IMMIROC: 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.
IMMIROC
Largest movements
- Tangible fixed assets +€169,339
up €169,339 (+80.1%), from €211,321 to €380,660
of which Assets under construction and advance payments: +€175,089
- Receivables within one year +€24,486
up €24,486 (+156.3%), from €15,670 to €40,156
- Deferred charges and accrued income +€13,200
up €13,200 (+206.0%), from €6,408 to €19,609
- Debts after one year +€180,329
up €180,329 (+123.3%), from €146,250 to €326,579
- Other debts -€38,009
down €38,009 (-61.5%), from €61,813 to €23,804
- Tax, wage and social debts +€22,703
up €22,703 (+114.0%), from €19,909 to €42,612
of which Remuneration and social security: +€17,041
- Reserves +€16,800
new in 2025: €16,800
- Current portion of long-term debt +€11,389
new in 2025: €11,389
- Gross operating margin +€97,334
up €97,334 (+73.1%), from €133,199 to €230,533
- Staff costs +€58,415
up €58,415 (+49.1%), from €118,960 to €177,375
- Depreciation -€20,049
down €20,049 (-71.4%), from €28,077 to €8,028
- Financial charges +€10,981
up €10,981 (+747.3%), from €1,469 to €12,450
of which Financial charges: +€11,105
- Taxes +€5,295
up €5,295, from -€72 to €5,224
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 | €236,846 | €444,122 | +€207,276 | +87.5% |
| Fixed assets | 21/28 | €214,467 | €382,906 | +€168,439 | +78.5% |
| Intangible fixed assets | 21 | €3,146 | €2,246 | -€900 | -28.6% |
| Tangible fixed assets | 22/27 | €211,321 | €380,660 | +€169,339 | +80.1% |
| Land and buildings | 22 | €174,840 | €170,333 | -€4,507 | -2.6% |
| Furniture and vehicles | 24 | €6,762 | €5,518 | -€1,243 | -18.4% |
| Assets under construction and advance payments | 27 | €29,719 | €204,809 | +€175,089 | +589.1% |
| Current assets | 29/58 | €22,379 | €61,216 | +€38,837 | +173.5% |
| Amounts receivable within one year | 40/41 | €15,670 | €40,156 | +€24,486 | +156.3% |
| Trade receivables | 40 | €15,670 | €40,156 | +€24,486 | +156.3% |
| Cash at bank and in hand | 54/58 | €301 | €1,451 | +€1,151 | +383.0% |
| Deferred charges and accrued income | 490/1 | €6,408 | €19,609 | +€13,200 | +206.0% |
| Total equity and liabilities | 10/49 | €236,846 | €444,122 | +€207,276 | +87.5% |
| Equity | 10/15 | -€3,319 | €21,823 | +€25,142 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €16,800 | +€16,800 | |
| Distributable reserves | 133 | - | €16,800 | +€16,800 | |
| Profit (loss) carried forward | 14 | -€8,319 | €23 | +€8,342 | |
| Amounts payable | 17/49 | €240,165 | €422,299 | +€182,134 | +75.8% |
| Amounts payable after more than one year | 17 | €146,250 | €326,579 | +€180,329 | +123.3% |
| Financial debts | 170/4 | €146,250 | €326,579 | +€180,329 | +123.3% |
| Amounts payable within one year | 42/48 | €93,915 | €95,361 | +€1,446 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | - | €11,389 | +€11,389 | |
| Financial debts | 43 | €516 | - | -€516 | |
| Credit institutions | 430/8 | €516 | - | -€516 | |
| Trade debts | 44 | €11,676 | €17,556 | +€5,880 | +50.4% |
| Suppliers | 440/4 | €11,676 | €17,556 | +€5,880 | +50.4% |
| Taxes, remuneration and social security | 45 | €19,909 | €42,612 | +€22,703 | +114.0% |
| Taxes | 450/3 | €5,506 | €11,168 | +€5,662 | +102.8% |
| Remuneration and social security | 454/9 | €14,403 | €31,444 | +€17,041 | +118.3% |
| Other amounts payable | 47/48 | €61,813 | €23,804 | -€38,009 | -61.5% |
| Accrued charges and deferred income | 492/3 | - | €360 | +€360 | |
| Non-recurring operating income | 76A | - | €318 | +€318 | |
| Remuneration, social security and pensions | 62 | €118,960 | €177,375 | +€58,415 | +49.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,077 | €8,028 | -€20,049 | -71.4% |
| Other operating charges | 640/8 | €461 | €1,917 | +€1,455 | +315.5% |
| Non-recurring operating charges | 66A | - | €428 | +€428 | |
| Gross operating margin | 9900 | €133,199 | €230,533 | +€97,334 | +73.1% |
| Operating profit (loss) | 9901 | -€14,300 | €42,785 | +€57,084 | |
| Financial income | 75/76B | €21 | €31 | +€10 | +46.8% |
| Recurring financial income | 75 | €21 | €31 | +€10 | +46.8% |
| Financial charges | 65/66B | €1,469 | €12,450 | +€10,981 | +747.3% |
| Recurring financial charges | 65 | €1,345 | €12,450 | +€11,105 | +825.6% |
| Non-recurring financial charges | 66B | €124 | - | -€124 | |
| Profit (loss) for the period before taxes | 9903 | -€15,748 | €30,366 | +€46,113 | |
| Income taxes | 67/77 | -€72 | €5,224 | +€5,295 | |
| Profit (loss) for the period | 9904 | -€15,676 | €25,142 | +€40,818 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,676 | €25,142 | +€40,818 |
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 4 October 2026 via checked.be.