IMMO S: what changed
Two fiscal 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 S
Largest movements
- Tangible fixed assets +€837,493
up €837,493 (+360.7%), from €232,218 to €1.1m
of which Land and buildings: +€842,764
- Cash -€47,311
down €47,311 (-85.9%), from €55,075 to €7,765
mainly Investment in fixed assets (net) (-€873,061) and Net result for the year (-€24,970)
- Debts after one year +€700,780
up €700,780 (+782.3%), from €89,574 to €790,354
- Other debts +€60,000
up €60,000 (+40.0%), from €150,082 to €210,082
- Current portion of long-term debt +€45,372
up €45,372 (+541.3%), from €8,382 to €53,754
- Profit (loss) carried forward -€24,970
down €24,970, from €19,083 to -€5,887
- Depreciation +€25,213
up €25,213 (+243.5%), from €10,354 to €35,568
- Financial charges +€18,744
up €18,744 (+254.0%), from €7,379 to €26,123
- Gross operating margin +€15,212
up €15,212 (+56.9%), from €26,713 to €41,925
- Other operating charges -€2,067
down €2,067 (-28.4%), from €7,271 to €5,204
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 | €292,122 | €1,080,442 | +€788,320 | +269.9% |
| Fixed assets | 21/28 | €232,218 | €1,069,711 | +€837,493 | +360.7% |
| Tangible fixed assets | 22/27 | €232,218 | €1,069,711 | +€837,493 | +360.7% |
| Land and buildings | 22 | €156,787 | €999,551 | +€842,764 | +537.5% |
| Plant, machinery and equipment | 23 | €70,763 | €66,174 | -€4,589 | -6.5% |
| Furniture and vehicles | 24 | €4,668 | €3,986 | -€682 | -14.6% |
| Current assets | 29/58 | €59,904 | €10,731 | -€49,173 | -82.1% |
| Amounts receivable within one year | 40/41 | €4,750 | €2,650 | -€2,100 | -44.2% |
| Trade receivables | 40 | €4,750 | €2,650 | -€2,100 | -44.2% |
| Cash at bank and in hand | 54/58 | €55,075 | €7,765 | -€47,311 | -85.9% |
| Deferred charges and accrued income | 490/1 | €79 | €316 | +€237 | +302.2% |
| Total equity and liabilities | 10/49 | €292,122 | €1,080,442 | +€788,320 | +269.9% |
| Equity | 10/15 | €44,083 | €19,113 | -€24,970 | -56.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | - | -€25,000 | |
| Issued capital | 100 | €25,000 | - | -€25,000 | |
| Profit (loss) carried forward | 14 | €19,083 | -€5,887 | -€24,970 | |
| Amounts payable | 17/49 | €248,039 | €1,061,328 | +€813,290 | +327.9% |
| Amounts payable after more than one year | 17 | €89,574 | €790,354 | +€700,780 | +782.3% |
| Financial debts | 170/4 | €89,574 | €790,354 | +€700,780 | +782.3% |
| Amounts payable within one year | 42/48 | €158,464 | €269,874 | +€111,410 | +70.3% |
| Current portion of amounts payable after more than one year | 42 | €8,382 | €53,754 | +€45,372 | +541.3% |
| Trade debts | 44 | - | €6,038 | +€6,038 | |
| Suppliers | 440/4 | - | €6,038 | +€6,038 | |
| Other amounts payable | 47/48 | €150,082 | €210,082 | +€60,000 | +40.0% |
| Accrued charges and deferred income | 492/3 | - | €1,100 | +€1,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,354 | €35,568 | +€25,213 | +243.5% |
| Other operating charges | 640/8 | €7,271 | €5,204 | -€2,067 | -28.4% |
| Gross operating margin | 9900 | €26,713 | €41,925 | +€15,212 | +56.9% |
| Operating profit (loss) | 9901 | €9,087 | €1,153 | -€7,935 | -87.3% |
| Financial income | 75/76B | €1 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €7,379 | €26,123 | +€18,744 | +254.0% |
| Recurring financial charges | 65 | €7,379 | €26,123 | +€18,744 | +254.0% |
| Profit (loss) for the period before taxes | 9903 | €1,709 | -€24,970 | -€26,679 | |
| Profit (loss) for the period | 9904 | €1,709 | -€24,970 | -€26,679 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,709 | -€24,970 | -€26,679 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.