IMMO GLAM: 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 GLAM
Largest movements
- Stocks and contracts +€511,333
up €511,333 (+54.9%), from €931,705 to €1.4m
- Debts after one year +€481,150
up €481,150 (+49.5%), from €972,027 to €1.5m
of which Financial debts: +€481,150
- Other debts +€60,040
up €60,040 (+35.5%), from €169,181 to €229,221
- Profit (loss) carried forward -€57,802
down €57,802 (-58.8%), from -€98,284 to -€156,086
- Trade debts +€39,051
new in 2025: €39,051
- Gross operating margin -€39,592
down €39,592, from €25,034 to -€14,558
- Financial charges +€2,110
up €2,110 (+5.2%), from €40,933 to €43,043
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 | €1,072,870 | €1,595,309 | +€522,439 | +48.7% |
| Fixed assets | 21/28 | €121,617 | €123,071 | +€1,454 | +1.2% |
| Tangible fixed assets | 22/27 | €121,617 | €123,071 | +€1,454 | +1.2% |
| Land and buildings | 22 | €121,617 | €121,617 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €1,454 | +€1,454 | |
| Current assets | 29/58 | €951,253 | €1,472,238 | +€520,985 | +54.8% |
| Stocks and contracts in progress | 3 | €931,705 | €1,443,038 | +€511,333 | +54.9% |
| Stocks | 30/36 | €931,705 | €1,443,038 | +€511,333 | +54.9% |
| Amounts receivable within one year | 40/41 | €874 | €701 | -€173 | -19.8% |
| Trade receivables | 40 | €210 | - | -€210 | |
| Other amounts receivable | 41 | €664 | €701 | +€37 | +5.6% |
| Current investments | 50/53 | €42 | €15 | -€27 | -64.2% |
| Cash at bank and in hand | 54/58 | €18,133 | €27,984 | +€9,851 | +54.3% |
| Deferred charges and accrued income | 490/1 | €500 | €500 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,072,870 | €1,595,309 | +€522,439 | +48.7% |
| Equity | 10/15 | -€68,338 | -€126,139 | -€57,802 | -84.6% |
| Contributions | 10/11 | €29,946 | €29,946 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,284 | -€156,086 | -€57,802 | -58.8% |
| Amounts payable | 17/49 | €1,141,208 | €1,721,449 | +€580,241 | +50.8% |
| Amounts payable after more than one year | 17 | €972,027 | €1,453,178 | +€481,150 | +49.5% |
| Financial debts | 170/4 | €957,027 | €1,438,178 | +€481,150 | +50.3% |
| Other amounts payable | 178/9 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €169,181 | €268,271 | +€99,091 | +58.6% |
| Trade debts | 44 | - | €39,051 | +€39,051 | |
| Suppliers | 440/4 | - | €39,051 | +€39,051 | |
| Other amounts payable | 47/48 | €169,181 | €229,221 | +€60,040 | +35.5% |
| Non-recurring operating income | 76A | - | €156 | +€156 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €202 | +€202 | |
| Other operating charges | 640/8 | €25 | - | -€25 | |
| Gross operating margin | 9900 | €25,034 | -€14,558 | -€39,592 | |
| Operating profit (loss) | 9901 | €25,009 | -€14,760 | -€39,770 | |
| Financial income | 75/76B | €7 | €2 | -€5 | -72.4% |
| Recurring financial income | 75 | €7 | €2 | -€5 | -72.4% |
| Financial charges | 65/66B | €40,933 | €43,043 | +€2,110 | +5.2% |
| Recurring financial charges | 65 | €40,933 | €43,043 | +€2,110 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | -€15,917 | -€57,801 | -€41,884 | -263.1% |
| Income taxes | 67/77 | -€44 | €1 | +€44 | |
| Profit (loss) for the period | 9904 | -€15,874 | -€57,802 | -€41,928 | -264.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,874 | -€57,802 | -€41,928 | -264.1% |
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 12 October 2026 via checked.be.