S.I.E. 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.
S.I.E. IMMO
Largest movements
- Receivables within one year -€48,400
down €48,400 (-50.0%), from €96,800 to €48,400
- Cash +€43,486
up €43,486 (+35.8%), from €121,603 to €165,088
- Tangible fixed assets -€35,798
down €35,798 (-9.9%), from €362,466 to €326,669
- Debts after one year -€19,462
down €19,462 (-19.2%), from €101,605 to €82,142
- Provisions -€17,500
no longer reported in 2025 (was €17,500)
- Gross operating margin -€33,989
down €33,989 (-30.5%), from €111,346 to €77,358
- Staff costs -€11,748
down €11,748 (-30.5%), from €38,535 to €26,787
- Financial income +€9,750
up €9,750 (+3600.6%), from €271 to €10,021
of which Non-recurring financial income: +€9,742
- Taxes +€1,705
new in 2025: €1,705
- Financial charges +€1,602
up €1,602 (+101.5%), from €1,579 to €3,181
From the 2024 result to the 2025 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €580,869 | €540,157 | -€40,712 | -7.0% |
| Fixed assets | 21/28 | €362,466 | €326,669 | -€35,798 | -9.9% |
| Tangible fixed assets | 22/27 | €362,466 | €326,669 | -€35,798 | -9.9% |
| Land and buildings | 22 | €362,466 | €326,669 | -€35,798 | -9.9% |
| Current assets | 29/58 | €218,403 | €213,488 | -€4,914 | -2.3% |
| Amounts receivable within one year | 40/41 | €96,800 | €48,400 | -€48,400 | -50.0% |
| Trade receivables | 40 | €96,800 | €48,400 | -€48,400 | -50.0% |
| Cash at bank and in hand | 54/58 | €121,603 | €165,088 | +€43,486 | +35.8% |
| Total equity and liabilities | 10/49 | €580,869 | €540,157 | -€40,712 | -7.0% |
| Equity | 10/15 | €429,758 | €429,758 | = | 0.0% |
| Contributions | 10/11 | €77,740 | €77,740 | = | 0.0% |
| Capital | 10 | €77,740 | €77,740 | = | 0.0% |
| Issued capital | 100 | €77,740 | €77,740 | = | 0.0% |
| Reserves | 13 | €82,774 | €82,774 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,774 | €7,774 | = | 0.0% |
| Legal reserve | 130 | €7,774 | €7,774 | = | 0.0% |
| Distributable reserves | 133 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €269,244 | €269,244 | = | 0.0% |
| Provisions and deferred taxes | 16 | €17,500 | - | -€17,500 | |
| Provisions for liabilities and charges | 160/5 | €17,500 | - | -€17,500 | |
| Pensions and similar obligations | 160 | €17,500 | - | -€17,500 | |
| Amounts payable | 17/49 | €133,611 | €110,399 | -€23,212 | -17.4% |
| Amounts payable after more than one year | 17 | €101,605 | €82,142 | -€19,462 | -19.2% |
| Financial debts | 170/4 | €101,605 | €82,142 | -€19,462 | -19.2% |
| Amounts payable within one year | 42/48 | €32,007 | €28,257 | -€3,750 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €20,741 | €20,266 | -€475 | -2.3% |
| Trade debts | 44 | €76 | €92 | +€16 | +21.5% |
| Suppliers | 440/4 | €76 | €92 | +€16 | +21.5% |
| Taxes, remuneration and social security | 45 | €1,603 | €3,996 | +€2,393 | +149.3% |
| Taxes | 450/3 | - | €1,705 | +€1,705 | |
| Remuneration and social security | 454/9 | €1,603 | €2,292 | +€689 | +43.0% |
| Other amounts payable | 47/48 | €9,587 | €3,902 | -€5,684 | -59.3% |
| Remuneration, social security and pensions | 62 | €38,535 | €26,787 | -€11,748 | -30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,618 | €35,798 | -€820 | -2.2% |
| Other operating charges | 640/8 | €19,681 | €19,908 | +€228 | +1.2% |
| Gross operating margin | 9900 | €111,346 | €77,358 | -€33,989 | -30.5% |
| Operating profit (loss) | 9901 | €16,513 | -€5,135 | -€21,648 | |
| Financial income | 75/76B | €271 | €10,021 | +€9,750 | +3600.6% |
| Recurring financial income | 75 | €271 | €279 | +€8 | +2.9% |
| Non-recurring financial income | 76B | - | €9,742 | +€9,742 | |
| Financial charges | 65/66B | €1,579 | €3,181 | +€1,602 | +101.5% |
| Recurring financial charges | 65 | €1,579 | €3,181 | +€1,602 | +101.5% |
| Profit (loss) for the period before taxes | 9903 | €15,205 | €1,705 | -€13,500 | -88.8% |
| Income taxes | 67/77 | - | €1,705 | +€1,705 | |
| Profit (loss) for the period | 9904 | €15,205 | - | -€15,205 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,205 | - | -€15,205 |
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 6 October 2026 via checked.be.