IMMOCASE: 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.
IMMOCASE
Largest movements
- Receivables within one year -€16,663
down €16,663 (-28.0%), from €59,556 to €42,894
- Tangible fixed assets +€13,495
up €13,495 (+4.4%), from €303,792 to €317,287
of which Land and buildings: +€15,190
- Reserves +€21,394
up €21,394 (+46.4%), from €46,110 to €67,504
of which Distributable reserves: +€21,394
- Trade debts -€13,913
down €13,913 (-87.8%), from €15,851 to €1,938
- Tax, wage and social debts -€5,633
down €5,633 (-39.9%), from €14,109 to €8,477
- Gross operating margin +€12,465
up €12,465 (+21.9%), from €56,973 to €69,438
- Depreciation +€5,101
up €5,101 (+15.8%), from €32,204 to €37,306
- Taxes +€3,534
up €3,534 (+53.9%), from €6,558 to €10,092
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 | €369,943 | €368,453 | -€1,489 | -0.4% |
| Fixed assets | 21/28 | €303,792 | €317,287 | +€13,495 | +4.4% |
| Tangible fixed assets | 22/27 | €303,792 | €317,287 | +€13,495 | +4.4% |
| Land and buildings | 22 | €237,200 | €252,390 | +€15,190 | +6.4% |
| Plant, machinery and equipment | 23 | €66,592 | €64,897 | -€1,695 | -2.5% |
| Current assets | 29/58 | €66,151 | €51,167 | -€14,984 | -22.7% |
| Amounts receivable within one year | 40/41 | €59,556 | €42,894 | -€16,663 | -28.0% |
| Trade receivables | 40 | €59,556 | €42,894 | -€16,663 | -28.0% |
| Cash at bank and in hand | 54/58 | €5,649 | €7,324 | +€1,675 | +29.7% |
| Deferred charges and accrued income | 490/1 | €945 | €949 | +€4 | +0.4% |
| Total equity and liabilities | 10/49 | €369,943 | €368,453 | -€1,489 | -0.4% |
| Equity | 10/15 | €129,762 | €151,156 | +€21,394 | +16.5% |
| Contributions | 10/11 | €61,546 | €61,546 | = | 0.0% |
| Capital | 10 | €61,546 | €61,546 | = | 0.0% |
| Issued capital | 100 | €61,546 | €61,546 | = | 0.0% |
| Reserves | 13 | €46,110 | €67,504 | +€21,394 | +46.4% |
| Non-distributable reserves | 130/1 | €2,200 | €2,200 | = | 0.0% |
| Legal reserve | 130 | €2,200 | €2,200 | = | 0.0% |
| Distributable reserves | 133 | €43,910 | €65,304 | +€21,394 | +48.7% |
| Profit (loss) carried forward | 14 | €22,106 | €22,106 | = | 0.0% |
| Amounts payable | 17/49 | €240,180 | €217,297 | -€22,883 | -9.5% |
| Amounts payable within one year | 42/48 | €240,160 | €217,285 | -€22,875 | -9.5% |
| Trade debts | 44 | €15,851 | €1,938 | -€13,913 | -87.8% |
| Suppliers | 440/4 | €15,851 | €1,938 | -€13,913 | -87.8% |
| Taxes, remuneration and social security | 45 | €14,109 | €8,477 | -€5,633 | -39.9% |
| Taxes | 450/3 | €14,109 | €8,477 | -€5,633 | -39.9% |
| Other amounts payable | 47/48 | €210,200 | €206,870 | -€3,330 | -1.6% |
| Accrued charges and deferred income | 492/3 | €20 | €12 | -€8 | -38.2% |
| Non-recurring operating income | 76A | €4,736 | - | -€4,736 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,204 | €37,306 | +€5,101 | +15.8% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €56,973 | €69,438 | +€12,465 | +21.9% |
| Operating profit (loss) | 9901 | €24,381 | €31,732 | +€7,351 | +30.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €336 | €247 | -€89 | -26.6% |
| Recurring financial charges | 65 | €336 | €247 | -€89 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €24,045 | €31,486 | +€7,441 | +30.9% |
| Income taxes | 67/77 | €6,558 | €10,092 | +€3,534 | +53.9% |
| Profit (loss) for the period | 9904 | €17,488 | €21,394 | +€3,906 | +22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,488 | €21,394 | +€3,906 | +22.3% |
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.