R - IMMO: what changed
Two fiscal 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 - IMMO
Largest movements
- Receivables within one year -€85,717
down €85,717 (-38.5%), from €222,718 to €137,001
of which Trade receivables: -€68,794
- Cash -€13,991
down €13,991 (-21.3%), from €65,681 to €51,690
mainly Other debts (-€49,192) and Net result for the year (-€38,024)
- Tangible fixed assets +€9,245
up €9,245 (+72.6%), from €12,737 to €21,982
- Other debts -€49,192
down €49,192 (-94.8%), from €51,890 to €2,699
- Reserves -€38,024
down €38,024 (-10.1%), from €376,665 to €338,641
- Gross operating margin -€248,212
down €248,212, from €225,715 to -€22,497
- Taxes -€71,474
down €71,474 (-99.2%), from €72,033 to €559
- Depreciation +€5,622
up €5,622 (+56.2%), from €10,010 to €15,633
- Financial income -€5,310
down €5,310 (-68.3%), from €7,773 to €2,463
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 | €452,174 | €361,066 | -€91,108 | -20.1% |
| Fixed assets | 21/28 | €12,737 | €21,982 | +€9,245 | +72.6% |
| Tangible fixed assets | 22/27 | €12,737 | €21,982 | +€9,245 | +72.6% |
| Furniture and vehicles | 24 | €12,737 | €21,982 | +€9,245 | +72.6% |
| Current assets | 29/58 | €439,436 | €339,084 | -€100,353 | -22.8% |
| Amounts receivable within one year | 40/41 | €222,718 | €137,001 | -€85,717 | -38.5% |
| Trade receivables | 40 | €204,794 | €136,000 | -€68,794 | -33.6% |
| Other amounts receivable | 41 | €17,924 | €1,001 | -€16,923 | -94.4% |
| Current investments | 50/53 | €150,000 | €150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €65,681 | €51,690 | -€13,991 | -21.3% |
| Deferred charges and accrued income | 490/1 | €1,037 | €392 | -€645 | -62.2% |
| Total equity and liabilities | 10/49 | €452,174 | €361,066 | -€91,108 | -20.1% |
| Equity | 10/15 | €395,265 | €357,241 | -€38,024 | -9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €376,665 | €338,641 | -€38,024 | -10.1% |
| Distributable reserves | 133 | €376,665 | €338,641 | -€38,024 | -10.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €56,908 | €3,825 | -€53,084 | -93.3% |
| Amounts payable within one year | 42/48 | €56,908 | €3,825 | -€53,084 | -93.3% |
| Financial debts | 43 | €798 | €704 | -€94 | -11.8% |
| Credit institutions | 430/8 | - | €704 | +€704 | |
| Other loans | 439 | €798 | €0 | -€798 | -100.0% |
| Trade debts | 44 | €1,489 | €369 | -€1,119 | -75.2% |
| Suppliers | 440/4 | €1,489 | €369 | -€1,119 | -75.2% |
| Taxes, remuneration and social security | 45 | €2,731 | €53 | -€2,678 | -98.1% |
| Taxes | 450/3 | €2,731 | €53 | -€2,678 | -98.1% |
| Other amounts payable | 47/48 | €51,890 | €2,699 | -€49,192 | -94.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,010 | €15,633 | +€5,622 | +56.2% |
| Other operating charges | 640/8 | €1,090 | €1,025 | -€65 | -6.0% |
| Gross operating margin | 9900 | €225,715 | -€22,497 | -€248,212 | |
| Operating profit (loss) | 9901 | €214,614 | -€39,155 | -€253,769 | |
| Financial income | 75/76B | €7,773 | €2,463 | -€5,310 | -68.3% |
| Recurring financial income | 75 | €7,773 | €2,463 | -€5,310 | -68.3% |
| Financial charges | 65/66B | €1,554 | €773 | -€781 | -50.3% |
| Recurring financial charges | 65 | €1,554 | €773 | -€781 | -50.3% |
| Profit (loss) for the period before taxes | 9903 | €220,834 | -€37,465 | -€258,298 | |
| Income taxes | 67/77 | €72,033 | €559 | -€71,474 | -99.2% |
| Profit (loss) for the period | 9904 | €148,800 | -€38,024 | -€186,824 | |
| Profit (loss) for the period to be appropriated | 9905 | €148,800 | -€38,024 | -€186,824 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.