IMMO-BOVEN: 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-BOVEN
Largest movements
- Tangible fixed assets -€35,938
down €35,938 (-5.7%), from €635,314 to €599,376
of which Land and buildings: -€34,005
- Cash +€21,774
up €21,774 (+10.1%), from €216,516 to €238,290
mainly Tax, wage and social debts (+€276,563) and Depreciation (+€30,938)
- Tax, wage and social debts +€276,563
up €276,563 (+128%), from €215,724 to €492,287
- Provisions -€207,952
down €207,952 (-100%), from €207,952 to €0
- Reserves -€71,365
down €71,365 (-6.7%), from €1.1m to €992,170
of which Tax-exempt reserves: -€623,856
- Gross operating margin -€712,902
down €712,902 (-96.3%), from €740,237 to €27,335
- Taxes +€60,840
up €60,840 (+28.2%), from €215,724 to €276,563
- Depreciation -€13,265
down €13,265 (-30.0%), from €44,203 to €30,938
- Financial charges -€12,105
down €12,105 (-98.3%), from €12,313 to €207
- Other operating charges -€11,748
down €11,748 (-78.7%), from €14,926 to €3,178
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.
Derived cash bridge
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 | €1,551,696 | €1,548,664 | -€3,032 | -0.2% |
| Fixed assets | 21/28 | €635,314 | €599,376 | -€35,938 | -5.7% |
| Tangible fixed assets | 22/27 | €635,314 | €599,376 | -€35,938 | -5.7% |
| Land and buildings | 22 | €630,799 | €596,794 | -€34,005 | -5.4% |
| Plant, machinery and equipment | 23 | €713 | €30 | -€683 | -95.8% |
| Furniture and vehicles | 24 | €3,801 | €2,551 | -€1,250 | -32.9% |
| Current assets | 29/58 | €916,382 | €949,288 | +€32,906 | +3.6% |
| Amounts receivable within one year | 40/41 | €73,806 | €85,526 | +€11,719 | +15.9% |
| Trade receivables | 40 | €1,516 | €1,516 | = | 0.0% |
| Other amounts receivable | 41 | €72,291 | €84,010 | +€11,719 | +16.2% |
| Current investments | 50/53 | €625,293 | €625,293 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €216,516 | €238,290 | +€21,774 | +10.1% |
| Deferred charges and accrued income | 490/1 | €767 | €180 | -€587 | -76.5% |
| Total equity and liabilities | 10/49 | €1,551,696 | €1,548,664 | -€3,032 | -0.2% |
| Equity | 10/15 | €1,127,275 | €1,055,910 | -€71,365 | -6.3% |
| Contributions | 10/11 | €63,740 | €63,740 | = | 0.0% |
| Capital | 10 | €63,740 | €63,740 | = | 0.0% |
| Issued capital | 100 | €63,740 | €63,740 | = | 0.0% |
| Reserves | 13 | €1,063,535 | €992,170 | -€71,365 | -6.7% |
| Non-distributable reserves | 130/1 | €6,374 | €6,374 | = | 0.0% |
| Legal reserve | 130 | €6,374 | €6,374 | = | 0.0% |
| Tax-exempt reserves | 132 | €623,856 | €0 | -€623,856 | -100% |
| Distributable reserves | 133 | €433,304 | €985,796 | +€552,492 | +128% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €207,952 | €0 | -€207,952 | -100% |
| Deferred taxes | 168 | €207,952 | €0 | -€207,952 | -100% |
| Amounts payable | 17/49 | €216,469 | €492,754 | +€276,285 | +128% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €216,469 | €492,754 | +€276,285 | +128% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €352 | €124 | -€229 | -64.9% |
| Suppliers | 440/4 | €352 | €124 | -€229 | -64.9% |
| Taxes, remuneration and social security | 45 | €215,724 | €492,287 | +€276,563 | +128% |
| Taxes | 450/3 | €215,724 | €492,287 | +€276,563 | +128% |
| Other amounts payable | 47/48 | €393 | €343 | -€50 | -12.7% |
| Non-recurring operating income | 76A | €741,971 | €23,000 | -€718,971 | -96.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,203 | €30,938 | -€13,265 | -30.0% |
| Other operating charges | 640/8 | €14,926 | €3,178 | -€11,748 | -78.7% |
| Gross operating margin | 9900 | €740,237 | €27,335 | -€712,902 | -96.3% |
| Operating profit (loss) | 9901 | €681,108 | -€6,781 | -€687,889 | |
| Financial income | 75/76B | €4,039 | €4,235 | +€196 | +4.9% |
| Recurring financial income | 75 | €4,039 | €4,235 | +€196 | +4.9% |
| Financial charges | 65/66B | €12,313 | €207 | -€12,105 | -98.3% |
| Recurring financial charges | 65 | €12,313 | €207 | -€12,105 | -98.3% |
| Profit (loss) for the period before taxes | 9903 | €672,834 | -€2,754 | -€675,588 | |
| Transfer from deferred taxes | 780 | €9,458 | €207,952 | +€198,495 | +2,099% |
| Income taxes | 67/77 | €215,724 | €276,563 | +€60,840 | +28.2% |
| Profit (loss) for the period | 9904 | €466,568 | -€71,365 | -€537,933 | |
| Transfer from tax-exempt reserves | 789 | €28,373 | €623,856 | +€595,484 | +2,099% |
| Profit (loss) for the period to be appropriated | 9905 | €494,941 | €552,492 | +€57,551 | +11.6% |
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 14 October 2026 via checked.be.