IMMOSEB: what changed
Two fiscal 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.
IMMOSEB
Largest movements
- Tangible fixed assets -€78,471
down €78,471 (-9.3%), from €843,093 to €764,623
of which Land and buildings: -€62,464
- Receivables within one year +€44,369
up €44,369 (+52.5%), from €84,572 to €128,940
of which Other amounts receivable: +€34,621
- Debts after one year -€41,603
down €41,603 (-18.6%), from €223,634 to €182,031
- Short-term financial debts +€20,311
up €20,311 (+634.5%), from €3,201 to €23,511
- Current portion of long-term debt +€18,577
up €18,577 (+57.0%), from €32,609 to €51,186
- Profit (loss) carried forward -€12,856
down €12,856 (-2.6%), from -€500,726 to -€513,583
- Trade debts -€11,342
down €11,342 (-32.5%), from €34,875 to €23,533
- Gross operating margin -€37,991
down €37,991 (-28.3%), from €134,271 to €96,280
- Other operating charges -€7,333
down €7,333 (-41.4%), from €17,705 to €10,371
- Depreciation +€1,371
up €1,371 (+1.8%), from €77,100 to €78,471
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 | €929,483 | €894,863 | -€34,620 | -3.7% |
| Fixed assets | 21/28 | €843,093 | €764,623 | -€78,471 | -9.3% |
| Tangible fixed assets | 22/27 | €843,093 | €764,623 | -€78,471 | -9.3% |
| Land and buildings | 22 | €781,240 | €718,776 | -€62,464 | -8.0% |
| Plant, machinery and equipment | 23 | €29,529 | €22,905 | -€6,624 | -22.4% |
| Furniture and vehicles | 24 | €2,573 | €1,228 | -€1,344 | -52.3% |
| Leasing and similar rights | 25 | €29,752 | €21,714 | -€8,038 | -27.0% |
| Current assets | 29/58 | €86,390 | €130,240 | +€43,850 | +50.8% |
| Amounts receivable after more than one year | 29 | €500 | €500 | = | 0.0% |
| Trade receivables | 290 | €500 | €500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €84,572 | €128,940 | +€44,369 | +52.5% |
| Trade receivables | 40 | €11,549 | €21,297 | +€9,748 | +84.4% |
| Other amounts receivable | 41 | €73,022 | €107,643 | +€34,621 | +47.4% |
| Cash at bank and in hand | 54/58 | €827 | - | -€827 | |
| Deferred charges and accrued income | 490/1 | €491 | €800 | +€309 | +62.8% |
| Total equity and liabilities | 10/49 | €929,483 | €894,863 | -€34,620 | -3.7% |
| Equity | 10/15 | €360,197 | €347,341 | -€12,856 | -3.6% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Capital | 10 | €99,157 | €99,157 | = | 0.0% |
| Issued capital | 100 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €761,766 | €761,766 | = | 0.0% |
| Tax-exempt reserves | 132 | €761,766 | €761,766 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€500,726 | -€513,583 | -€12,856 | -2.6% |
| Provisions and deferred taxes | 16 | €253,922 | €253,922 | = | 0.0% |
| Deferred taxes | 168 | €253,922 | €253,922 | = | 0.0% |
| Amounts payable | 17/49 | €315,364 | €293,600 | -€21,764 | -6.9% |
| Amounts payable after more than one year | 17 | €223,634 | €182,031 | -€41,603 | -18.6% |
| Financial debts | 170/4 | €223,634 | €182,031 | -€41,603 | -18.6% |
| Amounts payable within one year | 42/48 | €85,963 | €110,652 | +€24,689 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €32,609 | €51,186 | +€18,577 | +57.0% |
| Financial debts | 43 | €3,201 | €23,511 | +€20,311 | +634.5% |
| Credit institutions | 430/8 | €3,201 | €23,511 | +€20,311 | +634.5% |
| Trade debts | 44 | €34,875 | €23,533 | -€11,342 | -32.5% |
| Suppliers | 440/4 | €34,875 | €23,533 | -€11,342 | -32.5% |
| Taxes, remuneration and social security | 45 | €347 | €412 | +€65 | +18.6% |
| Taxes | 450/3 | €347 | €412 | +€65 | +18.6% |
| Other amounts payable | 47/48 | €14,931 | €12,010 | -€2,921 | -19.6% |
| Accrued charges and deferred income | 492/3 | €5,767 | €917 | -€4,850 | -84.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,100 | €78,471 | +€1,371 | +1.8% |
| Other operating charges | 640/8 | €17,705 | €10,371 | -€7,333 | -41.4% |
| Gross operating margin | 9900 | €134,271 | €96,280 | -€37,991 | -28.3% |
| Operating profit (loss) | 9901 | €39,467 | €7,438 | -€32,028 | -81.2% |
| Financial income | 75/76B | €0 | €1,064 | +€1,064 | +379864.3% |
| Recurring financial income | 75 | €0 | €1,064 | +€1,064 | +379864.3% |
| Financial charges | 65/66B | €20,541 | €21,178 | +€637 | +3.1% |
| Recurring financial charges | 65 | €20,541 | €21,178 | +€637 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €18,926 | -€12,675 | -€31,602 | |
| Income taxes | 67/77 | €394 | €181 | -€214 | -54.1% |
| Profit (loss) for the period | 9904 | €18,532 | -€12,856 | -€31,388 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,532 | -€12,856 | -€31,388 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.