FIMOVAR: 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
FIMOVAR
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€278,546
2024 · €264,114+€14,432
Equity
€1.6m
2024 · €1.3m+€278,546
Cash
€180
2024 · €22+€158
Balance sheet total
€3.5m
2024 · €3.6m-€67,164
Largest movements
Assets
- Tangible fixed assets -€65,545
down €65,545 (-5.9%), from €1.1m to €1.1m
of which Land and buildings: -€62,278
Equity and liabilities
- Reserves +€275,000
up €275,000 (+22.1%), from €1.2m to €1.5m
of which Distributable reserves: +€275,000
- Other debts -€257,198
down €257,198 (-19.2%), from €1.3m to €1.1m
- Debts after one year -€108,038
down €108,038 (-14.4%), from €751,323 to €643,286
Income statement
- Gross operating margin +€35,285
up €35,285 (+11.6%), from €303,440 to €338,725
- Financial income -€24,752
down €24,752 (-16.4%), from €150,998 to €126,246
- Financial charges -€19,507
down €19,507 (-36.2%), from €53,852 to €34,346
- Taxes +€14,371
up €14,371 (+36.6%), from €39,299 to €53,671
- Staff costs +€4,301
up €4,301 (+16.1%), from €26,687 to €30,988
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
€264,114
Gross operating margin
+€35,285
Staff costs
-€4,301
Depreciation
+€2,481
Other operating charges
+€583
Financial income
-€24,752
Financial charges
+€19,507
Taxes
-€14,371
Result 2025
€278,546
raises the resultlowers the result
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
+€94,006
Investment
-€3,663
Financing
-€90,185
Cash 2024
€22
From operations (derived)
+€94,006
Net result for the year
+€278,546
Depreciation
+€65,545
Receivables within one year
-€388
Deferred charges and accrued income
+€5,828
Trade debts
-€1,148
Tax, wage and social debts
+€17,422
Other debts
-€257,198
Accrued charges and deferred income
-€14,601
Investment (derived)
-€3,663
Current investments
-€3,663
Financing
-€90,185
Debts after one year
-€108,038
Current portion of long-term debt
+€4,913
Short-term financial debts
+€12,940
Cash 2025
€180
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,598,941 | €3,531,777 | -€67,164 | -1.9% |
| Fixed assets | 21/28 | €3,306,780 | €3,241,236 | -€65,545 | -2.0% |
| Tangible fixed assets | 22/27 | €1,118,819 | €1,053,275 | -€65,545 | -5.9% |
| Land and buildings | 22 | €1,110,655 | €1,048,377 | -€62,278 | -5.6% |
| Plant, machinery and equipment | 23 | €8,164 | €4,898 | -€3,267 | -40.0% |
| Financial fixed assets | 28 | €2,187,961 | €2,187,961 | = | 0.0% |
| Current assets | 29/58 | €292,160 | €290,541 | -€1,619 | -0.6% |
| Amounts receivable within one year | 40/41 | €70,020 | €70,407 | +€388 | +0.6% |
| Trade receivables | 40 | €70,000 | €70,407 | +€407 | +0.6% |
| Other amounts receivable | 41 | €20 | - | -€20 | |
| Current investments | 50/53 | €203,600 | €207,263 | +€3,663 | +1.8% |
| Cash at bank and in hand | 54/58 | €22 | €180 | +€158 | +726% |
| Deferred charges and accrued income | 490/1 | €18,519 | €12,691 | -€5,828 | -31.5% |
| Total equity and liabilities | 10/49 | €3,598,941 | €3,531,777 | -€67,164 | -1.9% |
| Equity | 10/15 | €1,330,173 | €1,608,720 | +€278,546 | +20.9% |
| Contributions | 10/11 | €66,931 | €66,931 | = | 0.0% |
| Capital | 10 | €66,931 | €66,931 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Uncalled capital | 101 | €57,016 | €57,016 | = | 0.0% |
| Reserves | 13 | €1,243,572 | €1,518,572 | +€275,000 | +22.1% |
| Non-distributable reserves | 130/1 | €12,522 | €12,522 | = | 0.0% |
| Legal reserve | 130 | €12,522 | €12,522 | = | 0.0% |
| Tax-exempt reserves | 132 | €71 | €71 | = | 0.0% |
| Distributable reserves | 133 | €1,230,978 | €1,505,978 | +€275,000 | +22.3% |
| Profit (loss) carried forward | 14 | €19,670 | €23,217 | +€3,546 | +18.0% |
| Amounts payable | 17/49 | €2,268,767 | €1,923,057 | -€345,710 | -15.2% |
| Amounts payable after more than one year | 17 | €751,323 | €643,286 | -€108,038 | -14.4% |
| Financial debts | 170/4 | €751,323 | €643,286 | -€108,038 | -14.4% |
| Amounts payable within one year | 42/48 | €1,485,320 | €1,262,249 | -€223,072 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €110,309 | €115,222 | +€4,913 | +4.5% |
| Financial debts | 43 | €10,250 | €23,190 | +€12,940 | +126% |
| Other loans | 439 | €10,250 | €23,190 | +€12,940 | +126% |
| Trade debts | 44 | €11,884 | €10,736 | -€1,148 | -9.7% |
| Suppliers | 440/4 | €11,884 | €10,736 | -€1,148 | -9.7% |
| Taxes, remuneration and social security | 45 | €13,214 | €30,635 | +€17,422 | +132% |
| Taxes | 450/3 | €11,649 | €29,512 | +€17,863 | +153% |
| Remuneration and social security | 454/9 | €1,564 | €1,123 | -€441 | -28.2% |
| Other amounts payable | 47/48 | €1,339,663 | €1,082,466 | -€257,198 | -19.2% |
| Accrued charges and deferred income | 492/3 | €32,124 | €17,523 | -€14,601 | -45.5% |
| Remuneration, social security and pensions | 62 | €26,687 | €30,988 | +€4,301 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,026 | €65,545 | -€2,481 | -3.6% |
| Other operating charges | 640/8 | €2,458 | €1,875 | -€583 | -23.7% |
| Gross operating margin | 9900 | €303,440 | €338,725 | +€35,285 | +11.6% |
| Operating profit (loss) | 9901 | €206,268 | €240,317 | +€34,048 | +16.5% |
| Financial income | 75/76B | €150,998 | €126,246 | -€24,752 | -16.4% |
| Recurring financial income | 75 | €150,998 | €126,246 | -€24,752 | -16.4% |
| Financial charges | 65/66B | €53,852 | €34,346 | -€19,507 | -36.2% |
| Recurring financial charges | 65 | €53,852 | €34,346 | -€19,507 | -36.2% |
| Profit (loss) for the period before taxes | 9903 | €303,414 | €332,217 | +€28,803 | +9.5% |
| Income taxes | 67/77 | €39,299 | €53,671 | +€14,371 | +36.6% |
| Profit (loss) for the period | 9904 | €264,114 | €278,546 | +€14,432 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €264,114 | €278,546 | +€14,432 | +5.5% |
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 21 October 2026 via checked.be.