IMMOFERM: 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.
IMMOFERM
Largest movements
- Tangible fixed assets +€356,530
up €356,530 (+42.9%), from €830,736 to €1.2m
of which Land and buildings: +€352,512
- Receivables within one year +€112,051
up €112,051 (+24.9%), from €449,263 to €561,314
of which Other amounts receivable: +€113,051
- Revaluation surpluses +€403,310
new in 2025: €403,310
- Profit (loss) carried forward +€114,963
up €114,963 (+7.0%), from €1.6m to €1.8m
- Accrued charges and deferred income -€36,000
down €36,000 (-96.3%), from €37,375 to €1,375
- Gross operating margin +€66,254
up €66,254 (+57.8%), from €114,580 to €180,834
- Depreciation +€28,679
up €28,679 (+61.3%), from €46,766 to €75,445
- Financial income -€4,421
down €4,421 (-27.0%), from €16,361 to €11,940
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 | €1,782,198 | €2,247,329 | +€465,131 | +26.1% |
| Fixed assets | 21/28 | €830,811 | €1,187,266 | +€356,455 | +42.9% |
| Intangible fixed assets | 21 | €75 | €0 | -€75 | -100.0% |
| Tangible fixed assets | 22/27 | €830,736 | €1,187,266 | +€356,530 | +42.9% |
| Land and buildings | 22 | €771,175 | €1,123,687 | +€352,512 | +45.7% |
| Plant, machinery and equipment | 23 | €52,157 | €37,450 | -€14,707 | -28.2% |
| Furniture and vehicles | 24 | €3,258 | €21,983 | +€18,725 | +574.7% |
| Other tangible fixed assets | 26 | €4,146 | €4,146 | = | 0.0% |
| Current assets | 29/58 | €951,387 | €1,060,063 | +€108,676 | +11.4% |
| Stocks and contracts in progress | 3 | €267,900 | €267,900 | = | 0.0% |
| Stocks | 30/36 | €267,900 | €267,900 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €449,263 | €561,314 | +€112,051 | +24.9% |
| Trade receivables | 40 | €5,840 | €4,840 | -€1,000 | -17.1% |
| Other amounts receivable | 41 | €443,423 | €556,474 | +€113,051 | +25.5% |
| Cash at bank and in hand | 54/58 | €230,681 | €222,901 | -€7,779 | -3.4% |
| Deferred charges and accrued income | 490/1 | €3,543 | €7,948 | +€4,404 | +124.3% |
| Total equity and liabilities | 10/49 | €1,782,198 | €2,247,329 | +€465,131 | +26.1% |
| Equity | 10/15 | €1,710,824 | €2,229,096 | +€518,273 | +30.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €403,310 | +€403,310 | |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,642,624 | €1,757,586 | +€114,963 | +7.0% |
| Amounts payable | 17/49 | €71,374 | €18,232 | -€53,141 | -74.5% |
| Amounts payable within one year | 42/48 | €33,999 | €16,857 | -€17,141 | -50.4% |
| Trade debts | 44 | €24,586 | €5,211 | -€19,376 | -78.8% |
| Suppliers | 440/4 | €24,586 | €5,211 | -€19,376 | -78.8% |
| Taxes, remuneration and social security | 45 | €9,412 | €11,647 | +€2,234 | +23.7% |
| Taxes | 450/3 | €9,412 | €11,647 | +€2,234 | +23.7% |
| Accrued charges and deferred income | 492/3 | €37,375 | €1,375 | -€36,000 | -96.3% |
| Non-recurring operating income | 76A | €2,500 | €0 | -€2,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,766 | €75,445 | +€28,679 | +61.3% |
| Other operating charges | 640/8 | €2,101 | €2,106 | +€5 | +0.2% |
| Gross operating margin | 9900 | €114,580 | €180,834 | +€66,254 | +57.8% |
| Operating profit (loss) | 9901 | €65,714 | €103,283 | +€37,570 | +57.2% |
| Financial income | 75/76B | €16,361 | €11,940 | -€4,421 | -27.0% |
| Recurring financial income | 75 | €16,361 | €11,940 | -€4,421 | -27.0% |
| Financial charges | 65/66B | €295 | €261 | -€34 | -11.5% |
| Recurring financial charges | 65 | €295 | €261 | -€34 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €81,780 | €114,963 | +€33,183 | +40.6% |
| Profit (loss) for the period | 9904 | €81,780 | €114,963 | +€33,183 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €81,780 | €114,963 | +€33,183 | +40.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.