IMMOBOAT: 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.
What changed
IMMOBOAT
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€751,280
2024 · €124,427-€875,707
Equity
€1.6m
2024 · €2.3m-€751,280
Cash
€3,687
2024 · €3,036+€651
Balance sheet total
€8.2m
2024 · €8.8m-€595,788
Largest movements
Assets
- Receivables within one year -€1.1m
down €1.1m (-72.1%), from €1.5m to €420,329
of which Other amounts receivable: -€977,728
- Tangible fixed assets +€476,068
up €476,068 (+6.7%), from €7.1m to €7.6m
of which Land and buildings: +€418,326
Equity and liabilities
- Profit (loss) carried forward -€946,630
down €946,630 (-132.9%), from -€712,420 to -€1.7m
- Other debts +€285,937
up €285,937 (+304.0%), from €94,063 to €380,000
- Trade debts -€212,080
down €212,080 (-44.0%), from €482,432 to €270,352
- Reserves +€195,350
up €195,350 (+92.6%), from €211,001 to €406,351
of which Tax-exempt reserves: +€195,350
- Tax, wage and social debts -€100,445
down €100,445 (-93.6%), from €107,369 to €6,924
Income statement
- Gross operating margin +€103,011
up €103,011 (+19.2%), from €537,019 to €640,029
- Other operating charges -€102,924
down €102,924 (-68.6%), from €150,137 to €47,213
- Taxes +€74,390
up €74,390 (+35465.8%), from €210 to €74,599
- Write-downs +€18,699
new in 2025: €18,699
- Financial charges +€12,487
up €12,487 (+14.4%), from €86,679 to €99,166
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.
Result 2024
€124,427
Gross operating margin
+€103,011
Depreciation
-€10,341
Write-downs
-€18,699
Other operating charges
+€102,924
Other operating items
-€956,093
Financial income
+€484
Financial charges
-€12,487
Taxes
-€74,390
Deferred taxes and other
-€10,117
Result 2025
-€751,280
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.
From operations
+€430,096
Investment
-€538,983
Financing
+€109,539
Cash 2024
€3,036
From operations (derived)
+€430,096
Net result for the year
-€751,280
Depreciation
+€62,915
Receivables within one year
+€1.1m
Deferred charges and accrued income
-€11,798
Provisions
+€65,117
Trade debts
-€212,080
Tax, wage and social debts
-€100,445
Advances received
+€14,643
Other debts
+€285,937
Accrued charges and deferred income
-€7,219
Investment (derived)
-€538,983
Investment in fixed assets (net)
-€538,983
Financing
+€109,539
Debts after one year
+€48,979
Current portion of long-term debt
+€44,868
Short-term financial debts
+€15,693
Cash 2025
€3,687
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,754,687 | €8,158,899 | -€595,788 | -6.8% |
| Fixed assets | 21/28 | €7,246,846 | €7,722,914 | +€476,068 | +6.6% |
| Tangible fixed assets | 22/27 | €7,096,846 | €7,572,914 | +€476,068 | +6.7% |
| Land and buildings | 22 | €7,035,461 | €7,453,788 | +€418,326 | +5.9% |
| Plant, machinery and equipment | 23 | €4,892 | €4,272 | -€620 | -12.7% |
| Furniture and vehicles | 24 | €33,528 | €4,327 | -€29,202 | -87.1% |
| Leasing and similar rights | 25 | €13,174 | €13,976 | +€802 | +6.1% |
| Other tangible fixed assets | 26 | €9,790 | €9,730 | -€60 | -0.6% |
| Assets under construction and advance payments | 27 | - | €86,821 | +€86,821 | |
| Financial fixed assets | 28 | €150,000 | €150,000 | = | 0.0% |
| Current assets | 29/58 | €1,507,841 | €435,985 | -€1.1m | -71.1% |
| Amounts receivable within one year | 40/41 | €1,504,635 | €420,329 | -€1.1m | -72.1% |
| Trade receivables | 40 | €223,310 | €116,732 | -€106,578 | -47.7% |
| Other amounts receivable | 41 | €1,281,325 | €303,598 | -€977,728 | -76.3% |
| Cash at bank and in hand | 54/58 | €3,036 | €3,687 | +€651 | +21.5% |
