P & L 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 & L IMMO
Largest movements
- Deferred charges and accrued income -€404,623
down €404,623 (-99.7%), from €405,691 to €1,069
- Tangible fixed assets +€230,295
up €230,295 (+109%), from €211,075 to €441,370
of which Land and buildings: +€229,348
- Stocks and contracts +€94,447
new in 2025: €94,447
- Cash -€82,370
down €82,370 (-71.1%), from €115,848 to €33,478
mainly Short-term financial debts (-€385,000) and Investment in fixed assets (net) (-€249,995)
- Short-term financial debts -€385,000
no longer reported in 2025 (was €385,000)
- Debts after one year +€67,684
up €67,684 (+26.0%), from €260,350 to €328,034
- Reserves +€61,068
up €61,068 (+77.2%), from €79,123 to €140,191
of which Distributable reserves: +€61,068
- Tax, wage and social debts +€41,133
up €41,133 (+1,141%), from €3,606 to €44,738
- Trade debts +€34,258
up €34,258 (+759%), from €4,515 to €38,773
- Gross operating margin +€174,187
up €174,187 (+573%), from €30,377 to €204,564
- Taxes +€40,905
up €40,905 (+21,764%), from €188 to €41,093
- Other operating charges +€25,871
up €25,871 (+410%), from €6,309 to €32,180
- Financial charges +€8,286
up €8,286 (+44.6%), from €18,594 to €26,881
of which Financial charges: +€9,190
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 | €740,121 | €582,273 | -€157,849 | -21.3% |
| Fixed assets | 21/28 | €211,100 | €441,395 | +€230,295 | +109% |
| Tangible fixed assets | 22/27 | €211,075 | €441,370 | +€230,295 | +109% |
| Land and buildings | 22 | €205,428 | €434,776 | +€229,348 | +112% |
| Furniture and vehicles | 24 | €4,645 | €5,592 | +€947 | +20.4% |
| Assets under construction and advance payments | 27 | €1,002 | €1,002 | = | 0.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €529,021 | €140,878 | -€388,144 | -73.4% |
| Stocks and contracts in progress | 3 | - | €94,447 | +€94,447 | |
| Stocks | 30/36 | - | €94,447 | +€94,447 | |
| Amounts receivable within one year | 40/41 | €7,482 | €11,884 | +€4,402 | +58.8% |
| Trade receivables | 40 | €225 | €177 | -€48 | -21.2% |
| Other amounts receivable | 41 | €7,257 | €11,707 | +€4,450 | +61.3% |
| Cash at bank and in hand | 54/58 | €115,848 | €33,478 | -€82,370 | -71.1% |
| Deferred charges and accrued income | 490/1 | €405,691 | €1,069 | -€404,623 | -99.7% |
| Total equity and liabilities | 10/49 | €740,121 | €582,273 | -€157,849 | -21.3% |
| Equity | 10/15 | €73,420 | €158,741 | +€85,321 | +116% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €79,123 | €140,191 | +€61,068 | +77.2% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €77,268 | €138,336 | +€61,068 | +79.0% |
| Profit (loss) carried forward | 14 | -€24,253 | - | +€24,253 | |
| Amounts payable | 17/49 | €666,702 | €423,532 | -€243,170 | -36.5% |
| Amounts payable after more than one year | 17 | €260,350 | €328,034 | +€67,684 | +26.0% |
| Financial debts | 170/4 | €260,350 | €328,034 | +€67,684 | +26.0% |
| Amounts payable within one year | 42/48 | €403,450 | €93,973 | -€309,477 | -76.7% |
| Current portion of amounts payable after more than one year | 42 | €10,330 | €10,462 | +€132 | +1.3% |
| Financial debts | 43 | €385,000 | - | -€385,000 | |
| Credit institutions | 430/8 | €385,000 | - | -€385,000 | |
| Trade debts | 44 | €4,515 | €38,773 | +€34,258 | +759% |
| Suppliers | 440/4 | €4,515 | €38,773 | +€34,258 | +759% |
| Taxes, remuneration and social security | 45 | €3,606 | €44,738 | +€41,133 | +1,141% |
| Taxes | 450/3 | €3,606 | €44,738 | +€41,133 | +1,141% |
| Accrued charges and deferred income | 492/3 | €2,901 | €1,525 | -€1,377 | -47.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,162 | €19,700 | +€1,538 | +8.5% |
| Other operating charges | 640/8 | €6,309 | €32,180 | +€25,871 | +410% |
| Gross operating margin | 9900 | €30,377 | €204,564 | +€174,187 | +573% |
| Operating profit (loss) | 9901 | €5,906 | €152,684 | +€146,778 | +2,485% |
| Financial income | 75/76B | €361 | €657 | +€296 | +81.8% |
| Recurring financial income | 75 | €361 | €657 | +€296 | +81.8% |
| Financial charges | 65/66B | €18,594 | €26,881 | +€8,286 | +44.6% |
| Recurring financial charges | 65 | €11,454 | €20,644 | +€9,190 | +80.2% |
| Non-recurring financial charges | 66B | €7,141 | €6,237 | -€904 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | -€12,327 | €126,461 | +€138,788 | |
| Income taxes | 67/77 | €188 | €41,093 | +€40,905 | +21,764% |
| Profit (loss) for the period | 9904 | -€12,515 | €85,368 | +€97,883 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,515 | €85,368 | +€97,883 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.