IMMOFOS: 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
IMMOFOS
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€673,164
2024 · €1.1m-€1.7m
Equity
€5.3m
2024 · €6.0m-€673,164
Cash
€129,682
2024 · €368,204-€238,522
Balance sheet total
€28.1m
2024 · €7.6m+€20.5m
Largest movements
Assets
- Receivables after one year +€10.6m
new in 2025: €10.6m
- Deferred charges and accrued income +€5.5m
new in 2025: €5.5m
- Tangible fixed assets +€3.1m
new in 2025: €3.1m
- Receivables within one year +€2.2m
up €2.2m (+45.3%), from €4.9m to €7.2m
of which Trade receivables: +€2.2m
- Current investments -€1.9m
down €1.9m (-82.6%), from €2.3m to €400,839
Equity and liabilities
- Accrued charges and deferred income +€10.6m
new in 2025: €10.6m
- Debts after one year +€5.5m
new in 2025: €5.5m
- Short-term financial debts +€5.2m
new in 2025: €5.2m
- Profit (loss) carried forward -€666,859
down €666,859 (-84.7%), from €787,474 to €120,616
Income statement
- Gross operating margin -€2.1m
down €2.1m, from €1.3m to -€803,427
- Purchases and services +€718,470
up €718,470 (+840.3%), from €85,506 to €803,976
- Taxes -€112,884
down €112,884, from €92,333 to -€20,551
- Financial charges +€49,921
up €49,921 (+24836.4%), from €201 to €50,122
- Financial income +€27,787
up €27,787 (+19.9%), from €139,490 to €167,276
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
-€2.1m
Depreciation
-€3,497
Other operating charges
+€5,353
Financial income
+€27,787
Financial charges
-€49,921
Taxes
+€112,884
Deferred taxes and other
+€318,770
Result 2025
-€673,164
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
-€8.5m
Investment
-€2.5m
Financing
+€10.7m
Cash 2024
€368,204
From operations (derived)
-€8.5m
Net result for the year
-€673,164
Depreciation
+€3,703
Receivables after one year
-€10.6m
Receivables within one year
-€2.2m
Deferred charges and accrued income
-€5.5m
Smaller working-capital items
+€472
Tax, wage and social debts
-€112,253
Accrued charges and deferred income
+€10.6m
Investment (derived)
-€2.5m
Investment in fixed assets (net)
-€4.4m
Current investments
+€1.9m
Financing
+€10.7m
Debts after one year
+€5.5m
Short-term financial debts
+€5.2m
Cash 2025
€129,682
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,610,786 | €28,147,421 | +€20.5m | +269.8% |
| Formation expenses | 20 | €434 | €227 | -€207 | -47.6% |
| Fixed assets | 21/28 | - | €4,368,399 | +€4.4m | |
| Tangible fixed assets | 22/27 | - | €3,058,399 | +€3.1m | |
| Land and buildings | 22 | - | €3,058,399 | +€3.1m | |
| Financial fixed assets | 28 | - | €1,310,000 | +€1.3m | |
| Current assets | 29/58 | €7,610,353 | €23,778,795 | +€16.2m | +212.5% |
| Amounts receivable after more than one year | 29 | - | €10,625,040 | +€10.6m | |
| Trade receivables | 290 | - | €10,625,040 | +€10.6m | |
| Amounts receivable within one year | 40/41 | €4,932,149 | €7,163,979 | +€2.2m | +45.3% |
| Trade receivables | 40 | - | €2,231,258 | +€2.2m | |
| Other amounts receivable | 41 | €4,932,149 | €4,932,721 | +€572 | 0.0% |
| Current investments | 50/53 | €2,310,000 | €400,839 | -€1.9m | -82.6% |
| Cash at bank and in hand | 54/58 | €368,204 | €129,682 | -€238,522 | -64.8% |
| Deferred charges and accrued income | 490/1 | - | €5,459,255 | +€5.5m | |
| Total equity and liabilities | 10/49 | €7,610,786 | €28,147,421 | +€20.5m | +269.8% |
| Equity | 10/15 | €5,975,341 | €5,302,177 | -€673,164 | -11.3% |
| Contributions | 10/11 | €531,000 | €531,000 | = | 0.0% |
| Reserves | 13 | €4,656,867 | €4,650,562 | -€6,305 | -0.1% |
| Non-distributable reserves | 130/1 | €100,656 | €100,656 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100,656 | €100,656 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,556,179 | €4,549,874 | -€6,305 | -0.1% |
| Distributable reserves | 133 | €31 | €31 | = | 0.0% |
| Profit (loss) carried forward | 14 | €787,474 | €120,616 | -€666,859 | -84.7% |
| Provisions and deferred taxes | 16 | €1,517,959 | €1,515,857 | -€2,102 | -0.1% |
| Deferred taxes | 168 | €1,517,959 | €1,515,857 | -€2,102 | -0.1% |
| Amounts payable | 17/49 | €117,486 | €21,329,386 | +€21.2m | +18054.8% |
| Amounts payable after more than one year | 17 | - | €5,459,255 | +€5.5m | |
| Other amounts payable | 178/9 | - | €5,459,255 | +€5.5m | |
| Amounts payable within one year | 42/48 | €117,486 | €5,244,231 | +€5.1m | +4363.7% |
| Financial debts | 43 | - | €5,236,424 | +€5.2m | |
| Credit institutions | 430/8 | - | €5,236,424 | +€5.2m | |
| Trade debts | 44 | €5,037 | €7,610 | +€2,573 | +51.1% |
| Suppliers | 440/4 | €5,037 | €7,610 | +€2,573 | +51.1% |
| Taxes, remuneration and social security | 45 | €112,253 | - | -€112,253 | |
| Taxes | 450/3 | €112,253 | - | -€112,253 | |
| Other amounts payable | 47/48 | €197 | €197 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €10,625,900 | +€10.6m | |
| Goods, raw materials, services and sundry goods | 60/61 | €85,506 | €803,976 | +€718,470 | +840.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207 | €3,703 | +€3,497 | +1692.8% |
| Other operating charges | 640/8 | €11,193 | €5,840 | -€5,353 | -47.8% |
| Gross operating margin | 9900 | €1,340,107 | -€803,427 | -€2.1m | |
| Operating profit (loss) | 9901 | €1,328,707 | -€812,970 | -€2.1m | |
| Financial income | 75/76B | €139,490 | €167,276 | +€27,787 | +19.9% |
| Recurring financial income | 75 | €139,490 | €167,276 | +€27,787 | +19.9% |
| Financial charges | 65/66B | €201 | €50,122 | +€49,921 | +24836.4% |
| Recurring financial charges | 65 | €201 | €50,122 | +€49,921 | +24836.4% |
| Profit (loss) for the period before taxes | 9903 | €1,467,996 | -€695,816 | -€2.2m | |
| Transfer from deferred taxes | 780 | €33,956 | €3,364 | -€30,591 | -90.1% |
| Transfer to deferred taxes | 680 | €350,624 | €1,263 | -€349,361 | -99.6% |
| Income taxes | 67/77 | €92,333 | -€20,551 | -€112,884 | |
| Profit (loss) for the period | 9904 | €1,058,995 | -€673,164 | -€1.7m | |
| Transfer from tax-exempt reserves | 789 | €101,867 | €10,093 | -€91,774 | -90.1% |
| Transfer to tax-exempt reserves | 689 | €1,051,871 | €3,788 | -€1.0m | -99.6% |
| Profit (loss) for the period to be appropriated | 9905 | €108,992 | -€666,859 | -€775,850 |
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 4 October 2026 via checked.be.