IMBOCK: 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
IMBOCK
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
€1.4m
2024 · €1.1m+€330,702
Equity
€19.9m
2024 · €18.6m+€1.3m
Cash
€35,774
2024 · €42,257-€6,483
Balance sheet total
€21.2m
2024 · €19.9m+€1.2m
Largest movements
Assets
- Receivables within one year +€1.0m
up €1.0m (+92.9%), from €1.1m to €2.1m
of which Other amounts receivable: +€1.0m
- Receivables after one year +€734,720
up €734,720 (+10.5%), from €7.0m to €7.7m
- Tangible fixed assets -€501,455
down €501,455 (-4.2%), from €11.8m to €11.3m
of which Land and buildings: -€588,955
Equity and liabilities
- Reserves +€1.3m
up €1.3m (+7.2%), from €18.5m to €19.8m
of which Distributable reserves: +€771,274
- Trade debts -€382,852
down €382,852 (-62.7%), from €610,802 to €227,951
Income statement
- Gross operating margin +€488,414
up €488,414 (+20.8%), from €2.3m to €2.8m
- Financial income -€64,302
down €64,302 (-26.0%), from €247,290 to €182,988
- Staff costs -€35,097
down €35,097 (-16.2%), from €216,428 to €181,331
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
€1.1m
Gross operating margin
+€488,414
Staff costs
+€35,097
Depreciation
-€7,266
Write-downs
+€5,347
Other operating charges
+€3,852
Financial income
-€64,302
Financial charges
+€27
Taxes
+€18,494
Deferred taxes and other
-€148,961
Result 2025
€1.4m
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
+€307,823
Investment
-€205,298
Financing
-€109,008
Cash 2024
€42,257
From operations (derived)
+€307,823
Net result for the year
+€1.4m
Depreciation
+€706,753
Receivables after one year
-€734,720
Receivables within one year
-€1.0m
Deferred charges and accrued income
+€25,810
Provisions
+€93,281
Trade debts
-€382,852
Tax, wage and social debts
-€38,636
Other debts
+€207,444
Accrued charges and deferred income
+€2,030
Investment (derived)
-€205,298
Investment in fixed assets (net)
-€205,298
Financing
-€109,008
Contributions, distributions and other
-€109,008
Cash 2025
€35,774
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,949,287 | €21,155,320 | +€1.2m | +6.0% |
| Fixed assets | 21/28 | €11,830,002 | €11,328,548 | -€501,455 | -4.2% |
| Tangible fixed assets | 22/27 | €11,830,002 | €11,328,548 | -€501,455 | -4.2% |
| Land and buildings | 22 | €11,776,646 | €11,187,691 | -€588,955 | -5.0% |
| Other tangible fixed assets | 26 | €53,356 | €53,356 | = | 0.0% |
| Assets under construction and advance payments | 27 | - | €87,500 | +€87,500 | |
| Current assets | 29/58 | €8,119,285 | €9,826,772 | +€1.7m | +21.0% |
| Amounts receivable after more than one year | 29 | €6,968,574 | €7,703,294 | +€734,720 | +10.5% |
| Other amounts receivable | 291 | €6,968,574 | €7,703,294 | +€734,720 | +10.5% |
| Amounts receivable within one year | 40/41 | €1,082,214 | €2,087,274 | +€1.0m | +92.9% |
| Trade receivables | 40 | €58,619 | €28,181 | -€30,438 | -51.9% |
| Other amounts receivable | 41 | €1,023,595 | €2,059,093 | +€1.0m | +101% |
| Cash at bank and in hand | 54/58 | €42,257 | €35,774 | -€6,483 | -15.3% |
| Deferred charges and accrued income | 490/1 | €26,240 | €430 | -€25,810 | -98.4% |
| Total equity and liabilities | 10/49 | €19,949,287 | €21,155,320 | +€1.2m | +6.0% |
| Equity | 10/15 | €18,565,570 | €19,890,336 | +€1.3m | +7.1% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €18,503,070 | €19,827,836 | +€1.3m | +7.2% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,520,791 | €3,074,283 | +€553,492 | +22.0% |
| Distributable reserves | 133 | €15,976,029 | €16,747,303 | +€771,274 | +4.8% |
| Provisions and deferred taxes | 16 | €537,688 | €630,968 | +€93,281 | +17.3% |
| Deferred taxes | 168 | €537,688 | €630,968 | +€93,281 | +17.3% |
| Amounts payable | 17/49 | €846,030 | €634,016 | -€212,014 | -25.1% |
| Amounts payable within one year | 42/48 | €831,952 | €617,908 | -€214,044 | -25.7% |
| Trade debts | 44 | €610,802 | €227,951 | -€382,852 | -62.7% |
| Suppliers | 440/4 | €610,802 | €227,951 | -€382,852 | -62.7% |
| Taxes, remuneration and social security | 45 | €76,026 | €37,390 | -€38,636 | -50.8% |
| Taxes | 450/3 | €55,566 | €17,791 | -€37,775 | -68.0% |
| Remuneration and social security | 454/9 | €20,460 | €19,599 | -€861 | -4.2% |
| Other amounts payable | 47/48 | €145,123 | €352,567 | +€207,444 | +143% |
| Accrued charges and deferred income | 492/3 | €14,078 | €16,108 | +€2,030 | +14.4% |
| Non-recurring operating income | 76A | - | €629,815 | +€629,815 | |
| Remuneration, social security and pensions | 62 | €216,428 | €181,331 | -€35,097 | -16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €699,487 | €706,753 | +€7,266 | +1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€5,347 | -€5,347 | |
| Other operating charges | 640/8 | €214,862 | €211,010 | -€3,852 | -1.8% |
| Gross operating margin | 9900 | €2,345,944 | €2,834,358 | +€488,414 | +20.8% |
| Operating profit (loss) | 9901 | €1,215,167 | €1,740,612 | +€525,444 | +43.2% |
| Financial income | 75/76B | €247,290 | €182,988 | -€64,302 | -26.0% |
| Recurring financial income | 75 | €247,290 | €182,988 | -€64,302 | -26.0% |
| Financial charges | 65/66B | €253 | €226 | -€27 | -10.8% |
| Recurring financial charges | 65 | €253 | €226 | -€27 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €1,462,204 | €1,923,374 | +€461,170 | +31.5% |
| Transfer from deferred taxes | 780 | €55,680 | €60,258 | +€4,577 | +8.2% |
| Transfer to deferred taxes | 680 | - | €153,538 | +€153,538 | |
| Income taxes | 67/77 | €414,813 | €396,319 | -€18,494 | -4.5% |
| Profit (loss) for the period | 9904 | €1,103,072 | €1,433,774 | +€330,702 | +30.0% |
| Transfer from tax-exempt reserves | 789 | €167,041 | €180,773 | +€13,732 | +8.2% |
| Transfer to tax-exempt reserves | 689 | €315,750 | €881,615 | +€565,865 | +179% |
| Profit (loss) for the period to be appropriated | 9905 | €954,363 | €732,932 | -€221,431 | -23.2% |
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 15 October 2026 via checked.be.