IMMO2M: 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.
IMMO2M
Largest movements
- Tangible fixed assets +€838,319
up €838,319 (+13.6%), from €6.2m to €7.0m
of which Land and buildings: +€812,313
- Cash -€756,594
down €756,594 (-96.4%), from €784,739 to €28,145
mainly Investment in fixed assets (net) (-€977,929) and Stocks and contracts (-€641,789)
- Stocks and contracts +€641,789
up €641,789 (+1,599%), from €40,125 to €681,915
- Other debts +€724,623
up €724,623 (+2,467%), from €29,371 to €753,994
- Trade debts +€136,572
up €136,572 (+1,123%), from €12,160 to €148,732
- Debts after one year -€128,198
down €128,198 (-2.2%), from €5.7m to €5.6m
of which Financial debts: -€128,198
- Financial income -€68,678
down €68,678 (-99.0%), from €69,373 to €695
- Depreciation +€30,537
up €30,537 (+28.0%), from €109,074 to €139,611
- Gross operating margin +€8,379
up €8,379 (+3.1%), from €273,731 to €282,111
- Financial charges +€5,579
up €5,579 (+10.6%), from €52,533 to €58,112
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 | €7,127,778 | €7,896,653 | +€768,875 | +10.8% |
| Fixed assets | 21/28 | €6,220,911 | €7,059,229 | +€838,319 | +13.5% |
| Tangible fixed assets | 22/27 | €6,184,083 | €7,022,401 | +€838,319 | +13.6% |
| Land and buildings | 22 | €6,170,404 | €6,982,717 | +€812,313 | +13.2% |
| Plant, machinery and equipment | 23 | €13,678 | €39,684 | +€26,005 | +190% |
| Financial fixed assets | 28 | €36,828 | €36,828 | = | 0.0% |
| Current assets | 29/58 | €906,868 | €837,424 | -€69,444 | -7.7% |
| Stocks and contracts in progress | 3 | €40,125 | €681,915 | +€641,789 | +1,599% |
| Stocks | 30/36 | €40,125 | €681,915 | +€641,789 | +1,599% |
| Amounts receivable within one year | 40/41 | €80,931 | €110,050 | +€29,119 | +36.0% |
| Trade receivables | 40 | €9,887 | €107,686 | +€97,799 | +989% |
| Other amounts receivable | 41 | €71,044 | €2,364 | -€68,680 | -96.7% |
| Cash at bank and in hand | 54/58 | €784,739 | €28,145 | -€756,594 | -96.4% |
| Deferred charges and accrued income | 490/1 | €1,073 | €17,315 | +€16,242 | +1,514% |
| Total equity and liabilities | 10/49 | €7,127,778 | €7,896,653 | +€768,875 | +10.8% |
| Equity | 10/15 | €1,227,728 | €1,289,878 | +€62,150 | +5.1% |
| Contributions | 10/11 | €318,600 | €318,600 | = | 0.0% |
| Reserves | 13 | €906,860 | €970,860 | +€64,000 | +7.1% |
| Non-distributable reserves | 130/1 | €31,860 | €31,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €31,860 | €31,860 | = | 0.0% |
| Distributable reserves | 133 | €875,000 | €939,000 | +€64,000 | +7.3% |
| Profit (loss) carried forward | 14 | €2,268 | €418 | -€1,850 | -81.6% |
| Amounts payable | 17/49 | €5,900,050 | €6,606,775 | +€706,725 | +12.0% |
| Amounts payable after more than one year | 17 | €5,704,024 | €5,575,826 | -€128,198 | -2.2% |
| Financial debts | 170/4 | €2,460,213 | €2,332,016 | -€128,198 | -5.2% |
| Other amounts payable | 178/9 | €3,243,810 | €3,243,810 | = | 0.0% |
| Amounts payable within one year | 42/48 | €192,254 | €1,030,923 | +€838,670 | +436% |
| Current portion of amounts payable after more than one year | 42 | €150,723 | €128,198 | -€22,525 | -14.9% |
| Trade debts | 44 | €12,160 | €148,732 | +€136,572 | +1,123% |
| Suppliers | 440/4 | €12,160 | €148,732 | +€136,572 | +1,123% |
| Other amounts payable | 47/48 | €29,371 | €753,994 | +€724,623 | +2,467% |
| Accrued charges and deferred income | 492/3 | €3,773 | €26 | -€3,747 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,074 | €139,611 | +€30,537 | +28.0% |
| Other operating charges | 640/8 | €22,075 | €22,933 | +€858 | +3.9% |
| Gross operating margin | 9900 | €273,731 | €282,111 | +€8,379 | +3.1% |
| Operating profit (loss) | 9901 | €142,582 | €119,567 | -€23,016 | -16.1% |
| Financial income | 75/76B | €69,373 | €695 | -€68,678 | -99.0% |
| Recurring financial income | 75 | €69,373 | €695 | -€68,678 | -99.0% |
| Financial charges | 65/66B | €52,533 | €58,112 | +€5,579 | +10.6% |
| Recurring financial charges | 65 | €52,533 | €58,112 | +€5,579 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | €159,422 | €62,150 | -€97,273 | -61.0% |
| Profit (loss) for the period | 9904 | €159,422 | €62,150 | -€97,273 | -61.0% |
| Profit (loss) for the period to be appropriated | 9905 | €159,422 | €62,150 | -€97,273 | -61.0% |
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 16 October 2026 via checked.be.