IMMODELA: 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.
IMMODELA
Largest movements
- Stocks and contracts +€57,005
up €57,005 (+63.3%), from €90,000 to €147,005
- Cash -€11,611
down €11,611 (-80.7%), from €14,391 to €2,780
mainly Stocks and contracts (-€57,005) and Net result for the year (-€16,838)
- Tangible fixed assets -€8,908
down €8,908 (-7.1%), from €125,600 to €116,692
of which Land and buildings: -€8,409
- Receivables within one year +€7,689
up €7,689 (+1763.3%), from €436 to €8,125
of which Other amounts receivable: +€5,223
- Other debts +€73,360
up €73,360 (+58.0%), from €126,585 to €199,945
- Profit (loss) carried forward -€16,838
down €16,838 (-59.8%), from -€28,140 to -€44,978
- Debts after one year -€10,923
down €10,923 (-10.5%), from €103,731 to €92,808
- Gross operating margin -€26,287
down €26,287 (-78.2%), from €33,630 to €7,343
- Financial charges -€14,216
down €14,216 (-50.0%), from €28,432 to €14,217
- Taxes -€2,580
no longer reported in 2025 (was €2,580)
- Other operating charges -€747
down €747 (-41.4%), from €1,804 to €1,057
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 | €230,427 | €274,602 | +€44,175 | +19.2% |
| Fixed assets | 21/28 | €125,600 | €116,692 | -€8,908 | -7.1% |
| Tangible fixed assets | 22/27 | €125,600 | €116,692 | -€8,908 | -7.1% |
| Land and buildings | 22 | €123,604 | €115,195 | -€8,409 | -6.8% |
| Furniture and vehicles | 24 | €1,996 | €1,497 | -€499 | -25.0% |
| Current assets | 29/58 | €104,827 | €157,910 | +€53,083 | +50.6% |
| Stocks and contracts in progress | 3 | €90,000 | €147,005 | +€57,005 | +63.3% |
| Stocks | 30/36 | €90,000 | €147,005 | +€57,005 | +63.3% |
| Amounts receivable within one year | 40/41 | €436 | €8,125 | +€7,689 | +1763.3% |
| Trade receivables | 40 | €436 | €2,902 | +€2,466 | +565.5% |
| Other amounts receivable | 41 | - | €5,223 | +€5,223 | |
| Cash at bank and in hand | 54/58 | €14,391 | €2,780 | -€11,611 | -80.7% |
| Total equity and liabilities | 10/49 | €230,427 | €274,602 | +€44,175 | +19.2% |
| Equity | 10/15 | -€18,140 | -€34,978 | -€16,838 | -92.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,140 | -€44,978 | -€16,838 | -59.8% |
| Amounts payable | 17/49 | €248,567 | €309,581 | +€61,013 | +24.5% |
| Amounts payable after more than one year | 17 | €103,731 | €92,808 | -€10,923 | -10.5% |
| Financial debts | 170/4 | €103,731 | €92,808 | -€10,923 | -10.5% |
| Amounts payable within one year | 42/48 | €144,836 | €216,772 | +€71,936 | +49.7% |
| Current portion of amounts payable after more than one year | 42 | €10,611 | €10,923 | +€311 | +2.9% |
| Taxes, remuneration and social security | 45 | €7,640 | €5,904 | -€1,736 | -22.7% |
| Taxes | 450/3 | €7,640 | €5,904 | -€1,736 | -22.7% |
| Other amounts payable | 47/48 | €126,585 | €199,945 | +€73,360 | +58.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,908 | €8,908 | = | 0.0% |
| Other operating charges | 640/8 | €1,804 | €1,057 | -€747 | -41.4% |
| Gross operating margin | 9900 | €33,630 | €7,343 | -€26,287 | -78.2% |
| Operating profit (loss) | 9901 | €22,918 | -€2,622 | -€25,539 | |
| Financial charges | 65/66B | €28,432 | €14,217 | -€14,216 | -50.0% |
| Recurring financial charges | 65 | €28,432 | €14,217 | -€14,216 | -50.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,515 | -€16,838 | -€11,324 | -205.3% |
| Income taxes | 67/77 | €2,580 | - | -€2,580 | |
| Profit (loss) for the period | 9904 | -€8,095 | -€16,838 | -€8,743 | -108.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,095 | -€16,838 | -€8,743 | -108.0% |
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 1 October 2026 via checked.be.