IMMOGA: 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.
IMMOGA
Largest movements
- Cash -€8,892
down €8,892 (-28.1%), from €31,664 to €22,773
mainly Contributions, distributions and other (-€28,641) and Investment in fixed assets (net) (-€22,460)
- Tangible fixed assets +€4,782
up €4,782 (+1.6%), from €301,625 to €306,406
of which Land and buildings: +€5,148
- Reserves -€9,716
down €9,716 (-7.0%), from €137,984 to €128,268
of which Tax-exempt reserves: -€9,716
- Gross operating margin +€6,228
up €6,228 (+14.5%), from €42,846 to €49,074
- Depreciation +€2,018
up €2,018 (+12.9%), from €15,660 to €17,678
- Taxes +€823
up €823 (+8.5%), from €9,630 to €10,453
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.
Derived cash bridge
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 | €367,401 | €360,330 | -€7,071 | -1.9% |
| Fixed assets | 21/28 | €301,625 | €306,406 | +€4,782 | +1.6% |
| Tangible fixed assets | 22/27 | €301,625 | €306,406 | +€4,782 | +1.6% |
| Land and buildings | 22 | €300,892 | €306,040 | +€5,148 | +1.7% |
| Plant, machinery and equipment | 23 | €732 | €366 | -€366 | -50.0% |
| Current assets | 29/58 | €65,776 | €53,923 | -€11,853 | -18.0% |
| Amounts receivable within one year | 40/41 | €34,112 | €31,151 | -€2,961 | -8.7% |
| Other amounts receivable | 41 | €34,112 | €31,151 | -€2,961 | -8.7% |
| Cash at bank and in hand | 54/58 | €31,664 | €22,773 | -€8,892 | -28.1% |
| Total equity and liabilities | 10/49 | €367,401 | €360,330 | -€7,071 | -1.9% |
| Equity | 10/15 | €285,732 | €276,015 | -€9,716 | -3.4% |
| Contributions | 10/11 | €306,149 | €306,149 | = | 0.0% |
| Capital | 10 | €306,149 | €306,149 | = | 0.0% |
| Issued capital | 100 | €306,149 | €306,149 | = | 0.0% |
| Reserves | 13 | €137,984 | €128,268 | -€9,716 | -7.0% |
| Non-distributable reserves | 130/1 | €30,615 | €30,615 | = | 0.0% |
| Legal reserve | 130 | €30,615 | €30,615 | = | 0.0% |
| Tax-exempt reserves | 132 | €107,369 | €97,653 | -€9,716 | -9.0% |
| Profit (loss) carried forward | 14 | -€158,401 | -€158,401 | = | 0.0% |
| Provisions and deferred taxes | 16 | €35,751 | €32,516 | -€3,235 | -9.0% |
| Deferred taxes | 168 | €35,751 | €32,516 | -€3,235 | -9.0% |
| Amounts payable | 17/49 | €45,917 | €51,798 | +€5,881 | +12.8% |
| Amounts payable within one year | 42/48 | €45,917 | €51,798 | +€5,881 | +12.8% |
| Trade debts | 44 | €2,165 | €3,074 | +€909 | +42.0% |
| Suppliers | 440/4 | €2,165 | €3,074 | +€909 | +42.0% |
| Taxes, remuneration and social security | 45 | €25,756 | €28,675 | +€2,919 | +11.3% |
| Taxes | 450/3 | €25,756 | €28,675 | +€2,919 | +11.3% |
| Other amounts payable | 47/48 | €17,997 | €20,049 | +€2,052 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,660 | €17,678 | +€2,018 | +12.9% |
| Other operating charges | 640/8 | €6,692 | €6,884 | +€192 | +2.9% |
| Gross operating margin | 9900 | €42,846 | €49,074 | +€6,228 | +14.5% |
| Operating profit (loss) | 9901 | €20,494 | €24,512 | +€4,018 | +19.6% |
| Financial income | 75/76B | €2,161 | €1,876 | -€286 | -13.2% |
| Recurring financial income | 75 | €2,161 | €1,876 | -€286 | -13.2% |
| Financial charges | 65/66B | €267 | €246 | -€21 | -7.8% |
| Recurring financial charges | 65 | €267 | €246 | -€21 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €22,388 | €26,142 | +€3,754 | +16.8% |
| Transfer from deferred taxes | 780 | €3,235 | €3,235 | = | 0.0% |
| Income taxes | 67/77 | €9,630 | €10,453 | +€823 | +8.5% |
| Profit (loss) for the period | 9904 | €15,994 | €18,925 | +€2,931 | +18.3% |
| Transfer from tax-exempt reserves | 789 | €9,716 | €9,716 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,710 | €28,641 | +€2,931 | +11.4% |
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 15 October 2026 via checked.be.