RH 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.
RH Immo
Largest movements
- Tangible fixed assets +€2.2m
up €2.2m (+116.7%), from €1.8m to €4.0m
of which Assets under construction and advance payments: +€2.0m
- Cash +€842,171
up €842,171 (+1256.6%), from €67,022 to €909,194
mainly Debts after one year (+€2.8m) and Current portion of long-term debt (+€161,574)
- Debts after one year +€2.8m
up €2.8m (+384.5%), from €718,000 to €3.5m
- Current portion of long-term debt +€161,574
new in 2025: €161,574
- Profit (loss) carried forward +€85,718
up €85,718 (+64.1%), from €133,726 to €219,444
- Gross operating margin +€101,883
up €101,883 (+209.9%), from €48,528 to €150,411
- Taxes +€29,526
up €29,526 (+144027.6%), from €21 to €29,546
- Financial charges +€20,358
up €20,358 (+2547.1%), from €799 to €21,157
- Other operating charges -€6,958
down €6,958 (-51.2%), from €13,594 to €6,637
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 | €2,083,295 | €5,020,154 | +€2.9m | +141.0% |
| Fixed assets | 21/28 | €1,843,125 | €3,993,917 | +€2.2m | +116.7% |
| Tangible fixed assets | 22/27 | €1,843,125 | €3,993,917 | +€2.2m | +116.7% |
| Land and buildings | 22 | €1,586,512 | €1,707,027 | +€120,515 | +7.6% |
| Plant, machinery and equipment | 23 | €893 | - | -€893 | |
| Assets under construction and advance payments | 27 | €255,720 | €2,286,890 | +€2.0m | +794.3% |
| Current assets | 29/58 | €240,169 | €1,026,237 | +€786,068 | +327.3% |
| Amounts receivable within one year | 40/41 | €165,959 | €116,092 | -€49,867 | -30.0% |
| Trade receivables | 40 | €1,632 | €70,008 | +€68,376 | +4189.5% |
| Other amounts receivable | 41 | €164,327 | €46,084 | -€118,243 | -72.0% |
| Cash at bank and in hand | 54/58 | €67,022 | €909,194 | +€842,171 | +1256.6% |
| Deferred charges and accrued income | 490/1 | €7,188 | €951 | -€6,236 | -86.8% |
| Total equity and liabilities | 10/49 | €2,083,295 | €5,020,154 | +€2.9m | +141.0% |
| Equity | 10/15 | €985,537 | €1,051,017 | +€65,480 | +6.6% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €832,811 | €812,573 | -€20,238 | -2.4% |
| Tax-exempt reserves | 132 | €780,192 | €759,954 | -€20,238 | -2.6% |
| Distributable reserves | 133 | €52,618 | €52,618 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,726 | €219,444 | +€85,718 | +64.1% |
| Provisions and deferred taxes | 16 | €259,883 | €253,138 | -€6,746 | -2.6% |
| Deferred taxes | 168 | €259,883 | €253,138 | -€6,746 | -2.6% |
| Amounts payable | 17/49 | €837,874 | €3,716,000 | +€2.9m | +343.5% |
| Amounts payable after more than one year | 17 | €718,000 | €3,478,409 | +€2.8m | +384.5% |
| Financial debts | 170/4 | €718,000 | €3,478,409 | +€2.8m | +384.5% |
| Amounts payable within one year | 42/48 | €119,874 | €237,592 | +€117,717 | +98.2% |
| Current portion of amounts payable after more than one year | 42 | - | €161,574 | +€161,574 | |
| Trade debts | 44 | €50,903 | €3,618 | -€47,284 | -92.9% |
| Suppliers | 440/4 | €50,903 | €3,618 | -€47,284 | -92.9% |
| Taxes, remuneration and social security | 45 | €93 | €3,571 | +€3,478 | +3741.4% |
| Taxes | 450/3 | €93 | €3,571 | +€3,478 | +3741.4% |
| Other amounts payable | 47/48 | €68,879 | €68,829 | -€50 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,806 | €34,337 | -€1,469 | -4.1% |
| Other operating charges | 640/8 | €13,594 | €6,637 | -€6,958 | -51.2% |
| Gross operating margin | 9900 | €48,528 | €150,411 | +€101,883 | +209.9% |
| Operating profit (loss) | 9901 | -€873 | €109,437 | +€110,310 | |
| Financial charges | 65/66B | €799 | €21,157 | +€20,358 | +2547.1% |
| Recurring financial charges | 65 | €799 | €21,157 | +€20,358 | +2547.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,672 | €88,280 | +€89,952 | |
| Transfer from deferred taxes | 780 | €6,175 | €6,746 | +€571 | +9.3% |
| Income taxes | 67/77 | €21 | €29,546 | +€29,526 | +144027.6% |
| Profit (loss) for the period | 9904 | €4,482 | €65,480 | +€60,998 | +1360.9% |
| Transfer from tax-exempt reserves | 789 | €18,524 | €20,238 | +€1,714 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,006 | €85,718 | +€62,712 | +272.6% |
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 29 September 2026 via checked.be.