IMMOFI: 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.
IMMOFI
Largest movements
- Receivables within one year +€4.1m
up €4.1m (+3026.3%), from €134,086 to €4.2m
of which Other amounts receivable: +€4.1m
- Financial fixed assets -€1.4m
down €1.4m (-76.4%), from €1.9m to €440,000
- Tangible fixed assets +€1.1m
up €1.1m (+109.5%), from €994,847 to €2.1m
of which Land and buildings: +€1.1m
- Profit (loss) carried forward +€3.4m
up €3.4m (+303.9%), from €1.1m to €4.5m
- Debts after one year +€1.1m
up €1.1m (+120.9%), from €884,522 to €2.0m
of which Financial debts: +€1.0m
- Revaluation surpluses -€586,343
down €586,343 (-79.1%), from €740,929 to €154,585
- Financial income +€3.3m
up €3.3m (+300597.2%), from €1,111 to €3.3m
of which Non-recurring financial income: +€3.3m
- Gross operating margin -€88,868
down €88,868 (-22.5%), from €394,268 to €305,400
- Taxes -€48,791
no longer reported in 2025 (was €48,791)
- Depreciation +€44,522
up €44,522 (+56.6%), from €78,633 to €123,154
- Financial charges +€16,665
up €16,665 (+27.1%), from €61,387 to €78,052
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 | €3,415,832 | €7,162,839 | +€3.7m | +109.7% |
| Fixed assets | 21/28 | €2,858,620 | €2,524,463 | -€334,158 | -11.7% |
| Tangible fixed assets | 22/27 | €994,847 | €2,084,463 | +€1.1m | +109.5% |
| Land and buildings | 22 | €985,043 | €2,078,496 | +€1.1m | +111.0% |
| Plant, machinery and equipment | 23 | €9,804 | €5,967 | -€3,837 | -39.1% |
| Financial fixed assets | 28 | €1,863,773 | €440,000 | -€1.4m | -76.4% |
| Current assets | 29/58 | €557,212 | €4,638,376 | +€4.1m | +732.4% |
| Stocks and contracts in progress | 3 | €410,492 | €410,643 | +€152 | 0.0% |
| Stocks | 30/36 | €410,492 | €410,643 | +€152 | 0.0% |
| Amounts receivable within one year | 40/41 | €134,086 | €4,191,945 | +€4.1m | +3026.3% |
| Trade receivables | 40 | €80,118 | €66,318 | -€13,800 | -17.2% |
| Other amounts receivable | 41 | €53,967 | €4,125,626 | +€4.1m | +7544.7% |
| Cash at bank and in hand | 54/58 | €12,634 | €35,788 | +€23,154 | +183.3% |
| Total equity and liabilities | 10/49 | €3,415,832 | €7,162,839 | +€3.7m | +109.7% |
| Equity | 10/15 | €1,919,056 | €4,706,144 | +€2.8m | +145.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | €740,929 | €154,585 | -€586,343 | -79.1% |
| 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 | €1,109,954 | €4,483,385 | +€3.4m | +303.9% |
| Amounts payable | 17/49 | €1,496,776 | €2,456,695 | +€959,918 | +64.1% |
| Amounts payable after more than one year | 17 | €884,522 | €1,954,136 | +€1.1m | +120.9% |
| Financial debts | 170/4 | €848,126 | €1,881,850 | +€1.0m | +121.9% |
| Other amounts payable | 178/9 | €36,396 | €72,286 | +€35,890 | +98.6% |
| Amounts payable within one year | 42/48 | €585,775 | €467,558 | -€118,217 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €267,330 | €224,430 | -€42,900 | -16.0% |
| Financial debts | 43 | €28,264 | - | -€28,264 | |
| Credit institutions | 430/8 | €28,264 | - | -€28,264 | |
| Trade debts | 44 | €135,197 | €97,388 | -€37,809 | -28.0% |
| Suppliers | 440/4 | €135,197 | €97,388 | -€37,809 | -28.0% |
| Taxes, remuneration and social security | 45 | €93,791 | €49,261 | -€44,531 | -47.5% |
| Taxes | 450/3 | €93,791 | €49,261 | -€44,531 | -47.5% |
| Other amounts payable | 47/48 | €61,193 | €96,480 | +€35,287 | +57.7% |
| Accrued charges and deferred income | 492/3 | €26,479 | €35,000 | +€8,521 | +32.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,633 | €123,154 | +€44,522 | +56.6% |
| Other operating charges | 640/8 | €66,030 | €70,276 | +€4,246 | +6.4% |
| Gross operating margin | 9900 | €394,268 | €305,400 | -€88,868 | -22.5% |
| Operating profit (loss) | 9901 | €249,606 | €111,970 | -€137,636 | -55.1% |
| Financial income | 75/76B | €1,111 | €3,339,513 | +€3.3m | +300597.2% |
| Recurring financial income | 75 | €1,111 | €33,943 | +€32,833 | +2956.3% |
| Non-recurring financial income | 76B | - | €3,305,570 | +€3.3m | |
| Financial charges | 65/66B | €61,387 | €78,052 | +€16,665 | +27.1% |
| Recurring financial charges | 65 | €61,387 | €78,052 | +€16,665 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | €189,330 | €3,373,432 | +€3.2m | +1681.8% |
| Income taxes | 67/77 | €48,791 | - | -€48,791 | |
| Profit (loss) for the period | 9904 | €140,538 | €3,373,432 | +€3.2m | +2300.4% |
| Profit (loss) for the period to be appropriated | 9905 | €140,538 | €3,373,432 | +€3.2m | +2300.4% |
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 10 October 2026 via checked.be.