IMMHORECAS: 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.
IMMHORECAS
Largest movements
- Tangible fixed assets -€23,720
down €23,720 (-4.0%), from €600,000 to €576,280
- Receivables within one year +€6,300
up €6,300 (+21.0%), from €30,000 to €36,300
- Profit (loss) carried forward -€48,582
down €48,582 (-21.1%), from -€229,968 to -€278,551
- Debts after one year +€23,411
up €23,411 (+5.9%), from €393,990 to €417,401
of which Other amounts payable: +€256,635
- Tax, wage and social debts +€6,300
new in 2025: €6,300
- Gross operating margin -€37,224
down €37,224, from €29,214 to -€8,010
- Other operating charges -€300
down €300 (-9.6%), from €3,145 to €2,845
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €630,000 | €612,580 | -€17,420 | -2.8% |
| Fixed assets | 21/28 | €600,000 | €576,280 | -€23,720 | -4.0% |
| Tangible fixed assets | 22/27 | €600,000 | €576,280 | -€23,720 | -4.0% |
| Land and buildings | 22 | €600,000 | €576,280 | -€23,720 | -4.0% |
| Current assets | 29/58 | €30,000 | €36,300 | +€6,300 | +21.0% |
| Amounts receivable within one year | 40/41 | €30,000 | €36,300 | +€6,300 | +21.0% |
| Trade receivables | 40 | €30,000 | €36,300 | +€6,300 | +21.0% |
| Total equity and liabilities | 10/49 | €630,000 | €612,580 | -€17,420 | -2.8% |
| Equity | 10/15 | €221,381 | €172,799 | -€48,582 | -21.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | - | -€6,200 | |
| Other | 1109/19 | €6,200 | - | -€6,200 | |
| Revaluation surpluses | 12 | €444,875 | €444,875 | = | 0.0% |
| Reserves | 13 | €275 | €275 | = | 0.0% |
| Non-distributable reserves | 130/1 | €275 | €275 | = | 0.0% |
| Reserves not available under the articles | 1311 | €275 | €275 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€229,968 | -€278,551 | -€48,582 | -21.1% |
| Amounts payable | 17/49 | €408,619 | €439,781 | +€31,162 | +7.6% |
| Amounts payable after more than one year | 17 | €393,990 | €417,401 | +€23,411 | +5.9% |
| Financial debts | 170/4 | €393,990 | €160,766 | -€233,224 | -59.2% |
| Other amounts payable | 178/9 | - | €256,635 | +€256,635 | |
| Amounts payable within one year | 42/48 | €14,629 | €22,380 | +€7,751 | +53.0% |
| Current portion of amounts payable after more than one year | 42 | €6,345 | €6,884 | +€539 | +8.5% |
| Trade debts | 44 | €7,307 | €8,219 | +€912 | +12.5% |
| Suppliers | 440/4 | €7,307 | €8,219 | +€912 | +12.5% |
| Taxes, remuneration and social security | 45 | - | €6,300 | +€6,300 | |
| Taxes | 450/3 | - | €6,300 | +€6,300 | |
| Other amounts payable | 47/48 | €977 | €977 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,910 | €23,720 | -€190 | -0.8% |
| Other operating charges | 640/8 | €3,145 | €2,845 | -€300 | -9.6% |
| Gross operating margin | 9900 | €29,214 | -€8,010 | -€37,224 | |
| Operating profit (loss) | 9901 | €2,159 | -€34,575 | -€36,734 | |
| Financial charges | 65/66B | €13,904 | €14,007 | +€103 | +0.7% |
| Recurring financial charges | 65 | €13,904 | €14,007 | +€103 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,746 | -€48,582 | -€36,837 | -314% |
| Profit (loss) for the period | 9904 | -€11,746 | -€48,582 | -€36,837 | -314% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,746 | -€48,582 | -€36,837 | -314% |
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 30 October 2026 via checked.be.