IMMOFA: 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.
IMMOFA
Largest movements
- Tangible fixed assets -€135,332
down €135,332 (-7.3%), from €1.9m to €1.7m
of which Land and buildings: -€129,763
- Cash +€110,593
up €110,593 (+453%), from €24,397 to €134,990
mainly Investment in fixed assets (net) (+€71,485) and Depreciation (+€63,847)
- Debts after one year -€100,649
down €100,649 (-9.3%), from €1.1m to €982,999
of which Financial debts: -€98,579
- Reserves +€62,109
up €62,109 (+31.4%), from €197,966 to €260,076
of which Distributable reserves: +€62,109
- Tax, wage and social debts +€19,131
up €19,131 (+463%), from €4,134 to €23,264
- Gross operating margin +€45,319
up €45,319 (+30.8%), from €147,300 to €192,619
- Taxes +€16,131
up €16,131 (+226%), from €7,134 to €23,264
- Depreciation -€10,914
down €10,914 (-14.6%), from €74,761 to €63,847
- Financial charges -€2,622
down €2,622 (-8.8%), from €29,697 to €27,075
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 | €1,891,439 | €1,867,019 | -€24,420 | -1.3% |
| Fixed assets | 21/28 | €1,863,075 | €1,727,743 | -€135,332 | -7.3% |
| Tangible fixed assets | 22/27 | €1,863,075 | €1,727,743 | -€135,332 | -7.3% |
| Land and buildings | 22 | €1,852,773 | €1,723,010 | -€129,763 | -7.0% |
| Furniture and vehicles | 24 | €10,302 | €4,732 | -€5,569 | -54.1% |
| Current assets | 29/58 | €28,364 | €139,276 | +€110,912 | +391% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €24,397 | €134,990 | +€110,593 | +453% |
| Deferred charges and accrued income | 490/1 | €3,967 | €4,286 | +€319 | +8.0% |
| Total equity and liabilities | 10/49 | €1,891,439 | €1,867,019 | -€24,420 | -1.3% |
| Equity | 10/15 | €272,966 | €335,076 | +€62,109 | +22.8% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €197,966 | €260,076 | +€62,109 | +31.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €197,966 | €260,076 | +€62,109 | +31.4% |
| Amounts payable | 17/49 | €1,618,472 | €1,531,943 | -€86,529 | -5.3% |
| Amounts payable after more than one year | 17 | €1,083,647 | €982,999 | -€100,649 | -9.3% |
| Financial debts | 170/4 | €963,162 | €864,584 | -€98,579 | -10.2% |
| Other amounts payable | 178/9 | €120,485 | €118,415 | -€2,070 | -1.7% |
| Amounts payable within one year | 42/48 | €534,825 | €548,945 | +€14,120 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €103,142 | €98,579 | -€4,563 | -4.4% |
| Trade debts | 44 | €576 | €128 | -€448 | -77.7% |
| Suppliers | 440/4 | €576 | €128 | -€448 | -77.7% |
| Taxes, remuneration and social security | 45 | €4,134 | €23,264 | +€19,131 | +463% |
| Taxes | 450/3 | €4,134 | €23,264 | +€19,131 | +463% |
| Other amounts payable | 47/48 | €426,973 | €426,973 | = | 0.0% |
| Non-recurring operating income | 76A | - | €44,175 | +€44,175 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,761 | €63,847 | -€10,914 | -14.6% |
| Other operating charges | 640/8 | €15,437 | €16,325 | +€888 | +5.8% |
| Gross operating margin | 9900 | €147,300 | €192,619 | +€45,319 | +30.8% |
| Operating profit (loss) | 9901 | €57,102 | €112,448 | +€55,346 | +96.9% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €29,697 | €27,075 | -€2,622 | -8.8% |
| Recurring financial charges | 65 | €29,697 | €27,075 | -€2,622 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €27,405 | €85,374 | +€57,968 | +212% |
| Income taxes | 67/77 | €7,134 | €23,264 | +€16,131 | +226% |
| Profit (loss) for the period | 9904 | €20,272 | €62,109 | +€41,838 | +206% |
| Profit (loss) for the period to be appropriated | 9905 | €20,272 | €62,109 | +€41,838 | +206% |
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 16 October 2026 via checked.be.