P.J. 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.
P.J. IMMO
Largest movements
- Receivables within one year +€39,192
up €39,192 (+454%), from €8,635 to €47,827
of which Trade receivables: +€38,842
- Stocks and contracts +€28,873
up €28,873 (+113%), from €25,487 to €54,360
- Tangible fixed assets -€14,803
down €14,803 (-2.9%), from €511,242 to €496,438
of which Land and buildings: -€13,783
- Cash -€12,301
down €12,301 (-62.2%), from €19,790 to €7,488
mainly Receivables within one year (-€39,192) and Stocks and contracts (-€28,873)
- Trade debts +€44,607
up €44,607 (+91.3%), from €48,864 to €93,471
- Profit (loss) carried forward -€11,034
down €11,034 (-3.1%), from -€351,571 to -€362,605
- Tax, wage and social debts +€9,382
up €9,382 (+151%), from €6,207 to €15,589
- Gross operating margin -€5,820
down €5,820 (-43.1%), from €13,510 to €7,690
- Other operating charges -€831
down €831 (-25.9%), from €3,210 to €2,379
- Taxes +€493
up €493 (+250%), from €197 to €690
- Financial income +€279
up €279 (+475%), from €59 to €337
- Depreciation +€228
up €228 (+1.5%), from €15,086 to €15,314
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €566,203 | €608,995 | +€42,791 | +7.6% |
| Fixed assets | 21/28 | €511,242 | €497,428 | -€13,813 | -2.7% |
| Tangible fixed assets | 22/27 | €511,242 | €496,438 | -€14,803 | -2.9% |
| Land and buildings | 22 | €504,924 | €491,141 | -€13,783 | -2.7% |
| Plant, machinery and equipment | 23 | €3,332 | €3,055 | -€277 | -8.3% |
| Furniture and vehicles | 24 | €2,986 | €2,243 | -€744 | -24.9% |
| Financial fixed assets | 28 | - | €990 | +€990 | |
| Current assets | 29/58 | €54,962 | €111,566 | +€56,605 | +103% |
| Stocks and contracts in progress | 3 | €25,487 | €54,360 | +€28,873 | +113% |
| Stocks | 30/36 | €25,487 | €54,360 | +€28,873 | +113% |
| Amounts receivable within one year | 40/41 | €8,635 | €47,827 | +€39,192 | +454% |
| Trade receivables | 40 | €3,694 | €42,536 | +€38,842 | +1,051% |
| Other amounts receivable | 41 | €4,941 | €5,291 | +€350 | +7.1% |
| Cash at bank and in hand | 54/58 | €19,790 | €7,488 | -€12,301 | -62.2% |
| Deferred charges and accrued income | 490/1 | €1,050 | €1,891 | +€841 | +80.0% |
| Total equity and liabilities | 10/49 | €566,203 | €608,995 | +€42,791 | +7.6% |
| Equity | 10/15 | €80,429 | €69,395 | -€11,034 | -13.7% |
| Contributions | 10/11 | €230,000 | €230,000 | = | 0.0% |
| Capital | 10 | €230,000 | €230,000 | = | 0.0% |
| Issued capital | 100 | €230,000 | €230,000 | = | 0.0% |
| Revaluation surpluses | 12 | €192,235 | €192,235 | = | 0.0% |
| Reserves | 13 | €9,765 | €9,765 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €7,765 | €7,765 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€351,571 | -€362,605 | -€11,034 | -3.1% |
| Amounts payable | 17/49 | €485,774 | €539,599 | +€53,826 | +11.1% |
| Amounts payable within one year | 42/48 | €485,774 | €539,599 | +€53,826 | +11.1% |
| Trade debts | 44 | €48,864 | €93,471 | +€44,607 | +91.3% |
| Suppliers | 440/4 | €48,864 | €93,471 | +€44,607 | +91.3% |
| Taxes, remuneration and social security | 45 | €6,207 | €15,589 | +€9,382 | +151% |
| Taxes | 450/3 | €6,207 | €15,589 | +€9,382 | +151% |
| Other amounts payable | 47/48 | €430,704 | €430,540 | -€164 | 0.0% |
| Non-recurring operating income | 76A | €6,647 | - | -€6,647 | |
| Remuneration, social security and pensions | 62 | - | €36 | +€36 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,086 | €15,314 | +€228 | +1.5% |
| Other operating charges | 640/8 | €3,210 | €2,379 | -€831 | -25.9% |
| Gross operating margin | 9900 | €13,510 | €7,690 | -€5,820 | -43.1% |
| Operating profit (loss) | 9901 | -€4,785 | -€10,039 | -€5,254 | -110% |
| Financial income | 75/76B | €59 | €337 | +€279 | +475% |
| Recurring financial income | 75 | €59 | €337 | +€279 | +475% |
| Financial charges | 65/66B | €637 | €643 | +€5 | +0.9% |
| Recurring financial charges | 65 | €637 | €643 | +€5 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | -€5,364 | -€10,344 | -€4,980 | -92.8% |
| Income taxes | 67/77 | €197 | €690 | +€493 | +250% |
| Profit (loss) for the period | 9904 | -€5,561 | -€11,034 | -€5,473 | -98.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,561 | -€11,034 | -€5,473 | -98.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.