IMMO FLAM: 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 FLAM
Largest movements
- Tangible fixed assets +€327,207
up €327,207 (+44.4%), from €737,322 to €1.1m
of which Assets under construction and advance payments: +€316,785
- Current investments -€180,000
no longer reported in 2025 (was €180,000)
- Cash +€133,790
up €133,790 (+429%), from €31,164 to €164,954
mainly Debts after one year (+€306,276) and Current investments (+€180,000)
- Receivables within one year -€32,303
down €32,303 (-89.4%), from €36,148 to €3,845
- Debts after one year +€306,276
up €306,276 (+187%), from €163,394 to €469,670
of which Financial debts: +€306,276
- Tax, wage and social debts -€45,889
no longer reported in 2025 (was €45,889)
- Depreciation +€7,801
up €7,801 (+21.2%), from €36,822 to €44,623
- Financial income +€7,037
up €7,037 (+277%), from €2,540 to €9,577
- Financial charges +€3,185
up €3,185 (+73.6%), from €4,329 to €7,514
- Gross operating margin +€632
up €632 (+1.9%), from €32,467 to €33,099
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 | €987,068 | €1,236,556 | +€249,487 | +25.3% |
| Fixed assets | 21/28 | €737,322 | €1,064,529 | +€327,207 | +44.4% |
| Tangible fixed assets | 22/27 | €737,322 | €1,064,529 | +€327,207 | +44.4% |
| Land and buildings | 22 | €737,322 | €746,962 | +€9,640 | +1.3% |
| Furniture and vehicles | 24 | - | €782 | +€782 | |
| Assets under construction and advance payments | 27 | - | €316,785 | +€316,785 | |
| Current assets | 29/58 | €249,746 | €172,026 | -€77,720 | -31.1% |
| Amounts receivable within one year | 40/41 | €36,148 | €3,845 | -€32,303 | -89.4% |
| Other amounts receivable | 41 | €36,148 | €3,845 | -€32,303 | -89.4% |
| Current investments | 50/53 | €180,000 | - | -€180,000 | |
| Cash at bank and in hand | 54/58 | €31,164 | €164,954 | +€133,790 | +429% |
| Deferred charges and accrued income | 490/1 | €2,435 | €3,227 | +€793 | +32.6% |
| Total equity and liabilities | 10/49 | €987,068 | €1,236,556 | +€249,487 | +25.3% |
| Equity | 10/15 | €732,750 | €716,517 | -€16,233 | -2.2% |
| Contributions | 10/11 | €298,000 | €298,000 | = | 0.0% |
| Capital | 10 | €298,000 | €298,000 | = | 0.0% |
| Issued capital | 100 | €298,000 | €298,000 | = | 0.0% |
| Reserves | 13 | €406,765 | €402,909 | -€3,856 | -0.9% |
| Non-distributable reserves | 130/1 | €24,859 | €24,859 | = | 0.0% |
| Legal reserve | 130 | €24,859 | €24,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €62,512 | €58,656 | -€3,856 | -6.2% |
| Distributable reserves | 133 | €319,394 | €319,394 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,556 | -€23,968 | -€10,412 | -76.8% |
| Investment grants | 15 | €41,540 | €39,576 | -€1,965 | -4.7% |
| Amounts payable | 17/49 | €254,319 | €520,039 | +€265,720 | +104% |
| Amounts payable after more than one year | 17 | €163,394 | €469,670 | +€306,276 | +187% |
| Financial debts | 170/4 | €160,434 | €466,710 | +€306,276 | +191% |
| Other amounts payable | 178/9 | €2,960 | €2,960 | = | 0.0% |
| Amounts payable within one year | 42/48 | €89,094 | €45,147 | -€43,947 | -49.3% |
| Current portion of amounts payable after more than one year | 42 | €43,134 | €43,724 | +€590 | +1.4% |
| Trade debts | 44 | €72 | €1,423 | +€1,352 | +1,886% |
| Suppliers | 440/4 | €72 | €1,423 | +€1,352 | +1,886% |
| Taxes, remuneration and social security | 45 | €45,889 | - | -€45,889 | |
| Taxes | 450/3 | €45,889 | - | -€45,889 | |
| Accrued charges and deferred income | 492/3 | €1,831 | €5,222 | +€3,391 | +185% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,822 | €44,623 | +€7,801 | +21.2% |
| Other operating charges | 640/8 | €4,566 | €4,807 | +€240 | +5.3% |
| Gross operating margin | 9900 | €32,467 | €33,099 | +€632 | +1.9% |
| Operating profit (loss) | 9901 | -€8,922 | -€16,332 | -€7,410 | -83.0% |
| Financial income | 75/76B | €2,540 | €9,577 | +€7,037 | +277% |
| Recurring financial income | 75 | €2,540 | €9,577 | +€7,037 | +277% |
| Financial charges | 65/66B | €4,329 | €7,514 | +€3,185 | +73.6% |
| Recurring financial charges | 65 | €4,329 | €7,514 | +€3,185 | +73.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,711 | -€14,268 | -€3,557 | -33.2% |
| Profit (loss) for the period | 9904 | -€10,711 | -€14,268 | -€3,557 | -33.2% |
| Transfer from tax-exempt reserves | 789 | €3,856 | €3,856 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,855 | -€10,412 | -€3,557 | -51.9% |
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 20 October 2026 via checked.be.