IMMODEL: 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.
What changed
IMMODEL
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€265,430
2024 · €234,472+€30,959
Equity
€11.5m
2024 · €11.3m+€265,430
Cash
€0
2024 · €99,988-€99,988
Balance sheet total
€11.6m
2024 · €11.6m+€54,266
Largest movements
Assets
- Receivables within one year +€528,033
up €528,033 (+145785.0%), from €362 to €528,395
- Financial fixed assets -€373,779
down €373,779 (-3.5%), from €10.8m to €10.4m
Equity and liabilities
- Profit (loss) carried forward +€252,159
up €252,159 (+6.4%), from €3.9m to €4.2m
- Other debts -€211,093
no longer reported in 2025 (was €211,093)
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2024
€234,472
Other operating items
-€3,350
Financial income
-€75
Financial charges
-€4,845
Taxes
+€39,229
Result 2025
€265,430
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.
From operations
-€473,767
Investment
+€373,779
Financing
€0
Cash 2024
€99,988
From operations (derived)
-€473,767
Net result for the year
+€265,430
Receivables within one year
-€528,033
Trade debts
+€2,241
Tax, wage and social debts
-€2,312
Other debts
-€211,093
Investment (derived)
+€373,779
Investment in fixed assets (net)
+€373,779
Cash 2025
€0
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,562,692 | €11,616,958 | +€54,266 | +0.5% |
| Fixed assets | 21/28 | €11,460,643 | €11,086,863 | -€373,779 | -3.3% |
| Tangible fixed assets | 22/27 | €708,400 | €708,400 | = | 0.0% |
| Other tangible fixed assets | 26 | €708,400 | €708,400 | = | 0.0% |
| Financial fixed assets | 28 | €10,752,243 | €10,378,463 | -€373,779 | -3.5% |
| Affiliated companies | 280/1 | €10,752,243 | €10,378,463 | -€373,779 | -3.5% |
| Amounts receivable | 281 | €10,752,243 | €10,378,463 | -€373,779 | -3.5% |
| Current assets | 29/58 | €102,050 | €530,095 | +€428,045 | +419.4% |
| Amounts receivable after more than one year | 29 | €1,300 | €1,300 | = | 0.0% |
| Trade receivables | 290 | €1,300 | €1,300 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €362 | €528,395 | +€528,033 | +145785.0% |
| Other amounts receivable | 41 | €362 | €528,395 | +€528,033 | +145785.0% |
| Current investments | 50/53 | €400 | €400 | = | 0.0% |
| Other investments | 51/53 | €400 | €400 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €99,988 | €0 | -€99,988 | -100.0% |
| Total equity and liabilities | 10/49 | €11,562,692 | €11,616,958 | +€54,266 | +0.5% |
| Equity | 10/15 | €11,250,828 | €11,516,258 | +€265,430 | +2.4% |
| Contributions | 10/11 | €7,095,000 | €7,095,000 | = | 0.0% |
| Capital | 10 | €7,095,000 | €7,095,000 | = | 0.0% |
| Issued capital | 100 | €7,095,000 | €7,095,000 | = | 0.0% |
| Reserves | 13 | €231,239 | €244,510 | +€13,272 | +5.7% |
| Non-distributable reserves | 130/1 | €231,239 | €244,510 | +€13,272 | +5.7% |
| Legal reserve | 130 | €231,239 | €244,510 | +€13,272 | +5.7% |
| Profit (loss) carried forward | 14 | €3,924,589 | €4,176,748 | +€252,159 | +6.4% |
| Amounts payable | 17/49 | €311,864 | €100,700 | -€211,164 | -67.7% |
| Amounts payable within one year | 42/48 | €311,864 | €100,700 | -€211,164 | -67.7% |
| Trade debts | 44 | €1,761 | €4,002 | +€2,241 | +127.3% |
| Suppliers | 440/4 | €1,761 | €4,002 | +€2,241 | +127.3% |
| Taxes, remuneration and social security | 45 | €99,010 | €96,698 | -€2,312 | -2.3% |
| Taxes | 450/3 | €99,000 | €96,698 | -€2,302 | -2.3% |
| Remuneration and social security | 454/9 | €10 | - | -€10 | |
| Other amounts payable | 47/48 | €211,093 | - | -€211,093 | |
| Operating charges | 60/66A | €2,794 | €6,145 | +€3,350 | +119.9% |
| Services and other goods | 61 | €2,794 | €6,145 | +€3,350 | +119.9% |
| Operating profit (loss) | 9901 | -€2,794 | -€6,145 | -€3,350 | -119.9% |
| Financial income | 75/76B | €373,709 | €373,634 | -€75 | 0.0% |
| Recurring financial income | 75 | €373,709 | €373,634 | -€75 | 0.0% |
| Income from financial fixed assets | 750 | €373,709 | €373,634 | -€75 | 0.0% |
| Financial charges | 65/66B | €720 | €5,566 | +€4,845 | +672.8% |
| Recurring financial charges | 65 | €720 | €5,566 | +€4,845 | +672.8% |
| Debt charges | 650 | €2 | €4,584 | +€4,582 | +207339.4% |
| Other financial charges | 652/9 | €718 | €981 | +€263 | +36.7% |
| Profit (loss) for the period before taxes | 9903 | €370,194 | €361,924 | -€8,270 | -2.2% |
| Income taxes | 67/77 | €135,723 | €96,493 | -€39,229 | -28.9% |
| Taxes | 670/3 | €135,723 | €96,493 | -€39,229 | -28.9% |
| Profit (loss) for the period | 9904 | €234,472 | €265,430 | +€30,959 | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €234,472 | €265,430 | +€30,959 | +13.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.