IMMOFOM: 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.
IMMOFOM
Largest movements
- Current investments +€40,000
up €40,000 (+36.4%), from €110,000 to €150,000
- Cash +€9,550
up €9,550 (+64.6%), from €14,781 to €24,331
mainly Net result for the year (+€55,319) and Depreciation (+€10,572)
- Tangible fixed assets -€8,920
down €8,920 (-1.8%), from €483,537 to €474,617
- Reserves +€55,319
up €55,319 (+12.0%), from €459,595 to €514,913
of which Distributable reserves: +€55,319
- Tax, wage and social debts -€11,237
down €11,237 (-82.5%), from €13,624 to €2,387
- Gross operating margin -€5,721
down €5,721 (-5.0%), from €115,478 to €109,757
- Write-downs +€4,850
new in 2025: €4,850
- Taxes -€4,133
down €4,133 (-18.3%), from €22,573 to €18,440
- Financial income +€2,142
up €2,142 (+13736.8%), from €16 to €2,157
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 | €611,530 | €659,514 | +€47,984 | +7.8% |
| Fixed assets | 21/28 | €483,537 | €474,617 | -€8,920 | -1.8% |
| Tangible fixed assets | 22/27 | €483,537 | €474,617 | -€8,920 | -1.8% |
| Land and buildings | 22 | €483,537 | €474,617 | -€8,920 | -1.8% |
| Current assets | 29/58 | €127,993 | €184,897 | +€56,904 | +44.5% |
| Amounts receivable within one year | 40/41 | €3,212 | €9,356 | +€6,144 | +191.3% |
| Trade receivables | 40 | €3,178 | €6,971 | +€3,792 | +119.3% |
| Other amounts receivable | 41 | €34 | €2,385 | +€2,352 | +7003.7% |
| Current investments | 50/53 | €110,000 | €150,000 | +€40,000 | +36.4% |
| Cash at bank and in hand | 54/58 | €14,781 | €24,331 | +€9,550 | +64.6% |
| Deferred charges and accrued income | 490/1 | - | €1,210 | +€1,210 | |
| Total equity and liabilities | 10/49 | €611,530 | €659,514 | +€47,984 | +7.8% |
| Equity | 10/15 | €594,480 | €649,798 | +€55,319 | +9.3% |
| Contributions | 10/11 | €134,885 | €134,885 | = | 0.0% |
| Reserves | 13 | €459,595 | €514,913 | +€55,319 | +12.0% |
| Non-distributable reserves | 130/1 | €14,269 | €14,269 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,517 | €14,269 | +€4,752 | +49.9% |
| Other | 1319 | €4,752 | €0 | -€4,752 | -100.0% |
| Tax-exempt reserves | 132 | €110,705 | €110,705 | = | 0.0% |
| Distributable reserves | 133 | €334,621 | €389,940 | +€55,319 | +16.5% |
| Amounts payable | 17/49 | €17,050 | €9,715 | -€7,335 | -43.0% |
| Amounts payable after more than one year | 17 | €3,300 | €3,300 | = | 0.0% |
| Other amounts payable | 178/9 | €3,300 | €3,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €13,750 | €4,535 | -€9,215 | -67.0% |
| Trade debts | 44 | €126 | €2,148 | +€2,022 | +1604.6% |
| Suppliers | 440/4 | €126 | €2,148 | +€2,022 | +1604.6% |
| Taxes, remuneration and social security | 45 | €13,624 | €2,387 | -€11,237 | -82.5% |
| Taxes | 450/3 | €13,624 | €2,387 | -€11,237 | -82.5% |
| Accrued charges and deferred income | 492/3 | - | €1,880 | +€1,880 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,351 | €10,572 | +€221 | +2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,850 | +€4,850 | |
| Other operating charges | 640/8 | €22,384 | €22,688 | +€304 | +1.4% |
| Gross operating margin | 9900 | €115,478 | €109,757 | -€5,721 | -5.0% |
| Operating profit (loss) | 9901 | €82,743 | €71,647 | -€11,096 | -13.4% |
| Financial income | 75/76B | €16 | €2,157 | +€2,142 | +13736.8% |
| Recurring financial income | 75 | €16 | €2,157 | +€2,142 | +13736.8% |
| Financial charges | 65/66B | €16 | €46 | +€30 | +180.1% |
| Recurring financial charges | 65 | €16 | €46 | +€30 | +180.1% |
| Profit (loss) for the period before taxes | 9903 | €82,742 | €73,758 | -€8,984 | -10.9% |
| Income taxes | 67/77 | €22,573 | €18,440 | -€4,133 | -18.3% |
| Profit (loss) for the period | 9904 | €60,169 | €55,319 | -€4,851 | -8.1% |
| Transfer from tax-exempt reserves | 789 | €8,517 | €0 | -€8,517 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €68,686 | €55,319 | -€13,367 | -19.5% |
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.