IMMOLOEUF: 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.
IMMOLOEUF
Largest movements
- Tangible fixed assets +€425,224
up €425,224 (+13.4%), from €3.2m to €3.6m
of which Land and buildings: +€438,709
- Cash -€228,790
down €228,790 (-70.4%), from €324,781 to €95,991
mainly Investment in fixed assets (net) (-€573,749) and Short-term financial debts (-€50,000)
- Other debts +€128,925
up €128,925 (+15.1%), from €852,324 to €981,250
- Reserves +€121,356
up €121,356 (+11.7%), from €1.0m to €1.2m
of which Distributable reserves: +€124,671
- Debts after one year +€50,204
up €50,204 (+4.3%), from €1.2m to €1.2m
- Short-term financial debts -€50,000
down €50,000 (-46.5%), from €107,500 to €57,500
- Trade debts -€41,154
down €41,154 (-79.0%), from €52,079 to €10,925
- Gross operating margin -€268,678
down €268,678 (-35.4%), from €759,105 to €490,427
- Financial charges -€26,512
down €26,512 (-28.6%), from €92,574 to €66,062
- Write-downs -€15,183
down €15,183, from €0 to -€15,183
- Taxes +€11,963
up €11,963 (+29.2%), from €41,036 to €52,999
- Other operating charges -€9,073
down €9,073 (-15.0%), from €60,614 to €51,541
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,546,103 | €3,722,781 | +€176,678 | +5.0% |
| Fixed assets | 21/28 | €3,183,541 | €3,608,765 | +€425,224 | +13.4% |
| Tangible fixed assets | 22/27 | €3,183,516 | €3,608,740 | +€425,224 | +13.4% |
| Land and buildings | 22 | €3,161,286 | €3,599,995 | +€438,709 | +13.9% |
| Plant, machinery and equipment | 23 | €4,138 | €3,908 | -€230 | -5.6% |
| Furniture and vehicles | 24 | €18,091 | €4,836 | -€13,255 | -73.3% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €362,562 | €114,016 | -€248,546 | -68.6% |
| Amounts receivable within one year | 40/41 | €26,363 | €3,685 | -€22,678 | -86.0% |
| Trade receivables | 40 | €18,273 | €3,473 | -€14,801 | -81.0% |
| Other amounts receivable | 41 | €8,090 | €213 | -€7,877 | -97.4% |
| Cash at bank and in hand | 54/58 | €324,781 | €95,991 | -€228,790 | -70.4% |
| Deferred charges and accrued income | 490/1 | €11,418 | €14,339 | +€2,921 | +25.6% |
| Total equity and liabilities | 10/49 | €3,546,103 | €3,722,781 | +€176,678 | +5.0% |
| Equity | 10/15 | €1,067,944 | €1,189,300 | +€121,356 | +11.4% |
| Contributions | 10/11 | €26,800 | €26,800 | = | 0.0% |
| Reserves | 13 | €1,041,144 | €1,162,500 | +€121,356 | +11.7% |
| Non-distributable reserves | 130/1 | €3,610 | €3,610 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,610 | €3,610 | = | 0.0% |
| Tax-exempt reserves | 132 | €191,994 | €188,679 | -€3,315 | -1.7% |
| Distributable reserves | 133 | €845,540 | €970,211 | +€124,671 | +14.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €63,998 | €62,893 | -€1,105 | -1.7% |
| Deferred taxes | 168 | €63,998 | €62,893 | -€1,105 | -1.7% |
| Amounts payable | 17/49 | €2,414,161 | €2,470,588 | +€56,427 | +2.3% |
| Amounts payable after more than one year | 17 | €1,180,933 | €1,231,137 | +€50,204 | +4.3% |
| Financial debts | 170/4 | €1,180,933 | €1,231,137 | +€50,204 | +4.3% |
| Amounts payable within one year | 42/48 | €1,227,668 | €1,232,051 | +€4,383 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €168,339 | €134,761 | -€33,578 | -19.9% |
| Financial debts | 43 | €107,500 | €57,500 | -€50,000 | -46.5% |
| Credit institutions | 430/8 | €107,500 | €57,500 | -€50,000 | -46.5% |
| Trade debts | 44 | €52,079 | €10,925 | -€41,154 | -79.0% |
| Suppliers | 440/4 | €52,079 | €10,925 | -€41,154 | -79.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €47,426 | €47,615 | +€189 | +0.4% |
| Taxes | 450/3 | €35,070 | €36,517 | +€1,446 | +4.1% |
| Remuneration and social security | 454/9 | €12,356 | €11,098 | -€1,257 | -10.2% |
| Other amounts payable | 47/48 | €852,324 | €981,250 | +€128,925 | +15.1% |
| Accrued charges and deferred income | 492/3 | €5,560 | €7,400 | +€1,840 | +33.1% |
| Remuneration, social security and pensions | 62 | €57,381 | €61,536 | +€4,155 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,157 | €148,526 | -€5,631 | -3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€15,183 | -€15,183 | |
| Other operating charges | 640/8 | €60,614 | €51,541 | -€9,073 | -15.0% |
| Gross operating margin | 9900 | €759,105 | €490,427 | -€268,678 | -35.4% |
| Operating profit (loss) | 9901 | €486,954 | €244,007 | -€242,947 | -49.9% |
| Financial income | 75/76B | €2 | €4 | +€3 | +182% |
| Recurring financial income | 75 | €2 | €4 | +€3 | +182% |
| Financial charges | 65/66B | €92,574 | €66,062 | -€26,512 | -28.6% |
| Recurring financial charges | 65 | €92,574 | €66,062 | -€26,512 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €394,382 | €177,950 | -€216,432 | -54.9% |
| Transfer from deferred taxes | 780 | €596 | €1,105 | +€509 | +85.4% |
| Transfer to deferred taxes | 680 | €64,594 | €0 | -€64,594 | -100% |
| Income taxes | 67/77 | €41,036 | €52,999 | +€11,963 | +29.2% |
| Profit (loss) for the period | 9904 | €289,347 | €126,056 | -€163,292 | -56.4% |
| Transfer from tax-exempt reserves | 789 | €1,788 | €3,315 | +€1,527 | +85.4% |
| Transfer to tax-exempt reserves | 689 | €193,782 | €0 | -€193,782 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €97,353 | €129,371 | +€32,018 | +32.9% |
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 1 November 2026 via checked.be.