Immolouvan: 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.
Immolouvan
Largest movements
- Receivables within one year +€56,299
up €56,299 (+22.4%), from €251,347 to €307,645
of which Other amounts receivable: +€88,127
- Cash -€37,712
down €37,712 (-14.2%), from €265,967 to €228,255
mainly Receivables within one year (-€56,299) and Current portion of long-term debt (-€47,553)
- Tangible fixed assets -€37,158
down €37,158 (-10.2%), from €365,142 to €327,983
of which Plant, machinery and equipment: -€37,158
- Deferred charges and accrued income -€13,092
no longer reported in 2025 (was €13,092)
- Profit (loss) carried forward +€76,473
up €76,473 (+17.3%), from €441,706 to €518,179
- Current portion of long-term debt -€47,553
down €47,553 (-50.8%), from €93,553 to €46,000
- Debts after one year -€46,000
down €46,000 (-46.9%), from €98,000 to €52,000
- Other debts -€37,009
down €37,009 (-19.9%), from €185,987 to €148,978
- Tax, wage and social debts +€15,048
up €15,048 (+281%), from €5,351 to €20,400
of which Taxes: +€14,050
- Depreciation -€18,968
down €18,968 (-33.8%), from €56,126 to €37,158
- Staff costs +€8,348
new in 2025: €8,348
- Taxes +€3,691
up €3,691 (+15.5%), from €23,817 to €27,508
- Gross operating margin -€1,895
down €1,895 (-1.0%), from €183,836 to €181,941
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 | €895,547 | €863,884 | -€31,663 | -3.5% |
| Fixed assets | 21/28 | €365,142 | €327,983 | -€37,158 | -10.2% |
| Tangible fixed assets | 22/27 | €365,142 | €327,983 | -€37,158 | -10.2% |
| Land and buildings | 22 | €211,465 | €211,465 | = | 0.0% |
| Plant, machinery and equipment | 23 | €153,677 | €116,519 | -€37,158 | -24.2% |
| Current assets | 29/58 | €530,406 | €535,901 | +€5,495 | +1.0% |
| Amounts receivable within one year | 40/41 | €251,347 | €307,645 | +€56,299 | +22.4% |
| Trade receivables | 40 | €129,473 | €97,645 | -€31,828 | -24.6% |
| Other amounts receivable | 41 | €121,873 | €210,000 | +€88,127 | +72.3% |
| Cash at bank and in hand | 54/58 | €265,967 | €228,255 | -€37,712 | -14.2% |
| Deferred charges and accrued income | 490/1 | €13,092 | - | -€13,092 | |
| Total equity and liabilities | 10/49 | €895,547 | €863,884 | -€31,663 | -3.5% |
| Equity | 10/15 | €509,356 | €585,829 | +€76,473 | +15.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €441,706 | €518,179 | +€76,473 | +17.3% |
| Amounts payable | 17/49 | €386,191 | €278,055 | -€108,136 | -28.0% |
| Amounts payable after more than one year | 17 | €98,000 | €52,000 | -€46,000 | -46.9% |
| Financial debts | 170/4 | €98,000 | €52,000 | -€46,000 | -46.9% |
| Amounts payable within one year | 42/48 | €284,892 | €217,903 | -€66,989 | -23.5% |
| Current portion of amounts payable after more than one year | 42 | €93,553 | €46,000 | -€47,553 | -50.8% |
| Trade debts | 44 | - | €2,526 | +€2,526 | |
| Suppliers | 440/4 | - | €2,526 | +€2,526 | |
| Taxes, remuneration and social security | 45 | €5,351 | €20,400 | +€15,048 | +281% |
| Taxes | 450/3 | €5,351 | €19,401 | +€14,050 | +263% |
| Remuneration and social security | 454/9 | - | €998 | +€998 | |
| Other amounts payable | 47/48 | €185,987 | €148,978 | -€37,009 | -19.9% |
| Accrued charges and deferred income | 492/3 | €3,299 | €8,152 | +€4,853 | +147% |
| Remuneration, social security and pensions | 62 | - | €8,348 | +€8,348 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,126 | €37,158 | -€18,968 | -33.8% |
| Other operating charges | 640/8 | €21,710 | €21,226 | -€485 | -2.2% |
| Gross operating margin | 9900 | €183,836 | €181,941 | -€1,895 | -1.0% |
| Operating profit (loss) | 9901 | €106,000 | €115,210 | +€9,210 | +8.7% |
| Financial income | 75/76B | €3,182 | €3,878 | +€696 | +21.9% |
| Recurring financial income | 75 | €3,182 | €3,878 | +€696 | +21.9% |
| Financial charges | 65/66B | €14,387 | €15,106 | +€719 | +5.0% |
| Recurring financial charges | 65 | €14,387 | €15,106 | +€719 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €94,794 | €103,981 | +€9,187 | +9.7% |
| Income taxes | 67/77 | €23,817 | €27,508 | +€3,691 | +15.5% |
| Profit (loss) for the period | 9904 | €70,977 | €76,473 | +€5,496 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €70,977 | €76,473 | +€5,496 | +7.7% |
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 21 October 2026 via checked.be.