NATIONAL IMMO GROUP: 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.
NATIONAL IMMO GROUP
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€85,906
up €85,906 (+20.9%), from €410,429 to €496,335
- Debts after one year -€43,311
down €43,311 (-7.5%), from €575,180 to €531,869
of which Financial debts: -€31,701
- Profit (loss) carried forward -€29,808
down €29,808, from €2,847 to -€26,961
- Tax, wage and social debts -€27,984
down €27,984 (-73.9%), from €37,850 to €9,866
of which Taxes: -€26,371
- Gross operating margin -€105,540
down €105,540 (-54.4%), from €193,945 to €88,405
- Taxes +€7,539
up €7,539 (+35.6%), from €21,201 to €28,740
- Financial charges -€2,627
down €2,627 (-4.7%), from €56,118 to €53,491
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 | €1,581,794 | €1,568,041 | -€13,753 | -0.9% |
| Fixed assets | 21/28 | €1,567,250 | €1,565,754 | -€1,496 | -0.1% |
| Tangible fixed assets | 22/27 | €1,567,250 | €1,565,754 | -€1,496 | -0.1% |
| Land and buildings | 22 | €1,546,805 | €1,546,805 | = | 0.0% |
| Plant, machinery and equipment | 23 | €11,965 | €8,496 | -€3,469 | -29.0% |
| Furniture and vehicles | 24 | - | €1,973 | +€1,973 | |
| Other tangible fixed assets | 26 | €8,480 | €8,480 | = | 0.0% |
| Current assets | 29/58 | €14,544 | €2,287 | -€12,257 | -84.3% |
| Amounts receivable within one year | 40/41 | €0 | €0 | = | 0.0% |
| Other amounts receivable | 41 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,272 | €2,286 | -€8,985 | -79.7% |
| Deferred charges and accrued income | 490/1 | €3,272 | - | -€3,272 | |
| Total equity and liabilities | 10/49 | €1,581,794 | €1,568,041 | -€13,753 | -0.9% |
| Equity | 10/15 | €481,006 | €451,198 | -€29,808 | -6.2% |
| Contributions | 10/11 | €315,126 | €315,126 | = | 0.0% |
| Reserves | 13 | €163,033 | €163,033 | = | 0.0% |
| Distributable reserves | 133 | €163,033 | €163,033 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,847 | -€26,961 | -€29,808 | |
| Amounts payable | 17/49 | €1,100,788 | €1,116,844 | +€16,055 | +1.5% |
| Amounts payable after more than one year | 17 | €575,180 | €531,869 | -€43,311 | -7.5% |
| Financial debts | 170/4 | €550,670 | €518,969 | -€31,701 | -5.8% |
| Other amounts payable | 178/9 | €24,510 | €12,900 | -€11,610 | -47.4% |
| Amounts payable within one year | 42/48 | €525,609 | €583,235 | +€57,626 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €74,898 | €76,701 | +€1,803 | +2.4% |
| Trade debts | 44 | €2,431 | €333 | -€2,098 | -86.3% |
| Suppliers | 440/4 | €2,431 | €333 | -€2,098 | -86.3% |
| Taxes, remuneration and social security | 45 | €37,850 | €9,866 | -€27,984 | -73.9% |
| Taxes | 450/3 | €35,768 | €9,397 | -€26,371 | -73.7% |
| Remuneration and social security | 454/9 | €2,083 | €469 | -€1,614 | -77.5% |
| Other amounts payable | 47/48 | €410,429 | €496,335 | +€85,906 | +20.9% |
| Accrued charges and deferred income | 492/3 | - | €1,740 | +€1,740 | |
| Remuneration, social security and pensions | 62 | €21,728 | €21,873 | +€146 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,718 | €4,061 | +€342 | +9.2% |
| Other operating charges | 640/8 | €10,516 | €10,048 | -€468 | -4.4% |
| Gross operating margin | 9900 | €193,945 | €88,405 | -€105,540 | -54.4% |
| Operating profit (loss) | 9901 | €157,983 | €52,423 | -€105,560 | -66.8% |
| Financial income | 75/76B | €75 | €0 | -€75 | -100.0% |
| Recurring financial income | 75 | €75 | €0 | -€75 | -100.0% |
| Financial charges | 65/66B | €56,118 | €53,491 | -€2,627 | -4.7% |
| Recurring financial charges | 65 | €56,118 | €53,491 | -€2,627 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €101,940 | -€1,068 | -€103,008 | |
| Income taxes | 67/77 | €21,201 | €28,740 | +€7,539 | +35.6% |
| Profit (loss) for the period | 9904 | €80,739 | -€29,808 | -€110,547 | |
| Profit (loss) for the period to be appropriated | 9905 | €80,739 | -€29,808 | -€110,547 |
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 31 October 2026 via checked.be.