IMMODEX: 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.
IMMODEX
Largest movements
- Tangible fixed assets +€140,681
up €140,681 (+79.8%), from €176,386 to €317,066
of which Plant, machinery and equipment: +€146,681
- Cash -€33,510
down €33,510 (-84.6%), from €39,615 to €6,105
mainly Investment in fixed assets (net) (-€155,774) and Net result for the year (-€2,462)
- Debts after one year +€78,263
up €78,263 (+96.6%), from €81,025 to €159,288
- Other debts +€20,000
new in 2025: €20,000
- Current portion of long-term debt +€13,442
up €13,442 (+107%), from €12,552 to €25,994
- Financial charges +€3,256
up €3,256 (+120%), from €2,716 to €5,971
- Depreciation +€3,178
up €3,178 (+26.7%), from €11,916 to €15,094
- Taxes -€942
down €942 (-97.9%), from €962 to €20
- Gross operating margin +€546
up €546 (+2.3%), from €24,022 to €24,568
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 | €216,231 | €324,514 | +€108,284 | +50.1% |
| Fixed assets | 21/28 | €176,386 | €317,066 | +€140,681 | +79.8% |
| Tangible fixed assets | 22/27 | €176,386 | €317,066 | +€140,681 | +79.8% |
| Land and buildings | 22 | €166,601 | €160,931 | -€5,670 | -3.4% |
| Plant, machinery and equipment | 23 | €9,455 | €156,135 | +€146,681 | +1,551% |
| Furniture and vehicles | 24 | €330 | - | -€330 | |
| Current assets | 29/58 | €39,845 | €7,448 | -€32,397 | -81.3% |
| Amounts receivable within one year | 40/41 | - | €1,100 | +€1,100 | |
| Trade receivables | 40 | - | €1,100 | +€1,100 | |
| Cash at bank and in hand | 54/58 | €39,615 | €6,105 | -€33,510 | -84.6% |
| Deferred charges and accrued income | 490/1 | €230 | €243 | +€13 | +5.5% |
| Total equity and liabilities | 10/49 | €216,231 | €324,514 | +€108,284 | +50.1% |
| Equity | 10/15 | €121,691 | €119,229 | -€2,462 | -2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,231 | €98,769 | -€2,462 | -2.4% |
| Amounts payable | 17/49 | €94,539 | €205,285 | +€110,746 | +117% |
| Amounts payable after more than one year | 17 | €81,025 | €159,288 | +€78,263 | +96.6% |
| Financial debts | 170/4 | €81,025 | €159,288 | +€78,263 | +96.6% |
| Amounts payable within one year | 42/48 | €13,515 | €45,997 | +€32,483 | +240% |
| Current portion of amounts payable after more than one year | 42 | €12,552 | €25,994 | +€13,442 | +107% |
| Trade debts | 44 | - | €3 | +€3 | |
| Suppliers | 440/4 | - | €3 | +€3 | |
| Taxes, remuneration and social security | 45 | €962 | - | -€962 | |
| Taxes | 450/3 | €962 | - | -€962 | |
| Other amounts payable | 47/48 | - | €20,000 | +€20,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,916 | €15,094 | +€3,178 | +26.7% |
| Other operating charges | 640/8 | €5,787 | €5,969 | +€182 | +3.1% |
| Gross operating margin | 9900 | €24,022 | €24,568 | +€546 | +2.3% |
| Operating profit (loss) | 9901 | €6,320 | €3,506 | -€2,814 | -44.5% |
| Financial income | 75/76B | €1 | €24 | +€23 | +2,266% |
| Recurring financial income | 75 | €1 | €24 | +€23 | +2,266% |
| Financial charges | 65/66B | €2,716 | €5,971 | +€3,256 | +120% |
| Recurring financial charges | 65 | €2,716 | €5,971 | +€3,256 | +120% |
| Profit (loss) for the period before taxes | 9903 | €3,605 | -€2,442 | -€6,047 | |
| Income taxes | 67/77 | €962 | €20 | -€942 | -97.9% |
| Profit (loss) for the period | 9904 | €2,643 | -€2,462 | -€5,105 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,643 | -€2,462 | -€5,105 |
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 13 October 2026 via checked.be.