IMMO FSM: 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.
What changed
IMMO FSM
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€5,743
2023 · €54,223-€48,480
Equity
€1.2m
2023 · €1.1m+€5,743
Cash
€15,628
2023 · €20,870-€5,242
Balance sheet total
€2.4m
2023 · €2.5m-€93,802
Largest movements
Assets
- Tangible fixed assets -€86,490
down €86,490 (-3.5%), from €2.5m to €2.4m
Equity and liabilities
- Other debts -€99,165
down €99,165 (-100%), from €99,165 to €0
- Trade debts -€46,162
down €46,162 (-98.7%), from €46,749 to €588
- Debts after one year +€38,209
up €38,209 (+3.8%), from €1.0m to €1.0m
Income statement
- Gross operating margin -€45,104
down €45,104 (-22.5%), from €200,407 to €155,303
- Other operating charges +€5,086
up €5,086 (+46.5%), from €10,931 to €16,017
- Financial charges -€2,286
down €2,286 (-4.8%), from €47,189 to €44,903
From the 2023 result to the 2024 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.
Result 2023
€54,223
Gross operating margin
-€45,104
Depreciation
-€357
Other operating charges
-€5,086
Financial income
-€1
Financial charges
+€2,286
Taxes
-€218
Result 2024
€5,743
raises the resultlowers the result
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€50,898
Investment
+€94
Financing
+€45,562
Cash 2023
€20,870
From operations (derived)
-€50,898
Net result for the year
+€5,743
Depreciation
+€86,490
Smaller working-capital items
+€75
Deferred charges and accrued income
+€2,120
Trade debts
-€46,162
Other debts
-€99,165
Investment (derived)
+€94
Current investments
+€94
Financing
+€45,562
Debts after one year
+€38,209
Current portion of long-term debt
+€7,354
Cash 2024
€15,628
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,481,503 | €2,387,701 | -€93,802 | -3.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,458,200 | €2,371,710 | -€86,490 | -3.5% |
| Tangible fixed assets | 22/27 | €2,455,171 | €2,368,682 | -€86,490 | -3.5% |
| Land and buildings | 22 | €2,455,171 | €2,368,682 | -€86,490 | -3.5% |
| Financial fixed assets | 28 | €3,028 | €3,028 | = | 0.0% |
| Current assets | 29/58 | €23,304 | €15,991 | -€7,313 | -31.4% |
| Amounts receivable within one year | 40/41 | €0 | €144 | +€144 | |
| Trade receivables | 40 | €0 | €144 | +€144 | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €313 | €219 | -€94 | -29.9% |
| Cash at bank and in hand | 54/58 | €20,870 | €15,628 | -€5,242 | -25.1% |
| Deferred charges and accrued income | 490/1 | €2,120 | €0 | -€2,120 | -100% |
| Total equity and liabilities | 10/49 | €2,481,503 | €2,387,701 | -€93,802 | -3.8% |
| Equity | 10/15 | €1,146,886 | €1,152,629 | +€5,743 | +0.5% |
| Contributions | 10/11 | €412,500 | €412,500 | = | 0.0% |
| Capital | 10 | €412,500 | €412,500 | = | 0.0% |
| Issued capital | 100 | €412,500 | €412,500 | = | 0.0% |
| Reserves | 13 | €41,250 | €41,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €41,250 | €41,250 | = | 0.0% |
| Legal reserve | 130 | €41,250 | €41,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €693,136 | €698,879 | +€5,743 | +0.8% |
| Amounts payable | 17/49 | €1,334,618 | €1,235,072 | -€99,546 | -7.5% |
| Amounts payable after more than one year | 17 | €1,007,506 | €1,045,715 | +€38,209 | +3.8% |
| Financial debts | 170/4 | €1,007,506 | €1,045,715 | +€38,209 | +3.8% |
| Amounts payable within one year | 42/48 | €327,111 | €189,357 | -€137,754 | -42.1% |
| Current portion of amounts payable after more than one year | 42 | €179,265 | €186,618 | +€7,354 | +4.1% |
| Trade debts | 44 | €46,749 | €588 | -€46,162 | -98.7% |
| Suppliers | 440/4 | €46,749 | €588 | -€46,162 | -98.7% |
| Taxes, remuneration and social security | 45 | €1,932 | €2,151 | +€219 | +11.3% |
| Taxes | 450/3 | €1,932 | €2,151 | +€219 | +11.3% |
| Other amounts payable | 47/48 | €99,165 | €0 | -€99,165 | -100% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,133 | €86,490 | +€357 | +0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €0 | = | |
| Other operating charges | 640/8 | €10,931 | €16,017 | +€5,086 | +46.5% |
| Gross operating margin | 9900 | €200,407 | €155,303 | -€45,104 | -22.5% |
| Operating profit (loss) | 9901 | €103,343 | €52,796 | -€50,547 | -48.9% |
| Financial income | 75/76B | €1 | €1 | -€1 | -44.6% |
| Recurring financial income | 75 | €1 | €1 | -€1 | -44.6% |
| Financial charges | 65/66B | €47,189 | €44,903 | -€2,286 | -4.8% |
| Recurring financial charges | 65 | €47,189 | €44,903 | -€2,286 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €56,156 | €7,894 | -€48,261 | -85.9% |
| Income taxes | 67/77 | €1,932 | €2,151 | +€218 | +11.3% |
| Profit (loss) for the period | 9904 | €54,223 | €5,743 | -€48,480 | -89.4% |
| Profit (loss) for the period to be appropriated | 9905 | €54,223 | €5,743 | -€48,480 | -89.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.