P&P 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&P IMMO
Largest movements
- Receivables within one year -€134,063
down €134,063 (-57.7%), from €232,395 to €98,332
of which Other amounts receivable: -€134,108
- Stocks and contracts -€91,706
down €91,706 (-7.8%), from €1.2m to €1.1m
- Cash +€38,452
up €38,452 (+7.4%), from €523,051 to €561,503
mainly Net result for the year (+€1.0m) and Receivables within one year (+€134,063)
- Tangible fixed assets +€28,293
up €28,293 (+7.9%), from €357,805 to €386,099
of which Furniture and vehicles: +€41,685
- Contributions -€1.2m
down €1.2m (-99.3%), from €1.2m to €9,000
- Reserves +€1.0m
up €1.0m (+113%), from €903,926 to €1.9m
- Other debts +€53,909
up €53,909 (+46.4%), from €116,231 to €170,140
- Tax, wage and social debts -€32,919
down €32,919 (-64.6%), from €50,997 to €18,078
- Taxes +€73,162
up €73,162 (+17.6%), from €415,946 to €489,108
- Gross operating margin +€71,409
up €71,409 (+4.9%), from €1.5m to €1.5m
- Write-downs +€21,846
up €21,846 (+43.9%), from -€49,791 to -€27,945
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 | €2,286,790 | €2,132,012 | -€154,778 | -6.8% |
| Fixed assets | 21/28 | €357,805 | €386,099 | +€28,293 | +7.9% |
| Tangible fixed assets | 22/27 | €357,805 | €386,099 | +€28,293 | +7.9% |
| Land and buildings | 22 | €356,709 | €343,317 | -€13,392 | -3.8% |
| Furniture and vehicles | 24 | €1,097 | €42,782 | +€41,685 | +3,801% |
| Current assets | 29/58 | €1,928,984 | €1,745,914 | -€183,071 | -9.5% |
| Stocks and contracts in progress | 3 | €1,169,936 | €1,078,229 | -€91,706 | -7.8% |
| Stocks | 30/36 | €1,169,936 | €1,078,229 | -€91,706 | -7.8% |
| Amounts receivable within one year | 40/41 | €232,395 | €98,332 | -€134,063 | -57.7% |
| Trade receivables | 40 | - | €45 | +€45 | |
| Other amounts receivable | 41 | €232,395 | €98,287 | -€134,108 | -57.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €523,051 | €561,503 | +€38,452 | +7.4% |
| Deferred charges and accrued income | 490/1 | €3,603 | €7,850 | +€4,247 | +118% |
| Total equity and liabilities | 10/49 | €2,286,790 | €2,132,012 | -€154,778 | -6.8% |
| Equity | 10/15 | €2,112,926 | €1,938,471 | -€174,455 | -8.3% |
| Contributions | 10/11 | €1,209,000 | €9,000 | -€1.2m | -99.3% |
| Reserves | 13 | €903,926 | €1,929,471 | +€1.0m | +113% |
| Distributable reserves | 133 | €903,926 | €1,929,471 | +€1.0m | +113% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €173,864 | €193,541 | +€19,677 | +11.3% |
| Amounts payable within one year | 42/48 | €168,912 | €188,586 | +€19,674 | +11.6% |
| Trade debts | 44 | €1,683 | €367 | -€1,317 | -78.2% |
| Suppliers | 440/4 | €1,683 | €367 | -€1,317 | -78.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €50,997 | €18,078 | -€32,919 | -64.6% |
| Taxes | 450/3 | €50,997 | €18,078 | -€32,919 | -64.6% |
| Other amounts payable | 47/48 | €116,231 | €170,140 | +€53,909 | +46.4% |
| Accrued charges and deferred income | 492/3 | €4,952 | €4,956 | +€3 | +0.1% |
| Non-recurring operating income | 76A | - | €2,000 | +€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,460 | €17,584 | +€1,124 | +6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€49,791 | -€27,945 | +€21,846 | +43.9% |
| Other operating charges | 640/8 | €5,284 | €5,431 | +€147 | +2.8% |
| Gross operating margin | 9900 | €1,460,394 | €1,531,802 | +€71,409 | +4.9% |
| Operating profit (loss) | 9901 | €1,488,440 | €1,536,732 | +€48,292 | +3.2% |
| Financial income | 75/76B | €11,263 | €1 | -€11,262 | -100.0% |
| Recurring financial income | 75 | €11,263 | €1 | -€11,262 | -100.0% |
| Financial charges | 65/66B | €3,658 | €3,543 | -€115 | -3.1% |
| Recurring financial charges | 65 | €3,658 | €3,543 | -€115 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €1,496,045 | €1,533,190 | +€37,145 | +2.5% |
| Income taxes | 67/77 | €415,946 | €489,108 | +€73,162 | +17.6% |
| Profit (loss) for the period | 9904 | €1,080,099 | €1,044,082 | -€36,017 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,080,099 | €1,044,082 | -€36,017 | -3.3% |
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 17 October 2026 via checked.be.