IMMOBAX: 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.
IMMOBAX
Largest movements
- Tangible fixed assets -€35,629
down €35,629 (-13.1%), from €272,351 to €236,722
of which Furniture and vehicles: -€27,731
- Receivables within one year +€34,380
new in 2025: €34,380
of which Trade receivables: +€27,952
- Cash -€7,576
down €7,576 (-49.2%), from €15,403 to €7,827
mainly Contributions, distributions and other (-€50,000) and Receivables within one year (-€34,380)
- Current investments -€4,749
down €4,749 (-5.9%), from €80,028 to €75,279
- Reserves -€13,715
down €13,715 (-5.1%), from €271,555 to €257,840
of which Distributable reserves: -€13,715
- Trade debts +€5,683
up €5,683 (+18065.4%), from €31 to €5,715
- Tax, wage and social debts -€5,227
no longer reported in 2025 (was €5,227)
- Financial income -€27,054
down €27,054 (-81.2%), from €33,300 to €6,247
- Taxes -€7,579
down €7,579 (-28.9%), from €26,258 to €18,679
- Gross operating margin +€5,935
up €5,935 (+5.4%), from €109,519 to €115,454
- Depreciation +€1,718
up €1,718 (+3.6%), from €48,023 to €49,741
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 | €369,407 | €356,148 | -€13,259 | -3.6% |
| Fixed assets | 21/28 | €272,401 | €236,772 | -€35,629 | -13.1% |
| Tangible fixed assets | 22/27 | €272,351 | €236,722 | -€35,629 | -13.1% |
| Land and buildings | 22 | €48,243 | €48,243 | = | 0.0% |
| Furniture and vehicles | 24 | €100,956 | €73,225 | -€27,731 | -27.5% |
| Other tangible fixed assets | 26 | €123,152 | €115,254 | -€7,898 | -6.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €97,005 | €119,376 | +€22,370 | +23.1% |
| Amounts receivable within one year | 40/41 | - | €34,380 | +€34,380 | |
| Trade receivables | 40 | - | €27,952 | +€27,952 | |
| Other amounts receivable | 41 | - | €6,429 | +€6,429 | |
| Current investments | 50/53 | €80,028 | €75,279 | -€4,749 | -5.9% |
| Cash at bank and in hand | 54/58 | €15,403 | €7,827 | -€7,576 | -49.2% |
| Deferred charges and accrued income | 490/1 | €1,575 | €1,890 | +€315 | +20.0% |
| Total equity and liabilities | 10/49 | €369,407 | €356,148 | -€13,259 | -3.6% |
| Equity | 10/15 | €363,475 | €349,760 | -€13,715 | -3.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €271,555 | €257,840 | -€13,715 | -5.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €265,355 | €251,640 | -€13,715 | -5.2% |
| Profit (loss) carried forward | 14 | €29,920 | €29,920 | = | 0.0% |
| Amounts payable | 17/49 | €5,932 | €6,388 | +€456 | +7.7% |
| Amounts payable within one year | 42/48 | €5,932 | €6,388 | +€456 | +7.7% |
| Trade debts | 44 | €31 | €5,715 | +€5,683 | +18065.4% |
| Suppliers | 440/4 | €31 | €5,715 | +€5,683 | +18065.4% |
| Taxes, remuneration and social security | 45 | €5,227 | - | -€5,227 | |
| Taxes | 450/3 | €5,227 | - | -€5,227 | |
| Other amounts payable | 47/48 | €673 | €673 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,023 | €49,741 | +€1,718 | +3.6% |
| Other operating charges | 640/8 | €16,362 | €16,805 | +€443 | +2.7% |
| Gross operating margin | 9900 | €109,519 | €115,454 | +€5,935 | +5.4% |
| Operating profit (loss) | 9901 | €45,134 | €48,908 | +€3,774 | +8.4% |
| Financial income | 75/76B | €33,300 | €6,247 | -€27,054 | -81.2% |
| Recurring financial income | 75 | €33,300 | €6,247 | -€27,054 | -81.2% |
| Financial charges | 65/66B | €321 | €190 | -€131 | -40.8% |
| Recurring financial charges | 65 | €321 | €190 | -€131 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | €78,113 | €54,964 | -€23,149 | -29.6% |
| Income taxes | 67/77 | €26,258 | €18,679 | -€7,579 | -28.9% |
| Profit (loss) for the period | 9904 | €51,855 | €36,285 | -€15,569 | -30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,855 | €36,285 | -€15,569 | -30.0% |
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 7 October 2026 via checked.be.