IMMO T: 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 T
Largest movements
- Cash +€795,319
up €795,319 (+251%), from €316,611 to €1.1m
mainly Net result for the year (+€447,916) and Current investments (+€350,000)
- Current investments -€350,000
no longer reported in 2025 (was €350,000)
- Tangible fixed assets -€249,723
down €249,723 (-18.6%), from €1.3m to €1.1m
of which Land and buildings: -€248,908
- Receivables within one year -€147,611
down €147,611 (-17.3%), from €852,032 to €704,421
of which Trade receivables: -€506,543
- Debts after one year -€200,680
down €200,680 (-21.9%), from €914,701 to €714,021
- Reserves +€191,412
up €191,412 (+11.1%), from €1.7m to €1.9m
- Trade debts +€67,061
up €67,061 (+133%), from €50,336 to €117,396
- Gross operating margin -€64,817
down €64,817 (-6.6%), from €980,741 to €915,924
- Depreciation -€21,960
down €21,960 (-21.2%), from €103,662 to €81,702
- Financial charges -€15,491
down €15,491 (-38.8%), from €39,911 to €24,420
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 | €2,867,365 | €2,925,251 | +€57,887 | +2.0% |
| Fixed assets | 21/28 | €1,344,901 | €1,095,179 | -€249,723 | -18.6% |
| Tangible fixed assets | 22/27 | €1,343,551 | €1,093,829 | -€249,723 | -18.6% |
| Land and buildings | 22 | €1,274,028 | €1,025,120 | -€248,908 | -19.5% |
| Plant, machinery and equipment | 23 | €8,051 | €17,361 | +€9,309 | +116% |
| Furniture and vehicles | 24 | €43,251 | €28,235 | -€15,016 | -34.7% |
| Other tangible fixed assets | 26 | €18,221 | €23,112 | +€4,892 | +26.8% |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €1,522,464 | €1,830,073 | +€307,609 | +20.2% |
| Amounts receivable within one year | 40/41 | €852,032 | €704,421 | -€147,611 | -17.3% |
| Trade receivables | 40 | €603,092 | €96,549 | -€506,543 | -84.0% |
| Other amounts receivable | 41 | €248,940 | €607,872 | +€358,932 | +144% |
| Current investments | 50/53 | €350,000 | - | -€350,000 | |
| Cash at bank and in hand | 54/58 | €316,611 | €1,111,930 | +€795,319 | +251% |
| Deferred charges and accrued income | 490/1 | €3,821 | €13,722 | +€9,901 | +259% |
| Total equity and liabilities | 10/49 | €2,867,365 | €2,925,251 | +€57,887 | +2.0% |
| Equity | 10/15 | €1,722,217 | €1,913,630 | +€191,412 | +11.1% |
| Reserves | 13 | €1,722,217 | €1,913,630 | +€191,412 | +11.1% |
| Distributable reserves | 133 | €1,722,217 | €1,913,630 | +€191,412 | +11.1% |
| Amounts payable | 17/49 | €1,145,147 | €1,011,622 | -€133,526 | -11.7% |
| Amounts payable after more than one year | 17 | €914,701 | €714,021 | -€200,680 | -21.9% |
| Financial debts | 170/4 | €914,701 | €714,021 | -€200,680 | -21.9% |
| Amounts payable within one year | 42/48 | €220,101 | €289,585 | +€69,484 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €77,978 | €69,381 | -€8,596 | -11.0% |
| Trade debts | 44 | €50,336 | €117,396 | +€67,061 | +133% |
| Suppliers | 440/4 | €50,336 | €117,396 | +€67,061 | +133% |
| Taxes, remuneration and social security | 45 | €66,907 | €68,520 | +€1,613 | +2.4% |
| Taxes | 450/3 | €49,490 | €36,286 | -€13,203 | -26.7% |
| Remuneration and social security | 454/9 | €17,418 | €32,234 | +€14,817 | +85.1% |
| Other amounts payable | 47/48 | €24,881 | €34,288 | +€9,407 | +37.8% |
| Accrued charges and deferred income | 492/3 | €10,345 | €8,015 | -€2,330 | -22.5% |
| Non-recurring operating income | 76A | - | €72,343 | +€72,343 | |
| Remuneration, social security and pensions | 62 | €162,639 | €167,237 | +€4,597 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,662 | €81,702 | -€21,960 | -21.2% |
| Other operating charges | 640/8 | €11,649 | €10,906 | -€743 | -6.4% |
| Gross operating margin | 9900 | €980,741 | €915,924 | -€64,817 | -6.6% |
| Operating profit (loss) | 9901 | €702,791 | €656,079 | -€46,712 | -6.6% |
| Financial income | 75/76B | €24,437 | €29,299 | +€4,861 | +19.9% |
| Recurring financial income | 75 | €24,437 | €29,299 | +€4,861 | +19.9% |
| Financial charges | 65/66B | €39,911 | €24,420 | -€15,491 | -38.8% |
| Recurring financial charges | 65 | €39,911 | €24,420 | -€15,491 | -38.8% |
| Profit (loss) for the period before taxes | 9903 | €687,318 | €660,958 | -€26,360 | -3.8% |
| Income taxes | 67/77 | €222,557 | €213,042 | -€9,515 | -4.3% |
| Profit (loss) for the period | 9904 | €464,761 | €447,916 | -€16,845 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €464,761 | €447,916 | -€16,845 | -3.6% |
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 15 October 2026 via checked.be.