IMMO 45: 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.
IMMO 45
Largest movements
- Cash -€21,954
down €21,954 (-64.2%), from €34,206 to €12,252
mainly Tax, wage and social debts (-€21,329) and Debts after one year (-€3,167)
- Tangible fixed assets -€3,004
down €3,004 (-75.1%), from €3,998 to €994
- Receivables within one year +€1,652
up €1,652 (+3.3%), from €49,924 to €51,576
- Tax, wage and social debts -€21,329
no longer reported in 2025 (was €21,329)
- Debts after one year -€3,167
down €3,167 (-52.4%), from €6,045 to €2,878
- Profit (loss) carried forward +€1,110
up €1,110 (+2.2%), from €51,260 to €52,370
- Taxes -€6,547
down €6,547, from €171 to -€6,377
- Gross operating margin +€4,369
up €4,369 (+69.8%), from -€6,264 to -€1,894
- Financial income -€550
down €550 (-25.0%), from €2,200 to €1,650
- Financial charges -€233
down €233 (-81.2%), from €287 to €54
- Other operating charges +€206
up €206 (+27.0%), from €764 to €970
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 | €88,128 | €64,823 | -€23,306 | -26.4% |
| Fixed assets | 21/28 | €3,998 | €994 | -€3,004 | -75.1% |
| Tangible fixed assets | 22/27 | €3,998 | €994 | -€3,004 | -75.1% |
| Furniture and vehicles | 24 | €3,998 | €994 | -€3,004 | -75.1% |
| Current assets | 29/58 | €84,130 | €63,829 | -€20,302 | -24.1% |
| Amounts receivable within one year | 40/41 | €49,924 | €51,576 | +€1,652 | +3.3% |
| Other amounts receivable | 41 | €49,924 | €51,576 | +€1,652 | +3.3% |
| Cash at bank and in hand | 54/58 | €34,206 | €12,252 | -€21,954 | -64.2% |
| Total equity and liabilities | 10/49 | €88,128 | €64,823 | -€23,306 | -26.4% |
| Equity | 10/15 | €57,460 | €58,570 | +€1,110 | +1.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €6,200 | - | -€6,200 | |
| Outside capital | 11 | - | €6,200 | +€6,200 | |
| Share premium | 1100/10 | - | €6,200 | +€6,200 | |
| Profit (loss) carried forward | 14 | €51,260 | €52,370 | +€1,110 | +2.2% |
| Amounts payable | 17/49 | €30,669 | €6,253 | -€24,416 | -79.6% |
| Amounts payable after more than one year | 17 | €6,045 | €2,878 | -€3,167 | -52.4% |
| Financial debts | 170/4 | €6,045 | €2,878 | -€3,167 | -52.4% |
| Amounts payable within one year | 42/48 | €24,624 | €3,375 | -€21,249 | -86.3% |
| Current portion of amounts payable after more than one year | 42 | €2,907 | €2,988 | +€80 | +2.8% |
| Trade debts | 44 | €387 | €387 | = | 0.0% |
| Suppliers | 440/4 | €387 | €387 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €21,329 | - | -€21,329 | |
| Taxes | 450/3 | €21,329 | - | -€21,329 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,042 | €3,998 | -€44 | -1.1% |
| Other operating charges | 640/8 | €764 | €970 | +€206 | +27.0% |
| Gross operating margin | 9900 | -€6,264 | -€1,894 | +€4,369 | +69.8% |
| Operating profit (loss) | 9901 | -€11,070 | -€6,862 | +€4,207 | +38.0% |
| Financial income | 75/76B | €2,200 | €1,650 | -€550 | -25.0% |
| Recurring financial income | 75 | €2,200 | €1,650 | -€550 | -25.0% |
| Financial charges | 65/66B | €287 | €54 | -€233 | -81.2% |
| Recurring financial charges | 65 | €287 | €54 | -€233 | -81.2% |
| Profit (loss) for the period before taxes | 9903 | -€9,156 | -€5,266 | +€3,890 | +42.5% |
| Income taxes | 67/77 | €171 | -€6,377 | -€6,547 | |
| Profit (loss) for the period | 9904 | -€9,327 | €1,110 | +€10,438 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,327 | €1,110 | +€10,438 |
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 7 October 2026 via checked.be.