IMMOFAN: 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.
IMMOFAN
Largest movements
- Tangible fixed assets -€27,954
down €27,954 (-3.2%), from €879,761 to €851,807
of which Land and buildings: -€26,444
- Cash +€11,059
up €11,059 (+19.6%), from €56,320 to €67,379
mainly Depreciation (+€46,965) and Accrued charges and deferred income (+€34,254)
- Debts after one year -€46,956
down €46,956 (-7.0%), from €672,081 to €625,125
of which Financial debts: -€46,956
- Accrued charges and deferred income +€34,254
up €34,254 (+108.2%), from €31,648 to €65,902
- Profit (loss) carried forward -€21,247
down €21,247, from €5,364 to -€15,883
- Tax, wage and social debts +€12,886
up €12,886 (+167.5%), from €7,693 to €20,578
of which Remuneration and social security: +€16,329
- Staff costs +€33,149
up €33,149 (+20.8%), from €159,089 to €192,237
- Gross operating margin +€8,320
up €8,320 (+3.5%), from €236,769 to €245,089
- Depreciation +€3,871
up €3,871 (+9.0%), from €43,093 to €46,965
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 | €945,989 | €931,292 | -€14,697 | -1.6% |
| Fixed assets | 21/28 | €881,461 | €852,557 | -€28,904 | -3.3% |
| Tangible fixed assets | 22/27 | €879,761 | €851,807 | -€27,954 | -3.2% |
| Land and buildings | 22 | €874,579 | €848,135 | -€26,444 | -3.0% |
| Plant, machinery and equipment | 23 | €5,182 | €3,672 | -€1,510 | -29.1% |
| Financial fixed assets | 28 | €1,700 | €750 | -€950 | -55.9% |
| Current assets | 29/58 | €64,528 | €78,735 | +€14,207 | +22.0% |
| Stocks and contracts in progress | 3 | - | €4,651 | +€4,651 | |
| Stocks | 30/36 | - | €4,651 | +€4,651 | |
| Amounts receivable within one year | 40/41 | €5,106 | €6,705 | +€1,600 | +31.3% |
| Trade receivables | 40 | €1,940 | €1,705 | -€234 | -12.1% |
| Other amounts receivable | 41 | €3,166 | €5,000 | +€1,834 | +57.9% |
| Cash at bank and in hand | 54/58 | €56,320 | €67,379 | +€11,059 | +19.6% |
| Deferred charges and accrued income | 490/1 | €3,103 | - | -€3,103 | |
| Total equity and liabilities | 10/49 | €945,989 | €931,292 | -€14,697 | -1.6% |
| Equity | 10/15 | €154,621 | €133,375 | -€21,247 | -13.7% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €19,257 | €19,257 | = | 0.0% |
| Distributable reserves | 133 | €19,257 | €19,257 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,364 | -€15,883 | -€21,247 | |
| Amounts payable | 17/49 | €791,368 | €797,918 | +€6,550 | +0.8% |
| Amounts payable after more than one year | 17 | €672,081 | €625,125 | -€46,956 | -7.0% |
| Financial debts | 170/4 | €672,031 | €625,075 | -€46,956 | -7.0% |
| Other amounts payable | 178/9 | €50 | €50 | = | 0.0% |
| Amounts payable within one year | 42/48 | €87,639 | €106,891 | +€19,252 | +22.0% |
| Current portion of amounts payable after more than one year | 42 | €52,773 | €61,117 | +€8,344 | +15.8% |
| Trade debts | 44 | €5,491 | €3,944 | -€1,547 | -28.2% |
| Suppliers | 440/4 | €5,491 | €3,944 | -€1,547 | -28.2% |
| Taxes, remuneration and social security | 45 | €7,693 | €20,578 | +€12,886 | +167.5% |
| Taxes | 450/3 | €6,128 | €2,684 | -€3,443 | -56.2% |
| Remuneration and social security | 454/9 | €1,565 | €17,894 | +€16,329 | +1043.3% |
| Other amounts payable | 47/48 | €21,682 | €21,251 | -€431 | -2.0% |
| Accrued charges and deferred income | 492/3 | €31,648 | €65,902 | +€34,254 | +108.2% |
| Remuneration, social security and pensions | 62 | €159,089 | €192,237 | +€33,149 | +20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,093 | €46,965 | +€3,871 | +9.0% |
| Other operating charges | 640/8 | €6,619 | €5,784 | -€835 | -12.6% |
| Gross operating margin | 9900 | €236,769 | €245,089 | +€8,320 | +3.5% |
| Operating profit (loss) | 9901 | €27,968 | €103 | -€27,865 | -99.6% |
| Financial income | 75/76B | €429 | €134 | -€295 | -68.7% |
| Recurring financial income | 75 | €429 | €134 | -€295 | -68.7% |
| Financial charges | 65/66B | €22,211 | €21,452 | -€758 | -3.4% |
| Recurring financial charges | 65 | €22,211 | €21,452 | -€758 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €6,186 | -€21,215 | -€27,401 | |
| Income taxes | 67/77 | €1,929 | €32 | -€1,897 | -98.4% |
| Profit (loss) for the period | 9904 | €4,257 | -€21,247 | -€25,504 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,257 | -€21,247 | -€25,504 |
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 6 October 2026 via checked.be.