Immokaro: what changed
Two financial 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
Immokaro
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€33,609
2024 · €58,937-€25,328
Equity
€1.5m
2024 · -+€1.5m
Cash
€185,739
2024 · €101,011+€84,728
Balance sheet total
€2.8m
2024 · €2.8m-€39,549
Largest movements
Assets
- Tangible fixed assets -€127,091
down €127,091 (-13.8%), from €919,734 to €792,643
of which Land and buildings: -€125,337
- Cash +€84,728
up €84,728 (+83.9%), from €101,011 to €185,739
mainly Depreciation (+€128,370) and Net result for the year (+€33,609)
Equity and liabilities
- Total equity and liabilities -€39,549
down €39,549 (-1.4%), from €2.8m to €2.8m
of which Debts: -€72,079
Income statement
- Turnover -€389,366
no longer reported in 2025 (was €389,366)
- Purchases and services -€51,302
no longer reported in 2025 (was €51,302)
- Gross operating margin -€34,330
down €34,330 (-10.2%), from €338,064 to €303,734
- Taxes -€10,051
down €10,051 (-39.7%), from €25,330 to €15,279
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
€58,937
Gross operating margin
-€34,330
Depreciation
+€33
Other operating charges
-€1,822
Financial income
-€854
Financial charges
+€1,595
Taxes
+€10,051
Result 2025
€33,609
raises the resultlowers the result
Derived cash bridge
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
+€119,615
Investment
-€1,279
Financing
-€33,609
Cash 2024
€101,011
From operations (derived)
+€119,615
Net result for the year
+€33,609
Depreciation
+€128,370
Receivables within one year
+€962
Deferred charges and accrued income
-€3,777
Total equity and liabilities
-€39,549
Investment (derived)
-€1,279
Investment in fixed assets (net)
-€1,279
Financing
-€33,609
Contributions, distributions and other
-€33,609
Not broken down
+€1
Cash 2025
€185,739
brings cash intakes cash outdifference the filed balance sheets leave
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,797,976 | €2,758,427 | -€39,549 | -1.4% |
| Fixed assets | 21/28 | €2,685,470 | €2,558,379 | -€127,091 | -4.7% |
| Tangible fixed assets | 22/27 | €919,734 | €792,643 | -€127,091 | -13.8% |
| Land and buildings | 22 | €910,233 | €784,896 | -€125,337 | -13.8% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €9,501 | €7,746 | -€1,755 | -18.5% |
| Financial fixed assets | 28 | €1,765,736 | €1,765,736 | +€0 | 0.0% |
| Current assets | 29/58 | €112,506 | €200,048 | +€87,542 | +77.8% |
| Amounts receivable within one year | 40/41 | €6,025 | €5,063 | -€962 | -16.0% |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | €6,025 | €5,063 | -€962 | -16.0% |
| Cash at bank and in hand | 54/58 | €101,011 | €185,739 | +€84,728 | +83.9% |
| Deferred charges and accrued income | 490/1 | €5,469 | €9,246 | +€3,777 | +69.1% |
| Total equity and liabilities | 10/49 | €2,797,976 | €2,758,427 | -€39,549 | -1.4% |
| Equity | 10/15 | - | €1,537,298 | +€1.5m | |
| Contributions | 10/11 | €964,874 | €964,874 | -€0 | 0.0% |
| Capital | 10 | €964,874 | €964,874 | -€0 | 0.0% |
| Issued capital | 100 | €964,874 | €964,874 | -€0 | 0.0% |
| Reserves | 13 | €81,095 | €80,741 | -€354 | -0.4% |
| Non-distributable reserves | 130/1 | €72,382 | €74,122 | +€1,740 | +2.4% |
| Legal reserve | 130 | €72,382 | €74,122 | +€1,740 | +2.4% |
| Tax-exempt reserves | 132 | €6,284 | €4,189 | -€2,095 | -33.3% |
| Distributable reserves | 133 | €2,429 | €2,429 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €457,720 | €491,684 | +€33,964 | +7.4% |
| Provisions and deferred taxes | 16 | - | €2,157 | +€2,157 | |
| Deferred taxes | 168 | €3,236 | €2,157 | -€1,079 | -33.3% |
| Amounts payable | 17/49 | €1,291,051 | €1,218,972 | -€72,079 | -5.6% |
| Amounts payable after more than one year | 17 | €1,200,000 | €1,200,000 | = | 0.0% |
| Financial debts | 170/4 | €1,200,000 | €1,200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €88,726 | €18,972 | -€69,754 | -78.6% |
| Current portion of amounts payable after more than one year | 42 | €70,000 | - | -€70,000 | |
| Trade debts | 44 | €4,045 | €13,506 | +€9,461 | +234% |
| Suppliers | 440/4 | €4,045 | €13,506 | +€9,461 | +234% |
| Taxes, remuneration and social security | 45 | €12,587 | - | -€12,587 | |
| Taxes | 450/3 | €12,587 | - | -€12,587 | |
| Other amounts payable | 47/48 | €2,095 | €5,467 | +€3,372 | +161% |
| Accrued charges and deferred income | 492/3 | €2,325 | - | -€2,325 | |
| Turnover | 70 | €389,366 | - | -€389,366 | |
| Goods, raw materials, services and sundry goods | 60/61 | €51,302 | - | -€51,302 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,403 | €128,370 | -€33 | 0.0% |
| Other operating charges | 640/8 | €55,541 | €57,363 | +€1,822 | +3.3% |
| Gross operating margin | 9900 | €338,064 | €303,734 | -€34,330 | -10.2% |
| Operating profit (loss) | 9901 | €154,120 | €118,001 | -€36,119 | -23.4% |
| Financial income | 75/76B | €6,879 | €6,025 | -€854 | -12.4% |
| Recurring financial income | 75 | €6,879 | €6,025 | -€854 | -12.4% |
| Financial charges | 65/66B | €77,811 | €76,216 | -€1,595 | -2.0% |
| Recurring financial charges | 65 | €77,811 | €76,216 | -€1,595 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €83,188 | €47,810 | -€35,378 | -42.5% |
| Transfer from deferred taxes | 780 | €1,079 | €1,079 | -€0 | 0.0% |
| Income taxes | 67/77 | €25,330 | €15,279 | -€10,051 | -39.7% |
| Profit (loss) for the period | 9904 | €58,937 | €33,609 | -€25,328 | -43.0% |
| Transfer from tax-exempt reserves | 789 | €2,095 | €2,095 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,032 | €35,704 | -€25,328 | -41.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.