IMMODEM: 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.
IMMODEM
Largest movements
- Tangible fixed assets -€26,907
down €26,907 (-10.2%), from €262,659 to €235,752
- Cash -€10,593
down €10,593 (-7.6%), from €138,746 to €128,153
mainly Net result for the year (-€28,332) and Other debts (-€4,615)
- Profit (loss) carried forward -€20,634
down €20,634 (-27.7%), from -€74,607 to -€95,241
- Reserves -€7,699
down €7,699 (-6.0%), from €127,616 to €119,917
of which Tax-exempt reserves: -€7,699
- Other debts -€4,615
down €4,615 (-1.8%), from €253,128 to €248,513
- Gross operating margin +€8,176
up €8,176 (+114.7%), from €7,126 to €15,303
- Financial charges -€2,288
down €2,288 (-14.3%), from €15,956 to €13,667
- Other operating charges +€487
up €487 (+7.4%), from €6,557 to €7,044
- Depreciation +€218
up €218 (+0.8%), from €26,690 to €26,907
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 | €403,044 | €366,269 | -€36,775 | -9.1% |
| Fixed assets | 21/28 | €262,659 | €235,752 | -€26,907 | -10.2% |
| Tangible fixed assets | 22/27 | €262,659 | €235,752 | -€26,907 | -10.2% |
| Land and buildings | 22 | €217,611 | €205,796 | -€11,815 | -5.4% |
| Plant, machinery and equipment | 23 | €7,082 | €4,527 | -€2,555 | -36.1% |
| Furniture and vehicles | 24 | €26,768 | €16,988 | -€9,780 | -36.5% |
| Other tangible fixed assets | 26 | €11,198 | €8,441 | -€2,757 | -24.6% |
| Current assets | 29/58 | €140,385 | €130,517 | -€9,868 | -7.0% |
| Amounts receivable within one year | 40/41 | €1,639 | €2,364 | +€725 | +44.2% |
| Other amounts receivable | 41 | €1,639 | €2,364 | +€725 | +44.2% |
| Cash at bank and in hand | 54/58 | €138,746 | €128,153 | -€10,593 | -7.6% |
| Total equity and liabilities | 10/49 | €403,044 | €366,269 | -€36,775 | -9.1% |
| Equity | 10/15 | €115,008 | €86,676 | -€28,332 | -24.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €127,616 | €119,917 | -€7,699 | -6.0% |
| Tax-exempt reserves | 132 | €66,946 | €59,247 | -€7,699 | -11.5% |
| Distributable reserves | 133 | €60,670 | €60,670 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,607 | -€95,241 | -€20,634 | -27.7% |
| Provisions and deferred taxes | 16 | €34,472 | €30,507 | -€3,964 | -11.5% |
| Deferred taxes | 168 | €34,472 | €30,507 | -€3,964 | -11.5% |
| Amounts payable | 17/49 | €253,564 | €249,085 | -€4,479 | -1.8% |
| Amounts payable within one year | 42/48 | €253,564 | €249,085 | -€4,479 | -1.8% |
| Trade debts | 44 | €436 | €572 | +€136 | +31.2% |
| Suppliers | 440/4 | €436 | €572 | +€136 | +31.2% |
| Other amounts payable | 47/48 | €253,128 | €248,513 | -€4,615 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,690 | €26,907 | +€218 | +0.8% |
| Other operating charges | 640/8 | €6,557 | €7,044 | +€487 | +7.4% |
| Gross operating margin | 9900 | €7,126 | €15,303 | +€8,176 | +114.7% |
| Operating profit (loss) | 9901 | -€26,120 | -€18,648 | +€7,471 | +28.6% |
| Financial income | 75/76B | €0 | €19 | +€19 | +191000.0% |
| Recurring financial income | 75 | €0 | €19 | +€19 | +191000.0% |
| Financial charges | 65/66B | €15,956 | €13,667 | -€2,288 | -14.3% |
| Recurring financial charges | 65 | €15,956 | €13,667 | -€2,288 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | -€42,075 | -€32,297 | +€9,779 | +23.2% |
| Transfer from deferred taxes | 780 | €3,964 | €3,964 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€38,111 | -€28,332 | +€9,779 | +25.7% |
| Transfer from tax-exempt reserves | 789 | €7,699 | €7,699 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,412 | -€20,634 | +€9,779 | +32.2% |
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 6 October 2026 via checked.be.