IMMODECAU: 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.
IMMODECAU
Largest movements
- Tangible fixed assets +€292,094
up €292,094 (+27.1%), from €1.1m to €1.4m
of which Land and buildings: +€294,974
- Cash +€21,823
up €21,823 (+66.4%), from €32,870 to €54,693
mainly Debts after one year (+€884,418) and Trade debts (+€72,383)
- Debts after one year +€884,418
new in 2025: €884,418
of which Other amounts payable: +€659,957
- Other debts -€619,009
down €619,009 (-99.2%), from €623,709 to €4,700
- Trade debts +€72,383
up €72,383 (+4150.5%), from €1,744 to €74,127
- Profit (loss) carried forward -€43,279
down €43,279 (-59.4%), from -€72,811 to -€116,090
- Current portion of long-term debt +€24,087
new in 2025: €24,087
- Depreciation -€66,916
down €66,916 (-59.3%), from €112,837 to €45,920
- Other operating charges +€36,146
up €36,146 (+216.4%), from €16,700 to €52,845
- Financial charges +€1,265
up €1,265 (+6.6%), from €19,123 to €20,388
- Gross operating margin +€808
up €808 (+1.1%), from €72,054 to €72,862
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 | €1,111,192 | €1,432,184 | +€320,992 | +28.9% |
| Fixed assets | 21/28 | €1,076,980 | €1,369,074 | +€292,094 | +27.1% |
| Tangible fixed assets | 22/27 | €1,076,980 | €1,369,074 | +€292,094 | +27.1% |
| Land and buildings | 22 | €1,048,724 | €1,343,698 | +€294,974 | +28.1% |
| Plant, machinery and equipment | 23 | €28,256 | €25,376 | -€2,880 | -10.2% |
| Current assets | 29/58 | €34,213 | €63,111 | +€28,898 | +84.5% |
| Amounts receivable within one year | 40/41 | €1,343 | €3,372 | +€2,029 | +151.1% |
| Trade receivables | 40 | - | €3,372 | +€3,372 | |
| Other amounts receivable | 41 | €1,343 | €0 | -€1,343 | -100.0% |
| Cash at bank and in hand | 54/58 | €32,870 | €54,693 | +€21,823 | +66.4% |
| Deferred charges and accrued income | 490/1 | €0 | €5,046 | +€5,046 | |
| Total equity and liabilities | 10/49 | €1,111,192 | €1,432,184 | +€320,992 | +28.9% |
| Equity | 10/15 | €467,415 | €420,371 | -€47,044 | -10.1% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €240,226 | €236,461 | -€3,765 | -1.6% |
| Non-distributable reserves | 130/1 | €13,728 | €13,728 | = | 0.0% |
| Legal reserve | 130 | €13,728 | €13,728 | = | 0.0% |
| Tax-exempt reserves | 132 | €60,999 | €57,233 | -€3,765 | -6.2% |
| Distributable reserves | 133 | €165,500 | €165,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,811 | -€116,090 | -€43,279 | -59.4% |
| Provisions and deferred taxes | 16 | €18,325 | €19,078 | +€753 | +4.1% |
| Deferred taxes | 168 | €18,325 | €19,078 | +€753 | +4.1% |
| Amounts payable | 17/49 | €625,453 | €992,736 | +€367,283 | +58.7% |
| Amounts payable after more than one year | 17 | - | €884,418 | +€884,418 | |
| Financial debts | 170/4 | - | €224,461 | +€224,461 | |
| Other amounts payable | 178/9 | - | €659,957 | +€659,957 | |
| Amounts payable within one year | 42/48 | €625,453 | €108,318 | -€517,135 | -82.7% |
| Current portion of amounts payable after more than one year | 42 | - | €24,087 | +€24,087 | |
| Trade debts | 44 | €1,744 | €74,127 | +€72,383 | +4150.5% |
| Suppliers | 440/4 | €1,744 | €74,127 | +€72,383 | +4150.5% |
| Advances received on contracts in progress | 46 | - | €3,643 | +€3,643 | |
| Taxes, remuneration and social security | 45 | €0 | €1,760 | +€1,760 | |
| Taxes | 450/3 | €0 | €1,760 | +€1,760 | |
| Other amounts payable | 47/48 | €623,709 | €4,700 | -€619,009 | -99.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,837 | €45,920 | -€66,916 | -59.3% |
| Other operating charges | 640/8 | €16,700 | €52,845 | +€36,146 | +216.4% |
| Gross operating margin | 9900 | €72,054 | €72,862 | +€808 | +1.1% |
| Operating profit (loss) | 9901 | -€57,482 | -€25,903 | +€31,579 | +54.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €19,123 | €20,388 | +€1,265 | +6.6% |
| Recurring financial charges | 65 | €19,123 | €20,388 | +€1,265 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | -€76,604 | -€46,291 | +€30,313 | +39.6% |
| Transfer from deferred taxes | 780 | €753 | €753 | = | 0.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€75,851 | -€45,538 | +€30,313 | +40.0% |
| Transfer from tax-exempt reserves | 789 | €2,259 | €2,259 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,592 | -€43,279 | +€30,313 | +41.2% |
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 30 September 2026 via checked.be.