IMMODUL: 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.
IMMODUL
Largest movements
- Cash +€23,858
up €23,858 (+27.8%), from €85,737 to €109,594
mainly Net result for the year (+€16,985) and Other debts (+€15,600)
- Receivables within one year -€8,040
no longer reported in 2025 (was €8,040)
- Other debts +€15,600
new in 2025: €15,600
- Tax, wage and social debts -€2,980
down €2,980 (-74.6%), from €3,996 to €1,016
- Gross operating margin +€1,406
up €1,406 (+4.3%), from €32,754 to €34,160
- Other operating charges +€1,262
up €1,262 (+21.2%), from €5,959 to €7,221
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 | €187,408 | €201,542 | +€14,133 | +7.5% |
| Fixed assets | 21/28 | €93,632 | €91,947 | -€1,685 | -1.8% |
| Tangible fixed assets | 22/27 | €93,632 | €91,947 | -€1,685 | -1.8% |
| Land and buildings | 22 | €93,632 | €91,947 | -€1,685 | -1.8% |
| Current assets | 29/58 | €93,776 | €109,594 | +€15,818 | +16.9% |
| Amounts receivable within one year | 40/41 | €8,040 | - | -€8,040 | |
| Other amounts receivable | 41 | €8,040 | - | -€8,040 | |
| Cash at bank and in hand | 54/58 | €85,737 | €109,594 | +€23,858 | +27.8% |
| Total equity and liabilities | 10/49 | €187,408 | €201,542 | +€14,133 | +7.5% |
| Equity | 10/15 | €183,412 | €184,797 | +€1,385 | +0.8% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €138,412 | €139,797 | +€1,385 | +1.0% |
| Distributable reserves | 133 | €138,412 | €139,797 | +€1,385 | +1.0% |
| Amounts payable | 17/49 | €3,996 | €16,744 | +€12,748 | +319.0% |
| Amounts payable within one year | 42/48 | €3,996 | €16,744 | +€12,748 | +319.0% |
| Trade debts | 44 | - | €128 | +€128 | |
| Suppliers | 440/4 | - | €128 | +€128 | |
| Taxes, remuneration and social security | 45 | €3,996 | €1,016 | -€2,980 | -74.6% |
| Taxes | 450/3 | €3,996 | €1,016 | -€2,980 | -74.6% |
| Other amounts payable | 47/48 | - | €15,600 | +€15,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,685 | €1,685 | = | 0.0% |
| Other operating charges | 640/8 | €5,959 | €7,221 | +€1,262 | +21.2% |
| Gross operating margin | 9900 | €32,754 | €34,160 | +€1,406 | +4.3% |
| Operating profit (loss) | 9901 | €25,110 | €25,255 | +€145 | +0.6% |
| Financial charges | 65/66B | €69 | €75 | +€7 | +9.5% |
| Recurring financial charges | 65 | €69 | €75 | +€7 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €25,042 | €25,180 | +€138 | +0.6% |
| Income taxes | 67/77 | €7,960 | €8,195 | +€235 | +2.9% |
| Profit (loss) for the period | 9904 | €17,081 | €16,985 | -€97 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,081 | €16,985 | -€97 | -0.6% |
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 5 October 2026 via checked.be.