Immoco: 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.
Immoco
Largest movements
- Cash -€1.6m
down €1.6m (-56.2%), from €2.8m to €1.2m
mainly Investment in fixed assets (net) (-€1.4m) and Other debts (-€871,064)
- Receivables within one year -€591,809
down €591,809 (-68.1%), from €868,868 to €277,059
of which Other amounts receivable: -€423,772
- Tangible fixed assets +€507,384
up €507,384 (+5.0%), from €10.1m to €10.6m
of which Land and buildings: +€384,124
- Other debts -€871,064
down €871,064 (-60.5%), from €1.4m to €567,587
- Debts after one year -€737,939
down €737,939 (-14.5%), from €5.1m to €4.4m
- Reserves +€334,972
up €334,972 (+10.6%), from €3.2m to €3.5m
of which Distributable reserves: +€458,677
- Trade debts -€203,099
down €203,099 (-68.9%), from €294,710 to €91,611
- Depreciation +€143,852
up €143,852 (+18.5%), from €776,241 to €920,093
- Taxes -€52,409
down €52,409 (-23.9%), from €219,553 to €167,144
- Financial income -€46,690
down €46,690 (-87.8%), from €53,165 to €6,475
- Financial charges -€28,777
down €28,777 (-28.8%), from €100,063 to €71,286
- Gross operating margin -€22,635
down €22,635 (-1.4%), from €1.6m to €1.6m
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 | €13,860,110 | €12,204,184 | -€1.7m | -11.9% |
| Fixed assets | 21/28 | €10,097,934 | €10,605,318 | +€507,384 | +5.0% |
| Tangible fixed assets | 22/27 | €10,095,455 | €10,602,839 | +€507,384 | +5.0% |
| Land and buildings | 22 | €10,045,512 | €10,429,636 | +€384,124 | +3.8% |
| Plant, machinery and equipment | 23 | €5,967 | €1,609 | -€4,358 | -73.0% |
| Furniture and vehicles | 24 | €43,957 | €171,574 | +€127,618 | +290.3% |
| Other tangible fixed assets | 26 | €19 | €19 | = | 0.0% |
| Financial fixed assets | 28 | €2,479 | €2,479 | = | 0.0% |
| Current assets | 29/58 | €3,762,176 | €1,598,866 | -€2.2m | -57.5% |
| Amounts receivable within one year | 40/41 | €868,868 | €277,059 | -€591,809 | -68.1% |
| Trade receivables | 40 | €316,504 | €148,467 | -€168,037 | -53.1% |
| Other amounts receivable | 41 | €552,364 | €128,592 | -€423,772 | -76.7% |
| Cash at bank and in hand | 54/58 | €2,841,760 | €1,244,148 | -€1.6m | -56.2% |
| Deferred charges and accrued income | 490/1 | €51,548 | €77,659 | +€26,111 | +50.7% |
| Total equity and liabilities | 10/49 | €13,860,110 | €12,204,184 | -€1.7m | -11.9% |
| Equity | 10/15 | €5,324,738 | €5,659,710 | +€334,972 | +6.3% |
| Contributions | 10/11 | €2,038,000 | €2,038,000 | = | 0.0% |
| Capital | 10 | €2,038,000 | €2,038,000 | = | 0.0% |
| Issued capital | 100 | €2,038,000 | €2,038,000 | = | 0.0% |
| Revaluation surpluses | 12 | €121,071 | €121,071 | = | 0.0% |
| Reserves | 13 | €3,165,667 | €3,500,639 | +€334,972 | +10.6% |
| Non-distributable reserves | 130/1 | €203,800 | €203,800 | = | 0.0% |
| Legal reserve | 130 | €203,800 | €203,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,575,537 | €1,451,833 | -€123,705 | -7.9% |
| Distributable reserves | 133 | €1,386,329 | €1,845,006 | +€458,677 | +33.1% |
| Provisions and deferred taxes | 16 | €515,590 | €474,355 | -€41,235 | -8.0% |
| Deferred taxes | 168 | €515,590 | €474,355 | -€41,235 | -8.0% |
| Amounts payable | 17/49 | €8,019,783 | €6,070,119 | -€1.9m | -24.3% |
| Amounts payable after more than one year | 17 | €5,095,278 | €4,357,339 | -€737,939 | -14.5% |
| Financial debts | 170/4 | €5,095,278 | €4,357,339 | -€737,939 | -14.5% |
| Amounts payable within one year | 42/48 | €2,803,584 | €1,654,191 | -€1.1m | -41.0% |
| Current portion of amounts payable after more than one year | 42 | €728,879 | €737,939 | +€9,060 | +1.2% |
| Trade debts | 44 | €294,710 | €91,611 | -€203,099 | -68.9% |
| Suppliers | 440/4 | €294,710 | €91,611 | -€203,099 | -68.9% |
| Taxes, remuneration and social security | 45 | €341,344 | €257,053 | -€84,291 | -24.7% |
| Taxes | 450/3 | €320,435 | €233,280 | -€87,156 | -27.2% |
| Remuneration and social security | 454/9 | €20,909 | €23,773 | +€2,865 | +13.7% |
| Other amounts payable | 47/48 | €1,438,652 | €567,587 | -€871,064 | -60.5% |
| Accrued charges and deferred income | 492/3 | €120,920 | €58,589 | -€62,330 | -51.5% |
| Non-recurring operating income | 76A | €10,000 | €1,841 | -€8,159 | -81.6% |
| Remuneration, social security and pensions | 62 | €109,380 | €113,840 | +€4,460 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €776,241 | €920,093 | +€143,852 | +18.5% |
| Other operating charges | 640/8 | €1,595 | €3,360 | +€1,765 | +110.6% |
| Non-recurring operating charges | 66A | €6,370 | - | -€6,370 | |
| Gross operating margin | 9900 | €1,585,621 | €1,562,986 | -€22,635 | -1.4% |
| Operating profit (loss) | 9901 | €692,035 | €525,693 | -€166,342 | -24.0% |
| Financial income | 75/76B | €53,165 | €6,475 | -€46,690 | -87.8% |
| Recurring financial income | 75 | €53,165 | €6,475 | -€46,690 | -87.8% |
| Financial charges | 65/66B | €100,063 | €71,286 | -€28,777 | -28.8% |
| Recurring financial charges | 65 | €100,063 | €71,286 | -€28,777 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €645,136 | €460,881 | -€184,255 | -28.6% |
| Transfer from deferred taxes | 780 | €41,235 | €41,234 | -€1 | 0.0% |
| Income taxes | 67/77 | €219,553 | €167,144 | -€52,409 | -23.9% |
| Profit (loss) for the period | 9904 | €466,818 | €334,971 | -€131,847 | -28.2% |
| Transfer from tax-exempt reserves | 789 | €123,705 | €123,705 | +€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €590,523 | €458,677 | -€131,846 | -22.3% |
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 11 October 2026 via checked.be.