IMMO WAY: 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 WAY
Largest movements
- Receivables within one year +€51,364
up €51,364 (+678%), from €7,578 to €58,942
of which Trade receivables: +€51,364
- Cash -€28,545
down €28,545 (-10.4%), from €274,584 to €246,039
mainly Short-term financial debts (-€132,391) and Receivables within one year (-€51,364)
- Short-term financial debts -€132,391
down €132,391 (-13.9%), from €950,000 to €817,609
- Trade debts +€99,697
up €99,697 (+5,102%), from €1,954 to €101,651
- Tax, wage and social debts +€59,389
up €59,389 (+177%), from €33,604 to €92,994
of which Taxes: +€67,445
- Debts after one year -€20,800
down €20,800 (-26.0%), from €80,000 to €59,200
- Turnover +€869,816
new in 2025: €869,816
- Purchases and services +€731,516
new in 2025: €731,516
- Gross operating margin +€12,141
up €12,141 (+9.7%), from €124,924 to €137,065
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 | €1,226,323 | €1,242,680 | +€16,357 | +1.3% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €1,322 | €762 | -€560 | -42.4% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €1,322 | €762 | -€560 | -42.4% |
| Furniture and vehicles | 24 | €1,322 | €762 | -€560 | -42.4% |
| Current assets | 29/58 | €1,225,002 | €1,241,919 | +€16,917 | +1.4% |
| Stocks and contracts in progress | 3 | €942,354 | €936,938 | -€5,416 | -0.6% |
| Stocks | 30/36 | €942,354 | €936,938 | -€5,416 | -0.6% |
| Amounts receivable within one year | 40/41 | €7,578 | €58,942 | +€51,364 | +678% |
| Trade receivables | 40 | €7,330 | €58,695 | +€51,364 | +701% |
| Other amounts receivable | 41 | €247 | €247 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €274,584 | €246,039 | -€28,545 | -10.4% |
| Deferred charges and accrued income | 490/1 | €486 | €0 | -€486 | -100% |
| Total equity and liabilities | 10/49 | €1,226,323 | €1,242,680 | +€16,357 | +1.3% |
| Equity | 10/15 | €160,764 | €171,226 | +€10,462 | +6.5% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €28,607 | €39,069 | +€10,462 | +36.6% |
| Distributable reserves | 133 | €28,607 | €39,069 | +€10,462 | +36.6% |
| Profit (loss) carried forward | 14 | €22,158 | €22,158 | = | 0.0% |
| Amounts payable | 17/49 | €1,065,559 | €1,071,454 | +€5,895 | +0.6% |
| Amounts payable after more than one year | 17 | €80,000 | €59,200 | -€20,800 | -26.0% |
| Other amounts payable | 178/9 | €80,000 | €59,200 | -€20,800 | -26.0% |
| Amounts payable within one year | 42/48 | €985,559 | €1,012,254 | +€26,695 | +2.7% |
| Financial debts | 43 | €950,000 | €817,609 | -€132,391 | -13.9% |
| Credit institutions | 430/8 | €950,000 | €817,609 | -€132,391 | -13.9% |
| Trade debts | 44 | €1,954 | €101,651 | +€99,697 | +5,102% |
| Suppliers | 440/4 | €1,954 | €101,651 | +€99,697 | +5,102% |
| Taxes, remuneration and social security | 45 | €33,604 | €92,994 | +€59,389 | +177% |
| Taxes | 450/3 | €12,125 | €79,569 | +€67,445 | +556% |
| Remuneration and social security | 454/9 | €21,480 | €13,425 | -€8,055 | -37.5% |
| Other amounts payable | 47/48 | - | €0 | = | |
| Turnover | 70 | - | €869,816 | +€869,816 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €731,516 | +€731,516 | |
| Remuneration, social security and pensions | 62 | €81,631 | €78,709 | -€2,922 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €560 | €560 | -€0 | 0.0% |
| Other operating charges | 640/8 | €288 | €2,770 | +€2,482 | +863% |
| Gross operating margin | 9900 | €124,924 | €137,065 | +€12,141 | +9.7% |
| Operating profit (loss) | 9901 | €42,446 | €55,027 | +€12,581 | +29.6% |
| Financial income | 75/76B | €1,413 | €516 | -€897 | -63.5% |
| Recurring financial income | 75 | €1,413 | €516 | -€897 | -63.5% |
| Financial charges | 65/66B | €34,932 | €39,544 | +€4,612 | +13.2% |
| Recurring financial charges | 65 | €34,932 | €39,544 | +€4,612 | +13.2% |
| Profit (loss) for the period before taxes | 9903 | €8,927 | €15,999 | +€7,072 | +79.2% |
| Income taxes | 67/77 | €3,753 | €5,537 | +€1,785 | +47.6% |
| Profit (loss) for the period | 9904 | €5,174 | €10,462 | +€5,288 | +102% |
| Profit (loss) for the period to be appropriated | 9905 | €5,174 | €10,462 | +€5,288 | +102% |
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 14 October 2026 via checked.be.