IMMO VM: 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.
What changed
IMMO VM
NACE 73.200, Market research and public opinion polling
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€852,063
2024 · -€148,983+€1.0m
Equity
€25,152
2024 · -€826,911+€852,063
Cash
€382,889
2024 · €22,560+€360,329
Balance sheet total
€8.6m
2024 · €9.9m-€1.3m
Largest movements
Assets
- Stocks and contracts -€1.2m
down €1.2m (-26.2%), from €4.5m to €3.3m
- Receivables within one year -€517,510
down €517,510 (-64.7%), from €799,390 to €281,880
- Cash +€360,329
up €360,329 (+1,597%), from €22,560 to €382,889
mainly Debts after one year (+€1.5m) and Stocks and contracts (+€1.2m)
Equity and liabilities
- Short-term financial debts -€3.3m
down €3.3m (-54.4%), from €6.2m to €2.8m
- Debts after one year +€1.5m
new in 2025: €1.5m
- Profit (loss) carried forward +€852,063
up €852,063 (+11.7%), from -€7.3m to -€6.4m
- Other debts -€383,556
down €383,556 (-8.4%), from €4.6m to €4.2m
Income statement
- Turnover +€2.2m
up €2.2m, from €0 to €2.2m
- Goods and materials +€1.2m
up €1.2m, from €0 to €1.2m
of which Change in stocks: decrease (increase): +€1.2m
- Services and other goods +€67,648
up €67,648 (+247%), from €27,408 to €95,056
- Other operating income -€53,914
down €53,914 (-100%), from €53,914 to €0
- Financial income +€51,472
up €51,472 (+42.8%), from €120,216 to €171,688
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.
Result 2024
-€148,983
Turnover
+€2.2m
Other operating income
-€53,914
Goods and materials
-€1.2m
Services and other goods
-€67,648
Other operating charges
+€39,189
Financial income
+€51,472
Financial charges
+€38,788
Result 2025
€852,063
raises the resultlowers the result
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.
From operations
+€2.2m
Investment
€0
Financing
-€1.9m
Cash 2024
€22,560
From operations (derived)
+€2.2m
Net result for the year
+€852,063
Stocks and contracts
+€1.2m
Receivables within one year
+€517,510
Deferred charges and accrued income
+€18,616
Trade debts
+€31,352
Smaller working-capital items
+€2,306
Advances received
+€14,925
Other debts
-€383,556
Financing
-€1.9m
Debts after one year
+€1.5m
Short-term financial debts
-€3.3m
Cash 2025
€382,889
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,910,375 | €8,562,556 | -€1.3m | -13.6% |
| Fixed assets | 21/28 | €5,489 | €5,489 | = | 0.0% |
| Financial fixed assets | 28 | €5,489 | €5,489 | = | 0.0% |
| Affiliated companies | 280/1 | €5,489 | €5,489 | = | 0.0% |
| Participating interests | 280 | €5,489 | €5,489 | = | 0.0% |
| Current assets | 29/58 | €9,904,885 | €8,557,067 | -€1.3m | -13.6% |
| Amounts receivable after more than one year | 29 | €4,577,000 | €4,577,000 | = | 0.0% |
| Other amounts receivable | 291 | €4,577,000 | €4,577,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €4,473,189 | €3,301,168 | -€1.2m | -26.2% |
| Stocks | 30/36 | €4,473,189 | €3,301,168 | -€1.2m | -26.2% |
| Property held for sale | 35 | €4,473,189 | €3,301,168 | -€1.2m | -26.2% |
| Amounts receivable within one year | 40/41 | €799,390 | €281,880 | -€517,510 | -64.7% |
| Other amounts receivable | 41 | €799,390 | €281,880 | -€517,510 | -64.7% |
| Cash at bank and in hand | 54/58 | €22,560 | €382,889 | +€360,329 | +1,597% |
| Deferred charges and accrued income | 490/1 | €32,747 | €14,131 | -€18,616 | -56.8% |
