IMMO X: 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 X
Largest movements
- Tangible fixed assets -€45,636
down €45,636 (-3.9%), from €1.2m to €1.1m
of which Land and buildings: -€45,635
- Cash +€31,023
up €31,023 (+851.3%), from €3,644 to €34,667
mainly Depreciation (+€45,636) and Other debts (+€39,000)
- Deferred charges and accrued income -€21,000
down €21,000 (-77.8%), from €27,000 to €6,000
- Debts after one year -€61,840
down €61,840 (-8.8%), from €699,322 to €637,482
- Other debts +€39,000
up €39,000 (+88.2%), from €44,241 to €83,241
- Write-downs +€27,000
new in 2025: €27,000
- Taxes -€7,936
down €7,936 (-72.7%), from €10,918 to €2,982
- Gross operating margin -€1,617
down €1,617 (-1.3%), from €121,304 to €119,688
- Depreciation -€1,445
down €1,445 (-3.1%), from €47,081 to €45,636
- Other operating charges +€1,250
up €1,250 (+24.0%), from €5,214 to €6,464
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 | €1,203,581 | €1,178,390 | -€25,190 | -2.1% |
| Fixed assets | 21/28 | €1,171,860 | €1,126,223 | -€45,636 | -3.9% |
| Tangible fixed assets | 22/27 | €1,171,110 | €1,125,473 | -€45,636 | -3.9% |
| Land and buildings | 22 | €1,171,108 | €1,125,473 | -€45,635 | -3.9% |
| Plant, machinery and equipment | 23 | €1 | - | -€1 | |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €31,721 | €52,167 | +€20,446 | +64.5% |
| Amounts receivable within one year | 40/41 | €1,077 | €11,500 | +€10,423 | +968.0% |
| Other amounts receivable | 41 | €1,077 | €11,500 | +€10,423 | +968.0% |
| Cash at bank and in hand | 54/58 | €3,644 | €34,667 | +€31,023 | +851.3% |
| Deferred charges and accrued income | 490/1 | €27,000 | €6,000 | -€21,000 | -77.8% |
| Total equity and liabilities | 10/49 | €1,203,581 | €1,178,390 | -€25,190 | -2.1% |
| Equity | 10/15 | €345,519 | €350,801 | +€5,282 | +1.5% |
| Contributions | 10/11 | €111,701 | €111,701 | = | 0.0% |
| Capital | 10 | €111,701 | €111,701 | = | 0.0% |
| Issued capital | 100 | €111,701 | €111,701 | = | 0.0% |
| Reserves | 13 | €188,874 | €185,965 | -€2,910 | -1.5% |
| Non-distributable reserves | 130/1 | €11,170 | €11,170 | = | 0.0% |
| Legal reserve | 130 | €11,170 | €11,170 | = | 0.0% |
| Tax-exempt reserves | 132 | €64,982 | €62,072 | -€2,910 | -4.5% |
| Distributable reserves | 133 | €112,722 | €112,722 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,944 | €53,135 | +€8,192 | +18.2% |
| Provisions and deferred taxes | 16 | €21,661 | €20,691 | -€970 | -4.5% |
| Deferred taxes | 168 | €21,661 | €20,691 | -€970 | -4.5% |
| Amounts payable | 17/49 | €836,401 | €806,899 | -€29,502 | -3.5% |
| Amounts payable after more than one year | 17 | €699,322 | €637,482 | -€61,840 | -8.8% |
| Financial debts | 170/4 | €699,322 | €637,482 | -€61,840 | -8.8% |
| Amounts payable within one year | 42/48 | €137,079 | €169,417 | +€32,337 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €70,142 | €61,840 | -€8,302 | -11.8% |
| Trade debts | 44 | €5,621 | €10,435 | +€4,815 | +85.7% |
| Suppliers | 440/4 | €5,621 | €10,435 | +€4,815 | +85.7% |
| Taxes, remuneration and social security | 45 | €17,075 | €13,900 | -€3,175 | -18.6% |
| Taxes | 450/3 | €17,075 | €13,900 | -€3,175 | -18.6% |
| Other amounts payable | 47/48 | €44,241 | €83,241 | +€39,000 | +88.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,081 | €45,636 | -€1,445 | -3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €27,000 | +€27,000 | |
| Other operating charges | 640/8 | €5,214 | €6,464 | +€1,250 | +24.0% |
| Gross operating margin | 9900 | €121,304 | €119,688 | -€1,617 | -1.3% |
| Operating profit (loss) | 9901 | €69,009 | €40,588 | -€28,421 | -41.2% |
| Financial charges | 65/66B | €32,821 | €33,294 | +€473 | +1.4% |
| Recurring financial charges | 65 | €32,821 | €33,294 | +€473 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €36,188 | €7,294 | -€28,894 | -79.8% |
| Transfer from deferred taxes | 780 | €970 | €970 | = | 0.0% |
| Income taxes | 67/77 | €10,918 | €2,982 | -€7,936 | -72.7% |
| Profit (loss) for the period | 9904 | €26,239 | €5,282 | -€20,957 | -79.9% |
| Transfer from tax-exempt reserves | 789 | €2,910 | €2,910 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,149 | €8,192 | -€20,957 | -71.9% |
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 2 October 2026 via checked.be.