Securex 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.
Securex Immo
Largest movements
- Financial fixed assets +€13.9m
up €13.9m (+73.0%), from €19.1m to €33.0m
- Cash -€372,803
down €372,803 (-89.1%), from €418,477 to €45,674
mainly Investment in fixed assets (net) (-€13.9m) and Net result for the year (-€329,626)
- Other debts +€13.8m
up €13.8m (+6,241%), from €221,058 to €14.0m
- Financial income -€275,916
down €275,916 (-66.7%), from €413,588 to €137,672
of which Financial income: -€274,280
- Financial charges +€205,077
up €205,077 (+21,933%), from €935 to €206,012
- Gross operating margin -€97,096
down €97,096 (-32.1%), from €302,082 to €204,986
- Staff costs -€25,421
down €25,421 (-5.2%), from €486,565 to €461,144
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 | €19,719,441 | €33,268,556 | +€13.5m | +68.7% |
| Fixed assets | 21/28 | €19,123,921 | €33,059,546 | +€13.9m | +72.9% |
| Intangible fixed assets | 21 | €30,081 | €33,628 | +€3,547 | +11.8% |
| Tangible fixed assets | 22/27 | €6,814 | €6,814 | = | 0.0% |
| Land and buildings | 22 | €6,814 | €6,814 | = | 0.0% |
| Financial fixed assets | 28 | €19,087,026 | €33,019,104 | +€13.9m | +73.0% |
| Current assets | 29/58 | €595,520 | €209,010 | -€386,510 | -64.9% |
| Amounts receivable within one year | 40/41 | €177,043 | €39,136 | -€137,907 | -77.9% |
| Trade receivables | 40 | €161,062 | €38,360 | -€122,702 | -76.2% |
| Other amounts receivable | 41 | €15,981 | €776 | -€15,205 | -95.1% |
| Cash at bank and in hand | 54/58 | €418,477 | €45,674 | -€372,803 | -89.1% |
| Deferred charges and accrued income | 490/1 | - | €124,200 | +€124,200 | |
| Total equity and liabilities | 10/49 | €19,719,441 | €33,268,556 | +€13.5m | +68.7% |
| Equity | 10/15 | €19,379,601 | €19,049,975 | -€329,626 | -1.7% |
| Contributions | 10/11 | €19,306,026 | €19,306,026 | = | 0.0% |
| Reserves | 13 | €73,000 | €73,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €73,000 | €73,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €73,000 | €73,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €575 | -€329,051 | -€329,626 | |
| Amounts payable | 17/49 | €339,840 | €14,218,581 | +€13.9m | +4,084% |
| Amounts payable within one year | 42/48 | €339,840 | €14,089,395 | +€13.7m | +4,046% |
| Trade debts | 44 | €21,468 | €8,192 | -€13,276 | -61.8% |
| Suppliers | 440/4 | €21,468 | €8,192 | -€13,276 | -61.8% |
| Taxes, remuneration and social security | 45 | €97,314 | €63,378 | -€33,936 | -34.9% |
| Taxes | 450/3 | €353 | €15,151 | +€14,798 | +4,192% |
| Remuneration and social security | 454/9 | €96,961 | €48,227 | -€48,734 | -50.3% |
| Other amounts payable | 47/48 | €221,058 | €14,017,825 | +€13.8m | +6,241% |
| Accrued charges and deferred income | 492/3 | - | €129,186 | +€129,186 | |
| Remuneration, social security and pensions | 62 | €486,565 | €461,144 | -€25,421 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,522 | €3,805 | +€2,283 | +150% |
| Other operating charges | 640/8 | €1,189 | €998 | -€191 | -16.1% |
| Non-recurring operating charges | 66A | €672 | - | -€672 | |
| Gross operating margin | 9900 | €302,082 | €204,986 | -€97,096 | -32.1% |
| Operating profit (loss) | 9901 | -€187,866 | -€260,961 | -€73,095 | -38.9% |
| Financial income | 75/76B | €413,588 | €137,672 | -€275,916 | -66.7% |
| Recurring financial income | 75 | €411,952 | €137,672 | -€274,280 | -66.6% |
| Non-recurring financial income | 76B | €1,636 | - | -€1,636 | |
| Financial charges | 65/66B | €935 | €206,012 | +€205,077 | +21,933% |
| Recurring financial charges | 65 | €935 | €206,012 | +€205,077 | +21,933% |
| Profit (loss) for the period before taxes | 9903 | €224,787 | -€329,301 | -€554,088 | |
| Income taxes | 67/77 | €1,592 | €325 | -€1,267 | -79.6% |
| Profit (loss) for the period | 9904 | €223,195 | -€329,626 | -€552,821 | |
| Profit (loss) for the period to be appropriated | 9905 | €223,195 | -€329,626 | -€552,821 |
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 27 October 2026 via checked.be.