IMMOFAR: 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.
IMMOFAR
Largest movements
- Cash -€115,583
down €115,583 (-95.1%), from €121,587 to €6,004
mainly Net result for the year (-€131,271) and Debts after one year (-€26,464)
- Tangible fixed assets -€37,254
down €37,254 (-7.3%), from €511,840 to €474,587
of which Plant, machinery and equipment: -€32,174
- Profit (loss) carried forward -€131,271
down €131,271 (-79.9%), from -€164,213 to -€295,484
- Debts after one year -€26,464
down €26,464 (-31.0%), from €85,429 to €58,965
- Other debts +€22,185
up €22,185 (+16.6%), from €133,505 to €155,691
- Trade debts -€17,929
down €17,929 (-77.2%), from €23,221 to €5,292
- Financial charges +€78,872
up €78,872 (+519.7%), from €15,177 to €94,048
of which Non-recurring financial charges: +€80,000
- Gross operating margin +€30,756
up €30,756, from -€12,045 to €18,711
- Depreciation +€6,970
up €6,970 (+23.0%), from €30,284 to €37,254
- Other operating charges +€2,913
up €2,913 (+18.4%), from €15,820 to €18,733
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €636,563 | €482,654 | -€153,909 | -24.2% |
| Fixed assets | 21/28 | €511,840 | €474,587 | -€37,254 | -7.3% |
| Tangible fixed assets | 22/27 | €511,840 | €474,587 | -€37,254 | -7.3% |
| Land and buildings | 22 | €181,632 | €176,552 | -€5,080 | -2.8% |
| Plant, machinery and equipment | 23 | €330,209 | €298,035 | -€32,174 | -9.7% |
| Current assets | 29/58 | €124,723 | €8,067 | -€116,655 | -93.5% |
| Cash at bank and in hand | 54/58 | €121,587 | €6,004 | -€115,583 | -95.1% |
| Deferred charges and accrued income | 490/1 | €3,136 | €2,063 | -€1,072 | -34.2% |
| Total equity and liabilities | 10/49 | €636,563 | €482,654 | -€153,909 | -24.2% |
| Equity | 10/15 | €366,173 | €234,901 | -€131,271 | -35.8% |
| Contributions | 10/11 | €222,000 | €222,000 | = | 0.0% |
| Capital | 10 | €222,000 | €222,000 | = | 0.0% |
| Issued capital | 100 | €222,000 | €222,000 | = | 0.0% |
| Reserves | 13 | €308,386 | €308,386 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €302,188 | €302,188 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€164,213 | -€295,484 | -€131,271 | -79.9% |
| Amounts payable | 17/49 | €270,390 | €247,752 | -€22,638 | -8.4% |
| Amounts payable after more than one year | 17 | €85,429 | €58,965 | -€26,464 | -31.0% |
| Financial debts | 170/4 | €85,429 | €58,965 | -€26,464 | -31.0% |
| Amounts payable within one year | 42/48 | €184,961 | €187,447 | +€2,486 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €25,340 | €26,464 | +€1,124 | +4.4% |
| Trade debts | 44 | €23,221 | €5,292 | -€17,929 | -77.2% |
| Suppliers | 440/4 | €23,221 | €5,292 | -€17,929 | -77.2% |
| Taxes, remuneration and social security | 45 | €2,895 | - | -€2,895 | |
| Taxes | 450/3 | €2,895 | - | -€2,895 | |
| Other amounts payable | 47/48 | €133,505 | €155,691 | +€22,185 | +16.6% |
| Accrued charges and deferred income | 492/3 | - | €1,340 | +€1,340 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,284 | €37,254 | +€6,970 | +23.0% |
| Other operating charges | 640/8 | €15,820 | €18,733 | +€2,913 | +18.4% |
| Gross operating margin | 9900 | -€12,045 | €18,711 | +€30,756 | |
| Operating profit (loss) | 9901 | -€58,149 | -€37,275 | +€20,874 | +35.9% |
| Financial income | 75/76B | €17 | €53 | +€35 | +206.8% |
| Recurring financial income | 75 | €17 | €53 | +€35 | +206.8% |
| Financial charges | 65/66B | €15,177 | €94,048 | +€78,872 | +519.7% |
| Recurring financial charges | 65 | €15,177 | €14,048 | -€1,128 | -7.4% |
| Non-recurring financial charges | 66B | - | €80,000 | +€80,000 | |
| Profit (loss) for the period before taxes | 9903 | -€73,309 | -€131,271 | -€57,963 | -79.1% |
| Profit (loss) for the period | 9904 | -€73,309 | -€131,271 | -€57,963 | -79.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,309 | -€131,271 | -€57,963 | -79.1% |
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 30 September 2026 via checked.be.