IMMOGAB: 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.
IMMOGAB
Largest movements
- Stocks and contracts +€337,449
new in 2025: €337,449
- Tangible fixed assets -€248,461
down €248,461 (-100%), from €248,461 to €0
- Cash +€5,110
up €5,110 (+1,233%), from €415 to €5,525
mainly Investment in fixed assets (net) (+€248,461) and Other debts (+€101,887)
- Other debts +€101,887
up €101,887 (+1,109%), from €9,190 to €111,077
- Trade debts +€20,584
up €20,584 (+600%), from €3,432 to €24,016
- Tax, wage and social debts -€10,277
down €10,277 (-91.7%), from €11,211 to €934
- Reserves -€8,005
down €8,005 (-71.4%), from €11,212 to €3,206
- Accrued charges and deferred income -€6,586
down €6,586 (-100%), from €6,586 to €0
- Gross operating margin +€12,711
up €12,711 (+77.8%), from -€16,332 to -€3,621
- Depreciation -€9,663
down €9,663 (-100%), from €9,663 to €0
- Write-downs -€9,663
new in 2025: -€9,663
- Financial charges +€6,397
up €6,397 (+88.2%), from €7,251 to €13,647
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 | €255,905 | €353,508 | +€97,603 | +38.1% |
| Fixed assets | 21/28 | €253,961 | €5,500 | -€248,461 | -97.8% |
| Tangible fixed assets | 22/27 | €248,461 | €0 | -€248,461 | -100% |
| Land and buildings | 22 | €248,461 | €0 | -€248,461 | -100% |
| Financial fixed assets | 28 | €5,500 | €5,500 | = | 0.0% |
| Current assets | 29/58 | €1,945 | €348,008 | +€346,064 | +17,796% |
| Stocks and contracts in progress | 3 | - | €337,449 | +€337,449 | |
| Stocks | 30/36 | - | €337,449 | +€337,449 | |
| Amounts receivable within one year | 40/41 | €1,530 | €5,034 | +€3,504 | +229% |
| Trade receivables | 40 | €1,530 | €0 | -€1,530 | -100% |
| Other amounts receivable | 41 | €0 | €5,034 | +€5,034 | |
| Cash at bank and in hand | 54/58 | €415 | €5,525 | +€5,110 | +1,233% |
| Total equity and liabilities | 10/49 | €255,905 | €353,508 | +€97,603 | +38.1% |
| Equity | 10/15 | €51,212 | €43,206 | -€8,005 | -15.6% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €11,212 | €3,206 | -€8,005 | -71.4% |
| Distributable reserves | 133 | €11,212 | €3,206 | -€8,005 | -71.4% |
| Amounts payable | 17/49 | €204,694 | €310,302 | +€105,608 | +51.6% |
| Amounts payable within one year | 42/48 | €198,108 | €310,302 | +€112,194 | +56.6% |
| Financial debts | 43 | €174,275 | €174,275 | = | 0.0% |
| Credit institutions | 430/8 | €174,275 | €174,275 | = | 0.0% |
| Trade debts | 44 | €3,432 | €24,016 | +€20,584 | +600% |
| Suppliers | 440/4 | €3,432 | €24,016 | +€20,584 | +600% |
| Taxes, remuneration and social security | 45 | €11,211 | €934 | -€10,277 | -91.7% |
| Taxes | 450/3 | €11,211 | €934 | -€10,277 | -91.7% |
| Other amounts payable | 47/48 | €9,190 | €111,077 | +€101,887 | +1,109% |
| Accrued charges and deferred income | 492/3 | €6,586 | €0 | -€6,586 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,663 | €0 | -€9,663 | -100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€9,663 | -€9,663 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€16,332 | -€3,621 | +€12,711 | +77.8% |
| Operating profit (loss) | 9901 | -€26,383 | €5,642 | +€32,025 | |
| Financial charges | 65/66B | €7,251 | €13,647 | +€6,397 | +88.2% |
| Recurring financial charges | 65 | €7,251 | €13,647 | +€6,397 | +88.2% |
| Profit (loss) for the period before taxes | 9903 | -€33,633 | -€8,005 | +€25,628 | +76.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€33,633 | -€8,005 | +€25,628 | +76.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,633 | -€8,005 | +€25,628 | +76.2% |
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 13 October 2026 via checked.be.