IMMO V.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 V.S.
Largest movements
- Receivables within one year +€5,844
up €5,844 (+111.9%), from €5,225 to €11,069
- Tangible fixed assets -€4,716
down €4,716 (-3.4%), from €138,256 to €133,540
of which Land and buildings: -€4,425
- Cash +€2,356
up €2,356 (+4.9%), from €47,618 to €49,974
mainly Depreciation (+€18,155) and Net result for the year (+€14,386)
- Deferred charges and accrued income -€2,257
down €2,257 (-72.7%), from €3,105 to €848
- Profit (loss) carried forward +€19,046
up €19,046 (+340.2%), from €5,599 to €24,645
- Debts after one year -€16,189
no longer reported in 2025 (was €16,189)
- Current portion of long-term debt -€14,664
no longer reported in 2025 (was €14,664)
- Accrued charges and deferred income +€10,857
new in 2025: €10,857
- Trade debts +€8,068
new in 2025: €8,068
- Gross operating margin -€5,780
down €5,780 (-13.6%), from €42,637 to €36,857
- Taxes +€1,171
up €1,171 (+739.6%), from €158 to €1,330
- Depreciation -€1,049
down €1,049 (-5.5%), from €19,204 to €18,155
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 | €194,204 | €195,432 | +€1,228 | +0.6% |
| Fixed assets | 21/28 | €138,256 | €133,540 | -€4,716 | -3.4% |
| Tangible fixed assets | 22/27 | €138,256 | €133,540 | -€4,716 | -3.4% |
| Land and buildings | 22 | €109,545 | €105,120 | -€4,425 | -4.0% |
| Plant, machinery and equipment | 23 | €28,711 | €28,420 | -€291 | -1.0% |
| Current assets | 29/58 | €55,948 | €61,891 | +€5,944 | +10.6% |
| Amounts receivable within one year | 40/41 | €5,225 | €11,069 | +€5,844 | +111.9% |
| Other amounts receivable | 41 | €5,225 | €11,069 | +€5,844 | +111.9% |
| Cash at bank and in hand | 54/58 | €47,618 | €49,974 | +€2,356 | +4.9% |
| Deferred charges and accrued income | 490/1 | €3,105 | €848 | -€2,257 | -72.7% |
| Total equity and liabilities | 10/49 | €194,204 | €195,432 | +€1,228 | +0.6% |
| Equity | 10/15 | €131,832 | €146,217 | +€14,386 | +10.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €64,233 | €59,572 | -€4,660 | -7.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €58,033 | €53,372 | -€4,660 | -8.0% |
| Profit (loss) carried forward | 14 | €5,599 | €24,645 | +€19,046 | +340.2% |
| Provisions and deferred taxes | 16 | €29,874 | €27,473 | -€2,401 | -8.0% |
| Deferred taxes | 168 | €29,874 | €27,473 | -€2,401 | -8.0% |
| Amounts payable | 17/49 | €32,499 | €21,742 | -€10,757 | -33.1% |
| Amounts payable after more than one year | 17 | €16,189 | - | -€16,189 | |
| Financial debts | 170/4 | €16,189 | - | -€16,189 | |
| Amounts payable within one year | 42/48 | €16,309 | €10,885 | -€5,424 | -33.3% |
| Current portion of amounts payable after more than one year | 42 | €14,664 | - | -€14,664 | |
| Trade debts | 44 | - | €8,068 | +€8,068 | |
| Suppliers | 440/4 | - | €8,068 | +€8,068 | |
| Taxes, remuneration and social security | 45 | €158 | €1,330 | +€1,171 | +739.6% |
| Taxes | 450/3 | €158 | €1,330 | +€1,171 | +739.6% |
| Other amounts payable | 47/48 | €1,487 | €1,487 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €10,857 | +€10,857 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,204 | €18,155 | -€1,049 | -5.5% |
| Other operating charges | 640/8 | €4,597 | €4,433 | -€164 | -3.6% |
| Gross operating margin | 9900 | €42,637 | €36,857 | -€5,780 | -13.6% |
| Operating profit (loss) | 9901 | €18,836 | €14,269 | -€4,567 | -24.2% |
| Financial income | 75/76B | €123 | €198 | +€75 | +61.3% |
| Recurring financial income | 75 | €123 | €0 | -€123 | -100.0% |
| Non-recurring financial income | 76B | €123 | €198 | +€75 | +61.2% |
| Financial charges | 65/66B | €1,269 | €1,152 | -€117 | -9.2% |
| Recurring financial charges | 65 | €1,269 | €1,152 | -€117 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €17,690 | €13,314 | -€4,375 | -24.7% |
| Transfer from deferred taxes | 780 | €2,401 | €2,401 | = | 0.0% |
| Income taxes | 67/77 | €158 | €1,330 | +€1,171 | +739.6% |
| Profit (loss) for the period | 9904 | €19,932 | €14,386 | -€5,547 | -27.8% |
| Transfer from tax-exempt reserves | 789 | €4,660 | €4,660 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,593 | €19,046 | -€5,547 | -22.6% |
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 7 October 2026 via checked.be.