IMMOAC: 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.
IMMOAC
Largest movements
- Tangible fixed assets -€35,895
down €35,895 (-5.4%), from €667,880 to €631,985
- Cash +€18,183
up €18,183 (+16.3%), from €111,358 to €129,541
mainly Depreciation (+€35,895) and Accrued charges and deferred income (+€700)
- Reserves -€13,420
down €13,420 (-4.1%), from €331,273 to €317,853
of which Tax-exempt reserves: -€13,420
- Gross operating margin -€7,523
down €7,523 (-21.6%), from €34,898 to €27,375
- Taxes -€1,800
down €1,800 (-81.2%), from €2,217 to €417
- Financial charges -€1,113
down €1,113 (-29.4%), from €3,793 to €2,680
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 | €795,987 | €779,318 | -€16,670 | -2.1% |
| Fixed assets | 21/28 | €667,880 | €631,985 | -€35,895 | -5.4% |
| Tangible fixed assets | 22/27 | €667,880 | €631,985 | -€35,895 | -5.4% |
| Land and buildings | 22 | €667,880 | €631,985 | -€35,895 | -5.4% |
| Current assets | 29/58 | €128,107 | €147,333 | +€19,226 | +15.0% |
| Amounts receivable within one year | 40/41 | €16,749 | €17,478 | +€729 | +4.4% |
| Other amounts receivable | 41 | €16,749 | €17,478 | +€729 | +4.4% |
| Cash at bank and in hand | 54/58 | €111,358 | €129,541 | +€18,183 | +16.3% |
| Deferred charges and accrued income | 490/1 | - | €314 | +€314 | |
| Total equity and liabilities | 10/49 | €795,987 | €779,318 | -€16,670 | -2.1% |
| Equity | 10/15 | €638,322 | €626,417 | -€11,905 | -1.9% |
| Contributions | 10/11 | €174,000 | €174,000 | = | 0.0% |
| Capital | 10 | €174,000 | €174,000 | = | 0.0% |
| Issued capital | 100 | €174,000 | €174,000 | = | 0.0% |
| Reserves | 13 | €331,273 | €317,853 | -€13,420 | -4.1% |
| Non-distributable reserves | 130/1 | €17,400 | €17,400 | = | 0.0% |
| Legal reserve | 130 | €17,400 | €17,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €313,081 | €299,661 | -€13,420 | -4.3% |
| Distributable reserves | 133 | €792 | €792 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,049 | €134,563 | +€1,515 | +1.1% |
| Provisions and deferred taxes | 16 | €104,360 | €99,887 | -€4,473 | -4.3% |
| Deferred taxes | 168 | €104,360 | €99,887 | -€4,473 | -4.3% |
| Amounts payable | 17/49 | €53,306 | €53,014 | -€292 | -0.5% |
| Amounts payable within one year | 42/48 | €53,306 | €52,314 | -€992 | -1.9% |
| Trade debts | 44 | €620 | €32 | -€588 | -94.8% |
| Suppliers | 440/4 | €620 | €32 | -€588 | -94.8% |
| Taxes, remuneration and social security | 45 | €3,341 | €3,250 | -€91 | -2.7% |
| Taxes | 450/3 | €3,341 | €3,250 | -€91 | -2.7% |
| Other amounts payable | 47/48 | €49,345 | €49,032 | -€313 | -0.6% |
| Accrued charges and deferred income | 492/3 | - | €700 | +€700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,895 | €35,895 | -€0 | 0.0% |
| Other operating charges | 640/8 | €5,575 | €5,341 | -€234 | -4.2% |
| Gross operating margin | 9900 | €34,898 | €27,375 | -€7,523 | -21.6% |
| Operating profit (loss) | 9901 | -€6,572 | -€13,862 | -€7,289 | -110.9% |
| Financial income | 75/76B | €511 | €580 | +€69 | +13.5% |
| Recurring financial income | 75 | €511 | €580 | +€69 | +13.5% |
| Financial charges | 65/66B | €3,793 | €2,680 | -€1,113 | -29.4% |
| Recurring financial charges | 65 | €3,793 | €2,680 | -€1,113 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,855 | -€15,962 | -€6,107 | -62.0% |
| Transfer from deferred taxes | 780 | - | €4,473 | +€4,473 | |
| Income taxes | 67/77 | €2,217 | €417 | -€1,800 | -81.2% |
| Profit (loss) for the period | 9904 | -€12,071 | -€11,905 | +€166 | +1.4% |
| Transfer from tax-exempt reserves | 789 | €17,893 | €13,420 | -€4,473 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,822 | €1,515 | -€4,307 | -74.0% |
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 12 October 2026 via checked.be.