SPC 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.
SPC IMMO
Largest movements
- Tangible fixed assets -€17,280
down €17,280 (-1.8%), from €956,093 to €938,813
of which Land and buildings: -€30,083
- Debts after one year -€66,000
down €66,000 (-11.0%), from €599,500 to €533,500
- Profit (loss) carried forward +€41,086
up €41,086 (+44.7%), from €91,884 to €132,971
- Gross operating margin +€10,043
up €10,043 (+10.0%), from €100,924 to €110,967
- Taxes +€3,666
up €3,666 (+31.7%), from €11,579 to €15,245
- Depreciation -€3,343
down €3,343 (-8.5%), from €39,482 to €36,139
- Financial charges -€1,203
down €1,203 (-9.9%), from €12,154 to €10,951
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,024,423 | €1,003,659 | -€20,765 | -2.0% |
| Fixed assets | 21/28 | €956,093 | €938,813 | -€17,280 | -1.8% |
| Tangible fixed assets | 22/27 | €956,093 | €938,813 | -€17,280 | -1.8% |
| Land and buildings | 22 | €914,868 | €884,785 | -€30,083 | -3.3% |
| Plant, machinery and equipment | 23 | €41,225 | €54,028 | +€12,804 | +31.1% |
| Current assets | 29/58 | €68,331 | €64,846 | -€3,485 | -5.1% |
| Amounts receivable within one year | 40/41 | €4,545 | €1,400 | -€3,145 | -69.2% |
| Trade receivables | 40 | - | €1,400 | +€1,400 | |
| Other amounts receivable | 41 | €4,545 | €0 | -€4,545 | -100.0% |
| Cash at bank and in hand | 54/58 | €62,322 | €62,912 | +€590 | +0.9% |
| Deferred charges and accrued income | 490/1 | €1,463 | €533 | -€929 | -63.5% |
| Total equity and liabilities | 10/49 | €1,024,423 | €1,003,659 | -€20,765 | -2.0% |
| Equity | 10/15 | €189,124 | €230,211 | +€41,086 | +21.7% |
| Contributions | 10/11 | €88,400 | €88,400 | = | 0.0% |
| Reserves | 13 | €8,840 | €8,840 | = | 0.0% |
| Distributable reserves | 133 | €8,840 | €8,840 | = | 0.0% |
| Profit (loss) carried forward | 14 | €91,884 | €132,971 | +€41,086 | +44.7% |
| Amounts payable | 17/49 | €835,299 | €773,448 | -€61,851 | -7.4% |
| Amounts payable after more than one year | 17 | €599,500 | €533,500 | -€66,000 | -11.0% |
| Financial debts | 170/4 | €599,500 | €533,500 | -€66,000 | -11.0% |
| Amounts payable within one year | 42/48 | €235,799 | €239,948 | +€4,149 | +1.8% |
| Financial debts | 43 | €66,000 | €66,000 | = | 0.0% |
| Credit institutions | 430/8 | €66,000 | €66,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €11,580 | €15,245 | +€3,665 | +31.7% |
| Taxes | 450/3 | €11,580 | €15,245 | +€3,665 | +31.7% |
| Other amounts payable | 47/48 | €158,219 | €158,703 | +€484 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,482 | €36,139 | -€3,343 | -8.5% |
| Other operating charges | 640/8 | €7,557 | €7,546 | -€11 | -0.1% |
| Gross operating margin | 9900 | €100,924 | €110,967 | +€10,043 | +10.0% |
| Operating profit (loss) | 9901 | €53,886 | €67,282 | +€13,396 | +24.9% |
| Financial charges | 65/66B | €12,154 | €10,951 | -€1,203 | -9.9% |
| Recurring financial charges | 65 | €12,154 | €10,951 | -€1,203 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €41,732 | €56,331 | +€14,599 | +35.0% |
| Income taxes | 67/77 | €11,579 | €15,245 | +€3,666 | +31.7% |
| Profit (loss) for the period | 9904 | €30,153 | €41,086 | +€10,933 | +36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,153 | €41,086 | +€10,933 | +36.3% |
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.