IMMODEC - NAMUR: 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.
IMMODEC - NAMUR
Largest movements
- Current investments +€344,982
up €344,982 (+34.1%), from €1.0m to €1.4m
- Receivables within one year +€310,024
up €310,024 (+443.4%), from €69,912 to €379,936
of which Other amounts receivable: +€316,200
- Tangible fixed assets -€123,307
down €123,307 (-4.5%), from €2.7m to €2.6m
of which Land and buildings: -€117,776
- Other debts +€675,705
up €675,705 (+103.1%), from €655,351 to €1.3m
- Debts after one year -€441,954
down €441,954 (-24.0%), from €1.8m to €1.4m
- Reserves +€353,240
up €353,240 (+14.9%), from €2.4m to €2.7m
of which Distributable reserves: +€353,240
- Financial income -€98,171
down €98,171 (-24.5%), from €401,306 to €303,134
- Gross operating margin +€10,014
up €10,014 (+2.2%), from €450,403 to €460,416
- Taxes -€7,402
down €7,402 (-8.4%), from €87,934 to €80,532
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 | €6,104,954 | €6,603,888 | +€498,934 | +8.2% |
| Fixed assets | 21/28 | €4,943,489 | €4,820,181 | -€123,307 | -2.5% |
| Tangible fixed assets | 22/27 | €2,729,613 | €2,606,305 | -€123,307 | -4.5% |
| Land and buildings | 22 | €2,691,659 | €2,573,883 | -€117,776 | -4.4% |
| Plant, machinery and equipment | 23 | €37,440 | €32,167 | -€5,273 | -14.1% |
| Furniture and vehicles | 24 | €514 | €256 | -€259 | -50.3% |
| Financial fixed assets | 28 | €2,213,876 | €2,213,876 | = | 0.0% |
| Current assets | 29/58 | €1,161,466 | €1,783,707 | +€622,241 | +53.6% |
| Amounts receivable within one year | 40/41 | €69,912 | €379,936 | +€310,024 | +443.4% |
| Trade receivables | 40 | €9,912 | €3,736 | -€6,176 | -62.3% |
| Other amounts receivable | 41 | €60,000 | €376,200 | +€316,200 | +527.0% |
| Current investments | 50/53 | €1,011,336 | €1,356,318 | +€344,982 | +34.1% |
| Cash at bank and in hand | 54/58 | €77,562 | €47,233 | -€30,329 | -39.1% |
| Deferred charges and accrued income | 490/1 | €2,655 | €220 | -€2,435 | -91.7% |
| Total equity and liabilities | 10/49 | €6,104,954 | €6,603,888 | +€498,934 | +8.2% |
| Equity | 10/15 | €3,282,050 | €3,598,699 | +€316,650 | +9.6% |
| Contributions | 10/11 | €119,250 | €119,250 | = | 0.0% |
| Capital | 10 | €119,250 | €119,250 | = | 0.0% |
| Issued capital | 100 | €119,250 | €119,250 | = | 0.0% |
| Reserves | 13 | €2,364,150 | €2,717,390 | +€353,240 | +14.9% |
| Non-distributable reserves | 130/1 | €45,000 | €45,000 | = | 0.0% |
| Legal reserve | 130 | €45,000 | €45,000 | = | 0.0% |
| Distributable reserves | 133 | €2,319,150 | €2,672,390 | +€353,240 | +15.2% |
| Profit (loss) carried forward | 14 | €798,650 | €762,059 | -€36,590 | -4.6% |
| Amounts payable | 17/49 | €2,822,905 | €3,005,189 | +€182,284 | +6.5% |
| Amounts payable after more than one year | 17 | €1,841,757 | €1,399,803 | -€441,954 | -24.0% |
| Financial debts | 170/4 | €1,841,757 | €1,399,803 | -€441,954 | -24.0% |
| Amounts payable within one year | 42/48 | €909,253 | €1,536,763 | +€627,510 | +69.0% |
| Current portion of amounts payable after more than one year | 42 | €217,311 | €194,103 | -€23,208 | -10.7% |
| Trade debts | 44 | €4,855 | €6,888 | +€2,033 | +41.9% |
| Suppliers | 440/4 | €4,855 | €6,888 | +€2,033 | +41.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €31,736 | €4,716 | -€27,020 | -85.1% |
| Taxes | 450/3 | €31,736 | €4,716 | -€27,020 | -85.1% |
| Other amounts payable | 47/48 | €655,351 | €1,331,056 | +€675,705 | +103.1% |
| Accrued charges and deferred income | 492/3 | €71,895 | €68,623 | -€3,272 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123,307 | €123,307 | -€0 | 0.0% |
| Other operating charges | 640/8 | €45,047 | €49,278 | +€4,231 | +9.4% |
| Gross operating margin | 9900 | €450,403 | €460,416 | +€10,014 | +2.2% |
| Operating profit (loss) | 9901 | €282,049 | €287,831 | +€5,783 | +2.1% |
| Financial income | 75/76B | €401,306 | €303,134 | -€98,171 | -24.5% |
| Recurring financial income | 75 | €401,306 | €303,134 | -€98,171 | -24.5% |
| Financial charges | 65/66B | €78,845 | €83,034 | +€4,189 | +5.3% |
| Recurring financial charges | 65 | €78,845 | €83,034 | +€4,189 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €604,510 | €507,932 | -€96,578 | -16.0% |
| Income taxes | 67/77 | €87,934 | €80,532 | -€7,402 | -8.4% |
| Profit (loss) for the period | 9904 | €516,576 | €427,400 | -€89,176 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €516,576 | €427,400 | -€89,176 | -17.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.