IMMO J: 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 J
Largest movements
- Receivables within one year -€70,246
down €70,246 (-6.3%), from €1.1m to €1.0m
- Tangible fixed assets -€52,919
down €52,919 (-6.8%), from €779,914 to €726,995
of which Land and buildings: -€52,844
- Tax, wage and social debts -€68,400
down €68,400 (-74.3%), from €92,100 to €23,699
- Debts after one year -€38,543
down €38,543 (-16.6%), from €232,117 to €193,574
- Reserves -€24,347
down €24,347 (-2.8%), from €874,134 to €849,786
of which Tax-exempt reserves: -€22,772
- Other operating charges +€10,644
up €10,644 (+68.7%), from €15,499 to €26,143
- Depreciation -€5,586
down €5,586 (-9.5%), from €58,505 to €52,919
- Financial charges -€1,728
down €1,728 (-9.7%), from €17,728 to €16,000
- Financial income -€942
down €942 (-5.4%), from €17,310 to €16,368
- Gross operating margin +€901
up €901 (+2.0%), from €45,860 to €46,762
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 | €1,900,526 | €1,776,466 | -€124,060 | -6.5% |
| Fixed assets | 21/28 | €780,038 | €727,119 | -€52,919 | -6.8% |
| Tangible fixed assets | 22/27 | €779,914 | €726,995 | -€52,919 | -6.8% |
| Land and buildings | 22 | €605,506 | €552,661 | -€52,844 | -8.7% |
| Plant, machinery and equipment | 23 | €594 | €559 | -€35 | -5.9% |
| Furniture and vehicles | 24 | €280 | €240 | -€40 | -14.3% |
| Assets under construction and advance payments | 27 | €173,535 | €173,535 | = | 0.0% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €1,120,488 | €1,049,347 | -€71,141 | -6.3% |
| Amounts receivable within one year | 40/41 | €1,115,804 | €1,045,558 | -€70,246 | -6.3% |
| Other amounts receivable | 41 | €1,115,804 | €1,045,558 | -€70,246 | -6.3% |
| Cash at bank and in hand | 54/58 | €4,537 | €3,628 | -€909 | -20.0% |
| Deferred charges and accrued income | 490/1 | €147 | €161 | +€14 | +9.2% |
| Total equity and liabilities | 10/49 | €1,900,526 | €1,776,466 | -€124,060 | -6.5% |
| Equity | 10/15 | €967,094 | €942,746 | -€24,347 | -2.5% |
| Contributions | 10/11 | €92,960 | €92,960 | = | 0.0% |
| Contributions outside capital | 11 | €92,960 | €92,960 | = | 0.0% |
| Other | 1109/19 | €92,960 | €92,960 | = | 0.0% |
| Reserves | 13 | €874,134 | €849,786 | -€24,347 | -2.8% |
| Tax-exempt reserves | 132 | €253,257 | €230,485 | -€22,772 | -9.0% |
| Distributable reserves | 133 | €620,876 | €619,301 | -€1,575 | -0.3% |
| Provisions and deferred taxes | 16 | €81,040 | €73,449 | -€7,591 | -9.4% |
| Deferred taxes | 168 | €81,040 | €73,449 | -€7,591 | -9.4% |
| Amounts payable | 17/49 | €852,392 | €760,270 | -€92,122 | -10.8% |
| Amounts payable after more than one year | 17 | €232,117 | €193,574 | -€38,543 | -16.6% |
| Financial debts | 170/4 | €232,117 | €193,574 | -€38,543 | -16.6% |
| Amounts payable within one year | 42/48 | €620,275 | €566,696 | -€53,579 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €37,582 | €38,543 | +€961 | +2.6% |
| Financial debts | 43 | €23,805 | €25,409 | +€1,604 | +6.7% |
| Credit institutions | 430/8 | €23,805 | €25,409 | +€1,604 | +6.7% |
| Trade debts | 44 | €227,788 | €240,045 | +€12,257 | +5.4% |
| Suppliers | 440/4 | €227,788 | €240,045 | +€12,257 | +5.4% |
| Taxes, remuneration and social security | 45 | €92,100 | €23,699 | -€68,400 | -74.3% |
| Taxes | 450/3 | €92,100 | €23,699 | -€68,400 | -74.3% |
| Other amounts payable | 47/48 | €239,000 | €239,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,505 | €52,919 | -€5,586 | -9.5% |
| Other operating charges | 640/8 | €15,499 | €26,143 | +€10,644 | +68.7% |
| Gross operating margin | 9900 | €45,860 | €46,762 | +€901 | +2.0% |
| Operating profit (loss) | 9901 | -€28,144 | -€32,300 | -€4,156 | -14.8% |
| Financial income | 75/76B | €17,310 | €16,368 | -€942 | -5.4% |
| Recurring financial income | 75 | €17,310 | €16,368 | -€942 | -5.4% |
| Financial charges | 65/66B | €17,728 | €16,000 | -€1,728 | -9.7% |
| Recurring financial charges | 65 | €17,728 | €16,000 | -€1,728 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | -€28,562 | -€31,932 | -€3,370 | -11.8% |
| Transfer from deferred taxes | 780 | €7,591 | €7,591 | = | 0.0% |
| Income taxes | 67/77 | €487 | €6 | -€481 | -98.9% |
| Profit (loss) for the period | 9904 | -€21,459 | -€24,347 | -€2,889 | -13.5% |
| Transfer from tax-exempt reserves | 789 | €22,772 | €22,772 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,314 | -€1,575 | -€2,889 |
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 10 October 2026 via checked.be.