Philippe 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.
Philippe L IMMO
Largest movements
- Tangible fixed assets -€24,480
down €24,480 (-6.3%), from €387,399 to €362,919
of which Other tangible fixed assets: -€24,480
- Deferred charges and accrued income +€20,646
up €20,646 (+34.4%), from €59,966 to €80,612
- Debts after one year -€22,761
down €22,761 (-24.1%), from €94,480 to €71,718
- Profit (loss) carried forward +€11,387
up €11,387 (+14.2%), from €80,232 to €91,619
- Other operating charges +€2,974
up €2,974 (+768%), from €387 to €3,361
- Taxes +€2,522
up €2,522 (+150%), from €1,678 to €4,200
- Financial charges -€2,244
down €2,244 (-62.0%), from €3,618 to €1,375
- Depreciation -€1,217
down €1,217 (-4.7%), from €25,697 to €24,480
- Staff costs -€709
no longer reported in 2025 (was €709)
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 | €469,476 | €462,367 | -€7,109 | -1.5% |
| Fixed assets | 21/28 | €387,618 | €362,919 | -€24,699 | -6.4% |
| Tangible fixed assets | 22/27 | €387,399 | €362,919 | -€24,480 | -6.3% |
| Land and buildings | 22 | €354,488 | €354,488 | = | 0.0% |
| Other tangible fixed assets | 26 | €32,912 | €8,431 | -€24,480 | -74.4% |
| Financial fixed assets | 28 | €218 | - | -€218 | |
| Current assets | 29/58 | €81,859 | €99,448 | +€17,589 | +21.5% |
| Amounts receivable within one year | 40/41 | €5,336 | €4,840 | -€496 | -9.3% |
| Trade receivables | 40 | €5,336 | €4,840 | -€496 | -9.3% |
| Cash at bank and in hand | 54/58 | €16,557 | €13,996 | -€2,560 | -15.5% |
| Deferred charges and accrued income | 490/1 | €59,966 | €80,612 | +€20,646 | +34.4% |
| Total equity and liabilities | 10/49 | €469,476 | €462,367 | -€7,109 | -1.5% |
| Equity | 10/15 | €373,291 | €384,677 | +€11,387 | +3.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | €228,062 | €228,062 | = | 0.0% |
| Reserves | 13 | €3,023 | €3,023 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,023 | €3,023 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,023 | €3,023 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,232 | €91,619 | +€11,387 | +14.2% |
| Amounts payable | 17/49 | €96,186 | €77,690 | -€18,496 | -19.2% |
| Amounts payable after more than one year | 17 | €94,480 | €71,718 | -€22,761 | -24.1% |
| Financial debts | 170/4 | €94,480 | €71,718 | -€22,761 | -24.1% |
| Amounts payable within one year | 42/48 | €1,706 | €5,877 | +€4,171 | +244% |
| Trade debts | 44 | €29 | - | -€29 | |
| Suppliers | 440/4 | €29 | - | -€29 | |
| Taxes, remuneration and social security | 45 | €1,678 | €5,877 | +€4,200 | +250% |
| Taxes | 450/3 | - | €5,877 | +€5,877 | |
| Remuneration and social security | 454/9 | €1,678 | - | -€1,678 | |
| Accrued charges and deferred income | 492/3 | - | €94 | +€94 | |
| Remuneration, social security and pensions | 62 | €709 | - | -€709 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,697 | €24,480 | -€1,217 | -4.7% |
| Other operating charges | 640/8 | €387 | €3,361 | +€2,974 | +768% |
| Gross operating margin | 9900 | €44,340 | €44,803 | +€463 | +1.0% |
| Operating profit (loss) | 9901 | €17,547 | €16,961 | -€586 | -3.3% |
| Financial charges | 65/66B | €3,618 | €1,375 | -€2,244 | -62.0% |
| Recurring financial charges | 65 | €3,618 | €1,375 | -€2,244 | -62.0% |
| Profit (loss) for the period before taxes | 9903 | €13,928 | €15,586 | +€1,658 | +11.9% |
| Income taxes | 67/77 | €1,678 | €4,200 | +€2,522 | +150% |
| Profit (loss) for the period | 9904 | €12,250 | €11,387 | -€864 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,250 | €11,387 | -€864 | -7.1% |
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 15 October 2026 via checked.be.