IMMODESC: what changed
Two financial 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.
IMMODESC
Largest movements
- Stocks and contracts -€489,999
down €489,999 (-27.4%), from €1.8m to €1.3m
- Financial fixed assets -€196,460
down €196,460 (-83.9%), from €234,039 to €37,578
- Cash -€83,300
down €83,300 (-43.1%), from €193,064 to €109,764
mainly Short-term financial debts (-€428,350) and Other debts (-€342,191)
- Receivables within one year +€56,767
up €56,767 (+1100.4%), from €5,159 to €61,926
of which Other amounts receivable: +€61,926
- Short-term financial debts -€428,350
down €428,350 (-48.7%), from €879,820 to €451,470
- Other debts -€342,191
down €342,191 (-44.9%), from €762,386 to €420,194
- Reserves +€56,523
up €56,523 (+31.0%), from €182,072 to €238,595
of which Distributable reserves: +€56,523
- Gross operating margin +€54,603
up €54,603 (+88.6%), from €61,611 to €116,214
- Financial charges -€24,784
down €24,784 (-35.0%), from €70,900 to €46,116
- Taxes +€17,074
up €17,074, from €0 to €17,074
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 | €2,220,154 | €1,507,162 | -€712,992 | -32.1% |
| Fixed assets | 21/28 | €234,039 | €37,578 | -€196,460 | -83.9% |
| Financial fixed assets | 28 | €234,039 | €37,578 | -€196,460 | -83.9% |
| Current assets | 29/58 | €1,986,115 | €1,469,583 | -€516,532 | -26.0% |
| Stocks and contracts in progress | 3 | €1,787,725 | €1,297,726 | -€489,999 | -27.4% |
| Stocks | 30/36 | €1,787,725 | €1,297,726 | -€489,999 | -27.4% |
| Amounts receivable within one year | 40/41 | €5,159 | €61,926 | +€56,767 | +1100.4% |
| Trade receivables | 40 | €5,159 | €0 | -€5,159 | -100.0% |
| Other amounts receivable | 41 | - | €61,926 | +€61,926 | |
| Cash at bank and in hand | 54/58 | €193,064 | €109,764 | -€83,300 | -43.1% |
| Deferred charges and accrued income | 490/1 | €167 | €167 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,220,154 | €1,507,162 | -€712,992 | -32.1% |
| Equity | 10/15 | €243,572 | €300,095 | +€56,523 | +23.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €182,072 | €238,595 | +€56,523 | +31.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €175,922 | €232,445 | +€56,523 | +32.1% |
| Amounts payable | 17/49 | €1,976,582 | €1,207,067 | -€769,515 | -38.9% |
| Amounts payable within one year | 42/48 | €1,975,464 | €1,204,076 | -€771,387 | -39.0% |
| Financial debts | 43 | €879,820 | €451,470 | -€428,350 | -48.7% |
| Credit institutions | 430/8 | €879,820 | €451,470 | -€428,350 | -48.7% |
| Trade debts | 44 | €1,068 | €222 | -€846 | -79.2% |
| Suppliers | 440/4 | €1,068 | €222 | -€846 | -79.2% |
| Advances received on contracts in progress | 46 | €332,190 | €332,190 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €762,386 | €420,194 | -€342,191 | -44.9% |
| Accrued charges and deferred income | 492/3 | €1,118 | €2,991 | +€1,872 | +167.4% |
| Other operating charges | 640/8 | €119 | €126 | +€7 | +6.3% |
| Gross operating margin | 9900 | €61,611 | €116,214 | +€54,603 | +88.6% |
| Operating profit (loss) | 9901 | €61,493 | €116,088 | +€54,596 | +88.8% |
| Financial income | 75/76B | €4,107 | €3,626 | -€482 | -11.7% |
| Recurring financial income | 75 | €4,107 | €3,626 | -€482 | -11.7% |
| Financial charges | 65/66B | €70,900 | €46,116 | -€24,784 | -35.0% |
| Recurring financial charges | 65 | €70,900 | €46,116 | -€24,784 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,300 | €73,597 | +€78,898 | |
| Income taxes | 67/77 | €0 | €17,074 | +€17,074 | |
| Profit (loss) for the period | 9904 | -€5,300 | €56,523 | +€61,823 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,300 | €56,523 | +€61,823 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.