| Deferred charges and accrued income | 490/1 | €171 | €11,969 | +€11,798 | +6901.8% |
| Total equity and liabilities | 10/49 | €8,754,687 | €8,158,899 | -€595,788 | -6.8% |
| Equity | 10/15 | €2,309,636 | €1,558,356 | -€751,280 | -32.5% |
| Contributions | 10/11 | €2,811,056 | €2,811,056 | = | 0.0% |
| Capital | 10 | €2,811,056 | €2,811,056 | = | 0.0% |
| Issued capital | 100 | €2,811,214 | €2,811,214 | = | 0.0% |
| Uncalled capital | 101 | €158 | €158 | = | 0.0% |
| Reserves | 13 | €211,001 | €406,351 | +€195,350 | +92.6% |
| Non-distributable reserves | 130/1 | €45,740 | €45,740 | = | 0.0% |
| Legal reserve | 130 | €37,184 | €37,184 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,556 | €8,556 | = | 0.0% |
| Tax-exempt reserves | 132 | €165,260 | €360,610 | +€195,350 | +118.2% |
| Profit (loss) carried forward | 14 | -€712,420 | -€1,659,050 | -€946,630 | -132.9% |
| Provisions and deferred taxes | 16 | €55,000 | €120,117 | +€65,117 | +118.4% |
| Deferred taxes | 168 | €55,000 | €120,117 | +€65,117 | +118.4% |
| Amounts payable | 17/49 | €6,390,051 | €6,480,426 | +€90,375 | +1.4% |
| Amounts payable after more than one year | 17 | €5,421,794 | €5,470,773 | +€48,979 | +0.9% |
| Financial debts | 170/4 | €2,539,681 | €2,717,070 | +€177,389 | +7.0% |
| Other amounts payable | 178/9 | €2,882,113 | €2,753,703 | -€128,411 | -4.5% |
| Amounts payable within one year | 42/48 | €917,587 | €966,202 | +€48,615 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €233,722 | €278,590 | +€44,868 | +19.2% |
| Financial debts | 43 | - | €15,693 | +€15,693 | |
| Credit institutions | 430/8 | - | €15,693 | +€15,693 | |
| Trade debts | 44 | €482,432 | €270,352 | -€212,080 | -44.0% |
| Suppliers | 440/4 | €482,432 | €270,352 | -€212,080 | -44.0% |
| Advances received on contracts in progress | 46 | - | €14,643 | +€14,643 | |
| Taxes, remuneration and social security | 45 | €107,369 | €6,924 | -€100,445 | -93.6% |
| Taxes | 450/3 | €107,369 | €6,924 | -€100,445 | -93.6% |
| Other amounts payable | 47/48 | €94,063 | €380,000 | +€285,937 | +304.0% |
| Accrued charges and deferred income | 492/3 | €50,670 | €43,452 | -€7,219 | -14.2% |
| Non-recurring operating income | 76A | - | €102,169 | +€102,169 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,575 | €62,915 | +€10,341 | +19.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €18,699 | +€18,699 | |
| Other operating charges | 640/8 | €150,137 | €47,213 | -€102,924 | -68.6% |
| Non-recurring operating charges | 66A | €68,000 | €1,024,093 | +€956,093 | +1406.0% |
| Gross operating margin | 9900 | €537,019 | €640,029 | +€103,011 | +19.2% |
| Operating profit (loss) | 9901 | €266,307 | -€512,891 | -€779,198 | |
| Financial income | 75/76B | €9 | €493 | +€484 | +5516.6% |
| Recurring financial income | 75 | €9 | €493 | +€484 | +5516.6% |
| Financial charges | 65/66B | €86,679 | €99,166 | +€12,487 | +14.4% |
| Recurring financial charges | 65 | €86,679 | €99,166 | +€12,487 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €179,636 | -€611,564 | -€791,200 | |
| Transfer to deferred taxes | 680 | €55,000 | €65,117 | +€10,117 | +18.4% |
| Income taxes | 67/77 | €210 | €74,599 | +€74,390 | +35465.8% |
| Profit (loss) for the period | 9904 | €124,427 | -€751,280 | -€875,707 | |
| Transfer to tax-exempt reserves | 689 | €165,000 | €195,350 | +€30,350 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,573 | -€946,630 | -€906,057 | -2233.1% |
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 10 October 2026 via checked.be.