IMMO GROUP-S: 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 GROUP-S
Largest movements
- Intangible fixed assets -€47,000
down €47,000 (-13.0%), from €360,290 to €313,290
- Tangible fixed assets +€30,543
up €30,543 (+73.4%), from €41,625 to €72,167
of which Furniture and vehicles: +€30,409
- Receivables within one year -€28,330
down €28,330 (-29.1%), from €97,516 to €69,186
of which Trade receivables: -€27,595
- Deferred charges and accrued income -€6,327
down €6,327 (-54.8%), from €11,540 to €5,213
- Cash -€5,485
down €5,485 (-35.9%), from €15,271 to €9,786
mainly Other debts (-€68,920) and Investment in fixed assets (net) (-€49,671)
- Other debts -€68,920
down €68,920 (-91.0%), from €75,723 to €6,803
- Debts after one year -€29,313
down €29,313 (-12.7%), from €231,067 to €201,754
of which Other amounts payable: -€53,962
- Short-term financial debts +€20,167
new in 2025: €20,167
- Current portion of long-term debt +€9,994
up €9,994 (+17.0%), from €58,761 to €68,756
- Accrued charges and deferred income +€7,677
up €7,677 (+158%), from €4,859 to €12,535
- Staff costs +€47,421
up €47,421 (+25.6%), from €184,983 to €232,404
- Gross operating margin -€37,487
down €37,487 (-10.4%), from €360,099 to €322,612
- Taxes -€30,035
down €30,035 (-100.0%), from €30,035 to €0
- Depreciation +€10,860
up €10,860 (+19.7%), from €55,231 to €66,091
- Other operating charges +€4,095
up €4,095 (+125%), from €3,284 to €7,379
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 | €530,409 | €473,845 | -€56,563 | -10.7% |
| Fixed assets | 21/28 | €406,082 | €389,661 | -€16,421 | -4.0% |
| Intangible fixed assets | 21 | €360,290 | €313,290 | -€47,000 | -13.0% |
| Tangible fixed assets | 22/27 | €41,625 | €72,167 | +€30,543 | +73.4% |
| Plant, machinery and equipment | 23 | €4,683 | €3,650 | -€1,032 | -22.0% |
| Furniture and vehicles | 24 | €35,312 | €65,721 | +€30,409 | +86.1% |
| Other tangible fixed assets | 26 | €1,630 | €2,796 | +€1,166 | +71.5% |
| Financial fixed assets | 28 | €4,166 | €4,203 | +€37 | +0.9% |
| Current assets | 29/58 | €124,327 | €84,184 | -€40,143 | -32.3% |
| Amounts receivable within one year | 40/41 | €97,516 | €69,186 | -€28,330 | -29.1% |
| Trade receivables | 40 | €83,461 | €55,866 | -€27,595 | -33.1% |
| Other amounts receivable | 41 | €14,055 | €13,320 | -€735 | -5.2% |
| Cash at bank and in hand | 54/58 | €15,271 | €9,786 | -€5,485 | -35.9% |
| Deferred charges and accrued income | 490/1 | €11,540 | €5,213 | -€6,327 | -54.8% |
| Total equity and liabilities | 10/49 | €530,409 | €473,845 | -€56,563 | -10.7% |
| Equity | 10/15 | €20,451 | €20,451 | = | 0.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Amounts payable | 17/49 | €509,957 | €453,394 | -€56,563 | -11.1% |
| Amounts payable after more than one year | 17 | €231,067 | €201,754 | -€29,313 | -12.7% |
| Financial debts | 170/4 | €22,299 | €46,948 | +€24,649 | +111% |
| Other amounts payable | 178/9 | €208,769 | €154,806 | -€53,962 | -25.8% |
| Amounts payable within one year | 42/48 | €274,031 | €239,105 | -€34,927 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €58,761 | €68,756 | +€9,994 | +17.0% |
| Financial debts | 43 | - | €20,167 | +€20,167 | |
| Credit institutions | 430/8 | - | €20,167 | +€20,167 | |
| Trade debts | 44 | €113,405 | €112,213 | -€1,193 | -1.1% |
| Suppliers | 440/4 | €113,405 | €112,213 | -€1,193 | -1.1% |
| Taxes, remuneration and social security | 45 | €26,142 | €31,167 | +€5,025 | +19.2% |
| Taxes | 450/3 | €13,317 | €5,526 | -€7,791 | -58.5% |
| Remuneration and social security | 454/9 | €12,825 | €25,640 | +€12,815 | +99.9% |
| Other amounts payable | 47/48 | €75,723 | €6,803 | -€68,920 | -91.0% |
| Accrued charges and deferred income | 492/3 | €4,859 | €12,535 | +€7,677 | +158% |
| Remuneration, social security and pensions | 62 | €184,983 | €232,404 | +€47,421 | +25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,231 | €66,091 | +€10,860 | +19.7% |
| Other operating charges | 640/8 | €3,284 | €7,379 | +€4,095 | +125% |
| Gross operating margin | 9900 | €360,099 | €322,612 | -€37,487 | -10.4% |
| Operating profit (loss) | 9901 | €116,601 | €16,738 | -€99,863 | -85.6% |
| Financial charges | 65/66B | €10,293 | €9,913 | -€380 | -3.7% |
| Recurring financial charges | 65 | €10,293 | €9,913 | -€380 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €106,308 | €6,826 | -€99,482 | -93.6% |
| Income taxes | 67/77 | €30,035 | €0 | -€30,035 | -100.0% |
| Profit (loss) for the period | 9904 | €76,273 | €6,826 | -€69,447 | -91.1% |
| Profit (loss) for the period to be appropriated | 9905 | €76,273 | €6,826 | -€69,447 | -91.1% |
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 18 October 2026 via checked.be.