AC 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.
AC IMMO
Largest movements
- Tangible fixed assets +€934,744
up €934,744 (+173%), from €539,332 to €1.5m
- Receivables within one year +€46,748
up €46,748 (+11.6%), from €402,193 to €448,941
of which Other amounts receivable: +€35,000
- Other debts +€1.0m
up €1.0m (+1,039%), from €100,299 to €1.1m
- Debts after one year -€82,334
down €82,334 (-16.0%), from €513,708 to €431,374
- Reserves +€29,285
up €29,285 (+12.5%), from €233,933 to €263,218
of which Distributable reserves: +€56,746
No income-statement line moved by more than 1% of the activity.
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 | €1,005,656 | €1,990,812 | +€985,157 | +98.0% |
| Fixed assets | 21/28 | €539,332 | €1,474,076 | +€934,744 | +173% |
| Tangible fixed assets | 22/27 | €539,332 | €1,474,076 | +€934,744 | +173% |
| Land and buildings | 22 | €539,332 | €1,474,076 | +€934,744 | +173% |
| Current assets | 29/58 | €466,323 | €516,736 | +€50,413 | +10.8% |
| Amounts receivable within one year | 40/41 | €402,193 | €448,941 | +€46,748 | +11.6% |
| Trade receivables | 40 | €0 | €11,748 | +€11,748 | |
| Other amounts receivable | 41 | €402,193 | €437,193 | +€35,000 | +8.7% |
| Cash at bank and in hand | 54/58 | €64,130 | €67,172 | +€3,041 | +4.7% |
| Deferred charges and accrued income | 490/1 | - | €623 | +€623 | |
| Total equity and liabilities | 10/49 | €1,005,656 | €1,990,812 | +€985,157 | +98.0% |
| Equity | 10/15 | €258,933 | €288,218 | +€29,285 | +11.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €233,933 | €263,218 | +€29,285 | +12.5% |
| Tax-exempt reserves | 132 | €144,806 | €117,345 | -€27,461 | -19.0% |
| Distributable reserves | 133 | €89,127 | €145,873 | +€56,746 | +63.7% |
| Provisions and deferred taxes | 16 | €45,769 | €36,615 | -€9,154 | -20.0% |
| Deferred taxes | 168 | €45,769 | €36,615 | -€9,154 | -20.0% |
| Amounts payable | 17/49 | €700,954 | €1,665,980 | +€965,026 | +138% |
| Amounts payable after more than one year | 17 | €513,708 | €431,374 | -€82,334 | -16.0% |
| Financial debts | 170/4 | €513,708 | €431,374 | -€82,334 | -16.0% |
| Amounts payable within one year | 42/48 | €187,246 | €1,234,606 | +€1.0m | +559% |
| Current portion of amounts payable after more than one year | 42 | €81,068 | €82,334 | +€1,267 | +1.6% |
| Trade debts | 44 | €514 | €4,491 | +€3,977 | +774% |
| Suppliers | 440/4 | €514 | €4,491 | +€3,977 | +774% |
| Taxes, remuneration and social security | 45 | €5,365 | €4,882 | -€483 | -9.0% |
| Taxes | 450/3 | €5,365 | €4,882 | -€483 | -9.0% |
| Other amounts payable | 47/48 | €100,299 | €1,142,899 | +€1.0m | +1,039% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,866 | €107,866 | = | 0.0% |
| Other operating charges | 640/8 | €12,595 | €13,151 | +€557 | +4.4% |
| Gross operating margin | 9900 | €174,209 | €174,397 | +€188 | +0.1% |
| Operating profit (loss) | 9901 | €53,749 | €53,380 | -€369 | -0.7% |
| Financial charges | 65/66B | €15,295 | €14,333 | -€962 | -6.3% |
| Recurring financial charges | 65 | €15,295 | €14,333 | -€962 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €38,454 | €39,047 | +€593 | +1.5% |
| Transfer from deferred taxes | 780 | €9,154 | €9,154 | = | 0.0% |
| Income taxes | 67/77 | €18,767 | €18,915 | +€148 | +0.8% |
| Profit (loss) for the period | 9904 | €28,840 | €29,285 | +€444 | +1.5% |
| Transfer from tax-exempt reserves | 789 | €27,461 | €27,461 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €56,302 | €56,746 | +€444 | +0.8% |
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 26 October 2026 via checked.be.