IMMOHAN: 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
IMMOHAN
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€40,822
2024 · €29,167+€11,655
Equity
€512,747
2024 · €471,925+€40,822
Cash
€1,067
2024 · €2,206-€1,139
Balance sheet total
€1.6m
2024 · €1.3m+€287,318
Largest movements
Assets
- Stocks and contracts +€317,770
up €317,770 (+146.1%), from €217,500 to €535,270
- Tangible fixed assets -€36,773
down €36,773 (-3.3%), from €1.1m to €1.1m
Equity and liabilities
- Short-term financial debts +€167,500
up €167,500 (+78.8%), from €212,500 to €380,000
- Other debts +€125,000
new in 2025: €125,000
- Debts after one year -€52,923
down €52,923 (-9.5%), from €558,904 to €505,981
- Reserves +€40,822
up €40,822 (+34.8%), from €117,313 to €158,135
of which Distributable reserves: +€45,600
Income statement
- Depreciation -€11,071
down €11,071 (-34.6%), from €31,980 to €20,909
- Gross operating margin +€10,491
up €10,491 (+9.2%), from €114,267 to €124,758
- Financial charges +€5,642
up €5,642 (+16.2%), from €34,834 to €40,476
- Taxes +€3,930
up €3,930 (+34.7%), from €11,336 to €15,266
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.
Result 2024
€29,167
Gross operating margin
+€10,491
Depreciation
+€11,071
Other operating charges
-€351
Financial charges
-€5,642
Taxes
-€3,930
Deferred taxes and other
+€16
Result 2025
€40,822
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.
From operations
-€133,515
Investment
+€15,864
Financing
+€116,512
Cash 2024
€2,206
From operations (derived)
-€133,515
Net result for the year
+€40,822
Depreciation
+€20,909
Stocks and contracts
-€317,770
Receivables within one year
-€5,773
Deferred charges and accrued income
-€1,688
Provisions
-€1,593
Trade debts
-€4,304
Tax, wage and social debts
+€3,930
Advances received
-€2,468
Other debts
+€125,000
Accrued charges and deferred income
+€9,418
Investment (derived)
+€15,864
Investment in fixed assets (net)
+€15,864
Financing
+€116,512
Debts after one year
-€52,923
Current portion of long-term debt
+€1,935
Short-term financial debts
+€167,500
Cash 2025
€1,067
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,327,352 | €1,614,669 | +€287,318 | +21.6% |
| Fixed assets | 21/28 | €1,106,696 | €1,069,922 | -€36,773 | -3.3% |
| Tangible fixed assets | 22/27 | €1,106,696 | €1,069,922 | -€36,773 | -3.3% |
| Land and buildings | 22 | €1,106,696 | €1,069,922 | -€36,773 | -3.3% |
| Current assets | 29/58 | €220,656 | €544,747 | +€324,091 | +146.9% |
| Stocks and contracts in progress | 3 | €217,500 | €535,270 | +€317,770 | +146.1% |
| Stocks | 30/36 | €217,500 | €535,270 | +€317,770 | +146.1% |
| Amounts receivable within one year | 40/41 | €391 | €6,164 | +€5,773 | +1476.2% |
| Other amounts receivable | 41 | €391 | €6,164 | +€5,773 | +1476.2% |
| Cash at bank and in hand | 54/58 | €2,206 | €1,067 | -€1,139 | -51.6% |
| Deferred charges and accrued income | 490/1 | €559 | €2,247 | +€1,688 | +301.7% |
| Total equity and liabilities | 10/49 | €1,327,352 | €1,614,669 | +€287,318 | +21.6% |
| Equity | 10/15 | €471,925 | €512,747 | +€40,822 | +8.7% |
| Contributions | 10/11 | €204,612 | €204,612 | = | 0.0% |
| Capital | 10 | €83,000 | €83,000 | = | 0.0% |
| Issued capital | 100 | €83,000 | €83,000 | = | 0.0% |
| Outside capital | 11 | €121,612 | €121,612 | = | 0.0% |
| Share premium | 1100/10 | €121,612 | €121,612 | = | 0.0% |
| Revaluation surpluses | 12 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €117,313 | €158,135 | +€40,822 | +34.8% |
| Non-distributable reserves | 130/1 | €8,300 | €8,300 | = | 0.0% |
| Legal reserve | 130 | €8,300 | €8,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €70,858 | €66,080 | -€4,778 | -6.7% |
| Distributable reserves | 133 | €38,154 | €83,754 | +€45,600 | +119.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €23,619 | €22,027 | -€1,593 | -6.7% |
| Deferred taxes | 168 | €23,619 | €22,027 | -€1,593 | -6.7% |
| Amounts payable | 17/49 | €831,808 | €1,079,896 | +€248,088 | +29.8% |
| Amounts payable after more than one year | 17 | €558,904 | €505,981 | -€52,923 | -9.5% |
| Financial debts | 170/4 | €558,904 | €505,981 | -€52,923 | -9.5% |
| Amounts payable within one year | 42/48 | €272,903 | €564,496 | +€291,593 | +106.8% |
| Current portion of amounts payable after more than one year | 42 | €50,988 | €52,923 | +€1,935 | +3.8% |
| Financial debts | 43 | €212,500 | €380,000 | +€167,500 | +78.8% |
| Credit institutions | 430/8 | €212,500 | €380,000 | +€167,500 | +78.8% |
| Trade debts | 44 | €5,611 | €1,307 | -€4,304 | -76.7% |
| Suppliers | 440/4 | €5,611 | €1,307 | -€4,304 | -76.7% |
| Advances received on contracts in progress | 46 | €2,468 | €0 | -€2,468 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,336 | €5,266 | +€3,930 | +294.1% |
| Taxes | 450/3 | €1,336 | €5,266 | +€3,930 | +294.1% |
| Other amounts payable | 47/48 | - | €125,000 | +€125,000 | |
| Accrued charges and deferred income | 492/3 | - | €9,418 | +€9,418 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,980 | €20,909 | -€11,071 | -34.6% |
| Other operating charges | 640/8 | €8,526 | €8,877 | +€351 | +4.1% |
| Gross operating margin | 9900 | €114,267 | €124,758 | +€10,491 | +9.2% |
| Operating profit (loss) | 9901 | €73,761 | €94,972 | +€21,211 | +28.8% |
| Financial charges | 65/66B | €34,834 | €40,476 | +€5,642 | +16.2% |
| Recurring financial charges | 65 | €34,834 | €40,476 | +€5,642 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €38,927 | €54,496 | +€15,569 | +40.0% |
| Transfer from deferred taxes | 780 | €1,577 | €1,593 | +€16 | +1.0% |
| Income taxes | 67/77 | €11,336 | €15,266 | +€3,930 | +34.7% |
| Profit (loss) for the period | 9904 | €29,167 | €40,822 | +€11,655 | +40.0% |
| Transfer from tax-exempt reserves | 789 | €4,730 | €4,778 | +€48 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,897 | €45,600 | +€11,703 | +34.5% |
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 8 October 2026 via checked.be.