IMMOCO: 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.
IMMOCO
Largest movements
- Financial fixed assets +€1.2m
up €1.2m (+599.9%), from €200,050 to €1.4m
- Receivables within one year -€835,282
down €835,282 (-28.2%), from €3.0m to €2.1m
of which Other amounts receivable: -€835,282
- Cash +€355,422
up €355,422 (+807.1%), from €44,035 to €399,457
mainly Receivables within one year (+€835,282) and Other debts (+€698,876)
- Stocks and contracts +€191,584
up €191,584 (+8.0%), from €2.4m to €2.6m
- Other debts +€698,876
up €698,876 (+72.0%), from €969,998 to €1.7m
- Debts after one year -€677,645
down €677,645 (-28.2%), from €2.4m to €1.7m
of which Other amounts payable: -€1.5m
- Short-term financial debts +€500,000
up €500,000 (+14.5%), from €3.4m to €3.9m
- Current portion of long-term debt +€357,547
up €357,547 (+811.0%), from €44,087 to €401,634
- Gross operating margin +€219,890
up €219,890, from -€4,440 to €215,450
- Financial charges -€104,839
down €104,839 (-38.8%), from €270,254 to €165,416
- Taxes +€11,441
new in 2025: €11,441
- Financial income -€8,768
down €8,768 (-14.5%), from €60,361 to €51,593
- Depreciation +€2,404
up €2,404 (+5.3%), from €45,531 to €47,935
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 | €7,546,980 | €8,525,570 | +€978,590 | +13.0% |
| Fixed assets | 21/28 | €1,787,901 | €3,015,020 | +€1.2m | +68.6% |
| Tangible fixed assets | 22/27 | €1,587,851 | €1,614,970 | +€27,119 | +1.7% |
| Land and buildings | 22 | €1,586,128 | €1,557,179 | -€28,950 | -1.8% |
| Furniture and vehicles | 24 | €1,723 | €1,114 | -€609 | -35.3% |
| Leasing and similar rights | 25 | - | €56,678 | +€56,678 | |
| Financial fixed assets | 28 | €200,050 | €1,400,050 | +€1.2m | +599.9% |
| Current assets | 29/58 | €5,759,079 | €5,510,550 | -€248,529 | -4.3% |
| Stocks and contracts in progress | 3 | €2,407,743 | €2,599,328 | +€191,584 | +8.0% |
| Stocks | 30/36 | €2,407,743 | €2,599,328 | +€191,584 | +8.0% |
| Amounts receivable within one year | 40/41 | €2,957,097 | €2,121,815 | -€835,282 | -28.2% |
| Trade receivables | 40 | €13,915 | €13,915 | = | 0.0% |
| Other amounts receivable | 41 | €2,943,182 | €2,107,900 | -€835,282 | -28.4% |
| Cash at bank and in hand | 54/58 | €44,035 | €399,457 | +€355,422 | +807.1% |
| Deferred charges and accrued income | 490/1 | €350,204 | €389,950 | +€39,746 | +11.3% |
| Total equity and liabilities | 10/49 | €7,546,980 | €8,525,570 | +€978,590 | +13.0% |
| Equity | 10/15 | €648,205 | €686,492 | +€38,287 | +5.9% |
| Contributions | 10/11 | €135,000 | €135,000 | = | 0.0% |
| Reserves | 13 | €69,665 | €69,665 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €24,895 | +€24,895 | |
| Reserves not available under the articles | 1311 | - | €24,895 | +€24,895 | |
| Tax-exempt reserves | 132 | €44 | €44 | = | 0.0% |
| Distributable reserves | 133 | €69,620 | €44,725 | -€24,895 | -35.8% |
| Profit (loss) carried forward | 14 | €443,540 | €481,827 | +€38,287 | +8.6% |
| Amounts payable | 17/49 | €6,898,776 | €7,839,078 | +€940,303 | +13.6% |
| Amounts payable after more than one year | 17 | €2,400,432 | €1,722,787 | -€677,645 | -28.2% |
| Financial debts | 170/4 | €875,181 | €1,722,787 | +€847,606 | +96.8% |
| Other amounts payable | 178/9 | €1,525,251 | €0 | -€1.5m | -100.0% |
| Amounts payable within one year | 42/48 | €4,466,874 | €6,061,687 | +€1.6m | +35.7% |
| Current portion of amounts payable after more than one year | 42 | €44,087 | €401,634 | +€357,547 | +811.0% |
| Financial debts | 43 | €3,442,000 | €3,942,000 | +€500,000 | +14.5% |
| Credit institutions | 430/8 | €3,442,000 | €3,942,000 | +€500,000 | +14.5% |
| Trade debts | 44 | €10,788 | €49,114 | +€38,326 | +355.3% |
| Suppliers | 440/4 | €10,788 | €49,114 | +€38,326 | +355.3% |
| Taxes, remuneration and social security | 45 | - | €65 | +€65 | |
| Taxes | 450/3 | - | €65 | +€65 | |
| Other amounts payable | 47/48 | €969,998 | €1,668,874 | +€698,876 | +72.0% |
| Accrued charges and deferred income | 492/3 | €31,470 | €54,605 | +€23,135 | +73.5% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,531 | €47,935 | +€2,404 | +5.3% |
| Other operating charges | 640/8 | €5,518 | €3,964 | -€1,554 | -28.2% |
| Gross operating margin | 9900 | -€4,440 | €215,450 | +€219,890 | |
| Operating profit (loss) | 9901 | -€55,489 | €163,551 | +€219,040 | |
| Financial income | 75/76B | €60,361 | €51,593 | -€8,768 | -14.5% |
| Recurring financial income | 75 | €60,361 | €51,593 | -€8,768 | -14.5% |
| Financial charges | 65/66B | €270,254 | €165,416 | -€104,839 | -38.8% |
| Recurring financial charges | 65 | €270,254 | €165,416 | -€104,839 | -38.8% |
| Profit (loss) for the period before taxes | 9903 | -€265,382 | €49,729 | +€315,110 | |
| Income taxes | 67/77 | - | €11,441 | +€11,441 | |
| Profit (loss) for the period | 9904 | -€265,382 | €38,287 | +€303,669 | |
| Profit (loss) for the period to be appropriated | 9905 | -€265,382 | €38,287 | +€303,669 |
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 6 October 2026 via checked.be.