IMANCO: 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
IMANCO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€112,385
2024 · €188,346-€75,961
Equity
€1.9m
2024 · €1.8m+€112,385
Cash
€1,414
2024 · €6,945-€5,531
Balance sheet total
€2.9m
2024 · €3.0m-€78,814
Largest movements
Assets
- Tangible fixed assets -€81,130
down €81,130 (-3.2%), from €2.5m to €2.5m
of which Land and buildings: -€67,649
Equity and liabilities
- Debts after one year -€244,726
down €244,726 (-23.6%), from €1.0m to €793,176
of which Other amounts payable: -€132,000
- Reserves +€100,000
up €100,000 (+5.9%), from €1.7m to €1.8m
of which Distributable reserves: +€100,000
- Other debts +€61,513
up €61,513 (+68.2%), from €90,184 to €151,696
Income statement
- Gross operating margin -€109,598
down €109,598 (-26.6%), from €412,384 to €302,786
- Taxes -€20,670
down €20,670 (-39.0%), from €53,056 to €32,386
- Financial charges -€5,764
down €5,764 (-12.7%), from €45,304 to €39,540
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
€188,346
Gross operating margin
-€109,598
Staff costs
-€2,305
Depreciation
-€280
Other operating charges
+€493
Other operating items
+€9,240
Financial income
+€56
Financial charges
+€5,764
Taxes
+€20,670
Result 2025
€112,385
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
+€236,059
Investment
-€953
Financing
-€240,636
Cash 2024
€6,945
From operations (derived)
+€236,059
Net result for the year
+€112,385
Depreciation
+€82,083
Receivables within one year
-€10,223
Deferred charges and accrued income
+€2,376
Trade debts
-€7,175
Tax, wage and social debts
-€4,901
Other debts
+€61,513
Investment (derived)
-€953
Investment in fixed assets (net)
-€953
Financing
-€240,636
Debts after one year
-€244,726
Current portion of long-term debt
+€4,089
Cash 2025
€1,414
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,025,930 | €2,947,115 | -€78,814 | -2.6% |
| Fixed assets | 21/28 | €2,898,717 | €2,817,587 | -€81,130 | -2.8% |
| Tangible fixed assets | 22/27 | €2,534,314 | €2,453,184 | -€81,130 | -3.2% |
| Land and buildings | 22 | €2,487,315 | €2,419,666 | -€67,649 | -2.7% |
| Furniture and vehicles | 24 | €46,999 | €33,518 | -€13,481 | -28.7% |
| Financial fixed assets | 28 | €364,403 | €364,403 | = | 0.0% |
| Current assets | 29/58 | €127,212 | €129,528 | +€2,315 | +1.8% |
| Amounts receivable within one year | 40/41 | €113,608 | €123,831 | +€10,223 | +9.0% |
| Trade receivables | 40 | €28,467 | €2,081 | -€26,386 | -92.7% |
| Other amounts receivable | 41 | €85,142 | €121,750 | +€36,608 | +43.0% |
| Cash at bank and in hand | 54/58 | €6,945 | €1,414 | -€5,531 | -79.6% |
| Deferred charges and accrued income | 490/1 | €6,659 | €4,283 | -€2,376 | -35.7% |
| Total equity and liabilities | 10/49 | €3,025,930 | €2,947,115 | -€78,814 | -2.6% |
| Equity | 10/15 | €1,775,304 | €1,887,689 | +€112,385 | +6.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €1,706,197 | €1,806,197 | +€100,000 | +5.9% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €1,700,000 | €1,800,000 | +€100,000 | +5.9% |
| Profit (loss) carried forward | 14 | €7,133 | €19,518 | +€12,385 | +174% |
| Amounts payable | 17/49 | €1,250,626 | €1,059,426 | -€191,200 | -15.3% |
| Amounts payable after more than one year | 17 | €1,037,901 | €793,176 | -€244,726 | -23.6% |
| Financial debts | 170/4 | €883,901 | €771,176 | -€112,726 | -12.8% |
| Other amounts payable | 178/9 | €154,000 | €22,000 | -€132,000 | -85.7% |
| Amounts payable within one year | 42/48 | €212,724 | €266,250 | +€53,526 | +25.2% |
| Current portion of amounts payable after more than one year | 42 | €108,636 | €112,726 | +€4,089 | +3.8% |
| Trade debts | 44 | €9,003 | €1,829 | -€7,175 | -79.7% |
| Suppliers | 440/4 | €9,003 | €1,829 | -€7,175 | -79.7% |
| Taxes, remuneration and social security | 45 | €4,901 | - | -€4,901 | |
| Taxes | 450/3 | €4,901 | - | -€4,901 | |
| Other amounts payable | 47/48 | €90,184 | €151,696 | +€61,513 | +68.2% |
| Non-recurring operating income | 76A | €25,981 | - | -€25,981 | |
| Remuneration, social security and pensions | 62 | - | €2,305 | +€2,305 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,803 | €82,083 | +€280 | +0.3% |
| Other operating charges | 640/8 | €33,864 | €33,371 | -€493 | -1.5% |
| Non-recurring operating charges | 66A | €10,780 | €1,540 | -€9,240 | -85.7% |
| Gross operating margin | 9900 | €412,384 | €302,786 | -€109,598 | -26.6% |
| Operating profit (loss) | 9901 | €285,938 | €183,487 | -€102,451 | -35.8% |
| Financial income | 75/76B | €769 | €825 | +€56 | +7.3% |
| Recurring financial income | 75 | €769 | €825 | +€56 | +7.3% |
| Financial charges | 65/66B | €45,304 | €39,540 | -€5,764 | -12.7% |
| Recurring financial charges | 65 | €45,304 | €39,540 | -€5,764 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €241,403 | €144,771 | -€96,631 | -40.0% |
| Income taxes | 67/77 | €53,056 | €32,386 | -€20,670 | -39.0% |
| Profit (loss) for the period | 9904 | €188,346 | €112,385 | -€75,961 | -40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €188,346 | €112,385 | -€75,961 | -40.3% |
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 13 October 2026 via checked.be.