Immergo: 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.
Immergo
Largest movements
- Cash +€108,932
up €108,932 (+129%), from €84,638 to €193,571
mainly Net result for the year (+€206,239) and Tax, wage and social debts (+€64,862)
- Tangible fixed assets -€55,853
down €55,853 (-30.9%), from €180,685 to €124,832
of which Furniture and vehicles: -€58,324
- Receivables within one year -€53,145
down €53,145 (-11.4%), from €467,118 to €413,973
of which Other amounts receivable: -€50,338
- Other debts -€69,941
down €69,941 (-27.8%), from €251,981 to €182,039
- Tax, wage and social debts +€64,862
up €64,862 (+868%), from €7,475 to €72,337
of which Taxes: +€67,587
- Debts after one year -€38,383
down €38,383 (-51.8%), from €74,114 to €35,732
- Trade debts +€35,512
up €35,512 (+51.7%), from €68,706 to €104,218
- Reserves +€7,361
up €7,361 (+2.6%), from €279,906 to €287,267
- Gross operating margin +€255,983
up €255,983 (+210%), from €122,155 to €378,138
- Taxes +€93,471
up €93,471 (+1,968%), from €4,750 to €98,221
- Staff costs -€38,149
no longer reported in 2025 (was €38,149)
- Financial charges -€3,906
down €3,906 (-27.1%), from €14,406 to €10,500
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €732,441 | €732,375 | -€65 | 0.0% |
| Fixed assets | 21/28 | €180,685 | €124,832 | -€55,853 | -30.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €180,685 | €124,832 | -€55,853 | -30.9% |
| Plant, machinery and equipment | 23 | €10,458 | €12,929 | +€2,471 | +23.6% |
| Furniture and vehicles | 24 | €170,227 | €111,902 | -€58,324 | -34.3% |
| Current assets | 29/58 | €551,756 | €607,544 | +€55,788 | +10.1% |
| Amounts receivable within one year | 40/41 | €467,118 | €413,973 | -€53,145 | -11.4% |
| Trade receivables | 40 | €416,779 | €413,973 | -€2,806 | -0.7% |
| Other amounts receivable | 41 | €50,338 | - | -€50,338 | |
| Cash at bank and in hand | 54/58 | €84,638 | €193,571 | +€108,932 | +129% |
| Total equity and liabilities | 10/49 | €732,441 | €732,375 | -€65 | 0.0% |
| Equity | 10/15 | €292,306 | €299,667 | +€7,361 | +2.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €279,906 | €287,267 | +€7,361 | +2.6% |
| Distributable reserves | 133 | €279,906 | €287,267 | +€7,361 | +2.6% |
| Amounts payable | 17/49 | €440,135 | €432,708 | -€7,427 | -1.7% |
| Amounts payable after more than one year | 17 | €74,114 | €35,732 | -€38,383 | -51.8% |
| Financial debts | 170/4 | €74,114 | €35,732 | -€38,383 | -51.8% |
| Amounts payable within one year | 42/48 | €366,021 | €396,976 | +€30,956 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €37,859 | €38,383 | +€524 | +1.4% |
| Trade debts | 44 | €68,706 | €104,218 | +€35,512 | +51.7% |
| Suppliers | 440/4 | €68,706 | €104,218 | +€35,512 | +51.7% |
| Taxes, remuneration and social security | 45 | €7,475 | €72,337 | +€64,862 | +868% |
| Taxes | 450/3 | €4,750 | €72,337 | +€67,587 | +1,423% |
| Remuneration and social security | 454/9 | €2,726 | - | -€2,726 | |
| Other amounts payable | 47/48 | €251,981 | €182,039 | -€69,941 | -27.8% |
| Non-recurring operating income | 76A | €500 | - | -€500 | |
| Remuneration, social security and pensions | 62 | €38,149 | - | -€38,149 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,729 | €61,194 | +€1,466 | +2.5% |
| Other operating charges | 640/8 | €2,943 | €3,065 | +€122 | +4.1% |
| Gross operating margin | 9900 | €122,155 | €378,138 | +€255,983 | +210% |
| Operating profit (loss) | 9901 | €21,334 | €313,878 | +€292,545 | +1,371% |
| Financial income | 75/76B | €813 | €1,082 | +€269 | +33.0% |
| Recurring financial income | 75 | €813 | €1,082 | +€269 | +33.0% |
| Financial charges | 65/66B | €14,406 | €10,500 | -€3,906 | -27.1% |
| Recurring financial charges | 65 | €14,406 | €10,500 | -€3,906 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €7,741 | €304,460 | +€296,719 | +3,833% |
| Income taxes | 67/77 | €4,750 | €98,221 | +€93,471 | +1,968% |
| Profit (loss) for the period | 9904 | €2,991 | €206,239 | +€203,248 | +6,795% |
| Profit (loss) for the period to be appropriated | 9905 | €2,991 | €206,239 | +€203,248 | +6,795% |
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.