| Total equity and liabilities | 10/49 | €9,910,375 | €8,562,556 | -€1.3m | -13.6% |
| Equity | 10/15 | -€826,911 | €25,152 | +€852,063 | |
| Contributions | 10/11 | €6,080,000 | €6,080,000 | = | 0.0% |
| Capital | 10 | €6,080,000 | €6,080,000 | = | 0.0% |
| Issued capital | 100 | €6,080,000 | €6,080,000 | = | 0.0% |
| Reserves | 13 | €381,954 | €381,954 | = | 0.0% |
| Non-distributable reserves | 130/1 | €358,000 | €358,000 | = | 0.0% |
| Legal reserve | 130 | €358,000 | €358,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,954 | €23,954 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,288,865 | -€6,436,802 | +€852,063 | +11.7% |
| Amounts payable | 17/49 | €10,737,286 | €8,537,404 | -€2.2m | -20.5% |
| Amounts payable after more than one year | 17 | - | €1,478,000 | +€1.5m | |
| Financial debts | 170/4 | - | €1,478,000 | +€1.5m | |
| Credit institutions | 173 | - | €1,478,000 | +€1.5m | |
| Amounts payable within one year | 42/48 | €10,727,652 | €7,047,466 | -€3.7m | -34.3% |
| Financial debts | 43 | €6,150,480 | €2,807,570 | -€3.3m | -54.4% |
| Credit institutions | 430/8 | €6,150,480 | €2,807,570 | -€3.3m | -54.4% |
| Trade debts | 44 | €4,747 | €36,099 | +€31,352 | +661% |
| Suppliers | 440/4 | €4,747 | €36,099 | +€31,352 | +661% |
| Advances received on contracts in progress | 46 | - | €14,925 | +€14,925 | |
| Taxes, remuneration and social security | 45 | €126 | €128 | +€2 | +1.6% |
| Taxes | 450/3 | €126 | €128 | +€2 | +1.6% |
| Other amounts payable | 47/48 | €4,572,300 | €4,188,744 | -€383,556 | -8.4% |
| Accrued charges and deferred income | 492/3 | €9,633 | €11,938 | +€2,304 | +23.9% |
| Operating income | 70/76A | €53,914 | €2,174,070 | +€2.1m | +3,933% |
| Turnover | 70 | €0 | €2,174,070 | +€2.2m | |
| Other operating income | 74 | €53,914 | €0 | -€53,914 | -100% |
| Operating charges | 60/66A | €67,723 | €1,277,093 | +€1.2m | +1,786% |
| Goods for resale, raw materials and consumables | 60 | €0 | €1,180,910 | +€1.2m | |
| Purchases | 600/8 | €0 | €8,889 | +€8,889 | |
| Change in stocks: decrease (increase) | 609 | €0 | €1,172,021 | +€1.2m | |
| Services and other goods | 61 | €27,408 | €95,056 | +€67,648 | +247% |
| Other operating charges | 640/8 | €40,315 | €1,126 | -€39,189 | -97.2% |
| Operating profit (loss) | 9901 | -€13,810 | €896,977 | +€910,787 | |
| Financial income | 75/76B | €120,216 | €171,688 | +€51,472 | +42.8% |
| Recurring financial income | 75 | €120,216 | €171,688 | +€51,472 | +42.8% |
| Income from current assets | 751 | €120,216 | €171,688 | +€51,472 | +42.8% |
| Financial charges | 65/66B | €255,390 | €216,602 | -€38,788 | -15.2% |
| Recurring financial charges | 65 | €255,390 | €215,297 | -€40,093 | -15.7% |
| Debt charges | 650 | €243,141 | €205,795 | -€37,346 | -15.4% |
| Other financial charges | 652/9 | €12,249 | €9,502 | -€2,747 | -22.4% |
| Non-recurring financial charges | 66B | - | €1,305 | +€1,305 | |
| Profit (loss) for the period before taxes | 9903 | -€148,983 | €852,063 | +€1.0m | |
| Income taxes | 67/77 | €0 | - | = | |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€148,983 | €852,063 | +€1.0m | |
| Profit (loss) for the period to be appropriated | 9905 | -€148,983 | €852,063 | +€1.0m |
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.