IMMODER: 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
IMMODER
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€311,806
2024 · €341,503-€29,697
Equity
€1.9m
2024 · €2.3m-€338,194
Cash
€88,747
2024 · €110,507-€21,760
Balance sheet total
€2.0m
2024 · €2.4m-€344,530
Largest movements
Assets
- Deferred charges and accrued income -€175,317
down €175,317 (-92.4%), from €189,762 to €14,445
- Tangible fixed assets -€147,453
down €147,453 (-17.1%), from €861,143 to €713,689
of which Land and buildings: -€107,796
Equity and liabilities
- Profit (loss) carried forward -€338,194
down €338,194 (-16.9%), from €2.0m to €1.7m
Income statement
- Gross operating margin -€44,626
down €44,626 (-7.6%), from €589,921 to €545,295
- Taxes -€14,700
down €14,700 (-14.3%), from €102,508 to €87,807
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
€341,503
Gross operating margin
-€44,626
Depreciation
+€0
Write-downs
+€3,605
Other operating charges
-€3,258
Financial income
-€88
Financial charges
-€30
Taxes
+€14,700
Result 2025
€311,806
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
+€628,240
Investment
€0
Financing
-€650,000
Cash 2024
€110,507
From operations (derived)
+€628,240
Net result for the year
+€311,806
Depreciation
+€147,453
Deferred charges and accrued income
+€175,317
Tax, wage and social debts
+€4,088
Other debts
-€220
Accrued charges and deferred income
-€10,204
Financing
-€650,000
Contributions, distributions and other
-€650,000
Cash 2025
€88,747
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,361,411 | €2,016,881 | -€344,530 | -14.6% |
| Fixed assets | 21/28 | €2,061,143 | €1,913,689 | -€147,453 | -7.2% |
| Tangible fixed assets | 22/27 | €861,143 | €713,689 | -€147,453 | -17.1% |
| Land and buildings | 22 | €776,426 | €668,631 | -€107,796 | -13.9% |
| Plant, machinery and equipment | 23 | €84,716 | €45,059 | -€39,658 | -46.8% |
| Financial fixed assets | 28 | €1,200,000 | €1,200,000 | = | 0.0% |
| Current assets | 29/58 | €300,268 | €103,192 | -€197,077 | -65.6% |
| Cash at bank and in hand | 54/58 | €110,507 | €88,747 | -€21,760 | -19.7% |
| Deferred charges and accrued income | 490/1 | €189,762 | €14,445 | -€175,317 | -92.4% |
| Total equity and liabilities | 10/49 | €2,361,411 | €2,016,881 | -€344,530 | -14.6% |
| Equity | 10/15 | €2,281,780 | €1,943,586 | -€338,194 | -14.8% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €221,382 | €221,382 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €55,921 | €55,921 | = | 0.0% |
| Distributable reserves | 133 | €159,211 | €159,211 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,997,898 | €1,659,704 | -€338,194 | -16.9% |
| Amounts payable | 17/49 | €79,631 | €73,295 | -€6,336 | -8.0% |
| Amounts payable within one year | 42/48 | €52,142 | €56,011 | +€3,868 | +7.4% |
| Trade debts | 44 | €3,068 | €3,068 | = | 0.0% |
| Suppliers | 440/4 | €3,068 | €3,068 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €48,854 | €52,943 | +€4,088 | +8.4% |
| Taxes | 450/3 | €48,854 | €52,943 | +€4,088 | +8.4% |
| Other amounts payable | 47/48 | €220 | - | -€220 | |
| Accrued charges and deferred income | 492/3 | €27,489 | €17,284 | -€10,204 | -37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,453 | €147,453 | -€0 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,165 | -€440 | -€3,605 | |
| Other operating charges | 640/8 | €63,307 | €66,565 | +€3,258 | +5.1% |
| Gross operating margin | 9900 | €589,921 | €545,295 | -€44,626 | -7.6% |
| Operating profit (loss) | 9901 | €375,996 | €331,716 | -€44,280 | -11.8% |
| Financial income | 75/76B | €68,165 | €68,077 | -€88 | -0.1% |
| Recurring financial income | 75 | €68,165 | €68,077 | -€88 | -0.1% |
| Financial charges | 65/66B | €150 | €180 | +€30 | +20.0% |
| Recurring financial charges | 65 | €150 | €180 | +€30 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €444,011 | €399,613 | -€44,397 | -10.0% |
| Income taxes | 67/77 | €102,508 | €87,807 | -€14,700 | -14.3% |
| Profit (loss) for the period | 9904 | €341,503 | €311,806 | -€29,697 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €341,503 | €311,806 | -€29,697 | -8.7% |
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 3 October 2026 via checked.be.