IMMO - ARMA: 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 - ARMA
Largest movements
- Cash +€383,273
up €383,273 (+741.0%), from €51,725 to €434,998
mainly Net result for the year (+€234,552) and Tax, wage and social debts (+€83,218)
- Tangible fixed assets -€67,067
down €67,067 (-95.2%), from €70,441 to €3,374
of which Land and buildings: -€66,978
- Reserves +€132,042
up €132,042 (+73.4%), from €180,000 to €312,042
of which Distributable reserves: +€125,440
- Profit (loss) carried forward +€102,510
up €102,510, from -€102,510 to €0
- Tax, wage and social debts +€83,218
new in 2025: €83,218
- Gross operating margin +€325,968
up €325,968, from -€7,067 to €318,901
- Taxes +€83,218
up €83,218, from €0 to €83,218
- Financial charges +€14,629
up €14,629, from -€14,587 to €42
- Depreciation -€10,762
down €10,762 (-100.0%), from €10,762 to €0
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 | €502,490 | €820,261 | +€317,771 | +63.2% |
| Fixed assets | 21/28 | €70,460 | €3,393 | -€67,067 | -95.2% |
| Tangible fixed assets | 22/27 | €70,441 | €3,374 | -€67,067 | -95.2% |
| Land and buildings | 22 | €70,353 | €3,374 | -€66,978 | -95.2% |
| Plant, machinery and equipment | 23 | €89 | €0 | -€89 | -100.0% |
| Financial fixed assets | 28 | €19 | €19 | = | 0.0% |
| Current assets | 29/58 | €432,030 | €816,867 | +€384,837 | +89.1% |
| Amounts receivable within one year | 40/41 | €34,288 | €36,198 | +€1,910 | +5.6% |
| Other amounts receivable | 41 | €34,288 | €36,198 | +€1,910 | +5.6% |
| Current investments | 50/53 | €345,671 | €345,671 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €51,725 | €434,998 | +€383,273 | +741.0% |
| Deferred charges and accrued income | 490/1 | €346 | €0 | -€345 | -99.9% |
| Total equity and liabilities | 10/49 | €502,490 | €820,261 | +€317,771 | +63.2% |
| Equity | 10/15 | €502,490 | €737,042 | +€234,552 | +46.7% |
| Contributions | 10/11 | €425,000 | €425,000 | = | 0.0% |
| Capital | 10 | €425,000 | €425,000 | = | 0.0% |
| Issued capital | 100 | €425,000 | €425,000 | = | 0.0% |
| Reserves | 13 | €180,000 | €312,042 | +€132,042 | +73.4% |
| Non-distributable reserves | 130/1 | - | €6,602 | +€6,602 | |
| Legal reserve | 130 | - | €6,602 | +€6,602 | |
| Distributable reserves | 133 | €180,000 | €305,440 | +€125,440 | +69.7% |
| Profit (loss) carried forward | 14 | -€102,510 | €0 | +€102,510 | |
| Amounts payable | 17/49 | - | €83,218 | +€83,218 | |
| Amounts payable within one year | 42/48 | - | €83,218 | +€83,218 | |
| Taxes, remuneration and social security | 45 | - | €83,218 | +€83,218 | |
| Taxes | 450/3 | - | €83,218 | +€83,218 | |
| Non-recurring operating income | 76A | - | €342,933 | +€342,933 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,762 | €0 | -€10,762 | -100.0% |
| Other operating charges | 640/8 | €2,801 | €2,998 | +€198 | +7.1% |
| Gross operating margin | 9900 | -€7,067 | €318,901 | +€325,968 | |
| Operating profit (loss) | 9901 | -€20,629 | €315,903 | +€336,532 | |
| Financial income | 75/76B | €2,017 | €1,910 | -€107 | -5.3% |
| Recurring financial income | 75 | €2,017 | €1,910 | -€107 | -5.3% |
| Financial charges | 65/66B | -€14,587 | €42 | +€14,629 | |
| Recurring financial charges | 65 | -€14,587 | €42 | +€14,629 | |
| Profit (loss) for the period before taxes | 9903 | -€4,025 | €317,771 | +€321,795 | |
| Income taxes | 67/77 | €0 | €83,218 | +€83,218 | |
| Profit (loss) for the period | 9904 | -€4,025 | €234,552 | +€238,577 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,025 | €234,552 | +€238,577 |
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 2 October 2026 via checked.be.