340
Financing
-€373,532
Debts after one year
-€349,471
Current portion of long-term debt
-€22,301
Contributions, distributions and other
-€1,760
Cash 2025
€3,453
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,942,639 | €3,888,016 | -€54,623 | -1.4% |
| Formation expenses | 20 | €7,263 | €7,263 | = | 0.0% |
| Fixed assets | 21/28 | €3,891,336 | €3,862,985 | -€28,351 | -0.7% |
| Intangible fixed assets | 21 | - | €18,971 | +€18,971 | |
| Tangible fixed assets | 22/27 | €3,873,336 | €3,844,014 | -€29,322 | -0.8% |
| Land and buildings | 22 | €2,267,631 | €2,397,056 | +€129,425 | +5.7% |
| Plant, machinery and equipment | 23 | €856 | €467 | -€389 | -45.5% |
| Other tangible fixed assets | 26 | €1,604,849 | €1,446,491 | -€158,358 | -9.9% |
| Financial fixed assets | 28 | €18,000 | - | -€18,000 | |
| Current assets | 29/58 | €44,040 | €17,768 | -€26,272 | -59.7% |
| Amounts receivable within one year | 40/41 | €313 | €1,138 | +€825 | +264% |
| Other amounts receivable | 41 | €313 | €1,138 | +€825 | +264% |
| Cash at bank and in hand | 54/58 | €26,804 | €3,453 | -€23,351 | -87.1% |
| Deferred charges and accrued income | 490/1 | €16,924 | €13,178 | -€3,746 | -22.1% |
| Total equity and liabilities | 10/49 | €3,942,639 | €3,888,016 | -€54,623 | -1.4% |
| Equity | 10/15 | €1,011,749 | €1,278,058 | +€266,308 | +26.3% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Revaluation surpluses | 12 | €3,745 | €3,745 | = | 0.0% |
| Reserves | 13 | €108,515 | €287,345 | +€178,830 | +165% |
| Non-distributable reserves | 130/1 | €46,694 | €46,694 | = | 0.0% |
| Legal reserve | 130 | €46,694 | €46,694 | = | 0.0% |
| Tax-exempt reserves | 132 | €61,821 | €240,651 | +€178,830 | +289% |
| Profit (loss) carried forward | 14 | €499,489 | €586,968 | +€87,478 | +17.5% |
| Provisions and deferred taxes | 16 | - | €59,610 | +€59,610 | |
| Deferred taxes | 168 | - | €59,610 | +€59,610 | |
| Amounts payable | 17/49 | €2,930,890 | €2,550,349 | -€380,541 | -13.0% |
| Amounts payable after more than one year | 17 | €2,488,060 | €2,138,589 | -€349,471 | -14.0% |
| Financial debts | 170/4 | €2,471,442 | €2,120,811 | -€350,631 | -14.2% |
| Other amounts payable | 178/9 | €16,618 | €17,778 | +€1,160 | +7.0% |
| Amounts payable within one year | 42/48 | €442,830 | €411,761 | -€31,070 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €318,564 | €296,263 | -€22,301 | -7.0% |
| Trade debts | 44 | €29,903 | €1,097 | -€28,806 | -96.3% |
| Suppliers | 440/4 | €29,903 | €1,097 | -€28,806 | -96.3% |
| Taxes, remuneration and social security | 45 | €11,922 | - | -€11,922 | |
| Taxes | 450/3 | €11,922 | - | -€11,922 | |
| Other amounts payable | 47/48 | €82,442 | €114,401 | +€31,960 | +38.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €296,047 | €323,825 | +€27,778 | +9.4% |
| Remuneration, social security and pensions | 62 | €632 | - | -€632 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €290,402 | €300,691 | +€10,290 | +3.5% |
| Gross operating margin | 9900 | €480,503 | €710,670 | +€230,167 | +47.9% |
| Operating profit (loss) | 9901 | €189,469 | €409,979 | +€220,510 | +116% |
| Financial income | 75/76B | - | €20 | +€20 | |
| Recurring financial income | 75 | - | €20 | +€20 | |
| Financial charges | 65/66B | €66,177 | €54,906 | -€11,271 | -17.0% |
| Recurring financial charges | 65 | €66,177 | €54,906 | -€11,271 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €123,292 | €355,093 | +€231,801 | +188% |
| Transfer from deferred taxes | 780 | - | €2,346 | +€2,346 | |
| Transfer to deferred taxes | 680 | - | €60,196 | +€60,196 | |
| Income taxes | 67/77 | €31,701 | €29,175 | -€2,526 | -8.0% |
| Profit (loss) for the period | 9904 | €91,592 | €268,068 | +€176,476 | +193% |
| Transfer to tax-exempt reserves | 689 | - | €180,589 | +€180,589 | |
| Profit (loss) for the period to be appropriated | 9905 | €91,592 | €87,478 | -€4,113 | -4.5% |
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 17 October 2026 via checked.be.