ImmoH: 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.
ImmoH
Largest movements
- Tangible fixed assets -€18,994
down €18,994 (-17.3%), from €109,737 to €90,743
of which Land and buildings: -€15,549
- Deferred charges and accrued income -€3,742
down €3,742 (-24.5%), from €15,290 to €11,547
- Other debts -€24,374
down €24,374 (-13.5%), from €180,381 to €156,006
- Trade debts -€7,280
down €7,280 (-85.7%), from €8,498 to €1,218
- Tax, wage and social debts +€7,125
up €7,125 (+80.4%), from €8,866 to €15,991
- Profit (loss) carried forward +€4,616
up €4,616 (+4.1%), from -€113,147 to -€108,531
- Reserves -€2,671
down €2,671 (-24.0%), from €11,129 to €8,457
of which Tax-exempt reserves: -€2,671
- Gross operating margin +€24,762
up €24,762 (+81.8%), from €30,262 to €55,024
- Write-downs +€9,613
no longer reported in 2025 (was -€9,613)
- Other operating charges -€4,743
down €4,743 (-33.4%), from €14,190 to €9,447
- Taxes +€3,828
up €3,828 (+62.9%), from €6,081 to €9,909
- Depreciation +€1,064
up €1,064 (+3.4%), from €31,041 to €32,105
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €125,287 | €102,550 | -€22,736 | -18.1% |
| Fixed assets | 21/28 | €109,997 | €91,003 | -€18,994 | -17.3% |
| Tangible fixed assets | 22/27 | €109,737 | €90,743 | -€18,994 | -17.3% |
| Land and buildings | 22 | €101,269 | €85,720 | -€15,549 | -15.4% |
| Plant, machinery and equipment | 23 | €6,263 | €4,049 | -€2,214 | -35.3% |
| Furniture and vehicles | 24 | €2,205 | €974 | -€1,231 | -55.8% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €15,290 | €11,547 | -€3,742 | -24.5% |
| Deferred charges and accrued income | 490/1 | €15,290 | €11,547 | -€3,742 | -24.5% |
| Total equity and liabilities | 10/49 | €125,287 | €102,550 | -€22,736 | -18.1% |
| Equity | 10/15 | -€80,104 | -€78,160 | +€1,944 | +2.4% |
| Contributions | 10/11 | €21,914 | €21,914 | = | 0.0% |
| Reserves | 13 | €11,129 | €8,457 | -€2,671 | -24.0% |
| Tax-exempt reserves | 132 | €2,884 | €213 | -€2,671 | -92.6% |
| Distributable reserves | 133 | €8,244 | €8,244 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€113,147 | -€108,531 | +€4,616 | +4.1% |
| Provisions and deferred taxes | 16 | €1,485 | €110 | -€1,375 | -92.6% |
| Deferred taxes | 168 | €1,485 | €110 | -€1,375 | -92.6% |
| Amounts payable | 17/49 | €203,905 | €180,600 | -€23,305 | -11.4% |
| Amounts payable within one year | 42/48 | €203,905 | €180,600 | -€23,305 | -11.4% |
| Financial debts | 43 | €6,161 | €7,386 | +€1,225 | +19.9% |
| Credit institutions | 430/8 | €6,161 | €7,386 | +€1,225 | +19.9% |
| Trade debts | 44 | €8,498 | €1,218 | -€7,280 | -85.7% |
| Suppliers | 440/4 | €8,498 | €1,218 | -€7,280 | -85.7% |
| Taxes, remuneration and social security | 45 | €8,866 | €15,991 | +€7,125 | +80.4% |
| Taxes | 450/3 | €8,866 | €15,991 | +€7,125 | +80.4% |
| Other amounts payable | 47/48 | €180,381 | €156,006 | -€24,374 | -13.5% |
| Non-recurring operating income | 76A | - | €2,328 | +€2,328 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,041 | €32,105 | +€1,064 | +3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,613 | - | +€9,613 | |
| Other operating charges | 640/8 | €14,190 | €9,447 | -€4,743 | -33.4% |
| Gross operating margin | 9900 | €30,262 | €55,024 | +€24,762 | +81.8% |
| Operating profit (loss) | 9901 | -€5,357 | €13,472 | +€18,829 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +5900.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +5900.0% |
| Financial charges | 65/66B | €3,708 | €2,995 | -€713 | -19.2% |
| Recurring financial charges | 65 | €3,708 | €2,995 | -€713 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | -€9,064 | €10,478 | +€19,543 | |
| Transfer from deferred taxes | 780 | €1,375 | €1,375 | = | 0.0% |
| Income taxes | 67/77 | €6,081 | €9,909 | +€3,828 | +62.9% |
| Profit (loss) for the period | 9904 | -€13,770 | €1,944 | +€15,715 | |
| Transfer from tax-exempt reserves | 789 | €2,671 | €2,671 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,099 | €4,616 | +€15,715 |
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 4 October 2026 via checked.be.