IMMIZ: 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
IMMIZ
NACE 64.210, Activities of holding companies
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€1.3m
2025 · €2.0m-€709,636
Equity
€11.1m
2025 · €9.8m+€1.3m
Cash
€165,735
2025 · €80,674+€85,060
Balance sheet total
€15.2m
2025 · €13.9m+€1.3m
Largest movements
Assets
- Financial fixed assets +€1.8m
up €1.8m (+24.5%), from €7.3m to €9.1m
of which Other financial fixed assets: +€1.8m
- Tangible fixed assets -€444,613
down €444,613 (-7.1%), from €6.3m to €5.8m
of which Land and buildings: -€393,050
Equity and liabilities
- Reserves +€1.3m
up €1.3m (+19.3%), from €6.6m to €7.9m
of which Distributable reserves: +€1.2m
- Other debts +€272,247
up €272,247 (+17.1%), from €1.6m to €1.9m
- Debts after one year -€221,413
down €221,413 (-10.8%), from €2.1m to €1.8m
Income statement
- Financial income -€825,348
down €825,348 (-40.5%), from €2.0m to €1.2m
of which Financial income: -€944,310
- Financial charges -€143,321
down €143,321 (-48.2%), from €297,122 to €153,801
of which Financial charges: -€91,898
- Staff costs +€80,215
up €80,215 (+28.7%), from €279,728 to €359,943
- Turnover +€65,115
up €65,115 (+6.8%), from €956,361 to €1.0m
- Taxes +€62,085
up €62,085 (+124.0%), from €50,054 to €112,140
From the 2025 result to the 2026 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 2025
€2.0m
Turnover
+€65,115
Other operating income
+€2,935
Services and other goods
-€25,686
Staff costs
-€80,215
Depreciation
+€15,128
Other operating charges
+€16,759
Other operating items
+€40,441
Financial income
-€825,348
Financial charges
+€143,321
Taxes
-€62,085
Result 2026
€1.3m
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€2.0m
Investment
-€1.6m
Financing
-€298,768
Cash 2025
€80,674
From operations (derived)
+€2.0m
Net result for the year
+€1.3m
Depreciation
+€293,171
Receivables within one year
+€139,319
Deferred charges and accrued income
+€483
Trade debts
+€40,658
Tax, wage and social debts
+€24,991
Other debts
+€272,247
Accrued charges and deferred income
-€27,331
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€1.6m
Financing
-€298,768
Debts after one year
-€221,413
Current portion of long-term debt
-€89,110
Short-term financial debts
+€11,754
Cash 2026
€165,735
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,891,828 | €15,177,359 | +€1.3m | +9.3% |
| Fixed assets | 21/28 | €13,580,375 | €14,920,647 | +€1.3m | +9.9% |
| Tangible fixed assets | 22/27 | €6,289,774 | €5,845,161 | -€444,613 | -7.1% |
| Land and buildings | 22 | €6,092,166 | €5,699,116 | -€393,050 | -6.5% |
| Plant, machinery and equipment | 23 | €197,608 | €146,045 | -€51,563 | -26.1% |
| Financial fixed assets | 28 | €7,290,601 | €9,075,486 | +€1.8m | +24.5% |
| Affiliated companies | 280/1 | €6,427,094 | €6,427,094 | = | 0.0% |
| Participating interests | 280 | €6,427,094 | €6,427,094 | = | 0.0% |
| Other financial fixed assets | 284/8 | €863,507 | €2,648,392 | +€1.8m | +206.7% |
| Shares | 284 | €845,672 | €570,557 | -€275,115 | -32.5% |
| Amounts receivable and cash guarantees | 285/8 | €17,835 | €2,077,835 | +€2.1m | +11550.4% |
| Current assets | 29/58 | €311,453 | €256,711 | -€54,742 | -17.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €227,805 | €88,486 | -€139,319 | -61.2% |
| Trade receivables | 40 | €36,986 | €72,261 | +€35,275 | +95.4% |
| Other amounts receivable | 41 | €190,819 | €16,225 | -€174,594 | -91.5% |
| Cash at bank and in hand | 54/58 | €80,674 | €165,735 | +€85,060 | +105.4% |
| Deferred charges and accrued income | 490/1 | €2,973 | €2,491 | -€483 | -16.2% |
| Total equity and liabilities | 10/49 | €13,891,828 | €15,177,359 | +€1.3m | +9.3% |
| Equity | 10/15 | €9,805,539 | €11,079,272 | +€1.3m | +13.0% |
| Contributions | 10/11 | €3,212,500 | €3,212,500 | = | 0.0% |
| Capital | 10 | €3,212,500 | €3,212,500 | = | 0.0% |
