NF 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.
NF Immo
Largest movements
- Financial fixed assets +€463,805
new in 2025: €463,805
- Receivables within one year +€102,376
up €102,376 (+277.7%), from €36,867 to €139,243
of which Other amounts receivable: +€100,000
- Cash -€96,609
down €96,609 (-71.9%), from €134,336 to €37,727
mainly Investment in fixed assets (net) (-€463,805) and Receivables within one year (-€102,376)
- Tangible fixed assets -€80,603
down €80,603 (-5.6%), from €1.4m to €1.3m
- Debts after one year +€176,039
up €176,039 (+20.5%), from €858,676 to €1.0m
- Other debts +€153,700
up €153,700 (+167.0%), from €92,058 to €245,758
- Reserves +€47,400
up €47,400 (+17.4%), from €271,905 to €319,305
- Depreciation -€5,889
down €5,889 (-6.8%), from €86,492 to €80,603
- Financial charges -€4,990
down €4,990 (-17.7%), from €28,226 to €23,236
- Taxes +€4,561
up €4,561 (+23.1%), from €19,712 to €24,273
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 | €1,601,376 | €1,989,699 | +€388,324 | +24.2% |
| Fixed assets | 21/28 | €1,429,372 | €1,812,574 | +€383,202 | +26.8% |
| Tangible fixed assets | 22/27 | €1,429,372 | €1,348,769 | -€80,603 | -5.6% |
| Land and buildings | 22 | €1,429,372 | €1,348,769 | -€80,603 | -5.6% |
| Financial fixed assets | 28 | - | €463,805 | +€463,805 | |
| Current assets | 29/58 | €172,004 | €177,125 | +€5,122 | +3.0% |
| Amounts receivable within one year | 40/41 | €36,867 | €139,243 | +€102,376 | +277.7% |
| Trade receivables | 40 | €2,867 | €5,243 | +€2,376 | +82.9% |
| Other amounts receivable | 41 | €34,000 | €134,000 | +€100,000 | +294.1% |
| Cash at bank and in hand | 54/58 | €134,336 | €37,727 | -€96,609 | -71.9% |
| Deferred charges and accrued income | 490/1 | €800 | €154 | -€646 | -80.7% |
| Total equity and liabilities | 10/49 | €1,601,376 | €1,989,699 | +€388,324 | +24.2% |
| Equity | 10/15 | €271,934 | €319,342 | +€47,408 | +17.4% |
| Reserves | 13 | €271,905 | €319,305 | +€47,400 | +17.4% |
| Distributable reserves | 133 | €271,905 | €319,305 | +€47,400 | +17.4% |
| Profit (loss) carried forward | 14 | €29 | €37 | +€8 | +28.0% |
| Provisions and deferred taxes | 16 | €240,878 | €240,878 | = | 0.0% |
| Deferred taxes | 168 | €240,878 | €240,878 | = | 0.0% |
| Amounts payable | 17/49 | €1,088,564 | €1,429,480 | +€340,916 | +31.3% |
| Amounts payable after more than one year | 17 | €858,676 | €1,034,714 | +€176,039 | +20.5% |
| Financial debts | 170/4 | €858,676 | €1,034,714 | +€176,039 | +20.5% |
| Amounts payable within one year | 42/48 | €229,888 | €391,761 | +€161,873 | +70.4% |
| Current portion of amounts payable after more than one year | 42 | €117,761 | €118,720 | +€959 | +0.8% |
| Financial debts | 43 | - | €652 | +€652 | |
| Credit institutions | 430/8 | - | €652 | +€652 | |
| Trade debts | 44 | €357 | €2,358 | +€2,001 | +560.5% |
| Suppliers | 440/4 | €357 | €2,358 | +€2,001 | +560.5% |
| Taxes, remuneration and social security | 45 | €19,712 | €24,273 | +€4,561 | +23.1% |
| Taxes | 450/3 | €19,712 | €24,273 | +€4,561 | +23.1% |
| Other amounts payable | 47/48 | €92,058 | €245,758 | +€153,700 | +167.0% |
| Accrued charges and deferred income | 492/3 | - | €3,004 | +€3,004 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,492 | €80,603 | -€5,889 | -6.8% |
| Other operating charges | 640/8 | €1,040 | €1,048 | +€7 | +0.7% |
| Gross operating margin | 9900 | €177,641 | €176,567 | -€1,074 | -0.6% |
| Operating profit (loss) | 9901 | €90,109 | €94,917 | +€4,808 | +5.3% |
| Financial charges | 65/66B | €28,226 | €23,236 | -€4,990 | -17.7% |
| Recurring financial charges | 65 | €28,226 | €23,236 | -€4,990 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €61,883 | €71,681 | +€9,798 | +15.8% |
| Income taxes | 67/77 | €19,712 | €24,273 | +€4,561 | +23.1% |
| Profit (loss) for the period | 9904 | €42,171 | €47,408 | +€5,237 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €42,171 | €47,408 | +€5,237 | +12.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.