Immo Nobels: 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 Nobels
Largest movements
- Cash +€293,796
up €293,796 (+15.4%), from €1.9m to €2.2m
mainly Advances received (+€299,875) and Depreciation (+€173,855)
- Receivables within one year -€91,779
down €91,779 (-13.6%), from €674,134 to €582,355
of which Trade receivables: -€110,003
- Tangible fixed assets -€86,775
down €86,775 (-12.4%), from €699,000 to €612,224
of which Other tangible fixed assets: -€88,974
- Intangible fixed assets +€54,921
new in 2025: €54,921
- Deferred charges and accrued income +€39,975
up €39,975 (+141.0%), from €28,344 to €68,320
- Advances received +€299,875
up €299,875 (+18.6%), from €1.6m to €1.9m
- Trade debts -€73,334
down €73,334 (-14.1%), from €519,064 to €445,730
- Taxes -€274,731
down €274,731 (-98.1%), from €279,946 to €5,215
- Staff costs +€273,610
up €273,610 (+28.5%), from €960,097 to €1.2m
- Gross operating margin -€67,926
down €67,926 (-4.5%), from €1.5m to €1.4m
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 | €3,314,249 | €3,524,387 | +€210,138 | +6.3% |
| Fixed assets | 21/28 | €699,000 | €667,145 | -€31,855 | -4.6% |
| Intangible fixed assets | 21 | - | €54,921 | +€54,921 | |
| Tangible fixed assets | 22/27 | €699,000 | €612,224 | -€86,775 | -12.4% |
| Plant, machinery and equipment | 23 | €37,183 | €18,812 | -€18,372 | -49.4% |
| Furniture and vehicles | 24 | €102,373 | €103,389 | +€1,016 | +1.0% |
| Leasing and similar rights | 25 | - | €19,554 | +€19,554 | |
| Other tangible fixed assets | 26 | €559,444 | €470,470 | -€88,974 | -15.9% |
| Current assets | 29/58 | €2,615,249 | €2,857,242 | +€241,993 | +9.3% |
| Amounts receivable within one year | 40/41 | €674,134 | €582,355 | -€91,779 | -13.6% |
| Trade receivables | 40 | €309,860 | €199,857 | -€110,003 | -35.5% |
| Other amounts receivable | 41 | €364,274 | €382,498 | +€18,224 | +5.0% |
| Current investments | 50/53 | €900 | €900 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,911,871 | €2,205,667 | +€293,796 | +15.4% |
| Deferred charges and accrued income | 490/1 | €28,344 | €68,320 | +€39,975 | +141.0% |
| Total equity and liabilities | 10/49 | €3,314,249 | €3,524,387 | +€210,138 | +6.3% |
| Equity | 10/15 | €908,912 | €913,108 | +€4,196 | +0.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €902,712 | €906,908 | +€4,196 | +0.5% |
| Distributable reserves | 133 | €902,712 | €906,908 | +€4,196 | +0.5% |
| Amounts payable | 17/49 | €2,405,337 | €2,611,279 | +€205,942 | +8.6% |
| Amounts payable after more than one year | 17 | €38,251 | €10,523 | -€27,728 | -72.5% |
| Financial debts | 170/4 | €38,251 | €10,523 | -€27,728 | -72.5% |
| Amounts payable within one year | 42/48 | €2,367,085 | €2,600,756 | +€233,670 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €42,017 | €42,301 | +€284 | +0.7% |
| Financial debts | 43 | €7,279 | €6,309 | -€969 | -13.3% |
| Credit institutions | 430/8 | €7,279 | €6,309 | -€969 | -13.3% |
| Trade debts | 44 | €519,064 | €445,730 | -€73,334 | -14.1% |
| Suppliers | 440/4 | €519,064 | €445,730 | -€73,334 | -14.1% |
| Advances received on contracts in progress | 46 | €1,615,209 | €1,915,083 | +€299,875 | +18.6% |
| Taxes, remuneration and social security | 45 | €183,517 | €191,332 | +€7,815 | +4.3% |
| Taxes | 450/3 | €81,593 | €21,223 | -€60,370 | -74.0% |
| Remuneration and social security | 454/9 | €101,924 | €170,109 | +€68,185 | +66.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €7,620 | €0 | -€7,620 | -100.0% |
| Remuneration, social security and pensions | 62 | €960,097 | €1,233,707 | +€273,610 | +28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,943 | €173,855 | -€9,087 | -5.0% |
| Other operating charges | 640/8 | €34,725 | €22,553 | -€12,172 | -35.1% |
| Non-recurring operating charges | 66A | €4,687 | €598 | -€4,090 | -87.2% |
| Gross operating margin | 9900 | €1,516,807 | €1,448,881 | -€67,926 | -4.5% |
| Operating profit (loss) | 9901 | €334,356 | €18,168 | -€316,188 | -94.6% |
| Financial income | 75/76B | €7,451 | €5,742 | -€1,709 | -22.9% |
| Recurring financial income | 75 | €7,451 | €5,742 | -€1,709 | -22.9% |
| Financial charges | 65/66B | €23,625 | €14,499 | -€9,126 | -38.6% |
| Recurring financial charges | 65 | €23,625 | €14,499 | -€9,126 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €318,182 | €9,411 | -€308,771 | -97.0% |
| Income taxes | 67/77 | €279,946 | €5,215 | -€274,731 | -98.1% |
| Profit (loss) for the period | 9904 | €38,236 | €4,196 | -€34,040 | -89.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,236 | €4,196 | -€34,040 | -89.0% |
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.