IMMO FOMAL: 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 FOMAL
Largest movements
- Stocks and contracts -€127,466
down €127,466 (-37.8%), from €337,034 to €209,568
- Cash +€15,739
up €15,739 (+34.8%), from €45,241 to €60,980
mainly Stocks and contracts (+€127,466) and Depreciation (+€57,132)
- Debts after one year -€183,645
down €183,645 (-32.8%), from €560,460 to €376,815
of which Financial debts: -€183,645
- Trade debts +€31,894
up €31,894 (+23.6%), from €135,120 to €167,014
- Profit (loss) carried forward +€16,093
up €16,093, from -€16,093 to €0
- Reserves +€16,032
up €16,032 (+6.2%), from €260,015 to €276,047
of which Distributable reserves: +€32,038
- Gross operating margin +€35,236
up €35,236 (+30.4%), from €115,896 to €151,132
- Taxes +€13,193
up €13,193 (+151.7%), from €8,698 to €21,891
- Financial charges +€4,316
up €4,316 (+20.1%), from €21,425 to €25,741
- Depreciation -€3,650
down €3,650 (-6.0%), from €60,782 to €57,132
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 | €1,567,339 | €1,453,556 | -€113,783 | -7.3% |
| Fixed assets | 21/28 | €1,180,861 | €1,168,664 | -€12,197 | -1.0% |
| Tangible fixed assets | 22/27 | €1,180,861 | €1,168,664 | -€12,197 | -1.0% |
| Land and buildings | 22 | €1,164,211 | €1,153,344 | -€10,867 | -0.9% |
| Furniture and vehicles | 24 | €9,596 | €8,265 | -€1,331 | -13.9% |
| Other tangible fixed assets | 26 | €7,054 | €7,054 | = | 0.0% |
| Current assets | 29/58 | €386,477 | €284,892 | -€101,585 | -26.3% |
| Stocks and contracts in progress | 3 | €337,034 | €209,568 | -€127,466 | -37.8% |
| Stocks | 30/36 | €337,034 | €209,568 | -€127,466 | -37.8% |
| Amounts receivable within one year | 40/41 | €2,448 | €12,750 | +€10,302 | +420.8% |
| Trade receivables | 40 | €511 | €10,230 | +€9,719 | +1903.7% |
| Other amounts receivable | 41 | €1,938 | €2,521 | +€583 | +30.1% |
| Cash at bank and in hand | 54/58 | €45,241 | €60,980 | +€15,739 | +34.8% |
| Deferred charges and accrued income | 490/1 | €1,754 | €1,594 | -€160 | -9.1% |
| Total equity and liabilities | 10/49 | €1,567,339 | €1,453,556 | -€113,783 | -7.3% |
| Equity | 10/15 | €579,033 | €611,158 | +€32,125 | +5.5% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Revaluation surpluses | 12 | €35,111 | €35,111 | = | 0.0% |
| Reserves | 13 | €260,015 | €276,047 | +€16,032 | +6.2% |
| Tax-exempt reserves | 132 | €204,784 | €188,778 | -€16,006 | -7.8% |
| Distributable reserves | 133 | €55,231 | €87,269 | +€32,038 | +58.0% |
| Profit (loss) carried forward | 14 | -€16,093 | €0 | +€16,093 | |
| Provisions and deferred taxes | 16 | €68,262 | €62,926 | -€5,335 | -7.8% |
| Deferred taxes | 168 | €68,262 | €62,926 | -€5,335 | -7.8% |
| Amounts payable | 17/49 | €920,044 | €779,471 | -€140,573 | -15.3% |
| Amounts payable after more than one year | 17 | €560,460 | €376,815 | -€183,645 | -32.8% |
| Financial debts | 170/4 | €560,210 | €376,566 | -€183,645 | -32.8% |
| Other amounts payable | 178/9 | €249 | €249 | = | 0.0% |
| Amounts payable within one year | 42/48 | €349,650 | €390,483 | +€40,833 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €32,957 | €33,645 | +€687 | +2.1% |
| Trade debts | 44 | €135,120 | €167,014 | +€31,894 | +23.6% |
| Suppliers | 440/4 | €135,120 | €167,014 | +€31,894 | +23.6% |
| Taxes, remuneration and social security | 45 | €13,192 | €21,891 | +€8,699 | +65.9% |
| Taxes | 450/3 | €13,192 | €21,891 | +€8,699 | +65.9% |
| Other amounts payable | 47/48 | €168,380 | €167,933 | -€447 | -0.3% |
| Accrued charges and deferred income | 492/3 | €9,935 | €12,173 | +€2,238 | +22.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,782 | €57,132 | -€3,650 | -6.0% |
| Other operating charges | 640/8 | €19,285 | €20,150 | +€865 | +4.5% |
| Gross operating margin | 9900 | €115,896 | €151,132 | +€35,236 | +30.4% |
| Operating profit (loss) | 9901 | €35,829 | €73,850 | +€38,021 | +106.1% |
| Financial income | 75/76B | €0 | €572 | +€572 | |
| Recurring financial income | 75 | €0 | €572 | +€572 | |
| Financial charges | 65/66B | €21,425 | €25,741 | +€4,316 | +20.1% |
| Recurring financial charges | 65 | €21,425 | €25,741 | +€4,316 | +20.1% |
| Profit (loss) for the period before taxes | 9903 | €14,404 | €48,681 | +€34,277 | +238.0% |
| Transfer from deferred taxes | 780 | €5,086 | €5,335 | +€250 | +4.9% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €8,698 | €21,891 | +€13,193 | +151.7% |
| Profit (loss) for the period | 9904 | €10,791 | €32,125 | +€21,334 | +197.7% |
| Transfer from tax-exempt reserves | 789 | €15,258 | €16,006 | +€748 | +4.9% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €26,049 | €48,131 | +€22,082 | +84.8% |
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 9 October 2026 via checked.be.