IMOËR: 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
IMOËR
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
€31,384
2024 · €368,831-€337,447
Equity
€1.9m
2024 · €1.9m+€31,384
Cash
€72,049
2024 · €13,837+€58,211
Balance sheet total
€10.1m
2024 · €10.3m-€157,193
Largest movements
Assets
- Tangible fixed assets -€214,986
down €214,986 (-7.8%), from €2.7m to €2.5m
of which Land and buildings: -€171,597
Equity and liabilities
- Debts after one year -€474,223
down €474,223 (-7.0%), from €6.8m to €6.3m
- Advances received +€350,400
up €350,400 (+17,163%), from €2,042 to €352,442
Income statement
- Financial income -€341,048
down €341,048 (-87.4%), from €390,207 to €49,158
of which Non-recurring financial income: -€298,880
- Gross operating margin -€99,778
down €99,778 (-16.5%), from €604,677 to €504,899
- Financial charges +€90,902
up €90,902 (+51.8%), from €175,467 to €266,369
- Taxes -€32,405
down €32,405 (-45.6%), from €71,066 to €38,661
- Depreciation +€16,446
up €16,446 (+8.0%), from €205,548 to €221,994
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
€368,831
Gross operating margin
-€99,778
Staff costs
+€127
Depreciation
-€16,446
Other operating charges
+€13,319
Other operating items
+€66,989
Financial income
-€341,048
Financial charges
-€90,902
Taxes
+€32,405
Deferred taxes and other
+€97,887
Result 2025
€31,384
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
+€578,890
Investment
-€46,119
Financing
-€474,560
Cash 2024
€13,837
From operations (derived)
+€578,890
Net result for the year
+€31,384
Depreciation
+€221,994
Receivables within one year
+€8,514
Deferred charges and accrued income
+€31,015
Provisions
-€22,739
Trade debts
+€4,268
Tax, wage and social debts
+€38,840
Advances received
+€350,400
Other debts
-€80,604
Accrued charges and deferred income
-€4,183
Investment (derived)
-€46,119
Investment in fixed assets (net)
-€45,690
Current investments
-€429
Financing
-€474,560
Debts after one year
-€474,223
Current portion of long-term debt
-€337
Cash 2025
€72,049
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,293,570 | €10,136,377 | -€157,193 | -1.5% |
| Fixed assets | 21/28 | €10,077,371 | €9,901,066 | -€176,304 | -1.7% |
| Tangible fixed assets | 22/27 | €2,749,722 | €2,534,735 | -€214,986 | -7.8% |
| Land and buildings | 22 | €2,509,445 | €2,337,848 | -€171,597 | -6.8% |
| Plant, machinery and equipment | 23 | €1,019 | €4,457 | +€3,439 | +338% |
| Furniture and vehicles | 24 | €235,068 | €189,413 | -€45,656 | -19.4% |
| Other tangible fixed assets | 26 | €4,190 | €3,017 | -€1,173 | -28.0% |
| Financial fixed assets | 28 | €7,327,649 | €7,366,331 | +€38,682 | +0.5% |
| Current assets | 29/58 | €216,200 | €235,311 | +€19,111 | +8.8% |
| Amounts receivable within one year | 40/41 | €111,988 | €103,474 | -€8,514 | -7.6% |
| Trade receivables | 40 | €2,178 | - | -€2,178 | |
| Other amounts receivable | 41 | €109,810 | €103,474 | -€6,336 | -5.8% |
| Current investments | 50/53 | €51,572 | €52,001 | +€429 | +0.8% |
| Cash at bank and in hand | 54/58 | €13,837 | €72,049 | +€58,211 | +421% |
| Deferred charges and accrued income | 490/1 | €38,802 | €7,787 | -€31,015 | -79.9% |
| Total equity and liabilities | 10/49 | €10,293,570 | €10,136,377 | -€157,193 | -1.5% |
