IMMOSENIOR: 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
IMMOSENIOR
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€68,615
2024 · €80,488-€11,873
Equity
€2.0m
2024 · €2.0m+€18,615
Cash
€202,625
2024 · €171,456+€31,169
Balance sheet total
€2.6m
2024 · €2.7m-€41,190
Largest movements
Assets
- Tangible fixed assets -€75,801
down €75,801 (-3.1%), from €2.5m to €2.4m
- Cash +€31,169
up €31,169 (+18.2%), from €171,456 to €202,625
mainly Depreciation (+€99,403) and Net result for the year (+€68,615)
Equity and liabilities
- Current portion of long-term debt -€55,522
no longer reported in 2025 (was €55,522)
Income statement
- Gross operating margin -€9,962
down €9,962 (-3.8%), from €261,384 to €251,422
- Taxes -€9,621
down €9,621 (-29.4%), from €32,691 to €23,070
- Financial charges +€8,073
up €8,073 (+49.3%), from €16,365 to €24,438
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
€80,488
Gross operating margin
-€9,962
Depreciation
-€1,485
Other operating charges
-€1,176
Financial income
-€797
Financial charges
-€8,073
Taxes
+€9,621
Result 2025
€68,615
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
+€162,833
Investment
-€23,602
Financing
-€108,062
Cash 2024
€171,456
From operations (derived)
+€162,833
Net result for the year
+€68,615
Depreciation
+€99,403
Receivables within one year
-€3,442
Trade debts
+€433
Tax, wage and social debts
-€4,174
Other debts
+€1,998
Investment (derived)
-€23,602
Investment in fixed assets (net)
-€23,602
Financing
-€108,062
Debts after one year
-€2,540
Current portion of long-term debt
-€55,522
Contributions, distributions and other
-€50,000
Cash 2025
€202,625
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,673,543 | €2,632,353 | -€41,190 | -1.5% |
| Formation expenses | 20 | - | €5,882 | +€5,882 | |
| Fixed assets | 21/28 | €2,488,258 | €2,406,576 | -€81,682 | -3.3% |
| Intangible fixed assets | 21 | €5,882 | - | -€5,882 | |
| Tangible fixed assets | 22/27 | €2,482,376 | €2,406,576 | -€75,801 | -3.1% |
| Land and buildings | 22 | €2,482,376 | €2,406,576 | -€75,801 | -3.1% |
| Current assets | 29/58 | €185,285 | €219,895 | +€34,611 | +18.7% |
| Amounts receivable within one year | 40/41 | €2,329 | €5,770 | +€3,442 | +148% |
| Trade receivables | 40 | €1,809 | €5,222 | +€3,412 | +189% |
| Other amounts receivable | 41 | €519 | €549 | +€29 | +5.6% |
| Cash at bank and in hand | 54/58 | €171,456 | €202,625 | +€31,169 | +18.2% |
| Deferred charges and accrued income | 490/1 | €11,500 | €11,500 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,673,543 | €2,632,353 | -€41,190 | -1.5% |
| Equity | 10/15 | €1,959,398 | €1,978,013 | +€18,615 | +1.0% |
| Contributions | 10/11 | €902,224 | €902,224 | = | 0.0% |
| Capital | 10 | €902,224 | €902,224 | = | 0.0% |
| Issued capital | 100 | €902,224 | €902,224 | = | 0.0% |
| Reserves | 13 | €796,420 | €796,420 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,192 | €4,192 | = | 0.0% |
| Legal reserve | 130 | €4,192 | €4,192 | = | 0.0% |
| Distributable reserves | 133 | €792,228 | €792,228 | = | 0.0% |
| Profit (loss) carried forward | 14 | €260,755 | €279,370 | +€18,615 | +7.1% |
| Amounts payable | 17/49 | €714,144 | €654,339 | -€59,805 | -8.4% |
| Amounts payable after more than one year | 17 | €424,363 | €421,823 | -€2,540 | -0.6% |
| Financial debts | 170/4 | €416,223 | €416,223 | = | 0.0% |
| Other amounts payable | 178/9 | €8,140 | €5,600 | -€2,540 | -31.2% |
| Amounts payable within one year | 42/48 | €289,781 | €232,516 | -€57,265 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €55,522 | - | -€55,522 | |
| Trade debts | 44 | - | €433 | +€433 | |
| Suppliers | 440/4 | - | €433 | +€433 | |
| Taxes, remuneration and social security | 45 | €5,008 | €834 | -€4,174 | -83.4% |
| Taxes | 450/3 | €5,008 | €834 | -€4,174 | -83.4% |
| Other amounts payable | 47/48 | €229,251 | €231,249 | +€1,998 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,917 | €99,403 | +€1,485 | +1.5% |
| Other operating charges | 640/8 | €35,828 | €37,004 | +€1,176 | +3.3% |
| Gross operating margin | 9900 | €261,384 | €251,422 | -€9,962 | -3.8% |
| Operating profit (loss) | 9901 | €127,639 | €115,015 | -€12,624 | -9.9% |
| Financial income | 75/76B | €1,905 | €1,108 | -€797 | -41.8% |
| Recurring financial income | 75 | €1,905 | €1,108 | -€797 | -41.8% |
| Financial charges | 65/66B | €16,365 | €24,438 | +€8,073 | +49.3% |
| Recurring financial charges | 65 | €16,365 | €24,438 | +€8,073 | +49.3% |
| Profit (loss) for the period before taxes | 9903 | €113,179 | €91,685 | -€21,494 | -19.0% |
| Income taxes | 67/77 | €32,691 | €23,070 | -€9,621 | -29.4% |
| Profit (loss) for the period | 9904 | €80,488 | €68,615 | -€11,873 | -14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €80,488 | €68,615 | -€11,873 | -14.8% |
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 24 October 2026 via checked.be.