PEARL 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.
PEARL IMMO
Largest movements
- Tangible fixed assets +€195,524
up €195,524 (+28.2%), from €693,294 to €888,818
of which Land and buildings: +€195,829
- Receivables within one year +€11,048
up €11,048 (+315.9%), from €3,498 to €14,546
of which Trade receivables: +€11,673
- Cash -€9,410
down €9,410 (-88.5%), from €10,631 to €1,221
mainly Investment in fixed assets (net) (-€220,000) and Net result for the year (-€95,954)
- Debts after one year +€251,606
up €251,606 (+36.9%), from €681,595 to €933,200
- Profit (loss) carried forward -€95,954
down €95,954 (-80.5%), from -€119,202 to -€215,156
- Other debts +€43,917
up €43,917 (+825.6%), from €5,319 to €49,236
- Gross operating margin -€53,012
down €53,012, from €52,782 to -€229
- Other operating charges +€22,244
up €22,244 (+545.9%), from €4,075 to €26,319
- Depreciation -€20,861
down €20,861 (-46.0%), from €45,337 to €24,476
- Financial charges +€19,640
up €19,640 (+77.7%), from €25,289 to €44,929
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 | €708,063 | €904,585 | +€196,522 | +27.8% |
| Fixed assets | 21/28 | €693,294 | €888,818 | +€195,524 | +28.2% |
| Tangible fixed assets | 22/27 | €693,294 | €888,818 | +€195,524 | +28.2% |
| Land and buildings | 22 | €690,623 | €886,451 | +€195,829 | +28.4% |
| Other tangible fixed assets | 26 | €2,672 | €2,367 | -€305 | -11.4% |
| Current assets | 29/58 | €14,768 | €15,767 | +€999 | +6.8% |
| Amounts receivable within one year | 40/41 | €3,498 | €14,546 | +€11,048 | +315.9% |
| Trade receivables | 40 | - | €11,673 | +€11,673 | |
| Other amounts receivable | 41 | €3,498 | €2,873 | -€625 | -17.9% |
| Cash at bank and in hand | 54/58 | €10,631 | €1,221 | -€9,410 | -88.5% |
| Deferred charges and accrued income | 490/1 | €639 | - | -€639 | |
| Total equity and liabilities | 10/49 | €708,063 | €904,585 | +€196,522 | +27.8% |
| Equity | 10/15 | €18,103 | -€77,851 | -€95,954 | |
| Contributions | 10/11 | €137,305 | €137,305 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€119,202 | -€215,156 | -€95,954 | -80.5% |
| Amounts payable | 17/49 | €689,960 | €982,436 | +€292,476 | +42.4% |
| Amounts payable after more than one year | 17 | €681,595 | €933,200 | +€251,606 | +36.9% |
| Financial debts | 170/4 | €681,595 | €933,200 | +€251,606 | +36.9% |
| Amounts payable within one year | 42/48 | €8,365 | €49,236 | +€40,871 | +488.6% |
| Trade debts | 44 | €602 | - | -€602 | |
| Suppliers | 440/4 | €602 | - | -€602 | |
| Taxes, remuneration and social security | 45 | €2,444 | - | -€2,444 | |
| Taxes | 450/3 | €2,444 | - | -€2,444 | |
| Other amounts payable | 47/48 | €5,319 | €49,236 | +€43,917 | +825.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,337 | €24,476 | -€20,861 | -46.0% |
| Other operating charges | 640/8 | €4,075 | €26,319 | +€22,244 | +545.9% |
| Gross operating margin | 9900 | €52,782 | -€229 | -€53,012 | |
| Operating profit (loss) | 9901 | €3,370 | -€51,025 | -€54,395 | |
| Financial charges | 65/66B | €25,289 | €44,929 | +€19,640 | +77.7% |
| Recurring financial charges | 65 | €25,289 | €44,929 | +€19,640 | +77.7% |
| Profit (loss) for the period before taxes | 9903 | -€21,919 | -€95,954 | -€74,035 | -337.8% |
| Profit (loss) for the period | 9904 | -€21,919 | -€95,954 | -€74,035 | -337.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,919 | -€95,954 | -€74,035 | -337.8% |
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 11 October 2026 via checked.be.