Immohel: 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.
Immohel
Largest movements
- Tangible fixed assets -€1.2m
down €1.2m (-29.5%), from €4.2m to €3.0m
of which Land and buildings: -€1.2m
- Cash +€384,663
up €384,663 (+846.3%), from €45,451 to €430,114
mainly Investment in fixed assets (net) (+€1.1m) and Net result for the year (+€396,651)
- Receivables within one year +€290,015
up €290,015 (+29001.5%), from €1,000 to €291,015
of which Trade receivables: +€291,015
- Other debts -€1.3m
down €1.3m (-72.9%), from €1.7m to €470,858
- Reserves +€379,924
up €379,924 (+132.8%), from €286,012 to €665,936
of which Tax-exempt reserves: +€358,924
- Provisions +€118,847
up €118,847 (+111.6%), from €106,488 to €225,335
- Accrued charges and deferred income +€56,705
up €56,705 (+609.4%), from €9,305 to €66,010
- Tax, wage and social debts +€51,437
up €51,437 (+5513.1%), from €933 to €52,370
- Gross operating margin +€578,399
up €578,399 (+316.5%), from €182,765 to €761,164
- Other operating charges +€48,035
up €48,035 (+229.6%), from €20,921 to €68,956
- Depreciation -€11,200
down €11,200 (-7.0%), from €159,100 to €147,900
- Staff costs +€9,000
up €9,000 (+300.0%), from €3,000 to €12,000
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 | €4,314,943 | €3,721,651 | -€593,292 | -13.7% |
| Fixed assets | 21/28 | €4,244,692 | €3,000,487 | -€1.2m | -29.3% |
| Tangible fixed assets | 22/27 | €4,217,677 | €2,973,472 | -€1.2m | -29.5% |
| Land and buildings | 22 | €4,147,371 | €2,901,892 | -€1.2m | -30.0% |
| Plant, machinery and equipment | 23 | €55,094 | €62,814 | +€7,720 | +14.0% |
| Furniture and vehicles | 24 | €15,212 | €8,766 | -€6,446 | -42.4% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €27,015 | €27,015 | = | 0.0% |
| Current assets | 29/58 | €70,251 | €721,164 | +€650,913 | +926.6% |
| Amounts receivable within one year | 40/41 | €1,000 | €291,015 | +€290,015 | +29001.5% |
| Trade receivables | 40 | - | €291,015 | +€291,015 | |
| Other amounts receivable | 41 | €1,000 | - | -€1,000 | |
| Cash at bank and in hand | 54/58 | €45,451 | €430,114 | +€384,663 | +846.3% |
| Deferred charges and accrued income | 490/1 | €23,800 | €35 | -€23,765 | -99.9% |
| Total equity and liabilities | 10/49 | €4,314,943 | €3,721,651 | -€593,292 | -13.7% |
| Equity | 10/15 | €647,367 | €1,034,017 | +€386,650 | +59.7% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €286,012 | €665,936 | +€379,924 | +132.8% |
| Non-distributable reserves | 130/1 | €7,500 | €8,500 | +€1,000 | +13.3% |
| Legal reserve | 130 | €7,500 | €8,500 | +€1,000 | +13.3% |
| Tax-exempt reserves | 132 | €253,512 | €612,436 | +€358,924 | +141.6% |
| Distributable reserves | 133 | €25,000 | €45,000 | +€20,000 | +80.0% |
| Profit (loss) carried forward | 14 | €111,355 | €118,081 | +€6,726 | +6.0% |
| Provisions and deferred taxes | 16 | €106,488 | €225,335 | +€118,847 | +111.6% |
| Deferred taxes | 168 | €106,488 | €225,335 | +€118,847 | +111.6% |
| Amounts payable | 17/49 | €3,561,088 | €2,462,299 | -€1.1m | -30.9% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Other amounts payable | 178/9 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,301,783 | €2,146,289 | -€1.2m | -35.0% |
| Trade debts | 44 | €11,209 | €33,061 | +€21,852 | +195.0% |
| Suppliers | 440/4 | €11,209 | €33,061 | +€21,852 | +195.0% |
| Advances received on contracts in progress | 46 | €1,550,000 | €1,590,000 | +€40,000 | +2.6% |
| Taxes, remuneration and social security | 45 | €933 | €52,370 | +€51,437 | +5513.1% |
| Taxes | 450/3 | €933 | €52,370 | +€51,437 | +5513.1% |
| Other amounts payable | 47/48 | €1,739,641 | €470,858 | -€1.3m | -72.9% |
| Accrued charges and deferred income | 492/3 | €9,305 | €66,010 | +€56,705 | +609.4% |
| Remuneration, social security and pensions | 62 | €3,000 | €12,000 | +€9,000 | +300.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €159,100 | €147,900 | -€11,200 | -7.0% |
| Other operating charges | 640/8 | €20,921 | €68,956 | +€48,035 | +229.6% |
| Gross operating margin | 9900 | €182,765 | €761,164 | +€578,399 | +316.5% |
| Operating profit (loss) | 9901 | -€256 | €532,308 | +€532,564 | |
| Financial income | 75/76B | €19 | €151 | +€132 | +694.7% |
| Recurring financial income | 75 | €19 | €151 | +€132 | +694.7% |
| Financial charges | 65/66B | €3,956 | €4,462 | +€506 | +12.8% |
| Recurring financial charges | 65 | €3,956 | €4,462 | +€506 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,193 | €527,997 | +€532,190 | |
| Transfer from deferred taxes | 780 | €15,000 | €4,256 | -€10,744 | -71.6% |
| Transfer to deferred taxes | 680 | - | €123,103 | +€123,103 | |
| Income taxes | 67/77 | €5,724 | €12,499 | +€6,775 | +118.4% |
| Profit (loss) for the period | 9904 | €5,083 | €396,651 | +€391,568 | +7703.5% |
| Transfer from tax-exempt reserves | 789 | - | €10,385 | +€10,385 | |
| Transfer to tax-exempt reserves | 689 | - | €369,309 | +€369,309 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,083 | €37,727 | +€32,644 | +642.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.