| Issued capital | 100 | €3,212,500 | €3,212,500 | = | 0.0% |
| Reserves | 13 | €6,593,039 | €7,866,772 | +€1.3m | +19.3% |
| Non-distributable reserves | 130/1 | €552,500 | €552,500 | = | 0.0% |
| Legal reserve | 130 | €552,500 | €552,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €67,360 | €189,450 | +€122,090 | +181.3% |
| Distributable reserves | 133 | €5,973,179 | €7,124,822 | +€1.2m | +19.3% |
| Amounts payable | 17/49 | €4,086,290 | €4,098,087 | +€11,797 | +0.3% |
| Amounts payable after more than one year | 17 | €2,056,756 | €1,835,343 | -€221,413 | -10.8% |
| Financial debts | 170/4 | €2,056,756 | €1,835,343 | -€221,413 | -10.8% |
| Credit institutions | 173 | €2,056,756 | €1,835,343 | -€221,413 | -10.8% |
| Amounts payable within one year | 42/48 | €1,982,609 | €2,243,149 | +€260,541 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €310,522 | €221,413 | -€89,110 | -28.7% |
| Financial debts | 43 | €0 | €11,754 | +€11,754 | |
| Credit institutions | 430/8 | €0 | €11,754 | +€11,754 | |
| Trade debts | 44 | €27,850 | €68,508 | +€40,658 | +146.0% |
| Suppliers | 440/4 | €27,850 | €68,508 | +€40,658 | +146.0% |
| Taxes, remuneration and social security | 45 | €49,874 | €74,865 | +€24,991 | +50.1% |
| Taxes | 450/3 | €3,220 | €3,337 | +€117 | +3.6% |
| Remuneration and social security | 454/9 | €46,654 | €71,528 | +€24,874 | +53.3% |
| Other amounts payable | 47/48 | €1,594,362 | €1,866,610 | +€272,247 | +17.1% |
| Accrued charges and deferred income | 492/3 | €46,925 | €19,594 | -€27,331 | -58.2% |
| Operating income | 70/76A | €1,016,836 | €1,196,732 | +€179,896 | +17.7% |
| Turnover | 70 | €956,361 | €1,021,476 | +€65,115 | +6.8% |
| Other operating income | 74 | €60,474 | €63,410 | +€2,935 | +4.9% |
| Non-recurring operating income | 76A | - | €111,847 | +€111,847 | |
| Operating charges | 60/66A | €722,396 | €867,815 | +€145,420 | +20.1% |
| Services and other goods | 61 | €67,809 | €93,494 | +€25,686 | +37.9% |
| Remuneration, social security and pensions | 62 | €279,728 | €359,943 | +€80,215 | +28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €308,299 | €293,171 | -€15,128 | -4.9% |
| Other operating charges | 640/8 | €66,560 | €49,801 | -€16,759 | -25.2% |
| Non-recurring operating charges | 66A | €0 | €71,406 | +€71,406 | |
| Operating profit (loss) | 9901 | €294,440 | €328,917 | +€34,477 | +11.7% |
| Financial income | 75/76B | €2,036,105 | €1,210,757 | -€825,348 | -40.5% |
| Recurring financial income | 75 | €2,036,105 | €1,091,795 | -€944,310 | -46.4% |
| Income from financial fixed assets | 750 | €2,000,000 | €1,000,000 | -€1.0m | -50.0% |
| Income from current assets | 751 | €36,105 | €91,795 | +€55,690 | +154.2% |
| Other financial income | 752/9 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | €0 | €118,962 | +€118,962 | |
| Financial charges | 65/66B | €297,122 | €153,801 | -€143,321 | -48.2% |
| Recurring financial charges | 65 | €178,160 | €86,262 | -€91,898 | -51.6% |
| Debt charges | 650 | €177,327 | €75,808 | -€101,519 | -57.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €0 | - | = | |
| Other financial charges | 652/9 | €833 | €10,454 | +€9,621 | +1154.4% |
| Non-recurring financial charges | 66B | €118,962 | €67,539 | -€51,423 | -43.2% |
| Profit (loss) for the period before taxes | 9903 | €2,033,423 | €1,385,873 | -€647,550 | -31.8% |
| Income taxes | 67/77 | €50,054 | €112,140 | +€62,085 | +124.0% |
| Taxes | 670/3 | €50,054 | €112,140 | +€62,085 | +124.0% |
| Profit (loss) for the period | 9904 | €1,983,369 | €1,273,733 | -€709,636 | -35.8% |
| Transfer from tax-exempt reserves | 789 | €0 | €67,360 | +€67,360 | |
| Transfer to tax-exempt reserves | 689 | - | €189,450 | +€189,450 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,983,369 | €1,151,643 | -€831,726 | -41.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.