IMMODEVELOPMENT: 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.
IMMODEVELOPMENT
Largest movements
- Receivables within one year +€18,588
up €18,588 (+4.3%), from €436,081 to €454,669
of which Trade receivables: +€18,588
- Cash +€11,849
up €11,849 (+30.5%), from €38,823 to €50,672
mainly Net result for the year (+€56,779) and Deferred charges and accrued income (+€8,457)
- Deferred charges and accrued income -€8,457
no longer reported in 2025 (was €8,457)
- Reserves +€56,779
up €56,779 (+32.0%), from €177,576 to €234,354
- Trade debts -€37,674
down €37,674 (-16.5%), from €228,567 to €190,893
- Gross operating margin -€9,600
down €9,600 (-5.8%), from €165,359 to €155,759
- Taxes -€4,239
down €4,239 (-13.5%), from €31,464 to €27,225
- Staff costs +€3,042
up €3,042 (+5.0%), from €60,634 to €63,676
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.
Derived cash bridge
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 | €502,830 | €527,034 | +€24,203 | +4.8% |
| Fixed assets | 21/28 | €19,469 | €21,692 | +€2,224 | +11.4% |
| Tangible fixed assets | 22/27 | €19,424 | €21,648 | +€2,224 | +11.4% |
| Plant, machinery and equipment | 23 | €10,920 | €8,006 | -€2,914 | -26.7% |
| Furniture and vehicles | 24 | €8,504 | €13,642 | +€5,138 | +60.4% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €483,361 | €505,341 | +€21,980 | +4.5% |
| Amounts receivable within one year | 40/41 | €436,081 | €454,669 | +€18,588 | +4.3% |
| Trade receivables | 40 | €433,321 | €451,909 | +€18,588 | +4.3% |
| Other amounts receivable | 41 | €2,760 | €2,760 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,823 | €50,672 | +€11,849 | +30.5% |
| Deferred charges and accrued income | 490/1 | €8,457 | - | -€8,457 | |
| Total equity and liabilities | 10/49 | €502,830 | €527,034 | +€24,203 | +4.8% |
| Equity | 10/15 | €201,394 | €258,173 | +€56,779 | +28.2% |
| Contributions | 10/11 | €6,210 | €6,210 | = | 0.0% |
| Reserves | 13 | €177,576 | €234,354 | +€56,779 | +32.0% |
| Distributable reserves | 133 | €177,576 | €234,354 | +€56,779 | +32.0% |
| Profit (loss) carried forward | 14 | €17,608 | €17,608 | = | 0.0% |
| Amounts payable | 17/49 | €301,436 | €268,861 | -€32,575 | -10.8% |
| Amounts payable within one year | 42/48 | €301,436 | €268,861 | -€32,575 | -10.8% |
| Trade debts | 44 | €228,567 | €190,893 | -€37,674 | -16.5% |
| Suppliers | 440/4 | €228,567 | €190,893 | -€37,674 | -16.5% |
| Taxes, remuneration and social security | 45 | €69,499 | €70,827 | +€1,328 | +1.9% |
| Taxes | 450/3 | €56,173 | €56,400 | +€227 | +0.4% |
| Remuneration and social security | 454/9 | €13,327 | €14,427 | +€1,101 | +8.3% |
| Other amounts payable | 47/48 | €3,369 | €7,141 | +€3,771 | +112% |
| Remuneration, social security and pensions | 62 | €60,634 | €63,676 | +€3,042 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,377 | €7,804 | +€1,428 | +22.4% |
| Other operating charges | 640/8 | €1,868 | €967 | -€901 | -48.2% |
| Gross operating margin | 9900 | €165,359 | €155,759 | -€9,600 | -5.8% |
| Operating profit (loss) | 9901 | €96,479 | €83,312 | -€13,168 | -13.6% |
| Financial income | 75/76B | €757 | €737 | -€21 | -2.7% |
| Recurring financial income | 75 | €757 | €737 | -€21 | -2.7% |
| Financial charges | 65/66B | €1,509 | €44 | -€1,464 | -97.1% |
| Recurring financial charges | 65 | €1,509 | €44 | -€1,464 | -97.1% |
| Profit (loss) for the period before taxes | 9903 | €95,728 | €84,004 | -€11,724 | -12.2% |
| Income taxes | 67/77 | €31,464 | €27,225 | -€4,239 | -13.5% |
| Profit (loss) for the period | 9904 | €64,264 | €56,779 | -€7,485 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €64,264 | €56,779 | -€7,485 | -11.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.