IMMOSUD: 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.
IMMOSUD
Largest movements
- Tangible fixed assets -€174,067
down €174,067 (-26.8%), from €650,544 to €476,477
of which Land and buildings: -€161,642
- Cash +€102,099
up €102,099 (+7596.7%), from €1,344 to €103,443
mainly Investment in fixed assets (net) (+€143,977) and Net result for the year (+€53,024)
- Receivables after one year -€11,730
down €11,730 (-5.4%), from €218,081 to €206,351
- Debts after one year -€115,007
down €115,007 (-20.1%), from €573,456 to €458,449
- Profit (loss) carried forward +€59,139
up €59,139 (+70.5%), from -€83,921 to -€24,782
- Other debts -€19,684
down €19,684 (-57.6%), from €34,198 to €14,514
- Gross operating margin +€70,538
up €70,538 (+205.4%), from €34,338 to €104,876
- Taxes +€5,647
new in 2025: €5,647
- Depreciation -€5,596
down €5,596 (-15.7%), from €35,686 to €30,090
- Financial income +€5,533
up €5,533 (+482.4%), from €1,147 to €6,680
- Financial charges +€2,761
up €2,761 (+12.8%), from €21,610 to €24,371
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 | €876,659 | €790,667 | -€85,992 | -9.8% |
| Fixed assets | 21/28 | €650,792 | €476,725 | -€174,067 | -26.7% |
| Tangible fixed assets | 22/27 | €650,544 | €476,477 | -€174,067 | -26.8% |
| Land and buildings | 22 | €615,976 | €454,334 | -€161,642 | -26.2% |
| Plant, machinery and equipment | 23 | €31,398 | €19,173 | -€12,225 | -38.9% |
| Furniture and vehicles | 24 | €3,170 | €2,970 | -€200 | -6.3% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €225,867 | €313,942 | +€88,075 | +39.0% |
| Amounts receivable after more than one year | 29 | €218,081 | €206,351 | -€11,730 | -5.4% |
| Other amounts receivable | 291 | €218,081 | €206,351 | -€11,730 | -5.4% |
| Amounts receivable within one year | 40/41 | €4,722 | €2,862 | -€1,860 | -39.4% |
| Trade receivables | 40 | €4,722 | €2,862 | -€1,860 | -39.4% |
| Cash at bank and in hand | 54/58 | €1,344 | €103,443 | +€102,099 | +7596.7% |
| Deferred charges and accrued income | 490/1 | €1,720 | €1,286 | -€434 | -25.2% |
| Total equity and liabilities | 10/49 | €876,659 | €790,667 | -€85,992 | -9.8% |
| Equity | 10/15 | €155,938 | €208,961 | +€53,023 | +34.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €177,886 | €171,770 | -€6,116 | -3.4% |
| Non-distributable reserves | 130/1 | €534 | €534 | = | 0.0% |
| Legal reserve | 130 | €534 | €534 | = | 0.0% |
| Tax-exempt reserves | 132 | €177,352 | €171,236 | -€6,116 | -3.4% |
| Profit (loss) carried forward | 14 | -€83,921 | -€24,782 | +€59,139 | +70.5% |
| Provisions and deferred taxes | 16 | €59,117 | €57,079 | -€2,038 | -3.4% |
| Deferred taxes | 168 | €59,117 | €57,079 | -€2,038 | -3.4% |
| Amounts payable | 17/49 | €661,604 | €524,627 | -€136,977 | -20.7% |
| Amounts payable after more than one year | 17 | €573,456 | €458,449 | -€115,007 | -20.1% |
| Financial debts | 170/4 | €573,456 | €458,449 | -€115,007 | -20.1% |
| Amounts payable within one year | 42/48 | €88,148 | €66,178 | -€21,970 | -24.9% |
| Current portion of amounts payable after more than one year | 42 | €53,950 | €45,916 | -€8,034 | -14.9% |
| Trade debts | 44 | - | €100 | +€100 | |
| Suppliers | 440/4 | - | €100 | +€100 | |
| Taxes, remuneration and social security | 45 | - | €5,648 | +€5,648 | |
| Taxes | 450/3 | - | €5,648 | +€5,648 | |
| Other amounts payable | 47/48 | €34,198 | €14,514 | -€19,684 | -57.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,686 | €30,090 | -€5,596 | -15.7% |
| Other operating charges | 640/8 | - | €463 | +€463 | |
| Gross operating margin | 9900 | €34,338 | €104,876 | +€70,538 | +205.4% |
| Operating profit (loss) | 9901 | -€1,348 | €74,323 | +€75,671 | |
| Financial income | 75/76B | €1,147 | €6,680 | +€5,533 | +482.4% |
| Recurring financial income | 75 | €1,147 | €6,680 | +€5,533 | +482.4% |
| Financial charges | 65/66B | €21,610 | €24,371 | +€2,761 | +12.8% |
| Recurring financial charges | 65 | €21,610 | €24,371 | +€2,761 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | -€21,811 | €56,632 | +€78,443 | |
| Transfer from deferred taxes | 780 | €2,039 | €2,039 | = | 0.0% |
| Income taxes | 67/77 | - | €5,647 | +€5,647 | |
| Profit (loss) for the period | 9904 | -€19,772 | €53,024 | +€72,796 | |
| Transfer from tax-exempt reserves | 789 | €6,116 | €6,115 | -€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,656 | €59,139 | +€72,795 |
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 5 October 2026 via checked.be.