IMMOFIL: 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.
What changed
IMMOFIL
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €1.1m+€66,923
Equity
€9.7m
2024 · €8.6m+€1.2m
Cash
€81,613
2024 · €49,153+€32,460
Balance sheet total
€15.3m
2024 · €16.4m-€1.1m
Largest movements
Assets
- Tangible fixed assets -€1.2m
down €1.2m (-7.4%), from €16.3m to €15.1m
Equity and liabilities
- Other debts -€2.1m
down €2.1m (-28.0%), from €7.4m to €5.3m
- Reserves +€1.8m
up €1.8m (+24.4%), from €7.4m to €9.2m
of which Distributable reserves: +€1.9m
- Profit (loss) carried forward -€634,429
down €634,429 (-92.9%), from €683,261 to €48,832
Income statement
- Gross operating margin +€164,162
up €164,162 (+5.0%), from €3.3m to €3.4m
- Other operating charges +€137,525
up €137,525 (+41.8%), from €329,143 to €466,668
- Financial charges -€63,037
down €63,037 (-24.8%), from €253,962 to €190,925
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.
Result 2024
€1.1m
Gross operating margin
+€164,162
Depreciation
-€319
Other operating charges
-€137,525
Financial income
-€159
Financial charges
+€63,037
Taxes
-€10,916
Deferred taxes and other
-€11,357
Result 2025
€1.2m
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.
From operations
+€47,433
Investment
-€14,973
Financing
€0
Cash 2024
€49,153
From operations (derived)
+€47,433
Net result for the year
+€1.2m
Depreciation
+€1.2m
Receivables within one year
-€67,128
Deferred charges and accrued income
+€23,525
Provisions
-€32,487
Trade debts
+€46,900
Tax, wage and social debts
-€110,287
Other debts
-€2.1m
Accrued charges and deferred income
-€132,428
Investment (derived)
-€14,973
Investment in fixed assets (net)
-€14,973
Cash 2025
€81,613
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,444,149 | €15,306,382 | -€1.1m | -6.9% |
| Fixed assets | 21/28 | €16,333,218 | €15,119,387 | -€1.2m | -7.4% |
| Tangible fixed assets | 22/27 | €16,333,218 | €15,119,387 | -€1.2m | -7.4% |
| Land and buildings | 22 | €16,333,218 | €15,119,387 | -€1.2m | -7.4% |
| Current assets | 29/58 | €110,932 | €186,995 | +€76,063 | +68.6% |
| Amounts receivable within one year | 40/41 | €35,095 | €102,224 | +€67,128 | +191.3% |
| Trade receivables | 40 | - | €28,966 | +€28,966 | |
| Other amounts receivable | 41 | €35,095 | €73,257 | +€38,162 | +108.7% |
| Cash at bank and in hand | 54/58 | €49,153 | €81,613 | +€32,460 | +66.0% |
| Deferred charges and accrued income | 490/1 | €26,684 | €3,158 | -€23,525 | -88.2% |
| Total equity and liabilities | 10/49 | €16,444,149 | €15,306,382 | -€1.1m | -6.9% |
| Equity | 10/15 | €8,564,053 | €9,732,163 | +€1.2m | +13.6% |
| Contributions | 10/11 | €490,000 | €490,000 | = | 0.0% |
| Capital | 10 | €490,000 | €490,000 | = | 0.0% |
| Issued capital | 100 | €490,000 | €490,000 | = | 0.0% |
| Reserves | 13 | €7,390,792 | €9,193,330 | +€1.8m | +24.4% |
| Non-distributable reserves | 130/1 | €49,000 | €49,000 | = | 0.0% |
| Legal reserve | 130 | €49,000 | €49,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €341,792 | €244,330 | -€97,462 | -28.5% |
| Distributable reserves | 133 | €7,000,000 | €8,900,000 | +€1.9m | +27.1% |
| Profit (loss) carried forward | 14 | €683,261 | €48,832 | -€634,429 | -92.9% |
| Provisions and deferred taxes | 16 | €113,931 | €81,443 | -€32,487 | -28.5% |
| Deferred taxes | 168 | €113,931 | €81,443 | -€32,487 | -28.5% |
| Amounts payable | 17/49 | €7,766,166 | €5,492,776 | -€2.3m | -29.3% |
| Amounts payable within one year | 42/48 | €7,537,742 | €5,396,781 | -€2.1m | -28.4% |
| Trade debts | 44 | - | €46,900 | +€46,900 | |
| Suppliers | 440/4 | - | €46,900 | +€46,900 | |
| Taxes, remuneration and social security | 45 | €110,287 | - | -€110,287 | |
| Taxes | 450/3 | €110,287 | - | -€110,287 | |
| Other amounts payable | 47/48 | €7,427,456 | €5,349,881 | -€2.1m | -28.0% |
| Accrued charges and deferred income | 492/3 | €228,423 | €95,995 | -€132,428 | -58.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,228,484 | €1,228,803 | +€319 | 0.0% |
| Other operating charges | 640/8 | €329,143 | €466,668 | +€137,525 | +41.8% |
| Gross operating margin | 9900 | €3,279,669 | €3,443,831 | +€164,162 | +5.0% |
| Operating profit (loss) | 9901 | €1,722,042 | €1,748,360 | +€26,317 | +1.5% |
| Financial income | 75/76B | €204 | €45 | -€159 | -78.0% |
| Recurring financial income | 75 | €204 | €45 | -€159 | -78.0% |
| Financial charges | 65/66B | €253,962 | €190,925 | -€63,037 | -24.8% |
| Recurring financial charges | 65 | €253,962 | €190,925 | -€63,037 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €1,468,284 | €1,557,480 | +€89,196 | +6.1% |
| Transfer from deferred taxes | 780 | €43,844 | €32,487 | -€11,357 | -25.9% |
| Income taxes | 67/77 | €410,941 | €421,857 | +€10,916 | +2.7% |
| Profit (loss) for the period | 9904 | €1,101,187 | €1,168,110 | +€66,923 | +6.1% |
| Transfer from tax-exempt reserves | 789 | €131,492 | €97,462 | -€34,030 | -25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,232,678 | €1,265,571 | +€32,893 | +2.7% |
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 29 September 2026 via checked.be.