IMMO TWINS: 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 TWINS
Largest movements
- Tangible fixed assets -€141,461
down €141,461 (-17.8%), from €794,278 to €652,818
- Cash -€103,596
down €103,596 (-27.7%), from €374,599 to €271,003
mainly Contributions, distributions and other (-€229,000) and Debts after one year (-€105,755)
- Reserves -€185,248
down €185,248 (-16.7%), from €1.1m to €922,666
of which Distributable reserves: -€185,248
- Debts after one year -€105,755
down €105,755 (-16.3%), from €648,333 to €542,578
- Tax, wage and social debts +€33,177
up €33,177 (+66.9%), from €49,585 to €82,762
of which Taxes: +€20,639
- Gross operating margin +€49,917
up €49,917 (+10.8%), from €463,925 to €513,843
- Depreciation -€27,851
down €27,851 (-14.6%), from €190,666 to €162,815
- Taxes +€20,052
up €20,052 (+483%), from €4,148 to €24,200
- Financial income -€12,899
down €12,899 (-65.1%), from €19,823 to €6,924
- Provisions +€7,000
no longer reported in 2025 (was -€7,000)
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 | €2,142,952 | €1,876,884 | -€266,068 | -12.4% |
| Fixed assets | 21/28 | €797,134 | €654,806 | -€142,327 | -17.9% |
| Intangible fixed assets | 21 | €1,691 | €824 | -€867 | -51.3% |
| Tangible fixed assets | 22/27 | €794,278 | €652,818 | -€141,461 | -17.8% |
| Land and buildings | 22 | €270,000 | €240,000 | -€30,000 | -11.1% |
| Plant, machinery and equipment | 23 | €115,506 | €72,881 | -€42,625 | -36.9% |
| Furniture and vehicles | 24 | €10,069 | €21,380 | +€11,310 | +112% |
| Leasing and similar rights | 25 | €278,783 | €211,541 | -€67,241 | -24.1% |
| Other tangible fixed assets | 26 | €119,920 | €107,015 | -€12,905 | -10.8% |
| Financial fixed assets | 28 | €1,165 | €1,165 | = | 0.0% |
| Current assets | 29/58 | €1,345,819 | €1,222,078 | -€123,740 | -9.2% |
| Amounts receivable within one year | 40/41 | €946,404 | €932,555 | -€13,849 | -1.5% |
| Trade receivables | 40 | €136,136 | €121,935 | -€14,201 | -10.4% |
| Other amounts receivable | 41 | €810,268 | €810,620 | +€352 | 0.0% |
| Current investments | 50/53 | €900 | €900 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €374,599 | €271,003 | -€103,596 | -27.7% |
| Deferred charges and accrued income | 490/1 | €23,916 | €17,621 | -€6,295 | -26.3% |
| Total equity and liabilities | 10/49 | €2,142,952 | €1,876,884 | -€266,068 | -12.4% |
| Equity | 10/15 | €1,126,514 | €941,266 | -€185,248 | -16.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,107,914 | €922,666 | -€185,248 | -16.7% |
| Tax-exempt reserves | 132 | €202 | €202 | = | 0.0% |
| Distributable reserves | 133 | €1,107,712 | €922,464 | -€185,248 | -16.7% |
| Amounts payable | 17/49 | €1,016,438 | €935,618 | -€80,820 | -8.0% |
| Amounts payable after more than one year | 17 | €648,333 | €542,578 | -€105,755 | -16.3% |
| Financial debts | 170/4 | €648,333 | €542,578 | -€105,755 | -16.3% |
| Amounts payable within one year | 42/48 | €367,953 | €392,863 | +€24,910 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €100,019 | €105,494 | +€5,475 | +5.5% |
| Trade debts | 44 | €51,966 | €53,432 | +€1,466 | +2.8% |
| Suppliers | 440/4 | €51,966 | €53,432 | +€1,466 | +2.8% |
| Taxes, remuneration and social security | 45 | €49,585 | €82,762 | +€33,177 | +66.9% |
| Taxes | 450/3 | €30,117 | €50,756 | +€20,639 | +68.5% |
| Remuneration and social security | 454/9 | €19,468 | €32,006 | +€12,537 | +64.4% |
| Other amounts payable | 47/48 | €166,383 | €151,175 | -€15,208 | -9.1% |
| Accrued charges and deferred income | 492/3 | €152 | €178 | +€26 | +17.1% |
| Non-recurring operating income | 76A | €21,995 | €4,909 | -€17,086 | -77.7% |
| Remuneration, social security and pensions | 62 | €245,238 | €245,633 | +€395 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €190,666 | €162,815 | -€27,851 | -14.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€7,000 | - | +€7,000 | |
| Other operating charges | 640/8 | €5,845 | €7,983 | +€2,137 | +36.6% |
| Non-recurring operating charges | 66A | €5,067 | €4,033 | -€1,034 | -20.4% |
| Gross operating margin | 9900 | €463,925 | €513,843 | +€49,917 | +10.8% |
| Operating profit (loss) | 9901 | €24,109 | €93,379 | +€69,270 | +287% |
| Financial income | 75/76B | €19,823 | €6,924 | -€12,899 | -65.1% |
| Recurring financial income | 75 | €19,823 | €6,924 | -€12,899 | -65.1% |
| Financial charges | 65/66B | €36,800 | €32,351 | -€4,449 | -12.1% |
| Recurring financial charges | 65 | €36,800 | €32,351 | -€4,449 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €7,132 | €67,952 | +€60,820 | +853% |
| Income taxes | 67/77 | €4,148 | €24,200 | +€20,052 | +483% |
| Profit (loss) for the period | 9904 | €2,983 | €43,752 | +€40,768 | +1,366% |
| Profit (loss) for the period to be appropriated | 9905 | €2,983 | €43,752 | +€40,768 | +1,366% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.