IMMOCEL: what changed
What changed
IMMOCEL
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€47,857
2023 · €9,597+€38,261
Equity
€187,130
2023 · €139,273+€47,857
Cash
€27,659
2023 · €6,114+€21,545
Balance sheet total
€4.1m
2023 · €4.3m-€272,293
Largest movements
Assets
- Tangible fixed assets -€167,110
down €167,110 (-4.1%), from €4.1m to €3.9m
of which Land and buildings: -€164,250
- Deferred charges and accrued income -€142,209
down €142,209 (-88.2%), from €161,175 to €18,966
Equity and liabilities
- Debts after one year -€304,336
down €304,336 (-12.2%), from €2.5m to €2.2m
of which Financial debts: -€304,336
- Provisions -€87,758
down €87,758 (-76.3%), from €115,000 to €27,242
- Profit (loss) carried forward +€47,857
up €47,857 (+11.3%), from -€423,022 to -€375,165
- Other debts +€45,815
up €45,815 (+4.0%), from €1.1m to €1.2m
Income statement
- Gross operating margin -€212,796
down €212,796 (-41.7%), from €510,569 to €297,773
- Provisions -€202,758
down €202,758, from €115,000 to -€87,758
- Other operating charges -€23,596
down €23,596 (-35.9%), from €65,685 to €42,088
- Staff costs -€16,228
down €16,228 (-41.7%), from €38,922 to €22,695
- Write-downs -€6,410
down €6,410 (-77.4%), from €8,282 to €1,872
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2023
€9,597
Gross operating margin
-€212,796
Staff costs
+€16,228
Depreciation
-€413
Write-downs
+€6,410
Provisions
+€202,758
Other operating charges
+€23,596
Financial income
-€1,062
Financial charges
+€3,453
Taxes
+€86
Result 2024
€47,857
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€359,811
Investment
-€39,932
Financing
-€298,334
Cash 2023
€6,114
From operations (derived)
+€359,811
Net result for the year
+€47,857
Depreciation
+€207,043
Receivables within one year
-€15,482
Deferred charges and accrued income
+€142,209
Provisions
-€87,758
Trade debts
+€22,444
Tax, wage and social debts
-€2,751
Other debts
+€45,815
Accrued charges and deferred income
+€434
Investment (derived)
-€39,932
Investment in fixed assets (net)
-€39,932
Financing
-€298,334
Debts after one year
-€304,336
Current portion of long-term debt
+€6,002
Cash 2024
€27,659
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,330,027 | €4,057,734 | -€272,293 | -6.3% |
| Fixed assets | 21/28 | €4,069,611 | €3,902,501 | -€167,110 | -4.1% |
| Tangible fixed assets | 22/27 | €4,069,611 | €3,902,501 | -€167,110 | -4.1% |
| Land and buildings | 22 | €4,060,855 | €3,896,605 | -€164,250 | -4.0% |
| Plant, machinery and equipment | 23 | - | €3,043 | +€3,043 | |
| Furniture and vehicles | 24 | €8,757 | €2,853 | -€5,904 | -67.4% |
| Current assets | 29/58 | €260,415 | €155,233 | -€105,182 | -40.4% |
| Amounts receivable within one year | 40/41 | €93,126 | €108,608 | +€15,482 | +16.6% |
| Trade receivables | 40 | €93,126 | €108,608 | +€15,482 | +16.6% |
| Cash at bank and in hand | 54/58 | €6,114 | €27,659 | +€21,545 | +352% |
| Deferred charges and accrued income | 490/1 | €161,175 | €18,966 | -€142,209 | -88.2% |
| Total equity and liabilities | 10/49 | €4,330,027 | €4,057,734 | -€272,293 | -6.3% |
| Equity | 10/15 | €139,273 | €187,130 | +€47,857 | +34.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €417,500 | €417,500 | = | 0.0% |
| Reserves | 13 | €82,795 | €82,795 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €76,595 | €76,595 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€423,022 | -€375,165 | +€47,857 | +11.3% |
| Provisions and deferred taxes | 16 | €115,000 | €27,242 | -€87,758 | -76.3% |
| Provisions for liabilities and charges | 160/5 | €115,000 | €27,242 | -€87,758 | -76.3% |
| Major repairs and maintenance | 162 | €115,000 | €27,242 | -€87,758 | -76.3% |
| Amounts payable | 17/49 | €4,075,754 | €3,843,362 | -€232,392 | -5.7% |
| Amounts payable after more than one year | 17 | €2,501,088 | €2,196,752 | -€304,336 | -12.2% |
| Financial debts | 170/4 | €2,496,088 | €2,191,752 | -€304,336 | -12.2% |
| Other amounts payable | 178/9 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,558,890 | €1,630,401 | +€71,510 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €298,334 | €304,336 | +€6,002 | +2.0% |
| Trade debts | 44 | €101,166 | €123,610 | +€22,444 | +22.2% |
| Suppliers | 440/4 | €101,166 | €123,610 | +€22,444 | +22.2% |
| Taxes, remuneration and social security | 45 | €24,799 | €22,048 | -€2,751 | -11.1% |
| Taxes | 450/3 | €19,752 | €22,048 | +€2,296 | +11.6% |
| Remuneration and social security | 454/9 | €5,047 | €0 | -€5,047 | -100% |
| Other amounts payable | 47/48 | €1,134,592 | €1,180,406 | +€45,815 | +4.0% |
| Accrued charges and deferred income | 492/3 | €15,775 | €16,209 | +€434 | +2.8% |
| Non-recurring operating income | 76A | €500 | €0 | -€500 | -100% |
| Remuneration, social security and pensions | 62 | €38,922 | €22,695 | -€16,228 | -41.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €206,630 | €207,043 | +€413 | +0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,282 | €1,872 | -€6,410 | -77.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €115,000 | -€87,758 | -€202,758 | |
| Other operating charges | 640/8 | €65,685 | €42,088 | -€23,596 | -35.9% |
| Gross operating margin | 9900 | €510,569 | €297,773 | -€212,796 | -41.7% |
| Operating profit (loss) | 9901 | €76,050 | €111,833 | +€35,784 | +47.1% |
| Financial income | 75/76B | €1,406 | €344 | -€1,062 | -75.5% |
| Recurring financial income | 75 | €1,406 | €344 | -€1,062 | -75.5% |
| Financial charges | 65/66B | €67,695 | €64,241 | -€3,453 | -5.1% |
| Recurring financial charges | 65 | €67,695 | €64,241 | -€3,453 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €9,761 | €47,936 | +€38,175 | +391% |
| Income taxes | 67/77 | €164 | €79 | -€86 | -52.2% |
| Profit (loss) for the period | 9904 | €9,597 | €47,857 | +€38,261 | +399% |
| Profit (loss) for the period to be appropriated | 9905 | €9,597 | €47,857 | +€38,261 | +399% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.