R & A 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.
R & A IMMO
Largest movements
- Tangible fixed assets -€62,680
down €62,680 (-4.8%), from €1.3m to €1.2m
of which Land and buildings: -€67,612
- Other debts -€33,555
down €33,555 (-30.4%), from €110,535 to €76,980
- Debts after one year -€15,461
down €15,461 (-2.3%), from €672,458 to €656,997
of which Financial debts: -€15,461
- Gross operating margin -€30,925
down €30,925 (-23.8%), from €129,754 to €98,830
- Taxes -€4,436
no longer reported in 2025 (was €4,436)
- Write-downs +€3,375
new in 2025: €3,375
- Other operating charges +€1,661
up €1,661 (+15.9%), from €10,443 to €12,104
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 | €1,304,530 | €1,246,260 | -€58,270 | -4.5% |
| Fixed assets | 21/28 | €1,300,641 | €1,237,962 | -€62,680 | -4.8% |
| Tangible fixed assets | 22/27 | €1,300,641 | €1,237,962 | -€62,680 | -4.8% |
| Land and buildings | 22 | €1,300,641 | €1,233,029 | -€67,612 | -5.2% |
| Plant, machinery and equipment | 23 | - | €4,933 | +€4,933 | |
| Current assets | 29/58 | €3,888 | €8,298 | +€4,410 | +113% |
| Amounts receivable within one year | 40/41 | €64 | €2,568 | +€2,503 | +3,887% |
| Trade receivables | 40 | - | €830 | +€830 | |
| Other amounts receivable | 41 | €64 | €1,738 | +€1,673 | +2,599% |
| Cash at bank and in hand | 54/58 | €3,824 | €5,731 | +€1,907 | +49.9% |
| Total equity and liabilities | 10/49 | €1,304,530 | €1,246,260 | -€58,270 | -4.5% |
| Equity | 10/15 | €493,894 | €485,497 | -€8,396 | -1.7% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €93,894 | €85,497 | -€8,396 | -8.9% |
| Distributable reserves | 133 | €93,894 | €85,497 | -€8,396 | -8.9% |
| Amounts payable | 17/49 | €810,636 | €760,762 | -€49,874 | -6.2% |
| Amounts payable after more than one year | 17 | €672,458 | €656,997 | -€15,461 | -2.3% |
| Financial debts | 170/4 | €72,458 | €56,997 | -€15,461 | -21.3% |
| Other amounts payable | 178/9 | €600,000 | €600,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €133,063 | €99,668 | -€33,394 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €15,109 | €15,461 | +€351 | +2.3% |
| Trade debts | 44 | €885 | €613 | -€273 | -30.8% |
| Suppliers | 440/4 | €885 | €613 | -€273 | -30.8% |
| Taxes, remuneration and social security | 45 | €6,533 | €6,615 | +€82 | +1.3% |
| Taxes | 450/3 | €6,533 | €6,615 | +€82 | +1.3% |
| Other amounts payable | 47/48 | €110,535 | €76,980 | -€33,555 | -30.4% |
| Accrued charges and deferred income | 492/3 | €5,115 | €4,097 | -€1,019 | -19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,762 | €67,630 | +€868 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,375 | +€3,375 | |
| Other operating charges | 640/8 | €10,443 | €12,104 | +€1,661 | +15.9% |
| Gross operating margin | 9900 | €129,754 | €98,830 | -€30,925 | -23.8% |
| Operating profit (loss) | 9901 | €52,550 | €15,721 | -€36,829 | -70.1% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €23,858 | €24,117 | +€260 | +1.1% |
| Recurring financial charges | 65 | €23,858 | €24,117 | +€260 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €28,693 | -€8,396 | -€37,089 | |
| Income taxes | 67/77 | €4,436 | - | -€4,436 | |
| Profit (loss) for the period | 9904 | €24,257 | -€8,396 | -€32,654 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,257 | -€8,396 | -€32,654 |
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 21 October 2026 via checked.be.