IMMO ARMOR: 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 ARMOR
Largest movements
- Tangible fixed assets -€3,214
down €3,214 (-3.8%), from €85,496 to €82,282
of which Land and buildings: -€3,214
- Deferred charges and accrued income +€1,736
new in 2025: €1,736
- Other debts +€13,571
up €13,571 (+7.8%), from €173,327 to €186,898
- Profit (loss) carried forward -€10,153
down €10,153 (-8.7%), from -€116,039 to -€126,192
- Trade debts -€4,789
down €4,789 (-73.0%), from €6,562 to €1,773
- Gross operating margin +€10,779
up €10,779 (+86.0%), from -€12,531 to -€1,752
- Financial charges +€4,375
up €4,375 (+6928.4%), from €63 to €4,438
- Other operating charges -€2,043
down €2,043 (-75.0%), from €2,725 to €681
- Depreciation -€383
down €383 (-10.6%), from €3,597 to €3,214
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 | €85,664 | €84,292 | -€1,371 | -1.6% |
| Fixed assets | 21/28 | €85,496 | €82,282 | -€3,214 | -3.8% |
| Tangible fixed assets | 22/27 | €85,496 | €82,282 | -€3,214 | -3.8% |
| Land and buildings | 22 | €85,114 | €81,900 | -€3,214 | -3.8% |
| Plant, machinery and equipment | 23 | €383 | €383 | = | 0.0% |
| Current assets | 29/58 | €167 | €2,010 | +€1,843 | +1103.1% |
| Cash at bank and in hand | 54/58 | €167 | €274 | +€107 | +64.1% |
| Deferred charges and accrued income | 490/1 | - | €1,736 | +€1,736 | |
| Total equity and liabilities | 10/49 | €85,664 | €84,292 | -€1,371 | -1.6% |
| Equity | 10/15 | -€94,226 | -€104,379 | -€10,153 | -10.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €3,221 | €3,221 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,362 | €1,362 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€116,039 | -€126,192 | -€10,153 | -8.7% |
| Amounts payable | 17/49 | €179,890 | €188,671 | +€8,782 | +4.9% |
| Amounts payable within one year | 42/48 | €179,890 | €188,671 | +€8,782 | +4.9% |
| Trade debts | 44 | €6,562 | €1,773 | -€4,789 | -73.0% |
| Suppliers | 440/4 | €6,562 | €1,773 | -€4,789 | -73.0% |
| Other amounts payable | 47/48 | €173,327 | €186,898 | +€13,571 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,597 | €3,214 | -€383 | -10.6% |
| Other operating charges | 640/8 | €2,725 | €681 | -€2,043 | -75.0% |
| Non-recurring operating charges | 66A | - | €67 | +€67 | |
| Gross operating margin | 9900 | -€12,531 | -€1,752 | +€10,779 | +86.0% |
| Operating profit (loss) | 9901 | -€18,852 | -€5,714 | +€13,138 | +69.7% |
| Financial charges | 65/66B | €63 | €4,438 | +€4,375 | +6928.4% |
| Recurring financial charges | 65 | €63 | €4,438 | +€4,375 | +6928.4% |
| Profit (loss) for the period before taxes | 9903 | -€18,915 | -€10,153 | +€8,763 | +46.3% |
| Profit (loss) for the period | 9904 | -€18,915 | -€10,153 | +€8,763 | +46.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,915 | -€10,153 | +€8,763 | +46.3% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.