IMMO GRAY: 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 GRAY
Largest movements
- Financial fixed assets -€25,044
down €25,044 (-11.8%), from €213,030 to €187,986
- Tangible fixed assets -€14,178
down €14,178 (-3.8%), from €368,324 to €354,147
of which Land and buildings: -€14,178
- Other debts -€37,883
down €37,883 (-27.5%), from €137,951 to €100,068
- Profit (loss) carried forward +€14,550
up €14,550 (+8.0%), from €181,277 to €195,827
- Reserves -€13,533
down €13,533 (-5.9%), from €228,607 to €215,074
of which Tax-exempt reserves: -€13,533
- Provisions -€6,969
down €6,969 (-9.2%), from €75,475 to €68,506
- Gross operating margin +€5,136
up €5,136 (+70.0%), from €7,341 to €12,477
- Taxes +€1,004
up €1,004 (+22.8%), from €4,413 to €5,417
- Depreciation +€895
up €895 (+6.7%), from €13,283 to €14,178
- Financial income -€651
down €651 (-17.2%), from €3,778 to €3,127
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 | €689,472 | €650,933 | -€38,538 | -5.6% |
| Fixed assets | 21/28 | €581,355 | €542,133 | -€39,222 | -6.7% |
| Tangible fixed assets | 22/27 | €368,324 | €354,147 | -€14,178 | -3.8% |
| Land and buildings | 22 | €363,074 | €348,897 | -€14,178 | -3.9% |
| Other tangible fixed assets | 26 | €5,250 | €5,250 | = | 0.0% |
| Financial fixed assets | 28 | €213,030 | €187,986 | -€25,044 | -11.8% |
| Current assets | 29/58 | €108,117 | €108,800 | +€684 | +0.6% |
| Amounts receivable after more than one year | 29 | €64,000 | €64,000 | = | 0.0% |
| Other amounts receivable | 291 | €64,000 | €64,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €2,000 | +€2,000 | |
| Other amounts receivable | 41 | - | €2,000 | +€2,000 | |
| Cash at bank and in hand | 54/58 | €44,117 | €42,800 | -€1,316 | -3.0% |
| Total equity and liabilities | 10/49 | €689,472 | €650,933 | -€38,538 | -5.6% |
| Equity | 10/15 | €471,884 | €472,901 | +€1,017 | +0.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €228,607 | €215,074 | -€13,533 | -5.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €146,575 | €133,042 | -€13,533 | -9.2% |
| Distributable reserves | 133 | €75,832 | €75,832 | = | 0.0% |
| Profit (loss) carried forward | 14 | €181,277 | €195,827 | +€14,550 | +8.0% |
| Provisions and deferred taxes | 16 | €75,475 | €68,506 | -€6,969 | -9.2% |
| Deferred taxes | 168 | €75,475 | €68,506 | -€6,969 | -9.2% |
| Amounts payable | 17/49 | €142,113 | €109,526 | -€32,587 | -22.9% |
| Amounts payable within one year | 42/48 | €142,113 | €109,526 | -€32,587 | -22.9% |
| Taxes, remuneration and social security | 45 | €4,162 | €9,458 | +€5,297 | +127% |
| Taxes | 450/3 | €4,162 | €9,458 | +€5,297 | +127% |
| Other amounts payable | 47/48 | €137,951 | €100,068 | -€37,883 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,283 | €14,178 | +€895 | +6.7% |
| Other operating charges | 640/8 | €1,847 | €1,905 | +€58 | +3.1% |
| Gross operating margin | 9900 | €7,341 | €12,477 | +€5,136 | +70.0% |
| Operating profit (loss) | 9901 | -€7,789 | -€3,606 | +€4,183 | +53.7% |
| Financial income | 75/76B | €3,778 | €3,127 | -€651 | -17.2% |
| Recurring financial income | 75 | €3,778 | €3,127 | -€651 | -17.2% |
| Financial charges | 65/66B | €48 | €56 | +€9 | +18.5% |
| Recurring financial charges | 65 | €48 | €56 | +€9 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | -€4,058 | -€535 | +€3,523 | +86.8% |
| Transfer from deferred taxes | 780 | €6,969 | €6,969 | = | 0.0% |
| Income taxes | 67/77 | €4,413 | €5,417 | +€1,004 | +22.8% |
| Profit (loss) for the period | 9904 | -€1,502 | €1,017 | +€2,519 | |
| Transfer from tax-exempt reserves | 789 | €13,533 | €13,533 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,031 | €14,550 | +€2,519 | +20.9% |
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 14 October 2026 via checked.be.