NEW IMMO STUDIES: 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.
NEW IMMO STUDIES
Largest movements
- Current investments +€200,288
new in 2025: €200,288
- Receivables within one year -€105,695
down €105,695 (-76.0%), from €139,123 to €33,428
of which Trade receivables: -€110,897
- Cash +€70,673
up €70,673 (+341.3%), from €20,706 to €91,380
mainly Net result for the year (+€134,003) and Receivables within one year (+€105,695)
- Deferred charges and accrued income +€33,500
up €33,500 (+4432.6%), from €756 to €34,256
- Tangible fixed assets -€10,616
down €10,616 (-53.8%), from €19,744 to €9,128
- Profit (loss) carried forward +€134,003
up €134,003, from -€77,769 to €56,234
- Tax, wage and social debts +€46,689
up €46,689 (+325.3%), from €14,354 to €61,043
of which Taxes: +€59,749
- Other debts +€9,239
up €9,239 (+30.6%), from €30,190 to €39,429
- Gross operating margin +€177,389
up €177,389 (+413.8%), from €42,864 to €220,253
- Taxes +€61,753
up €61,753, from €0 to €61,753
- Staff costs -€34,321
down €34,321 (-73.3%), from €46,839 to €12,519
- Depreciation -€3,588
down €3,588 (-25.3%), from €14,204 to €10,616
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 | €181,604 | €369,754 | +€188,150 | +103.6% |
| Fixed assets | 21/28 | €21,019 | €10,403 | -€10,616 | -50.5% |
| Tangible fixed assets | 22/27 | €19,744 | €9,128 | -€10,616 | -53.8% |
| Furniture and vehicles | 24 | €19,744 | €9,128 | -€10,616 | -53.8% |
| Financial fixed assets | 28 | €1,275 | €1,275 | = | 0.0% |
| Current assets | 29/58 | €160,586 | €359,352 | +€198,766 | +123.8% |
| Amounts receivable within one year | 40/41 | €139,123 | €33,428 | -€105,695 | -76.0% |
| Trade receivables | 40 | €115,373 | €4,476 | -€110,897 | -96.1% |
| Other amounts receivable | 41 | €23,751 | €28,952 | +€5,201 | +21.9% |
| Current investments | 50/53 | - | €200,288 | +€200,288 | |
| Cash at bank and in hand | 54/58 | €20,706 | €91,380 | +€70,673 | +341.3% |
| Deferred charges and accrued income | 490/1 | €756 | €34,256 | +€33,500 | +4432.6% |
| Total equity and liabilities | 10/49 | €181,604 | €369,754 | +€188,150 | +103.6% |
| Equity | 10/15 | €64,431 | €198,434 | +€134,003 | +208.0% |
| Contributions | 10/11 | €142,200 | €142,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,769 | €56,234 | +€134,003 | |
| Amounts payable | 17/49 | €117,174 | €171,321 | +€54,147 | +46.2% |
| Amounts payable within one year | 42/48 | €117,174 | €171,321 | +€54,147 | +46.2% |
| Trade debts | 44 | €72,630 | €70,849 | -€1,781 | -2.5% |
| Suppliers | 440/4 | €72,630 | €70,849 | -€1,781 | -2.5% |
| Taxes, remuneration and social security | 45 | €14,354 | €61,043 | +€46,689 | +325.3% |
| Taxes | 450/3 | €0 | €59,749 | +€59,749 | |
| Remuneration and social security | 454/9 | €14,354 | €1,294 | -€13,060 | -91.0% |
| Other amounts payable | 47/48 | €30,190 | €39,429 | +€9,239 | +30.6% |
| Remuneration, social security and pensions | 62 | €46,839 | €12,519 | -€34,321 | -73.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,204 | €10,616 | -€3,588 | -25.3% |
| Other operating charges | 640/8 | €775 | €445 | -€330 | -42.6% |
| Gross operating margin | 9900 | €42,864 | €220,253 | +€177,389 | +413.8% |
| Operating profit (loss) | 9901 | -€18,954 | €196,673 | +€215,627 | |
| Financial income | 75/76B | - | €16 | +€16 | |
| Recurring financial income | 75 | - | €16 | +€16 | |
| Financial charges | 65/66B | €182 | €933 | +€751 | +412.0% |
| Recurring financial charges | 65 | €182 | €221 | +€38 | +21.1% |
| Non-recurring financial charges | 66B | - | €712 | +€712 | |
| Profit (loss) for the period before taxes | 9903 | -€19,136 | €195,756 | +€214,893 | |
| Income taxes | 67/77 | €0 | €61,753 | +€61,753 | |
| Profit (loss) for the period | 9904 | -€19,136 | €134,003 | +€153,139 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,136 | €134,003 | +€153,139 |
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 9 October 2026 via checked.be.