IMMO 21: 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.
IMMO 21
Largest movements
- Cash -€98,267
down €98,267 (-36.7%), from €267,551 to €169,284
mainly Receivables within one year (-€50,895) and Current portion of long-term debt (-€30,150)
- Receivables within one year +€50,895
up €50,895 (+148.0%), from €34,388 to €85,283
of which Trade receivables: +€42,389
- Current portion of long-term debt -€30,150
no longer reported in 2025 (was €30,150)
- Tax, wage and social debts -€15,057
down €15,057 (-33.8%), from €44,548 to €29,491
of which Taxes: -€12,073
- Other debts -€13,909
down €13,909 (-6.3%), from €219,981 to €206,072
- Profit (loss) carried forward +€8,075
up €8,075 (+61.2%), from €13,184 to €21,259
- Gross operating margin -€73,406
down €73,406 (-43.6%), from €168,344 to €94,939
- Taxes -€15,600
down €15,600 (-81.7%), from €19,093 to €3,494
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 | €317,746 | €268,734 | -€49,012 | -15.4% |
| Fixed assets | 21/28 | €14,013 | €11,692 | -€2,321 | -16.6% |
| Tangible fixed assets | 22/27 | €14,013 | €11,692 | -€2,321 | -16.6% |
| Plant, machinery and equipment | 23 | €10,878 | €9,461 | -€1,417 | -13.0% |
| Furniture and vehicles | 24 | €3,135 | €2,231 | -€904 | -28.8% |
| Current assets | 29/58 | €303,733 | €257,042 | -€46,691 | -15.4% |
| Amounts receivable within one year | 40/41 | €34,388 | €85,283 | +€50,895 | +148.0% |
| Trade receivables | 40 | €34,388 | €76,777 | +€42,389 | +123.3% |
| Other amounts receivable | 41 | - | €8,506 | +€8,506 | |
| Cash at bank and in hand | 54/58 | €267,551 | €169,284 | -€98,267 | -36.7% |
| Deferred charges and accrued income | 490/1 | €1,794 | €2,475 | +€681 | +38.0% |
| Total equity and liabilities | 10/49 | €317,746 | €268,734 | -€49,012 | -15.4% |
| Equity | 10/15 | €18,184 | €26,259 | +€8,075 | +44.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,184 | €21,259 | +€8,075 | +61.2% |
| Amounts payable | 17/49 | €299,562 | €242,475 | -€57,087 | -19.1% |
| Amounts payable within one year | 42/48 | €299,562 | €242,475 | -€57,087 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €30,150 | - | -€30,150 | |
| Trade debts | 44 | €4,884 | €6,912 | +€2,029 | +41.5% |
| Suppliers | 440/4 | €4,884 | €6,912 | +€2,029 | +41.5% |
| Taxes, remuneration and social security | 45 | €44,548 | €29,491 | -€15,057 | -33.8% |
| Taxes | 450/3 | €24,194 | €12,121 | -€12,073 | -49.9% |
| Remuneration and social security | 454/9 | €20,354 | €17,371 | -€2,983 | -14.7% |
| Other amounts payable | 47/48 | €219,981 | €206,072 | -€13,909 | -6.3% |
| Remuneration, social security and pensions | 62 | €76,770 | €76,180 | -€589 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,708 | €2,321 | -€387 | -14.3% |
| Other operating charges | 640/8 | €2,022 | €2,870 | +€848 | +41.9% |
| Non-recurring operating charges | 66A | - | €572 | +€572 | |
| Gross operating margin | 9900 | €168,344 | €94,939 | -€73,406 | -43.6% |
| Operating profit (loss) | 9901 | €86,845 | €12,997 | -€73,848 | -85.0% |
| Financial income | 75/76B | €260 | €0 | -€260 | -100.0% |
| Recurring financial income | 75 | €260 | €0 | -€260 | -100.0% |
| Financial charges | 65/66B | €1,250 | €1,428 | +€178 | +14.3% |
| Recurring financial charges | 65 | €1,250 | €1,428 | +€178 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | €85,855 | €11,569 | -€74,286 | -86.5% |
| Income taxes | 67/77 | €19,093 | €3,494 | -€15,600 | -81.7% |
| Profit (loss) for the period | 9904 | €66,762 | €8,075 | -€58,687 | -87.9% |
| Profit (loss) for the period to be appropriated | 9905 | €66,762 | €8,075 | -€58,687 | -87.9% |
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.