IMMO - RAMA: 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 - RAMA
Largest movements
- Current investments +€278,973
up €278,973 (+64.4%), from €433,406 to €712,379
- Tangible fixed assets -€90,157
down €90,157 (-7.3%), from €1.2m to €1.1m
of which Land and buildings: -€64,431
- Receivables within one year +€82,683
up €82,683 (+126.2%), from €65,541 to €148,224
of which Trade receivables: +€62,990
- Reserves +€228,257
up €228,257 (+16.7%), from €1.4m to €1.6m
of which Distributable reserves: +€228,257
- Other debts +€92,159
up €92,159 (+12.8%), from €721,303 to €813,461
- Debts after one year -€48,564
down €48,564 (-21.6%), from €225,262 to €176,698
- Gross operating margin +€127,285
up €127,285 (+36.3%), from €350,898 to €478,183
- Taxes +€66,441
up €66,441 (+139.0%), from €47,791 to €114,232
- Other operating charges -€28,024
down €28,024 (-49.1%), from €57,121 to €29,097
- Financial income +€27,549
up €27,549 (+1267.7%), from €2,173 to €29,722
- Financial charges -€8,481
down €8,481 (-11.9%), from €71,027 to €62,546
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 | €2,433,193 | €2,721,954 | +€288,761 | +11.9% |
| Fixed assets | 21/28 | €1,599,387 | €1,509,230 | -€90,157 | -5.6% |
| Tangible fixed assets | 22/27 | €1,229,964 | €1,139,807 | -€90,157 | -7.3% |
| Land and buildings | 22 | €1,136,150 | €1,071,720 | -€64,431 | -5.7% |
| Furniture and vehicles | 24 | €13,029 | €7,588 | -€5,441 | -41.8% |
| Other tangible fixed assets | 26 | €80,785 | €60,500 | -€20,285 | -25.1% |
| Financial fixed assets | 28 | €369,423 | €369,423 | = | 0.0% |
| Current assets | 29/58 | €833,806 | €1,212,724 | +€378,918 | +45.4% |
| Amounts receivable within one year | 40/41 | €65,541 | €148,224 | +€82,683 | +126.2% |
| Trade receivables | 40 | €39,882 | €102,872 | +€62,990 | +157.9% |
| Other amounts receivable | 41 | €25,659 | €45,353 | +€19,693 | +76.7% |
| Current investments | 50/53 | €433,406 | €712,379 | +€278,973 | +64.4% |
| Cash at bank and in hand | 54/58 | €330,664 | €344,854 | +€14,189 | +4.3% |
| Deferred charges and accrued income | 490/1 | €4,194 | €7,267 | +€3,072 | +73.3% |
| Total equity and liabilities | 10/49 | €2,433,193 | €2,721,954 | +€288,761 | +11.9% |
| Equity | 10/15 | €1,387,916 | €1,616,173 | +€228,257 | +16.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,369,316 | €1,597,573 | +€228,257 | +16.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,367,456 | €1,595,713 | +€228,257 | +16.7% |
| Amounts payable | 17/49 | €1,045,277 | €1,105,780 | +€60,504 | +5.8% |
| Amounts payable after more than one year | 17 | €225,262 | €176,698 | -€48,564 | -21.6% |
| Financial debts | 170/4 | €225,262 | €176,698 | -€48,564 | -21.6% |
| Amounts payable within one year | 42/48 | €816,765 | €927,163 | +€110,398 | +13.5% |
| Current portion of amounts payable after more than one year | 42 | €50,291 | €48,564 | -€1,727 | -3.4% |
| Trade debts | 44 | €32,887 | €28,865 | -€4,022 | -12.2% |
| Suppliers | 440/4 | €32,887 | €28,865 | -€4,022 | -12.2% |
| Taxes, remuneration and social security | 45 | €12,285 | €36,272 | +€23,988 | +195.3% |
| Taxes | 450/3 | €11,985 | €35,972 | +€23,988 | +200.2% |
| Remuneration and social security | 454/9 | €300 | €300 | = | 0.0% |
| Other amounts payable | 47/48 | €721,303 | €813,461 | +€92,159 | +12.8% |
| Accrued charges and deferred income | 492/3 | €3,250 | €1,920 | -€1,330 | -40.9% |
| Non-recurring operating income | 76A | €0 | €193,281 | +€193,281 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,134 | €73,773 | -€3,361 | -4.4% |
| Other operating charges | 640/8 | €57,121 | €29,097 | -€28,024 | -49.1% |
| Gross operating margin | 9900 | €350,898 | €478,183 | +€127,285 | +36.3% |
| Operating profit (loss) | 9901 | €216,643 | €375,313 | +€158,670 | +73.2% |
| Financial income | 75/76B | €2,173 | €29,722 | +€27,549 | +1267.7% |
| Recurring financial income | 75 | €2,173 | €29,722 | +€27,549 | +1267.7% |
| Financial charges | 65/66B | €71,027 | €62,546 | -€8,481 | -11.9% |
| Recurring financial charges | 65 | €71,027 | €62,546 | -€8,481 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €147,789 | €342,489 | +€194,700 | +131.7% |
| Income taxes | 67/77 | €47,791 | €114,232 | +€66,441 | +139.0% |
| Profit (loss) for the period | 9904 | €99,998 | €228,257 | +€128,259 | +128.3% |
| Profit (loss) for the period to be appropriated | 9905 | €99,998 | €228,257 | +€128,259 | +128.3% |
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 11 October 2026 via checked.be.