IMMOBEER: 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.
What changed
IMMOBEER
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€2,679
2024 · €8,362-€11,041
Equity
€988,792
2024 · €991,471-€2,679
Cash
€99,903
2024 · €118,029-€18,125
Balance sheet total
€2.5m
2024 · €2.7m-€145,884
Largest movements
Assets
- Tangible fixed assets -€132,247
down €132,247 (-5.2%), from €2.5m to €2.4m
of which Land and buildings: -€130,299
Equity and liabilities
- Trade debts -€342,078
down €342,078 (-99.4%), from €344,281 to €2,203
- Debts after one year +€200,092
up €200,092 (+19.1%), from €1.0m to €1.2m
of which Financial debts: +€179,822
Income statement
- Gross operating margin -€39,985
down €39,985 (-13.4%), from €298,766 to €258,781
- Taxes -€16,735
down €16,735, from €11,068 to -€5,667
- Financial charges -€7,029
down €7,029 (-15.6%), from €45,109 to €38,080
- Depreciation +€6,595
up €6,595 (+3.3%), from €200,950 to €207,545
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.
Result 2024
€8,362
Gross operating margin
-€39,985
Depreciation
-€6,595
Other operating charges
-€2,058
Other operating items
+€13,470
Financial income
+€74
Financial charges
+€7,029
Taxes
+€16,735
Deferred taxes and other
+€290
Result 2025
-€2,679
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€146,252
Investment
-€75,299
Financing
+€203,425
Cash 2024
€118,029
From operations (derived)
-€146,252
Net result for the year
-€2,679
Depreciation
+€207,545
Receivables within one year
-€9,598
Deferred charges and accrued income
+€5,110
Provisions
-€8,750
Trade debts
-€342,078
Smaller working-capital items
+€890
Accrued charges and deferred income
+€3,307
Investment (derived)
-€75,299
Investment in fixed assets (net)
-€75,299
Financing
+€203,425
Debts after one year
+€200,092
Current portion of long-term debt
+€3,333
Cash 2025
€99,903
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,662,260 | €2,516,376 | -€145,884 | -5.5% |
| Fixed assets | 21/28 | €2,525,910 | €2,393,664 | -€132,247 | -5.2% |
| Tangible fixed assets | 22/27 | €2,525,410 | €2,393,164 | -€132,247 | -5.2% |
| Land and buildings | 22 | €2,523,203 | €2,392,904 | -€130,299 | -5.2% |
| Plant, machinery and equipment | 23 | €2,208 | €260 | -€1,948 | -88.2% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €136,350 | €122,713 | -€13,637 | -10.0% |
| Amounts receivable within one year | 40/41 | €13,212 | €22,810 | +€9,598 | +72.6% |
| Trade receivables | 40 | €1,210 | €1,210 | = | 0.0% |
| Other amounts receivable | 41 | €12,002 | €21,600 | +€9,598 | +80.0% |
| Cash at bank and in hand | 54/58 | €118,029 | €99,903 | -€18,125 | -15.4% |
| Deferred charges and accrued income | 490/1 | €5,110 | - | -€5,110 | |
| Total equity and liabilities | 10/49 | €2,662,260 | €2,516,376 | -€145,884 | -5.5% |
| Equity | 10/15 | €991,471 | €988,792 | -€2,679 | -0.3% |
| Contributions | 10/11 | €271,850 | €271,850 | = | 0.0% |
| Reserves | 13 | €719,621 | €716,942 | -€2,679 | -0.4% |
| Non-distributable reserves | 130/1 | €27,185 | €27,185 | = | 0.0% |
| Reserves not available under the articles | 1311 | €27,185 | €27,185 | = | 0.0% |
| Tax-exempt reserves | 132 | €197,022 | €179,129 | -€17,893 | -9.1% |
| Distributable reserves | 133 | €495,414 | €510,629 | +€15,215 | +3.1% |
| Provisions and deferred taxes | 16 | €62,980 | €54,230 | -€8,750 | -13.9% |
| Deferred taxes | 168 | €62,980 | €54,230 | -€8,750 | -13.9% |
| Amounts payable | 17/49 | €1,607,809 | €1,473,353 | -€134,456 | -8.4% |
| Amounts payable after more than one year | 17 | €1,047,563 | €1,247,655 | +€200,092 | +19.1% |
| Financial debts | 170/4 | €560,403 | €740,225 | +€179,822 | +32.1% |
| Other amounts payable | 178/9 | €487,159 | €507,429 | +€20,270 | +4.2% |
| Amounts payable within one year | 42/48 | €514,882 | €177,027 | -€337,855 | -65.6% |
| Current portion of amounts payable after more than one year | 42 | €149,169 | €152,503 | +€3,333 | +2.2% |
| Trade debts | 44 | €344,281 | €2,203 | -€342,078 | -99.4% |
| Suppliers | 440/4 | €344,281 | €2,203 | -€342,078 | -99.4% |
| Taxes, remuneration and social security | 45 | €4,036 | €4,351 | +€315 | +7.8% |
| Taxes | 450/3 | €4,036 | €4,351 | +€315 | +7.8% |
| Other amounts payable | 47/48 | €17,395 | €17,970 | +€575 | +3.3% |
| Accrued charges and deferred income | 492/3 | €45,364 | €48,671 | +€3,307 | +7.3% |
| Non-recurring operating income | 76A | - | €209 | +€209 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €200,950 | €207,545 | +€6,595 | +3.3% |
| Other operating charges | 640/8 | €28,267 | €30,325 | +€2,058 | +7.3% |
| Non-recurring operating charges | 66A | €13,470 | - | -€13,470 | |
| Gross operating margin | 9900 | €298,766 | €258,781 | -€39,985 | -13.4% |
| Operating profit (loss) | 9901 | €56,079 | €20,911 | -€35,168 | -62.7% |
| Financial income | 75/76B | - | €74 | +€74 | |
| Recurring financial income | 75 | - | €74 | +€74 | |
| Financial charges | 65/66B | €45,109 | €38,080 | -€7,029 | -15.6% |
| Recurring financial charges | 65 | €45,109 | €38,080 | -€7,029 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €10,970 | -€17,096 | -€28,066 | |
| Transfer from deferred taxes | 780 | €8,459 | €8,750 | +€290 | +3.4% |
| Income taxes | 67/77 | €11,068 | -€5,667 | -€16,735 | |
| Profit (loss) for the period | 9904 | €8,362 | -€2,679 | -€11,041 | |
| Transfer from tax-exempt reserves | 789 | €17,296 | €17,893 | +€597 | +3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,658 | €15,215 | -€10,443 | -40.7% |
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 19 October 2026 via checked.be.