IP-IMMO: 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.
IP-IMMO
Largest movements
- Cash +€138,798
up €138,798 (+16.5%), from €840,391 to €979,189
mainly Depreciation (+€86,420) and Net result for the year (+€68,198)
- Tangible fixed assets -€69,017
down €69,017 (-5.7%), from €1.2m to €1.1m
- Other debts +€54,526
up €54,526 (+42.5%), from €128,383 to €182,909
- Gross operating margin -€36,053
down €36,053 (-13.0%), from €276,302 to €240,249
- Financial charges -€24,510
down €24,510 (-97.5%), from €25,146 to €636
- Other operating charges +€18,954
up €18,954 (+43.8%), from €43,308 to €62,262
- Taxes -€10,412
down €10,412 (-31.4%), from €33,145 to €22,733
- Financial income -€7,164
no longer reported in 2025 (was €7,164)
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 | €2,263,044 | €2,327,018 | +€63,974 | +2.8% |
| Fixed assets | 21/28 | €1,414,991 | €1,345,974 | -€69,017 | -4.9% |
| Tangible fixed assets | 22/27 | €1,208,391 | €1,139,374 | -€69,017 | -5.7% |
| Land and buildings | 22 | €1,208,391 | €1,139,374 | -€69,017 | -5.7% |
| Financial fixed assets | 28 | €206,600 | €206,600 | = | 0.0% |
| Current assets | 29/58 | €848,054 | €981,045 | +€132,991 | +15.7% |
| Amounts receivable within one year | 40/41 | €7,663 | €1,856 | -€5,807 | -75.8% |
| Other amounts receivable | 41 | €7,663 | €1,856 | -€5,807 | -75.8% |
| Cash at bank and in hand | 54/58 | €840,391 | €979,189 | +€138,798 | +16.5% |
| Total equity and liabilities | 10/49 | €2,263,044 | €2,327,018 | +€63,974 | +2.8% |
| Equity | 10/15 | €2,092,863 | €2,106,502 | +€13,640 | +0.7% |
| Contributions | 10/11 | €394,356 | €394,356 | = | 0.0% |
| Reserves | 13 | €1,698,506 | €1,712,146 | +€13,640 | +0.8% |
| Distributable reserves | 133 | €1,698,506 | €1,712,146 | +€13,640 | +0.8% |
| Amounts payable | 17/49 | €170,181 | €220,516 | +€50,334 | +29.6% |
| Amounts payable within one year | 42/48 | €170,181 | €220,516 | +€50,334 | +29.6% |
| Current portion of amounts payable after more than one year | 42 | €6,796 | €6,773 | -€23 | -0.3% |
| Trade debts | 44 | €35,003 | €28,101 | -€6,901 | -19.7% |
| Suppliers | 440/4 | €35,003 | €28,101 | -€6,901 | -19.7% |
| Taxes, remuneration and social security | 45 | - | €2,733 | +€2,733 | |
| Taxes | 450/3 | - | €2,733 | +€2,733 | |
| Other amounts payable | 47/48 | €128,383 | €182,909 | +€54,526 | +42.5% |
| Non-recurring operating income | 76A | €1,843 | - | -€1,843 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,434 | €86,420 | +€3,987 | +4.8% |
| Other operating charges | 640/8 | €43,308 | €62,262 | +€18,954 | +43.8% |
| Gross operating margin | 9900 | €276,302 | €240,249 | -€36,053 | -13.0% |
| Operating profit (loss) | 9901 | €150,560 | €91,567 | -€58,993 | -39.2% |
| Financial income | 75/76B | €7,164 | - | -€7,164 | |
| Recurring financial income | 75 | €7,164 | - | -€7,164 | |
| Financial charges | 65/66B | €25,146 | €636 | -€24,510 | -97.5% |
| Recurring financial charges | 65 | €25,146 | €636 | -€24,510 | -97.5% |
| Profit (loss) for the period before taxes | 9903 | €132,578 | €90,930 | -€41,648 | -31.4% |
| Income taxes | 67/77 | €33,145 | €22,733 | -€10,412 | -31.4% |
| Profit (loss) for the period | 9904 | €99,434 | €68,198 | -€31,236 | -31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €99,434 | €68,198 | -€31,236 | -31.4% |
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 1 October 2026 via checked.be.