IMMER: 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.
IMMER
Largest movements
- Current investments +€2.7m
new in 2025: €2.7m
- Tangible fixed assets -€1.4m
down €1.4m (-58.4%), from €2.5m to €1.0m
of which Land and buildings: -€1.4m
- Cash +€59,427
up €59,427 (+1219.1%), from €4,875 to €64,302
mainly Net result for the year (+€1.9m) and Investment in fixed assets (net) (+€1.4m)
- Profit (loss) carried forward +€2.3m
up €2.3m (+306.5%), from €753,509 to €3.1m
- Other debts -€480,655
down €480,655 (-70.1%), from €686,052 to €205,397
- Reserves -€384,279
down €384,279 (-71.8%), from €535,301 to €151,022
of which Tax-exempt reserves: -€384,279
- Provisions -€197,327
down €197,327 (-88.3%), from €223,397 to €26,069
- Tax, wage and social debts +€145,219
new in 2025: €145,219
- Gross operating margin +€2.5m
up €2.5m (+2177.3%), from €114,023 to €2.6m
- Taxes +€796,167
new in 2025: €796,167
- Depreciation -€155,472
down €155,472 (-75.7%), from €205,425 to €49,953
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 | €2,682,443 | €4,005,726 | +€1.3m | +49.3% |
| Fixed assets | 21/28 | €2,462,311 | €1,023,336 | -€1.4m | -58.4% |
| Tangible fixed assets | 22/27 | €2,462,311 | €1,023,336 | -€1.4m | -58.4% |
| Land and buildings | 22 | €2,454,667 | €1,023,336 | -€1.4m | -58.3% |
| Plant, machinery and equipment | 23 | €292 | - | -€292 | |
| Furniture and vehicles | 24 | €7,352 | - | -€7,352 | |
| Current assets | 29/58 | €220,131 | €2,982,391 | +€2.8m | +1254.8% |
| Amounts receivable after more than one year | 29 | €204,098 | €204,098 | = | 0.0% |
| Other amounts receivable | 291 | €204,098 | €204,098 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,725 | €1,745 | +€20 | +1.2% |
| Trade receivables | 40 | €725 | €725 | = | 0.0% |
| Other amounts receivable | 41 | €1,000 | €1,020 | +€20 | +2.0% |
| Current investments | 50/53 | - | €2,700,000 | +€2.7m | |
| Cash at bank and in hand | 54/58 | €4,875 | €64,302 | +€59,427 | +1219.1% |
| Deferred charges and accrued income | 490/1 | €9,433 | €12,246 | +€2,812 | +29.8% |
| Total equity and liabilities | 10/49 | €2,682,443 | €4,005,726 | +€1.3m | +49.3% |
| Equity | 10/15 | €1,307,410 | €3,232,658 | +€1.9m | +147.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €535,301 | €151,022 | -€384,279 | -71.8% |
| Tax-exempt reserves | 132 | €483,441 | €99,162 | -€384,279 | -79.5% |
| Distributable reserves | 133 | €51,860 | €51,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €753,509 | €3,063,036 | +€2.3m | +306.5% |
| Provisions and deferred taxes | 16 | €223,397 | €26,069 | -€197,327 | -88.3% |
| Deferred taxes | 168 | €223,397 | €26,069 | -€197,327 | -88.3% |
| Amounts payable | 17/49 | €1,151,636 | €746,999 | -€404,638 | -35.1% |
| Amounts payable after more than one year | 17 | €393,610 | €343,258 | -€50,351 | -12.8% |
| Financial debts | 170/4 | €393,610 | €343,258 | -€50,351 | -12.8% |
| Amounts payable within one year | 42/48 | €758,027 | €403,740 | -€354,286 | -46.7% |
| Current portion of amounts payable after more than one year | 42 | €51,192 | €52,001 | +€810 | +1.6% |
| Trade debts | 44 | €20,783 | €1,123 | -€19,660 | -94.6% |
| Suppliers | 440/4 | €20,783 | €1,123 | -€19,660 | -94.6% |
| Taxes, remuneration and social security | 45 | - | €145,219 | +€145,219 | |
| Taxes | 450/3 | - | €145,219 | +€145,219 | |
| Other amounts payable | 47/48 | €686,052 | €205,397 | -€480,655 | -70.1% |
| Non-recurring operating income | 76A | - | €2,550,097 | +€2.6m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €205,425 | €49,953 | -€155,472 | -75.7% |
| Other operating charges | 640/8 | €13,341 | €13,770 | +€430 | +3.2% |
| Gross operating margin | 9900 | €114,023 | €2,596,693 | +€2.5m | +2177.3% |
| Operating profit (loss) | 9901 | -€104,743 | €2,532,969 | +€2.6m | |
| Financial income | 75/76B | €4,082 | €4,572 | +€490 | +12.0% |
| Recurring financial income | 75 | €4,082 | €4,572 | +€490 | +12.0% |
| Financial charges | 65/66B | €14,831 | €13,452 | -€1,379 | -9.3% |
| Recurring financial charges | 65 | €14,831 | €13,452 | -€1,379 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | -€115,491 | €2,524,089 | +€2.6m | |
| Transfer from deferred taxes | 780 | €33,186 | €145,402 | +€112,216 | +338.1% |
| Income taxes | 67/77 | - | €796,167 | +€796,167 | |
| Profit (loss) for the period | 9904 | -€82,306 | €1,873,323 | +€2.0m | |
| Transfer from tax-exempt reserves | 789 | €65,509 | €436,205 | +€370,696 | +565.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,797 | €2,309,527 | +€2.3m |
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.