IMMO-5 Expert Associate: 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-5 Expert Associate
Largest movements
- Receivables within one year +€25,956
up €25,956 (+241.7%), from €10,740 to €36,696
of which Trade receivables: +€17,231
- Intangible fixed assets -€1,565
no longer reported in 2025 (was €1,565)
- Other debts +€23,356
up €23,356 (+383.3%), from €6,094 to €29,450
- Tax, wage and social debts +€15,029
up €15,029 (+390.5%), from €3,849 to €18,878
- Current portion of long-term debt -€13,067
no longer reported in 2025 (was €13,067)
- Reserves -€4,200
down €4,200 (-9.3%), from €45,100 to €40,900
of which Distributable reserves: -€4,200
- Trade debts +€2,087
up €2,087 (+98.0%), from €2,129 to €4,216
- Gross operating margin +€37,050
up €37,050 (+862.8%), from €4,294 to €41,344
- Taxes +€10,727
up €10,727 (+4569.8%), from €235 to €10,962
- Depreciation -€8,273
down €8,273 (-77.2%), from €10,721 to €2,449
- Financial income +€2,083
up €2,083 (+762.9%), from €273 to €2,356
- Financial charges +€946
up €946 (+176.5%), from €536 to €1,482
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 | €107,593 | €130,822 | +€23,229 | +21.6% |
| Fixed assets | 21/28 | €3,953 | €602 | -€3,351 | -84.8% |
| Intangible fixed assets | 21 | €1,565 | - | -€1,565 | |
| Tangible fixed assets | 22/27 | €1,486 | €602 | -€884 | -59.5% |
| Furniture and vehicles | 24 | €1,486 | €602 | -€884 | -59.5% |
| Financial fixed assets | 28 | €902 | - | -€902 | |
| Current assets | 29/58 | €103,640 | €130,219 | +€26,580 | +25.6% |
| Amounts receivable within one year | 40/41 | €10,740 | €36,696 | +€25,956 | +241.7% |
| Trade receivables | 40 | €2,891 | €20,121 | +€17,231 | +596.1% |
| Other amounts receivable | 41 | €7,849 | €16,574 | +€8,725 | +111.2% |
| Cash at bank and in hand | 54/58 | €34,154 | €33,488 | -€666 | -1.9% |
| Deferred charges and accrued income | 490/1 | €58,746 | €60,036 | +€1,290 | +2.2% |
| Total equity and liabilities | 10/49 | €107,593 | €130,822 | +€23,229 | +21.6% |
| Equity | 10/15 | €82,453 | €78,277 | -€4,176 | -5.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €45,100 | €40,900 | -€4,200 | -9.3% |
| Tax-exempt reserves | 132 | €3,800 | €3,800 | = | 0.0% |
| Distributable reserves | 133 | €41,300 | €37,100 | -€4,200 | -10.2% |
| Profit (loss) carried forward | 14 | €17,353 | €17,377 | +€24 | +0.1% |
| Amounts payable | 17/49 | €25,139 | €52,544 | +€27,405 | +109.0% |
| Amounts payable within one year | 42/48 | €25,139 | €52,544 | +€27,405 | +109.0% |
| Current portion of amounts payable after more than one year | 42 | €13,067 | - | -€13,067 | |
| Trade debts | 44 | €2,129 | €4,216 | +€2,087 | +98.0% |
| Suppliers | 440/4 | €2,129 | €4,216 | +€2,087 | +98.0% |
| Taxes, remuneration and social security | 45 | €3,849 | €18,878 | +€15,029 | +390.5% |
| Taxes | 450/3 | €3,849 | €18,878 | +€15,029 | +390.5% |
| Other amounts payable | 47/48 | €6,094 | €29,450 | +€23,356 | +383.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,721 | €2,449 | -€8,273 | -77.2% |
| Other operating charges | 640/8 | €1,127 | €1,081 | -€47 | -4.1% |
| Non-recurring operating charges | 66A | - | €902 | +€902 | |
| Gross operating margin | 9900 | €4,294 | €41,344 | +€37,050 | +862.8% |
| Operating profit (loss) | 9901 | -€7,554 | €36,912 | +€44,467 | |
| Financial income | 75/76B | €273 | €2,356 | +€2,083 | +762.9% |
| Recurring financial income | 75 | €273 | €2,356 | +€2,083 | +762.9% |
| Financial charges | 65/66B | €536 | €1,482 | +€946 | +176.5% |
| Recurring financial charges | 65 | €536 | €1,482 | +€946 | +176.5% |
| Profit (loss) for the period before taxes | 9903 | -€7,817 | €37,786 | +€45,603 | |
| Income taxes | 67/77 | €235 | €10,962 | +€10,727 | +4569.8% |
| Profit (loss) for the period | 9904 | -€8,052 | €26,824 | +€34,876 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,052 | €26,824 | +€34,876 |
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 8 October 2026 via checked.be.