IMMO GOLD: 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 GOLD
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€106,933
2024 · -€206,292+€99,359
Equity
€646,638
2024 · €753,571-€106,933
Cash
€34,298
2024 · €43,813-€9,515
Balance sheet total
€5.4m
2024 · €5.6m-€123,032
Largest movements
Assets
- Tangible fixed assets -€90,078
down €90,078 (-2.7%), from €3.4m to €3.3m
Equity and liabilities
- Debts after one year +€222,363
up €222,363 (+9.2%), from €2.4m to €2.6m
of which Financial debts: +€222,363
- Other debts -€201,412
down €201,412 (-28.9%), from €697,783 to €496,371
- Profit (loss) carried forward -€66,689
down €66,689 (-7.3%), from -€919,293 to -€985,982
- Tax, wage and social debts -€56,712
no longer reported in 2025 (was €56,712)
Income statement
- Depreciation -€152,539
down €152,539 (-62.9%), from €242,618 to €90,078
- Financial charges +€103,928
up €103,928 (+160%), from €65,025 to €168,953
- Gross operating margin +€31,715
up €31,715 (+24.2%), from €130,977 to €162,692
- Other operating charges -€20,739
down €20,739 (-45.4%), from €45,648 to €24,909
- Financial income -€3,267
no longer reported in 2025 (was €3,267)
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.
Result 2024
-€206,292
Gross operating margin
+€31,715
Depreciation
+€152,539
Other operating charges
+€20,739
Financial income
-€3,267
Financial charges
-€103,928
Taxes
-€1,689
Deferred taxes and other
+€3,248
Result 2025
-€106,933
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€270,543
Investment
€0
Financing
+€261,028
Cash 2024
€43,813
From operations (derived)
-€270,543
Net result for the year
-€106,933
Depreciation
+€90,078
Receivables within one year
+€23,439
Provisions
-€16,004
Trade debts
-€3,000
Tax, wage and social debts
-€56,712
Other debts
-€201,412
Financing
+€261,028
Debts after one year
+€222,363
Current portion of long-term debt
+€38,665
Cash 2025
€34,298
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,551,740 | €5,428,708 | -€123,032 | -2.2% |
| Fixed assets | 21/28 | €3,379,847 | €3,289,769 | -€90,078 | -2.7% |
| Tangible fixed assets | 22/27 | €3,379,847 | €3,289,769 | -€90,078 | -2.7% |
| Land and buildings | 22 | €3,379,847 | €3,289,769 | -€90,078 | -2.7% |
| Current assets | 29/58 | €2,171,893 | €2,138,939 | -€32,954 | -1.5% |
| Amounts receivable after more than one year | 29 | €1,018,828 | €1,018,828 | = | 0.0% |
| Trade receivables | 290 | €1,018,828 | €1,018,828 | = | 0.0% |
| Stocks and contracts in progress | 3 | €991,285 | €991,285 | = | 0.0% |
| Stocks | 30/36 | €991,285 | €991,285 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €117,967 | €94,528 | -€23,439 | -19.9% |
| Trade receivables | 40 | - | €1,056 | +€1,056 | |
| Other amounts receivable | 41 | €117,967 | €93,472 | -€24,495 | -20.8% |
| Cash at bank and in hand | 54/58 | €43,813 | €34,298 | -€9,515 | -21.7% |
| Total equity and liabilities | 10/49 | €5,551,740 | €5,428,708 | -€123,032 | -2.2% |
| Equity | 10/15 | €753,571 | €646,638 | -€106,933 | -14.2% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Revaluation surpluses | 12 | €21,681 | €12,906 | -€8,775 | -40.5% |
| Reserves | 13 | €1,502,446 | €1,470,978 | -€31,469 | -2.1% |
| Tax-exempt reserves | 132 | €1,205,897 | €1,165,653 | -€40,244 | -3.3% |
| Distributable reserves | 133 | €296,550 | €305,325 | +€8,775 | +3.0% |
| Profit (loss) carried forward | 14 | -€919,293 | -€985,982 | -€66,689 | -7.3% |
| Provisions and deferred taxes | 16 | €464,939 | €448,935 | -€16,004 | -3.4% |
| Deferred taxes | 168 | €464,939 | €448,935 | -€16,004 | -3.4% |
| Amounts payable | 17/49 | €4,333,231 | €4,333,135 | -€95 | 0.0% |
| Amounts payable after more than one year | 17 | €2,407,019 | €2,629,382 | +€222,363 | +9.2% |
| Financial debts | 170/4 | €2,404,469 | €2,626,832 | +€222,363 | +9.2% |
| Other amounts payable | 178/9 | €2,550 | €2,550 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,926,211 | €1,703,753 | -€222,459 | -11.5% |
| Current portion of amounts payable after more than one year | 42 | €147,717 | €186,382 | +€38,665 | +26.2% |
| Financial debts | 43 | €1,021,000 | €1,021,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,021,000 | €1,021,000 | = | 0.0% |
| Trade debts | 44 | €3,000 | - | -€3,000 | |
| Suppliers | 440/4 | €3,000 | - | -€3,000 | |
| Taxes, remuneration and social security | 45 | €56,712 | - | -€56,712 | |
| Taxes | 450/3 | €56,712 | - | -€56,712 | |
| Other amounts payable | 47/48 | €697,783 | €496,371 | -€201,412 | -28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €242,618 | €90,078 | -€152,539 | -62.9% |
| Other operating charges | 640/8 | €45,648 | €24,909 | -€20,739 | -45.4% |
| Gross operating margin | 9900 | €130,977 | €162,692 | +€31,715 | +24.2% |
| Operating profit (loss) | 9901 | -€157,289 | €47,705 | +€204,993 | |
| Financial income | 75/76B | €3,267 | - | -€3,267 | |
| Recurring financial income | 75 | €3,267 | - | -€3,267 | |
| Financial charges | 65/66B | €65,025 | €168,953 | +€103,928 | +160% |
| Recurring financial charges | 65 | €65,025 | €168,953 | +€103,928 | +160% |
| Profit (loss) for the period before taxes | 9903 | -€219,047 | -€121,249 | +€97,799 | +44.6% |
| Transfer from deferred taxes | 780 | €12,756 | €16,004 | +€3,248 | +25.5% |
| Income taxes | 67/77 | - | €1,689 | +€1,689 | |
| Profit (loss) for the period | 9904 | -€206,292 | -€106,933 | +€99,359 | +48.2% |
| Transfer from tax-exempt reserves | 789 | €27,251 | €40,244 | +€12,993 | +47.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€179,040 | -€66,689 | +€112,352 | +62.8% |
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 19 October 2026 via checked.be.