LOCAFRA - IMMO: 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.
LOCAFRA - IMMO
Largest movements
- Receivables after one year -€268,198
down €268,198 (-53.2%), from €504,369 to €236,170
- Cash -€107,192
down €107,192 (-86.2%), from €124,373 to €17,181
mainly Contributions, distributions and other (-€396,450) and Investment in fixed assets (net) (-€58,075)
- Contributions -€206,991
no longer reported in 2025 (was €206,991)
- Reserves -€138,373
down €138,373 (-22.0%), from €629,603 to €491,230
of which Distributable reserves: -€117,719
- Other debts +€53,268
new in 2025: €53,268
- Debts after one year -€46,179
down €46,179 (-7.4%), from €625,605 to €579,425
- Gross operating margin +€55,747
up €55,747 (+77.8%), from €71,669 to €127,417
- Depreciation +€13,118
up €13,118 (+29.8%), from €43,977 to €57,095
- Taxes +€6,912
up €6,912 (+60.0%), from €11,527 to €18,439
- Financial charges +€4,760
up €4,760 (+23.8%), from €20,002 to €24,763
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,856,518 | €1,497,735 | -€358,782 | -19.3% |
| Fixed assets | 21/28 | €1,186,587 | €1,187,567 | +€980 | +0.1% |
| Tangible fixed assets | 22/27 | €1,186,587 | €1,187,567 | +€980 | +0.1% |
| Land and buildings | 22 | €1,185,612 | €1,187,016 | +€1,404 | +0.1% |
| Plant, machinery and equipment | 23 | €976 | €551 | -€424 | -43.5% |
| Current assets | 29/58 | €669,931 | €310,168 | -€359,763 | -53.7% |
| Amounts receivable after more than one year | 29 | €504,369 | €236,170 | -€268,198 | -53.2% |
| Other amounts receivable | 291 | €504,369 | €236,170 | -€268,198 | -53.2% |
| Amounts receivable within one year | 40/41 | €21,443 | €25,716 | +€4,273 | +19.9% |
| Other amounts receivable | 41 | €21,443 | €25,716 | +€4,273 | +19.9% |
| Cash at bank and in hand | 54/58 | €124,373 | €17,181 | -€107,192 | -86.2% |
| Deferred charges and accrued income | 490/1 | €19,746 | €31,101 | +€11,354 | +57.5% |
| Total equity and liabilities | 10/49 | €1,856,518 | €1,497,735 | -€358,782 | -19.3% |
| Equity | 10/15 | €995,279 | €631,443 | -€363,836 | -36.6% |
| Contributions | 10/11 | €206,991 | - | -€206,991 | |
| Contributions outside capital | 11 | €206,991 | - | -€206,991 | |
| Other | 1109/19 | €206,991 | - | -€206,991 | |
| Revaluation surpluses | 12 | €140,213 | €140,213 | = | 0.0% |
| Reserves | 13 | €629,603 | €491,230 | -€138,373 | -22.0% |
| Tax-exempt reserves | 132 | €511,885 | €491,230 | -€20,654 | -4.0% |
| Distributable reserves | 133 | €117,719 | - | -€117,719 | |
| Profit (loss) carried forward | 14 | €18,472 | - | -€18,472 | |
| Provisions and deferred taxes | 16 | €170,628 | €163,743 | -€6,885 | -4.0% |
| Deferred taxes | 168 | €170,628 | €163,743 | -€6,885 | -4.0% |
| Amounts payable | 17/49 | €690,610 | €702,549 | +€11,938 | +1.7% |
| Amounts payable after more than one year | 17 | €625,605 | €579,425 | -€46,179 | -7.4% |
| Financial debts | 170/4 | €625,605 | €579,425 | -€46,179 | -7.4% |
| Amounts payable within one year | 42/48 | €65,006 | €123,123 | +€58,118 | +89.4% |
| Current portion of amounts payable after more than one year | 42 | €44,727 | €46,179 | +€1,453 | +3.2% |
| Trade debts | 44 | €5,585 | €4,209 | -€1,375 | -24.6% |
| Suppliers | 440/4 | €5,585 | €4,209 | -€1,375 | -24.6% |
| Taxes, remuneration and social security | 45 | €14,694 | €19,467 | +€4,773 | +32.5% |
| Taxes | 450/3 | €14,694 | €19,467 | +€4,773 | +32.5% |
| Other amounts payable | 47/48 | - | €53,268 | +€53,268 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,977 | €57,095 | +€13,118 | +29.8% |
| Other operating charges | 640/8 | €8,026 | €8,283 | +€257 | +3.2% |
| Gross operating margin | 9900 | €71,669 | €127,417 | +€55,747 | +77.8% |
| Operating profit (loss) | 9901 | €19,667 | €62,039 | +€42,372 | +215% |
| Financial income | 75/76B | €6,770 | €6,892 | +€122 | +1.8% |
| Recurring financial income | 75 | €6,770 | €6,892 | +€122 | +1.8% |
| Financial charges | 65/66B | €20,002 | €24,763 | +€4,760 | +23.8% |
| Recurring financial charges | 65 | €20,002 | €24,763 | +€4,760 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €6,434 | €44,168 | +€37,734 | +586% |
| Transfer from deferred taxes | 780 | €6,885 | €6,885 | = | 0.0% |
| Income taxes | 67/77 | €11,527 | €18,439 | +€6,912 | +60.0% |
| Profit (loss) for the period | 9904 | €1,791 | €32,614 | +€30,822 | +1,721% |
| Transfer from tax-exempt reserves | 789 | €20,654 | €20,654 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,446 | €53,268 | +€30,822 | +137% |
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 17 October 2026 via checked.be.