IMMOSUM: 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
IMMOSUM
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€26,060
2024 · €11,586+€14,474
Equity
€57,423
2024 · €31,363+€26,060
Cash
€48,765
2024 · €60,813-€12,048
Balance sheet total
€1.4m
2024 · €1.5m-€68,535
Largest movements
Assets
- Tangible fixed assets -€71,678
down €71,678 (-5.2%), from €1.4m to €1.3m
of which Land and buildings: -€41,470
- Receivables within one year +€15,086
up €15,086 (+72.8%), from €20,711 to €35,796
of which Trade receivables: +€11,619
Equity and liabilities
- Debts after one year -€107,887
down €107,887 (-14.3%), from €752,504 to €644,617
- Reserves +€26,060
up €26,060 (+98.9%), from €26,363 to €52,423
Income statement
- Gross operating margin +€5,627
up €5,627 (+4.7%), from €118,924 to €124,551
- Depreciation +€4,119
up €4,119 (+6.0%), from €68,879 to €72,998
- Financial charges -€2,094
down €2,094 (-13.8%), from €15,122 to €13,029
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
€11,586
Gross operating margin
+€5,627
Depreciation
-€4,119
Other operating charges
-€392
Other operating items
+€11,435
Financial income
-€1
Financial charges
+€2,094
Taxes
-€170
Result 2025
€26,060
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
+€96,827
Investment
-€1,320
Financing
-€107,554
Cash 2024
€60,813
From operations (derived)
+€96,827
Net result for the year
+€26,060
Depreciation
+€72,998
Receivables within one year
-€15,086
Deferred charges and accrued income
-€105
Trade debts
+€566
Tax, wage and social debts
+€1,622
Other debts
+€3,070
Accrued charges and deferred income
+€7,701
Investment (derived)
-€1,320
Investment in fixed assets (net)
-€1,320
Financing
-€107,554
Debts after one year
-€107,887
Current portion of long-term debt
+€1,692
Short-term financial debts
-€1,359
Cash 2025
€48,765
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,460,115 | €1,391,580 | -€68,535 | -4.7% |
| Fixed assets | 21/28 | €1,376,918 | €1,305,240 | -€71,678 | -5.2% |
| Tangible fixed assets | 22/27 | €1,376,918 | €1,305,240 | -€71,678 | -5.2% |
| Land and buildings | 22 | €1,247,258 | €1,205,788 | -€41,470 | -3.3% |
| Furniture and vehicles | 24 | €125,731 | €96,524 | -€29,208 | -23.2% |
| Assets under construction and advance payments | 27 | €3,929 | €2,929 | -€1,000 | -25.5% |
| Current assets | 29/58 | €83,197 | €86,340 | +€3,143 | +3.8% |
| Amounts receivable within one year | 40/41 | €20,711 | €35,796 | +€15,086 | +72.8% |
| Trade receivables | 40 | €13,310 | €24,929 | +€11,619 | +87.3% |
| Other amounts receivable | 41 | €7,401 | €10,868 | +€3,467 | +46.8% |
| Cash at bank and in hand | 54/58 | €60,813 | €48,765 | -€12,048 | -19.8% |
| Deferred charges and accrued income | 490/1 | €1,673 | €1,778 | +€105 | +6.3% |
| Total equity and liabilities | 10/49 | €1,460,115 | €1,391,580 | -€68,535 | -4.7% |
| Equity | 10/15 | €31,363 | €57,423 | +€26,060 | +83.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €26,363 | €52,423 | +€26,060 | +98.9% |
| Distributable reserves | 133 | €26,363 | €52,423 | +€26,060 | +98.9% |
| Amounts payable | 17/49 | €1,428,752 | €1,334,157 | -€94,595 | -6.6% |
| Amounts payable after more than one year | 17 | €752,504 | €644,617 | -€107,887 | -14.3% |
| Financial debts | 170/4 | €752,504 | €644,617 | -€107,887 | -14.3% |
| Amounts payable within one year | 42/48 | €676,237 | €681,827 | +€5,591 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €106,195 | €107,887 | +€1,692 | +1.6% |
| Financial debts | 43 | €1,359 | - | -€1,359 | |
| Credit institutions | 430/8 | €1,359 | - | -€1,359 | |
| Trade debts | 44 | €2,790 | €3,356 | +€566 | +20.3% |
| Suppliers | 440/4 | €2,790 | €3,356 | +€566 | +20.3% |
| Taxes, remuneration and social security | 45 | €17,453 | €19,075 | +€1,622 | +9.3% |
| Taxes | 450/3 | €13,518 | €19,075 | +€5,556 | +41.1% |
| Remuneration and social security | 454/9 | €3,935 | - | -€3,935 | |
| Other amounts payable | 47/48 | €548,440 | €551,510 | +€3,070 | +0.6% |
| Accrued charges and deferred income | 492/3 | €11 | €7,712 | +€7,701 | +70,075% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,879 | €72,998 | +€4,119 | +6.0% |
| Other operating charges | 640/8 | €2,144 | €2,536 | +€392 | +18.3% |
| Non-recurring operating charges | 66A | €11,435 | - | -€11,435 | |
| Gross operating margin | 9900 | €118,924 | €124,551 | +€5,627 | +4.7% |
| Operating profit (loss) | 9901 | €36,466 | €49,017 | +€12,551 | +34.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -89.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -89.0% |
| Financial charges | 65/66B | €15,122 | €13,029 | -€2,094 | -13.8% |
| Recurring financial charges | 65 | €15,122 | €13,029 | -€2,094 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €21,345 | €35,988 | +€14,644 | +68.6% |
| Income taxes | 67/77 | €9,758 | €9,928 | +€170 | +1.7% |
| Profit (loss) for the period | 9904 | €11,586 | €26,060 | +€14,474 | +125% |
| Profit (loss) for the period to be appropriated | 9905 | €11,586 | €26,060 | +€14,474 | +125% |
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 23 October 2026 via checked.be.