IMMOGRO: 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.
What changed
IMMOGRO
NACE 68.204, Real estate activities
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
-€4,907
2025 · €4.1m-€4.1m
Equity
€1.4m
2025 · €1.4m-€4,907
Cash
€24,277
2025 · €7,309+€16,968
Balance sheet total
€1.7m
2025 · €2.1m-€328,497
Largest movements
Assets
- Receivables within one year -€334,727
down €334,727 (-45.4%), from €737,301 to €402,573
of which Other amounts receivable: -€330,664
Equity and liabilities
- Current portion of long-term debt -€298,773
down €298,773 (-48.3%), from €618,289 to €319,516
Income statement
- Gross operating margin -€5.4m
down €5.4m (-99.5%), from €5.4m to €26,447
- Taxes -€1.3m
down €1.3m (-100.0%), from €1.3m to €0
From the 2025 result to the 2026 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.
Result 2025
€4.1m
Gross operating margin
-€5.4m
Depreciation
-€334
Other operating charges
+€22,190
Financial income
-€6,582
Financial charges
-€2,006
Taxes
+€1.3m
Result 2026
-€4,907
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€320,011
Investment
-€4,269
Financing
-€298,773
Cash 2025
€7,309
From operations (derived)
+€320,011
Net result for the year
-€4,907
Depreciation
+€15,074
Receivables within one year
+€334,727
Deferred charges and accrued income
-€67
Trade debts
-€7,698
Tax, wage and social debts
-€968
Accrued charges and deferred income
-€16,150
Investment (derived)
-€4,269
Investment in fixed assets (net)
-€4,269
Financing
-€298,773
Current portion of long-term debt
-€298,773
Cash 2026
€24,277
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,066,405 | €1,737,908 | -€328,497 | -15.9% |
| Fixed assets | 21/28 | €1,320,457 | €1,309,652 | -€10,805 | -0.8% |
| Tangible fixed assets | 22/27 | €1,320,457 | €1,309,652 | -€10,805 | -0.8% |
| Land and buildings | 22 | €1,316,455 | €1,309,652 | -€6,803 | -0.5% |
| Plant, machinery and equipment | 23 | €4,002 | €0 | -€4,002 | -100.0% |
| Current assets | 29/58 | €745,947 | €428,256 | -€317,692 | -42.6% |
| Amounts receivable within one year | 40/41 | €737,301 | €402,573 | -€334,727 | -45.4% |
| Trade receivables | 40 | €4,903 | €839 | -€4,064 | -82.9% |
| Other amounts receivable | 41 | €732,397 | €401,734 | -€330,664 | -45.1% |
| Cash at bank and in hand | 54/58 | €7,309 | €24,277 | +€16,968 | +232.2% |
| Deferred charges and accrued income | 490/1 | €1,338 | €1,406 | +€67 | +5.0% |
| Total equity and liabilities | 10/49 | €2,066,405 | €1,737,908 | -€328,497 | -15.9% |
| Equity | 10/15 | €1,422,506 | €1,417,598 | -€4,907 | -0.3% |
| Contributions | 10/11 | €1,200,000 | €1,200,000 | = | 0.0% |
| Capital | 10 | €1,200,000 | €1,200,000 | = | 0.0% |
| Issued capital | 100 | €1,200,000 | €1,200,000 | = | 0.0% |
| Reserves | 13 | €153,200 | €153,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,000 | €37,000 | = | 0.0% |
| Distributable reserves | 133 | €110,000 | €110,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,306 | €64,398 | -€4,907 | -7.1% |
| Amounts payable | 17/49 | €643,899 | €320,310 | -€323,589 | -50.3% |
| Amounts payable within one year | 42/48 | €627,749 | €320,310 | -€307,439 | -49.0% |
| Current portion of amounts payable after more than one year | 42 | €618,289 | €319,516 | -€298,773 | -48.3% |
| Trade debts | 44 | €8,492 | €794 | -€7,698 | -90.7% |
| Suppliers | 440/4 | €8,492 | €794 | -€7,698 | -90.7% |
| Taxes, remuneration and social security | 45 | €968 | €0 | -€968 | -100.0% |
| Taxes | 450/3 | €968 | €0 | -€968 | -100.0% |
| Accrued charges and deferred income | 492/3 | €16,150 | €0 | -€16,150 | -100.0% |
| Non-recurring operating income | 76A | €5,388,146 | €0 | -€5.4m | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,740 | €15,074 | +€334 | +2.3% |
| Other operating charges | 640/8 | €24,819 | €2,628 | -€22,190 | -89.4% |
| Gross operating margin | 9900 | €5,420,850 | €26,447 | -€5.4m | -99.5% |
| Operating profit (loss) | 9901 | €5,381,291 | €8,744 | -€5.4m | -99.8% |
| Financial income | 75/76B | €6,582 | €0 | -€6,582 | -100.0% |
| Recurring financial income | 75 | €6,582 | €0 | -€6,582 | -100.0% |
| Financial charges | 65/66B | €11,646 | €13,652 | +€2,006 | +17.2% |
| Recurring financial charges | 65 | €11,646 | €13,652 | +€2,006 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €5,376,227 | -€4,907 | -€5.4m | |
| Income taxes | 67/77 | €1,309,066 | €0 | -€1.3m | -100.0% |
| Profit (loss) for the period | 9904 | €4,067,161 | -€4,907 | -€4.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €4,067,161 | -€4,907 | -€4.1m |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.