IMMO ROAD ACADEMY: 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 ROAD ACADEMY
Largest movements
- Receivables within one year +€458,643
up €458,643 (+529%), from €86,643 to €545,286
- Tangible fixed assets -€87,149
down €87,149 (-4.5%), from €1.9m to €1.9m
- Reserves +€280,757
up €280,757 (+28.0%), from €1.0m to €1.3m
of which Distributable reserves: +€280,757
- Profit (loss) carried forward +€257,337
up €257,337 (+142%), from €181,049 to €438,385
- Debts after one year -€162,356
down €162,356 (-10.1%), from €1.6m to €1.4m
- Other debts -€58,640
down €58,640 (-85.0%), from €68,993 to €10,353
- Tax, wage and social debts +€44,622
up €44,622 (+35.7%), from €125,133 to €169,755
- Financial income -€384,985
down €384,985 (-42.5%), from €905,002 to €520,017
- Gross operating margin +€18,756
up €18,756 (+7.9%), from €238,263 to €257,019
- Taxes -€11,235
down €11,235 (-12.6%), from €89,020 to €77,785
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 | €3,183,338 | €3,547,576 | +€364,238 | +11.4% |
| Fixed assets | 21/28 | €3,048,350 | €2,961,201 | -€87,149 | -2.9% |
| Tangible fixed assets | 22/27 | €1,948,350 | €1,861,201 | -€87,149 | -4.5% |
| Land and buildings | 22 | €1,948,350 | €1,861,201 | -€87,149 | -4.5% |
| Financial fixed assets | 28 | €1,100,000 | €1,100,000 | = | 0.0% |
| Current assets | 29/58 | €134,988 | €586,375 | +€451,387 | +334% |
| Amounts receivable within one year | 40/41 | €86,643 | €545,286 | +€458,643 | +529% |
| Other amounts receivable | 41 | €86,643 | €545,286 | +€458,643 | +529% |
| Cash at bank and in hand | 54/58 | €48,345 | €28,606 | -€19,739 | -40.8% |
| Deferred charges and accrued income | 490/1 | - | €12,483 | +€12,483 | |
| Total equity and liabilities | 10/49 | €3,183,338 | €3,547,576 | +€364,238 | +11.4% |
| Equity | 10/15 | €1,202,772 | €1,740,866 | +€538,094 | +44.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,003,131 | €1,283,888 | +€280,757 | +28.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,606 | €32,606 | = | 0.0% |
| Distributable reserves | 133 | €968,666 | €1,249,423 | +€280,757 | +29.0% |
| Profit (loss) carried forward | 14 | €181,049 | €438,385 | +€257,337 | +142% |
| Amounts payable | 17/49 | €1,980,567 | €1,806,711 | -€173,856 | -8.8% |
| Amounts payable after more than one year | 17 | €1,605,507 | €1,443,151 | -€162,356 | -10.1% |
| Financial debts | 170/4 | €1,605,507 | €1,443,151 | -€162,356 | -10.1% |
| Amounts payable within one year | 42/48 | €375,060 | €358,120 | -€16,940 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €158,015 | €167,013 | +€8,998 | +5.7% |
| Financial debts | 43 | - | €10,000 | +€10,000 | |
| Other loans | 439 | - | €10,000 | +€10,000 | |
| Trade debts | 44 | €22,919 | €998 | -€21,921 | -95.6% |
| Suppliers | 440/4 | €22,919 | €998 | -€21,921 | -95.6% |
| Taxes, remuneration and social security | 45 | €125,133 | €169,755 | +€44,622 | +35.7% |
| Taxes | 450/3 | €125,133 | €169,755 | +€44,622 | +35.7% |
| Other amounts payable | 47/48 | €68,993 | €10,353 | -€58,640 | -85.0% |
| Accrued charges and deferred income | 492/3 | - | €5,440 | +€5,440 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,149 | €87,149 | = | 0.0% |
| Other operating charges | 640/8 | €24,249 | €24,640 | +€391 | +1.6% |
| Gross operating margin | 9900 | €238,263 | €257,019 | +€18,756 | +7.9% |
| Operating profit (loss) | 9901 | €126,865 | €145,231 | +€18,365 | +14.5% |
| Financial income | 75/76B | €905,002 | €520,017 | -€384,985 | -42.5% |
| Recurring financial income | 75 | €905,002 | €520,017 | -€384,985 | -42.5% |
| Financial charges | 65/66B | €51,518 | €49,368 | -€2,149 | -4.2% |
| Recurring financial charges | 65 | €51,518 | €49,368 | -€2,149 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €980,349 | €615,879 | -€364,470 | -37.2% |
| Income taxes | 67/77 | €89,020 | €77,785 | -€11,235 | -12.6% |
| Profit (loss) for the period | 9904 | €891,329 | €538,094 | -€353,235 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €891,329 | €538,094 | -€353,235 | -39.6% |
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 19 October 2026 via checked.be.