IMMBRA: what changed
Two fiscal 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
IMMBRA
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€10,416
2024 · -€28,643+€39,059
Equity
€411
2024 · -€10,006+€10,416
Cash
€32,149
2024 · €27,904+€4,245
Balance sheet total
€2.6m
2024 · €2.2m+€425,347
Largest movements
Assets
- Tangible fixed assets +€414,276
up €414,276 (+19.5%), from €2.1m to €2.5m
of which Land and buildings: +€393,515
Equity and liabilities
- Other debts +€326,027
up €326,027 (+111.2%), from €293,278 to €619,306
- Debts after one year +€73,352
up €73,352 (+4.3%), from €1.7m to €1.8m
of which Financial debts: +€73,352
Income statement
- Gross operating margin +€44,777
up €44,777 (+25.3%), from €177,131 to €221,908
- Depreciation +€6,880
up €6,880 (+5.8%), from €118,795 to €125,675
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
-€28,643
Gross operating margin
+€44,777
Depreciation
-€6,880
Other operating charges
-€1,550
Other operating items
+€627
Financial income
+€1,236
Financial charges
+€856
Taxes
-€6
Result 2025
€10,416
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.
From operations
+€487,891
Investment
-€542,951
Financing
+€59,305
Cash 2024
€27,904
From operations (derived)
+€487,891
Net result for the year
+€10,416
Depreciation
+€125,675
Receivables within one year
-€2,752
Deferred charges and accrued income
-€1,074
Trade debts
+€16,263
Tax, wage and social debts
+€9,202
Advances received
+€1,816
Other debts
+€326,027
Accrued charges and deferred income
+€2,317
Investment (derived)
-€542,951
Investment in fixed assets (net)
-€542,951
Financing
+€59,305
Debts after one year
+€73,352
Current portion of long-term debt
-€14,047
Cash 2025
€32,149
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,160,406 | €2,585,753 | +€425,347 | +19.7% |
| Fixed assets | 21/28 | €2,125,661 | €2,542,937 | +€417,276 | +19.6% |
| Tangible fixed assets | 22/27 | €2,124,661 | €2,538,937 | +€414,276 | +19.5% |
| Land and buildings | 22 | €1,963,027 | €2,356,542 | +€393,515 | +20.0% |
| Plant, machinery and equipment | 23 | €11,708 | €49,363 | +€37,655 | +321.6% |
| Furniture and vehicles | 24 | €149,926 | €133,032 | -€16,894 | -11.3% |
| Financial fixed assets | 28 | €1,000 | €4,000 | +€3,000 | +300.0% |
| Current assets | 29/58 | €34,745 | €42,816 | +€8,071 | +23.2% |
| Amounts receivable within one year | 40/41 | €1,369 | €4,121 | +€2,752 | +201.1% |
| Trade receivables | 40 | €1,369 | €4,121 | +€2,752 | +201.1% |
| Cash at bank and in hand | 54/58 | €27,904 | €32,149 | +€4,245 | +15.2% |
| Deferred charges and accrued income | 490/1 | €5,473 | €6,547 | +€1,074 | +19.6% |
| Total equity and liabilities | 10/49 | €2,160,406 | €2,585,753 | +€425,347 | +19.7% |
| Equity | 10/15 | -€10,006 | €411 | +€10,416 | |
| Contributions | 10/11 | €312,000 | €312,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€322,006 | -€311,589 | +€10,416 | +3.2% |
| Amounts payable | 17/49 | €2,170,412 | €2,585,343 | +€414,930 | +19.1% |
| Amounts payable after more than one year | 17 | €1,715,465 | €1,788,818 | +€73,352 | +4.3% |
| Financial debts | 170/4 | €1,315,465 | €1,388,818 | +€73,352 | +5.6% |
| Other amounts payable | 178/9 | €400,000 | €400,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €424,459 | €763,721 | +€339,261 | +79.9% |
| Current portion of amounts payable after more than one year | 42 | €120,006 | €105,958 | -€14,047 | -11.7% |
| Trade debts | 44 | €2,746 | €19,009 | +€16,263 | +592.3% |
| Suppliers | 440/4 | €2,746 | €19,009 | +€16,263 | +592.3% |
| Advances received on contracts in progress | 46 | - | €1,816 | +€1,816 | |
| Taxes, remuneration and social security | 45 | €8,430 | €17,632 | +€9,202 | +109.2% |
| Taxes | 450/3 | €8,430 | €17,632 | +€9,202 | +109.2% |
| Other amounts payable | 47/48 | €293,278 | €619,306 | +€326,027 | +111.2% |
| Accrued charges and deferred income | 492/3 | €30,487 | €32,804 | +€2,317 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,795 | €125,675 | +€6,880 | +5.8% |
| Other operating charges | 640/8 | €19,401 | €20,952 | +€1,550 | +8.0% |
| Non-recurring operating charges | 66A | €869 | €242 | -€627 | -72.2% |
| Gross operating margin | 9900 | €177,131 | €221,908 | +€44,777 | +25.3% |
| Operating profit (loss) | 9901 | €38,065 | €75,039 | +€36,974 | +97.1% |
| Financial income | 75/76B | €194 | €1,430 | +€1,236 | +636.0% |
| Recurring financial income | 75 | €194 | €1,430 | +€1,236 | +636.0% |
| Financial charges | 65/66B | €66,721 | €65,865 | -€856 | -1.3% |
| Recurring financial charges | 65 | €66,721 | €65,865 | -€856 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | -€28,461 | €10,604 | +€39,065 | |
| Income taxes | 67/77 | €182 | €188 | +€6 | +3.2% |
| Profit (loss) for the period | 9904 | -€28,643 | €10,416 | +€39,059 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,643 | €10,416 | +€39,059 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.