IMMOGO: 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.
IMMOGO
Largest movements
- Tangible fixed assets +€399,009
up €399,009 (+45.2%), from €882,827 to €1.3m
- Cash -€69,359
down €69,359 (-52.5%), from €132,078 to €62,719
mainly Investment in fixed assets (net) (-€434,534) and Trade debts (-€29,062)
- Receivables within one year +€21,584
up €21,584 (+4.7%), from €461,687 to €483,271
of which Other amounts receivable: +€12,781
- Debts after one year +€255,419
up €255,419 (+54.2%), from €470,992 to €726,411
of which Financial debts: +€259,750
- Reserves +€76,180
up €76,180 (+27.0%), from €282,287 to €358,468
of which Distributable reserves: +€102,234
- Tax, wage and social debts +€36,032
new in 2025: €36,032
- Current portion of long-term debt +€31,280
up €31,280 (+74.2%), from €42,160 to €73,440
- Trade debts -€29,062
no longer reported in 2025 (was €29,062)
- Gross operating margin +€96,221
up €96,221 (+94.3%), from €102,075 to €198,296
- Taxes +€28,828
up €28,828 (+481.4%), from €5,988 to €34,817
- Depreciation +€16,712
up €16,712 (+54.2%), from €30,813 to €47,525
- Financial charges +€11,233
up €11,233 (+58.1%), from €19,349 to €30,582
- Other operating charges -€6,010
down €6,010 (-21.0%), from €28,617 to €22,607
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 | €1,575,821 | €1,914,965 | +€339,143 | +21.5% |
| Fixed assets | 21/28 | €975,671 | €1,362,679 | +€387,009 | +39.7% |
| Intangible fixed assets | 21 | €92,844 | €80,844 | -€12,000 | -12.9% |
| Tangible fixed assets | 22/27 | €882,827 | €1,281,836 | +€399,009 | +45.2% |
| Land and buildings | 22 | €882,827 | €1,281,836 | +€399,009 | +45.2% |
| Current assets | 29/58 | €600,151 | €552,285 | -€47,865 | -8.0% |
| Amounts receivable within one year | 40/41 | €461,687 | €483,271 | +€21,584 | +4.7% |
| Trade receivables | 40 | €3,025 | €11,828 | +€8,803 | +291.0% |
| Other amounts receivable | 41 | €458,662 | €471,442 | +€12,781 | +2.8% |
| Cash at bank and in hand | 54/58 | €132,078 | €62,719 | -€69,359 | -52.5% |
| Deferred charges and accrued income | 490/1 | €6,386 | €6,296 | -€90 | -1.4% |
| Total equity and liabilities | 10/49 | €1,575,821 | €1,914,965 | +€339,143 | +21.5% |
| Equity | 10/15 | €617,935 | €694,116 | +€76,180 | +12.3% |
| Contributions | 10/11 | €335,648 | €335,648 | = | 0.0% |
| Capital | 10 | €335,648 | €335,648 | = | 0.0% |
| Issued capital | 100 | €335,648 | €335,648 | = | 0.0% |
| Reserves | 13 | €282,287 | €358,468 | +€76,180 | +27.0% |
| Non-distributable reserves | 130/1 | €33,565 | €33,565 | = | 0.0% |
| Legal reserve | 130 | €33,565 | €33,565 | = | 0.0% |
| Tax-exempt reserves | 132 | €67,683 | €41,630 | -€26,053 | -38.5% |
| Distributable reserves | 133 | €181,040 | €283,273 | +€102,234 | +56.5% |
| Provisions and deferred taxes | 16 | €34,851 | €21,436 | -€13,415 | -38.5% |
| Deferred taxes | 168 | €34,851 | €21,436 | -€13,415 | -38.5% |
| Amounts payable | 17/49 | €923,035 | €1,199,413 | +€276,378 | +29.9% |
| Amounts payable after more than one year | 17 | €470,992 | €726,411 | +€255,419 | +54.2% |
| Financial debts | 170/4 | €466,661 | €726,411 | +€259,750 | +55.7% |
| Other amounts payable | 178/9 | €4,331 | - | -€4,331 | |
| Amounts payable within one year | 42/48 | €452,043 | €473,002 | +€20,960 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €42,160 | €73,440 | +€31,280 | +74.2% |
| Financial debts | 43 | €5,115 | €5,101 | -€14 | -0.3% |
| Credit institutions | 430/8 | €5,115 | €5,101 | -€14 | -0.3% |
| Trade debts | 44 | €29,062 | - | -€29,062 | |
| Suppliers | 440/4 | €29,062 | - | -€29,062 | |
| Taxes, remuneration and social security | 45 | - | €36,032 | +€36,032 | |
| Taxes | 450/3 | - | €36,032 | +€36,032 | |
| Other amounts payable | 47/48 | €375,705 | €358,429 | -€17,276 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,813 | €47,525 | +€16,712 | +54.2% |
| Other operating charges | 640/8 | €28,617 | €22,607 | -€6,010 | -21.0% |
| Gross operating margin | 9900 | €102,075 | €198,296 | +€96,221 | +94.3% |
| Operating profit (loss) | 9901 | €42,644 | €128,164 | +€85,519 | +200.5% |
| Financial income | 75/76B | €162 | - | -€162 | |
| Recurring financial income | 75 | €162 | - | -€162 | |
| Financial charges | 65/66B | €19,349 | €30,582 | +€11,233 | +58.1% |
| Recurring financial charges | 65 | €19,349 | €30,582 | +€11,233 | +58.1% |
| Profit (loss) for the period before taxes | 9903 | €23,457 | €97,582 | +€74,124 | +316.0% |
| Transfer from deferred taxes | 780 | - | €13,415 | +€13,415 | |
| Income taxes | 67/77 | €5,988 | €34,817 | +€28,828 | +481.4% |
| Profit (loss) for the period | 9904 | €17,469 | €76,180 | +€58,711 | +336.1% |
| Transfer from tax-exempt reserves | 789 | - | €26,053 | +€26,053 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,469 | €102,234 | +€84,765 | +485.2% |
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 12 October 2026 via checked.be.