IMMODA: 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.
IMMODA
Largest movements
- Receivables within one year +€350,000
new in 2025: €350,000
- Receivables after one year -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Deferred charges and accrued income -€15,105
down €15,105 (-100.0%), from €15,105 to €0
- Tangible fixed assets -€14,960
down €14,960 (-3.7%), from €398,945 to €383,985
- Cash -€9,363
down €9,363 (-100.0%), from €9,363 to €0
mainly Receivables within one year (-€350,000) and Net result for the year (-€84,477)
- Short-term financial debts +€342,446
new in 2025: €342,446
- Profit (loss) carried forward -€84,477
down €84,477 (-5.6%), from -€1.5m to -€1.6m
- Debts after one year -€31,003
down €31,003 (-6.6%), from €471,297 to €440,294
of which Financial debts: -€31,003
- Accrued charges and deferred income -€12,238
down €12,238 (-67.1%), from €18,250 to €6,013
- Other debts -€8,385
down €8,385 (-3.3%), from €252,847 to €244,462
- Write-downs -€18,206
down €18,206 (-100.0%), from €18,206 to €0
- Gross operating margin -€8,221
down €8,221 (-11.0%), from €74,555 to €66,335
- Financial charges +€4,712
up €4,712 (+27.6%), from €17,061 to €21,773
- Other operating charges +€1,629
up €1,629 (+13.1%), from €12,451 to €14,080
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 | €523,413 | €733,985 | +€210,572 | +40.2% |
| Fixed assets | 21/28 | €398,945 | €383,985 | -€14,960 | -3.7% |
| Tangible fixed assets | 22/27 | €398,945 | €383,985 | -€14,960 | -3.7% |
| Land and buildings | 22 | €398,945 | €383,985 | -€14,960 | -3.7% |
| Current assets | 29/58 | €124,468 | €350,000 | +€225,532 | +181.2% |
| Amounts receivable after more than one year | 29 | €100,000 | €0 | -€100,000 | -100.0% |
| Other amounts receivable | 291 | €100,000 | €0 | -€100,000 | -100.0% |
| Amounts receivable within one year | 40/41 | - | €350,000 | +€350,000 | |
| Other amounts receivable | 41 | - | €350,000 | +€350,000 | |
| Cash at bank and in hand | 54/58 | €9,363 | €0 | -€9,363 | -100.0% |
| Deferred charges and accrued income | 490/1 | €15,105 | €0 | -€15,105 | -100.0% |
| Total equity and liabilities | 10/49 | €523,413 | €733,985 | +€210,572 | +40.2% |
| Equity | 10/15 | -€249,053 | -€333,530 | -€84,477 | -33.9% |
| Contributions | 10/11 | €1,242,749 | €1,242,749 | = | 0.0% |
| Reserves | 13 | €11,775 | €11,775 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,775 | €11,775 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,775 | €11,775 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,503,578 | -€1,588,055 | -€84,477 | -5.6% |
| Amounts payable | 17/49 | €772,466 | €1,067,515 | +€295,049 | +38.2% |
| Amounts payable after more than one year | 17 | €471,297 | €440,294 | -€31,003 | -6.6% |
| Financial debts | 170/4 | €365,297 | €334,294 | -€31,003 | -8.5% |
| Other amounts payable | 178/9 | €106,000 | €106,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €282,919 | €621,208 | +€338,289 | +119.6% |
| Current portion of amounts payable after more than one year | 42 | €30,072 | €31,003 | +€930 | +3.1% |
| Financial debts | 43 | - | €342,446 | +€342,446 | |
| Credit institutions | 430/8 | - | €342,446 | +€342,446 | |
| Trade debts | 44 | €0 | €3,299 | +€3,299 | |
| Suppliers | 440/4 | €0 | €3,299 | +€3,299 | |
| Other amounts payable | 47/48 | €252,847 | €244,462 | -€8,385 | -3.3% |
| Accrued charges and deferred income | 492/3 | €18,250 | €6,013 | -€12,238 | -67.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,960 | €14,960 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €18,206 | €0 | -€18,206 | -100.0% |
| Other operating charges | 640/8 | €12,451 | €14,080 | +€1,629 | +13.1% |
| Non-recurring operating charges | 66A | - | €100,000 | +€100,000 | |
| Gross operating margin | 9900 | €74,555 | €66,335 | -€8,221 | -11.0% |
| Operating profit (loss) | 9901 | €28,938 | -€62,705 | -€91,643 | |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €17,061 | €21,773 | +€4,712 | +27.6% |
| Recurring financial charges | 65 | €17,061 | €21,773 | +€4,712 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | €11,877 | -€84,477 | -€96,355 | |
| Profit (loss) for the period | 9904 | €11,877 | -€84,477 | -€96,355 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,877 | -€84,477 | -€96,355 |
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.