IMMOFER: 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.
IMMOFER
Largest movements
- Cash +€2.0m
up €2.0m (+26117.8%), from €7,579 to €2.0m
mainly Advances received (+€2.0m) and Depreciation (+€44,016)
- Advances received +€2.0m
up €2.0m (+2509.7%), from €78,903 to €2.1m
- Profit (loss) carried forward -€70,270
down €70,270 (-6.9%), from -€1.0m to -€1.1m
- Staff costs -€3,989
down €3,989 (-4.5%), from €89,532 to €85,543
- Gross operating margin +€3,708
up €3,708 (+5.1%), from €72,379 to €76,087
- Other operating charges +€2,070
up €2,070 (+32.8%), from €6,303 to €8,373
- Financial charges +€1,079
up €1,079 (+15.0%), from €7,171 to €8,249
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 | €3,321,018 | €5,253,385 | +€1.9m | +58.2% |
| Fixed assets | 21/28 | €3,304,099 | €3,261,768 | -€42,331 | -1.3% |
| Tangible fixed assets | 22/27 | €3,303,982 | €3,261,768 | -€42,214 | -1.3% |
| Land and buildings | 22 | €3,302,905 | €3,259,742 | -€43,163 | -1.3% |
| Plant, machinery and equipment | 23 | €1,076 | €400 | -€676 | -62.9% |
| Furniture and vehicles | 24 | - | €1,626 | +€1,626 | |
| Financial fixed assets | 28 | €117 | - | -€117 | |
| Current assets | 29/58 | €16,919 | €1,991,617 | +€2.0m | +11671.4% |
| Amounts receivable within one year | 40/41 | €3,914 | €3,374 | -€540 | -13.8% |
| Trade receivables | 40 | €3,914 | €3,374 | -€540 | -13.8% |
| Cash at bank and in hand | 54/58 | €7,579 | €1,986,958 | +€2.0m | +26117.8% |
| Deferred charges and accrued income | 490/1 | €5,426 | €1,285 | -€4,141 | -76.3% |
| Total equity and liabilities | 10/49 | €3,321,018 | €5,253,385 | +€1.9m | +58.2% |
| Equity | 10/15 | €3,015,499 | €2,945,229 | -€70,270 | -2.3% |
| Contributions | 10/11 | €612,347 | €612,347 | = | 0.0% |
| Revaluation surpluses | 12 | €2,987,867 | €2,959,159 | -€28,708 | -1.0% |
| Reserves | 13 | €436,329 | €465,036 | +€28,708 | +6.6% |
| Non-distributable reserves | 130/1 | €18,164 | €18,164 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,164 | €18,164 | = | 0.0% |
| Tax-exempt reserves | 132 | €114,830 | €143,538 | +€28,708 | +25.0% |
| Distributable reserves | 133 | €303,334 | €303,334 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,021,043 | -€1,091,313 | -€70,270 | -6.9% |
| Amounts payable | 17/49 | €305,519 | €2,308,156 | +€2.0m | +655.5% |
| Amounts payable within one year | 42/48 | €302,662 | €2,304,554 | +€2.0m | +661.4% |
| Trade debts | 44 | €21,250 | €14,406 | -€6,844 | -32.2% |
| Suppliers | 440/4 | €21,250 | €14,406 | -€6,844 | -32.2% |
| Advances received on contracts in progress | 46 | €78,903 | €2,059,166 | +€2.0m | +2509.7% |
| Taxes, remuneration and social security | 45 | €10,914 | €5,452 | -€5,463 | -50.1% |
| Taxes | 450/3 | €2,297 | €990 | -€1,306 | -56.9% |
| Remuneration and social security | 454/9 | €8,617 | €4,461 | -€4,156 | -48.2% |
| Other amounts payable | 47/48 | €191,594 | €225,530 | +€33,936 | +17.7% |
| Accrued charges and deferred income | 492/3 | €2,857 | €3,602 | +€745 | +26.1% |
| Non-recurring operating income | 76A | - | €2,002 | +€2,002 | |
| Remuneration, social security and pensions | 62 | €89,532 | €85,543 | -€3,989 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,946 | €44,016 | +€70 | +0.2% |
| Other operating charges | 640/8 | €6,303 | €8,373 | +€2,070 | +32.8% |
| Gross operating margin | 9900 | €72,379 | €76,087 | +€3,708 | +5.1% |
| Operating profit (loss) | 9901 | -€67,402 | -€61,844 | +€5,558 | +8.2% |
| Financial charges | 65/66B | €7,171 | €8,249 | +€1,079 | +15.0% |
| Recurring financial charges | 65 | €7,171 | €8,249 | +€1,079 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | -€74,573 | -€70,094 | +€4,479 | +6.0% |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | -€74,747 | -€70,270 | +€4,477 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€74,747 | -€70,270 | +€4,477 | +6.0% |
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 28 September 2026 via checked.be.