NAA 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.
NAA IMMO
Largest movements
- Tangible fixed assets -€69,230
down €69,230 (-7.6%), from €905,666 to €836,436
- Receivables within one year +€13,190
up €13,190 (+22245.9%), from €59 to €13,249
of which Trade receivables: +€13,249
- Cash +€9,924
up €9,924 (+788.9%), from €1,258 to €11,182
mainly Depreciation (+€51,993) and Net result for the year (+€19,289)
- Debts after one year -€50,934
down €50,934 (-7.6%), from €667,446 to €616,512
of which Financial debts: -€53,574
- Trade debts -€26,644
down €26,644 (-42.2%), from €63,094 to €36,450
- Profit (loss) carried forward +€19,289
up €19,289 (+13.6%), from -€141,715 to -€122,426
- Other debts +€19,228
up €19,228 (+8.4%), from €228,966 to €248,194
- Gross operating margin +€24,633
up €24,633 (+26.2%), from €94,135 to €118,768
- Other operating charges +€12,926
up €12,926 (+66.7%), from €19,371 to €32,297
- Depreciation -€2,726
down €2,726 (-5.0%), from €54,719 to €51,993
- Financial charges -€1,403
down €1,403 (-8.5%), from €16,533 to €15,130
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 | €908,190 | €865,609 | -€42,581 | -4.7% |
| Fixed assets | 21/28 | €905,666 | €836,436 | -€69,230 | -7.6% |
| Tangible fixed assets | 22/27 | €905,666 | €836,436 | -€69,230 | -7.6% |
| Land and buildings | 22 | €905,666 | €836,436 | -€69,230 | -7.6% |
| Current assets | 29/58 | €2,524 | €29,174 | +€26,649 | +1055.7% |
| Amounts receivable within one year | 40/41 | €59 | €13,249 | +€13,190 | +22245.9% |
| Trade receivables | 40 | - | €13,249 | +€13,249 | |
| Other amounts receivable | 41 | €59 | - | -€59 | |
| Cash at bank and in hand | 54/58 | €1,258 | €11,182 | +€9,924 | +788.9% |
| Deferred charges and accrued income | 490/1 | €1,207 | €4,743 | +€3,536 | +292.9% |
| Total equity and liabilities | 10/49 | €908,190 | €865,609 | -€42,581 | -4.7% |
| Equity | 10/15 | -€114,915 | -€95,626 | +€19,289 | +16.8% |
| Contributions | 10/11 | €26,800 | €26,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€141,715 | -€122,426 | +€19,289 | +13.6% |
| Amounts payable | 17/49 | €1,023,105 | €961,236 | -€61,870 | -6.0% |
| Amounts payable after more than one year | 17 | €667,446 | €616,512 | -€50,934 | -7.6% |
| Financial debts | 170/4 | €656,846 | €603,272 | -€53,574 | -8.2% |
| Other amounts payable | 178/9 | €10,600 | €13,240 | +€2,640 | +24.9% |
| Amounts payable within one year | 42/48 | €350,867 | €338,218 | -€12,648 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €58,806 | €53,574 | -€5,232 | -8.9% |
| Trade debts | 44 | €63,094 | €36,450 | -€26,644 | -42.2% |
| Suppliers | 440/4 | €63,094 | €36,450 | -€26,644 | -42.2% |
| Other amounts payable | 47/48 | €228,966 | €248,194 | +€19,228 | +8.4% |
| Accrued charges and deferred income | 492/3 | €4,793 | €6,505 | +€1,713 | +35.7% |
| Non-recurring operating income | 76A | €535 | €12,023 | +€11,487 | +2145.5% |
| Remuneration, social security and pensions | 62 | €290 | - | -€290 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,719 | €51,993 | -€2,726 | -5.0% |
| Other operating charges | 640/8 | €19,371 | €32,297 | +€12,926 | +66.7% |
| Non-recurring operating charges | 66A | - | €59 | +€59 | |
| Gross operating margin | 9900 | €94,135 | €118,768 | +€24,633 | +26.2% |
| Operating profit (loss) | 9901 | €19,755 | €34,419 | +€14,664 | +74.2% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €16,533 | €15,130 | -€1,403 | -8.5% |
| Recurring financial charges | 65 | €16,533 | €15,130 | -€1,403 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €3,223 | €19,289 | +€16,066 | +498.5% |
| Profit (loss) for the period | 9904 | €3,223 | €19,289 | +€16,066 | +498.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,223 | €19,289 | +€16,066 | +498.5% |
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 3 October 2026 via checked.be.