| Equity | 10/15 | €1,900,229 | €1,931,614 | +€31,384 | +1.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €2,165,354 | €2,097,137 | -€68,217 | -3.2% |
| Non-distributable reserves | 130/1 | €27,899 | €27,899 | = | 0.0% |
| Legal reserve | 130 | €27,897 | €27,897 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2 | €2 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,218,882 | €1,150,665 | -€68,217 | -5.6% |
| Distributable reserves | 133 | €918,573 | €918,573 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€326,624 | -€227,023 | +€99,601 | +30.5% |
| Provisions and deferred taxes | 16 | €365,281 | €342,542 | -€22,739 | -6.2% |
| Deferred taxes | 168 | €365,281 | €342,542 | -€22,739 | -6.2% |
| Amounts payable | 17/49 | €8,028,061 | €7,862,222 | -€165,839 | -2.1% |
| Amounts payable after more than one year | 17 | €6,756,443 | €6,282,220 | -€474,223 | -7.0% |
| Financial debts | 170/4 | €6,756,443 | €6,282,220 | -€474,223 | -7.0% |
| Amounts payable within one year | 42/48 | €1,207,108 | €1,519,674 | +€312,567 | +25.9% |
| Current portion of amounts payable after more than one year | 42 | €495,799 | €495,462 | -€337 | -0.1% |
| Trade debts | 44 | €904 | €5,172 | +€4,268 | +472% |
| Suppliers | 440/4 | €904 | €5,172 | +€4,268 | +472% |
| Advances received on contracts in progress | 46 | €2,042 | €352,442 | +€350,400 | +17,163% |
| Taxes, remuneration and social security | 45 | €35,642 | €74,482 | +€38,840 | +109% |
| Taxes | 450/3 | €35,642 | €74,482 | +€38,840 | +109% |
| Other amounts payable | 47/48 | €672,722 | €592,117 | -€80,604 | -12.0% |
| Accrued charges and deferred income | 492/3 | €64,510 | €60,328 | -€4,183 | -6.5% |
| Non-recurring operating income | 76A | €941 | €4,634 | +€3,693 | +393% |
| Remuneration, social security and pensions | 62 | €127 | - | -€127 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €205,548 | €221,994 | +€16,446 | +8.0% |
| Other operating charges | 640/8 | €31,706 | €18,387 | -€13,319 | -42.0% |
| Non-recurring operating charges | 66A | €66,989 | - | -€66,989 | |
| Gross operating margin | 9900 | €604,677 | €504,899 | -€99,778 | -16.5% |
| Operating profit (loss) | 9901 | €300,306 | €264,517 | -€35,789 | -11.9% |
| Financial income | 75/76B | €390,207 | €49,158 | -€341,048 | -87.4% |
| Recurring financial income | 75 | €48,935 | €6,767 | -€42,168 | -86.2% |
| Non-recurring financial income | 76B | €341,272 | €42,391 | -€298,880 | -87.6% |
| Financial charges | 65/66B | €175,467 | €266,369 | +€90,902 | +51.8% |
| Recurring financial charges | 65 | €175,467 | €266,369 | +€90,902 | +51.8% |
| Profit (loss) for the period before taxes | 9903 | €515,045 | €47,306 | -€467,739 | -90.8% |
| Transfer from deferred taxes | 780 | €22,739 | €22,739 | = | 0.0% |
| Transfer to deferred taxes | 680 | €97,887 | - | -€97,887 | |
| Income taxes | 67/77 | €71,066 | €38,661 | -€32,405 | -45.6% |
| Profit (loss) for the period | 9904 | €368,831 | €31,384 | -€337,447 | -91.5% |
| Transfer from tax-exempt reserves | 789 | €68,217 | €68,217 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €293,662 | - | -€293,662 | |
| Profit (loss) for the period to be appropriated | 9905 | €143,386 | €99,601 | -€43,784 | -30.5% |
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 15 October 2026 via checked.be.