IMMOGAL: 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.
IMMOGAL
Largest movements
- Tangible fixed assets -€40,983
down €40,983 (-7.7%), from €529,822 to €488,839
of which Land and buildings: -€40,022
- Receivables within one year +€38,714
up €38,714 (+11.2%), from €344,560 to €383,274
of which Other amounts receivable: +€25,000
- Cash -€13,109
down €13,109 (-28.0%), from €46,863 to €33,754
mainly Contributions, distributions and other (-€92,000) and Trade debts (-€39,039)
- Trade debts -€39,039
down €39,039 (-73.5%), from €53,092 to €14,054
- Profit (loss) carried forward +€19,230
up €19,230 (+10.6%), from €181,618 to €200,847
- Staff costs -€45,970
no longer reported in 2025 (was €45,970)
- Gross operating margin -€45,634
down €45,634 (-16.1%), from €282,889 to €237,256
- Other operating charges +€9,623
up €9,623 (+24.2%), from €39,710 to €49,333
- Taxes -€3,225
down €3,225 (-7.0%), from €45,870 to €42,645
- Financial income -€2,973
down €2,973 (-23.7%), from €12,542 to €9,569
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 | €960,361 | €943,867 | -€16,494 | -1.7% |
| Fixed assets | 21/28 | €567,822 | €526,839 | -€40,983 | -7.2% |
| Tangible fixed assets | 22/27 | €529,822 | €488,839 | -€40,983 | -7.7% |
| Land and buildings | 22 | €525,328 | €485,306 | -€40,022 | -7.6% |
| Plant, machinery and equipment | 23 | €4,494 | €3,533 | -€961 | -21.4% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €38,000 | €38,000 | = | 0.0% |
| Current assets | 29/58 | €392,539 | €417,028 | +€24,489 | +6.2% |
| Amounts receivable within one year | 40/41 | €344,560 | €383,274 | +€38,714 | +11.2% |
| Trade receivables | 40 | €12,542 | €26,256 | +€13,714 | +109.3% |
| Other amounts receivable | 41 | €332,018 | €357,018 | +€25,000 | +7.5% |
| Cash at bank and in hand | 54/58 | €46,863 | €33,754 | -€13,109 | -28.0% |
| Deferred charges and accrued income | 490/1 | €1,116 | - | -€1,116 | |
| Total equity and liabilities | 10/49 | €960,361 | €943,867 | -€16,494 | -1.7% |
| Equity | 10/15 | €756,618 | €775,847 | +€19,230 | +2.5% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €325,000 | €325,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €181,618 | €200,847 | +€19,230 | +10.6% |
| Amounts payable | 17/49 | €203,743 | €168,019 | -€35,724 | -17.5% |
| Amounts payable after more than one year | 17 | €19,170 | €19,170 | = | 0.0% |
| Other amounts payable | 178/9 | €19,170 | €19,170 | = | 0.0% |
| Amounts payable within one year | 42/48 | €184,572 | €148,849 | -€35,724 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €53,092 | €14,054 | -€39,039 | -73.5% |
| Suppliers | 440/4 | €53,092 | €14,054 | -€39,039 | -73.5% |
| Taxes, remuneration and social security | 45 | €36,212 | €42,444 | +€6,232 | +17.2% |
| Taxes | 450/3 | €36,212 | €42,444 | +€6,232 | +17.2% |
| Other amounts payable | 47/48 | €95,268 | €92,351 | -€2,917 | -3.1% |
| Remuneration, social security and pensions | 62 | €45,970 | - | -€45,970 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,033 | €40,983 | +€950 | +2.4% |
| Other operating charges | 640/8 | €39,710 | €49,333 | +€9,623 | +24.2% |
| Gross operating margin | 9900 | €282,889 | €237,256 | -€45,634 | -16.1% |
| Operating profit (loss) | 9901 | €157,175 | €146,939 | -€10,236 | -6.5% |
| Financial income | 75/76B | €12,542 | €9,569 | -€2,973 | -23.7% |
| Recurring financial income | 75 | €12,542 | €9,569 | -€2,973 | -23.7% |
| Financial charges | 65/66B | €2,623 | €2,634 | +€10 | +0.4% |
| Recurring financial charges | 65 | €2,623 | €2,634 | +€10 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €167,094 | €153,875 | -€13,219 | -7.9% |
| Income taxes | 67/77 | €45,870 | €42,645 | -€3,225 | -7.0% |
| Profit (loss) for the period | 9904 | €121,224 | €111,230 | -€9,994 | -8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €121,224 | €111,230 | -€9,994 | -8.2% |
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 11 October 2026 via checked.be.