IMMODESAM: 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.
IMMODESAM
Largest movements
- Tangible fixed assets -€26,280
down €26,280 (-9.3%), from €283,992 to €257,712
- Debts after one year -€18,237
down €18,237 (-8.4%), from €218,256 to €200,019
- Reserves -€8,119
down €8,119 (-9.6%), from €84,600 to €76,480
of which Tax-exempt reserves: -€8,119
- Profit (loss) carried forward +€5,299
up €5,299 (+736.4%), from €720 to €6,019
- Gross operating margin +€4,188
up €4,188 (+16.2%), from €25,927 to €30,115
- Financial charges -€531
down €531 (-6.9%), from €7,667 to €7,136
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 | €426,296 | €404,551 | -€21,746 | -5.1% |
| Fixed assets | 21/28 | €283,992 | €257,712 | -€26,280 | -9.3% |
| Tangible fixed assets | 22/27 | €283,992 | €257,712 | -€26,280 | -9.3% |
| Land and buildings | 22 | €283,992 | €257,712 | -€26,280 | -9.3% |
| Current assets | 29/58 | €142,304 | €146,839 | +€4,535 | +3.2% |
| Amounts receivable within one year | 40/41 | €123,155 | €123,481 | +€326 | +0.3% |
| Other amounts receivable | 41 | €123,155 | €123,481 | +€326 | +0.3% |
| Cash at bank and in hand | 54/58 | €18,655 | €22,282 | +€3,627 | +19.4% |
| Deferred charges and accrued income | 490/1 | €494 | €1,076 | +€582 | +117.8% |
| Total equity and liabilities | 10/49 | €426,296 | €404,551 | -€21,746 | -5.1% |
| Equity | 10/15 | €147,319 | €144,499 | -€2,820 | -1.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €84,600 | €76,480 | -€8,119 | -9.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €78,400 | €70,280 | -€8,119 | -10.4% |
| Profit (loss) carried forward | 14 | €720 | €6,019 | +€5,299 | +736.4% |
| Provisions and deferred taxes | 16 | €40,388 | €36,205 | -€4,183 | -10.4% |
| Deferred taxes | 168 | €40,388 | €36,205 | -€4,183 | -10.4% |
| Amounts payable | 17/49 | €238,589 | €223,847 | -€14,742 | -6.2% |
| Amounts payable after more than one year | 17 | €218,256 | €200,019 | -€18,237 | -8.4% |
| Financial debts | 170/4 | €218,256 | €200,019 | -€18,237 | -8.4% |
| Amounts payable within one year | 42/48 | €19,734 | €23,018 | +€3,284 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | €19,153 | €19,732 | +€579 | +3.0% |
| Trade debts | 44 | €306 | €1,411 | +€1,105 | +361.8% |
| Suppliers | 440/4 | €306 | €1,411 | +€1,105 | +361.8% |
| Other amounts payable | 47/48 | €275 | €1,875 | +€1,600 | +581.8% |
| Accrued charges and deferred income | 492/3 | €600 | €810 | +€210 | +35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,290 | €26,280 | -€10 | 0.0% |
| Other operating charges | 640/8 | €3,588 | €3,701 | +€113 | +3.2% |
| Gross operating margin | 9900 | €25,927 | €30,115 | +€4,188 | +16.2% |
| Operating profit (loss) | 9901 | -€3,951 | €133 | +€4,085 | |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €7,667 | €7,136 | -€531 | -6.9% |
| Recurring financial charges | 65 | €7,667 | €7,136 | -€531 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | -€11,608 | -€7,003 | +€4,605 | +39.7% |
| Transfer from deferred taxes | 780 | €4,183 | €4,183 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€7,426 | -€2,820 | +€4,605 | +62.0% |
| Transfer from tax-exempt reserves | 789 | €8,119 | €8,119 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €694 | €5,299 | +€4,605 | +663.8% |
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.