C. 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.
C. IMMO
Largest movements
- Deferred charges and accrued income -€26,016
down €26,016 (-86.7%), from €30,010 to €3,993
- Tangible fixed assets -€16,397
down €16,397 (-5.0%), from €330,215 to €313,818
of which Land and buildings: -€9,249
- Cash +€12,290
up €12,290 (+285.8%), from €4,300 to €16,590
mainly Net result for the year (+€27,005) and Deferred charges and accrued income (+€26,016)
- Other debts -€35,239
down €35,239 (-42.4%), from €83,162 to €47,923
- Debts after one year -€30,501
down €30,501 (-28.7%), from €106,108 to €75,607
- Reserves +€24,500
up €24,500 (+10.3%), from €237,000 to €261,500
- Tax, wage and social debts +€12,220
up €12,220 (+58.3%), from €20,969 to €33,189
of which Taxes: +€9,849
- Gross operating margin +€28,532
up €28,532 (+42.7%), from €66,834 to €95,366
- Taxes +€8,604
up €8,604 (+134.3%), from €6,404 to €15,008
- Other operating charges -€5,801
down €5,801 (-50.9%), from €11,386 to €5,585
- Staff costs +€4,295
up €4,295 (+23.2%), from €18,493 to €22,788
- Financial income -€2,630
down €2,630 (-99.7%), from €2,637 to €7
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.
Cash bridge derived
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 | €515,287 | €488,433 | -€26,854 | -5.2% |
| Fixed assets | 21/28 | €332,513 | €316,116 | -€16,397 | -4.9% |
| Tangible fixed assets | 22/27 | €330,215 | €313,818 | -€16,397 | -5.0% |
| Land and buildings | 22 | €299,279 | €290,031 | -€9,249 | -3.1% |
| Furniture and vehicles | 24 | €27,456 | €20,864 | -€6,592 | -24.0% |
| Other tangible fixed assets | 26 | €3,480 | €2,923 | -€557 | -16.0% |
| Financial fixed assets | 28 | €2,298 | €2,298 | = | 0.0% |
| Current assets | 29/58 | €182,774 | €172,317 | -€10,456 | -5.7% |
| Amounts receivable within one year | 40/41 | €148,464 | €151,734 | +€3,270 | +2.2% |
| Trade receivables | 40 | €136,259 | €150,755 | +€14,496 | +10.6% |
| Other amounts receivable | 41 | €12,205 | €979 | -€11,226 | -92.0% |
| Cash at bank and in hand | 54/58 | €4,300 | €16,590 | +€12,290 | +285.8% |
| Deferred charges and accrued income | 490/1 | €30,010 | €3,993 | -€26,016 | -86.7% |
| Total equity and liabilities | 10/49 | €515,287 | €488,433 | -€26,854 | -5.2% |
| Equity | 10/15 | €255,039 | €282,043 | +€27,005 | +10.6% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €237,000 | €261,500 | +€24,500 | +10.3% |
| Distributable reserves | 133 | €237,000 | €261,500 | +€24,500 | +10.3% |
| Profit (loss) carried forward | 14 | -€2,412 | €92 | +€2,505 | |
| Amounts payable | 17/49 | €260,248 | €206,390 | -€53,858 | -20.7% |
| Amounts payable after more than one year | 17 | €106,108 | €75,607 | -€30,501 | -28.7% |
| Financial debts | 170/4 | €106,108 | €75,607 | -€30,501 | -28.7% |
| Amounts payable within one year | 42/48 | €153,451 | €130,783 | -€22,667 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | €29,236 | €31,430 | +€2,194 | +7.5% |
| Financial debts | 43 | €4,567 | - | -€4,567 | |
| Credit institutions | 430/8 | €4,567 | - | -€4,567 | |
| Trade debts | 44 | €15,516 | €18,241 | +€2,725 | +17.6% |
| Suppliers | 440/4 | €15,516 | €18,241 | +€2,725 | +17.6% |
| Taxes, remuneration and social security | 45 | €20,969 | €33,189 | +€12,220 | +58.3% |
| Taxes | 450/3 | €19,191 | €29,040 | +€9,849 | +51.3% |
| Remuneration and social security | 454/9 | €1,778 | €4,148 | +€2,371 | +133.3% |
| Other amounts payable | 47/48 | €83,162 | €47,923 | -€35,239 | -42.4% |
| Accrued charges and deferred income | 492/3 | €690 | - | -€690 | |
| Remuneration, social security and pensions | 62 | €18,493 | €22,788 | +€4,295 | +23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,930 | €16,935 | +€5 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €596 | +€596 | |
| Other operating charges | 640/8 | €11,386 | €5,585 | -€5,801 | -50.9% |
| Gross operating margin | 9900 | €66,834 | €95,366 | +€28,532 | +42.7% |
| Operating profit (loss) | 9901 | €20,025 | €49,462 | +€29,436 | +147.0% |
| Financial income | 75/76B | €2,637 | €7 | -€2,630 | -99.7% |
| Recurring financial income | 75 | €2,637 | €7 | -€2,630 | -99.7% |
| Financial charges | 65/66B | €5,835 | €7,456 | +€1,621 | +27.8% |
| Recurring financial charges | 65 | €5,835 | €7,456 | +€1,621 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | €16,828 | €42,013 | +€25,185 | +149.7% |
| Income taxes | 67/77 | €6,404 | €15,008 | +€8,604 | +134.3% |
| Profit (loss) for the period | 9904 | €10,423 | €27,005 | +€16,581 | +159.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,423 | €27,005 | +€16,581 | +159.1% |
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 12 October 2026 via checked.be.