IMMOGRAN: 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.
IMMOGRAN
Largest movements
- Receivables within one year -€87,406
down €87,406 (-53.8%), from €162,525 to €75,119
of which Trade receivables: -€93,070
- Cash +€15,475
up €15,475 (+760.6%), from €2,035 to €17,510
mainly Receivables within one year (+€87,406) and Net result for the year (+€36,558)
- Tangible fixed assets -€11,931
down €11,931 (-11.9%), from €100,562 to €88,631
of which Land and buildings: -€11,034
- Stocks and contracts -€3,231
down €3,231 (-37.4%), from €8,631 to €5,401
- Trade debts -€64,843
down €64,843 (-72.0%), from €90,095 to €25,253
- Reserves +€36,000
up €36,000 (+56.5%), from €63,722 to €99,722
of which Distributable reserves: +€36,000
- Debts after one year -€25,000
down €25,000 (-99.0%), from €25,245 to €245
of which Financial debts: -€25,000
- Tax, wage and social debts -€24,645
down €24,645 (-87.4%), from €28,187 to €3,542
- Accrued charges and deferred income -€11,826
down €11,826 (-38.6%), from €30,612 to €18,786
- Gross operating margin -€55,442
down €55,442 (-43.0%), from €128,811 to €73,369
- Staff costs -€26,737
down €26,737 (-98.1%), from €27,249 to €512
- Taxes -€8,433
down €8,433 (-32.7%), from €25,769 to €17,336
- Financial charges -€5,595
down €5,595 (-72.6%), from €7,703 to €2,109
- Depreciation -€2,282
down €2,282 (-16.1%), from €14,213 to €11,931
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 | €274,796 | €187,635 | -€87,161 | -31.7% |
| Fixed assets | 21/28 | €100,686 | €88,631 | -€12,055 | -12.0% |
| Tangible fixed assets | 22/27 | €100,562 | €88,631 | -€11,931 | -11.9% |
| Land and buildings | 22 | €98,851 | €87,816 | -€11,034 | -11.2% |
| Furniture and vehicles | 24 | €1,712 | €815 | -€896 | -52.4% |
| Financial fixed assets | 28 | €124 | - | -€124 | |
| Current assets | 29/58 | €174,110 | €99,004 | -€75,106 | -43.1% |
| Stocks and contracts in progress | 3 | €8,631 | €5,401 | -€3,231 | -37.4% |
| Stocks | 30/36 | €8,631 | €5,401 | -€3,231 | -37.4% |
| Amounts receivable within one year | 40/41 | €162,525 | €75,119 | -€87,406 | -53.8% |
| Trade receivables | 40 | €160,576 | €67,506 | -€93,070 | -58.0% |
| Other amounts receivable | 41 | €1,949 | €7,613 | +€5,664 | +290.6% |
| Cash at bank and in hand | 54/58 | €2,035 | €17,510 | +€15,475 | +760.6% |
| Deferred charges and accrued income | 490/1 | €920 | €975 | +€55 | +6.0% |
| Total equity and liabilities | 10/49 | €274,796 | €187,635 | -€87,161 | -31.7% |
| Equity | 10/15 | €95,189 | €131,747 | +€36,558 | +38.4% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Capital | 10 | €31,000 | €31,000 | = | 0.0% |
| Issued capital | 100 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €63,722 | €99,722 | +€36,000 | +56.5% |
| Non-distributable reserves | 130/1 | €2,722 | €2,722 | = | 0.0% |
| Legal reserve | 130 | €2,722 | €2,722 | = | 0.0% |
| Distributable reserves | 133 | €61,000 | €97,000 | +€36,000 | +59.0% |
| Profit (loss) carried forward | 14 | €467 | €1,025 | +€558 | +119.6% |
| Amounts payable | 17/49 | €179,608 | €55,888 | -€123,719 | -68.9% |
| Amounts payable after more than one year | 17 | €25,245 | €245 | -€25,000 | -99.0% |
| Financial debts | 170/4 | €25,000 | - | -€25,000 | |
| Other amounts payable | 178/9 | €245 | €245 | = | 0.0% |
| Amounts payable within one year | 42/48 | €123,750 | €36,857 | -€86,893 | -70.2% |
| Current portion of amounts payable after more than one year | 42 | €3,347 | - | -€3,347 | |
| Financial debts | 43 | €100 | €84 | -€16 | -16.3% |
| Credit institutions | 430/8 | €100 | €84 | -€16 | -16.3% |
| Trade debts | 44 | €90,095 | €25,253 | -€64,843 | -72.0% |
| Suppliers | 440/4 | €90,095 | €25,253 | -€64,843 | -72.0% |
| Taxes, remuneration and social security | 45 | €28,187 | €3,542 | -€24,645 | -87.4% |
| Taxes | 450/3 | €28,187 | €3,542 | -€24,645 | -87.4% |
| Other amounts payable | 47/48 | €2,021 | €7,979 | +€5,958 | +294.8% |
| Accrued charges and deferred income | 492/3 | €30,612 | €18,786 | -€11,826 | -38.6% |
| Remuneration, social security and pensions | 62 | €27,249 | €512 | -€26,737 | -98.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,213 | €11,931 | -€2,282 | -16.1% |
| Other operating charges | 640/8 | €6,308 | €6,413 | +€104 | +1.7% |
| Non-recurring operating charges | 66A | €888 | - | -€888 | |
| Gross operating margin | 9900 | €128,811 | €73,369 | -€55,442 | -43.0% |
| Operating profit (loss) | 9901 | €80,152 | €54,513 | -€25,639 | -32.0% |
| Financial income | 75/76B | €547 | €1,489 | +€943 | +172.4% |
| Recurring financial income | 75 | €547 | €1,489 | +€943 | +172.4% |
| Financial charges | 65/66B | €7,703 | €2,109 | -€5,595 | -72.6% |
| Recurring financial charges | 65 | €7,703 | €2,109 | -€5,595 | -72.6% |
| Profit (loss) for the period before taxes | 9903 | €72,996 | €53,894 | -€19,102 | -26.2% |
| Income taxes | 67/77 | €25,769 | €17,336 | -€8,433 | -32.7% |
| Profit (loss) for the period | 9904 | €47,227 | €36,558 | -€10,669 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €47,227 | €36,558 | -€10,669 | -22.6% |
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 3 October 2026 via checked.be.