IMMOLUX: 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
IMMOLUX
NACE 68.121, Development of residential building projects
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€232,841
2024 · -€130,950-€101,891
Equity
€11.0m
2024 · €11.3m-€232,841
Cash
€43,137
2024 · €2,296+€40,841
Balance sheet total
€11.7m
2024 · €11.6m+€19,711
Largest movements
Assets
- Stocks and contracts -€4.2m
down €4.2m (-64.7%), from €6.6m to €2.3m
- Financial fixed assets +€4.2m
up €4.2m (+130.6%), from €3.2m to €7.5m
of which Affiliated companies: +€4.2m
Equity and liabilities
- Profit (loss) carried forward -€232,841
down €232,841 (-2.6%), from €8.8m to €8.6m
- Trade debts +€153,890
up €153,890 (+85.8%), from €179,347 to €333,238
Income statement
- Turnover +€314,838
up €314,838 (+34.6%), from €908,880 to €1.2m
- Goods and materials +€272,601
up €272,601 (+63.8%), from €426,990 to €699,592
- Depreciation -€76,521
down €76,521 (-98.3%), from €77,849 to €1,328
- Services and other goods +€55,502
up €55,502 (+13.3%), from €416,271 to €471,773
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
-€130,950
Turnover
+€314,838
Other operating income
+€11,280
Goods and materials
-€272,601
Services and other goods
-€55,502
Staff costs
-€4,743
Depreciation
+€76,521
Write-downs
-€226
Other operating charges
-€12,144
Other operating items
-€153,813
Financial income
-€4,949
Financial charges
-€765
Taxes
+€214
Result 2025
-€232,841
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
+€4.3m
Investment
-€4.2m
Financing
€0
Cash 2024
€2,296
From operations (derived)
+€4.3m
Net result for the year
-€232,841
Depreciation
+€1,328
Stocks and contracts
+€4.2m
Smaller working-capital items
-€5,087
Trade debts
+€153,890
Tax, wage and social debts
+€98,363
Investment (derived)
-€4.2m
Investment in fixed assets (net)
-€4.2m
Cash 2025
€43,137
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,640,833 | €11,660,544 | +€19,711 | +0.2% |
| Fixed assets | 21/28 | €3,242,996 | €7,460,335 | +€4.2m | +130.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €10,098 | €5,195 | -€4,903 | -48.6% |
| Land and buildings | 22 | €3,879 | €3,879 | = | 0.0% |
| Furniture and vehicles | 24 | €6,219 | €1,316 | -€4,903 | -78.8% |
| Financial fixed assets | 28 | €3,232,898 | €7,455,140 | +€4.2m | +130.6% |
| Affiliated companies | 280/1 | €3,224,620 | €7,446,862 | +€4.2m | +130.9% |
| Participating interests | 280 | €3,224,620 | €7,446,862 | +€4.2m | +130.9% |
| Other financial fixed assets | 284/8 | €8,279 | €8,279 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €8,279 | €8,279 | = | 0.0% |
| Current assets | 29/58 | €8,397,837 | €4,200,209 | -€4.2m | -50.0% |
| Stocks and contracts in progress | 3 | €6,560,034 | €2,316,180 | -€4.2m | -64.7% |
| Stocks | 30/36 | €6,560,034 | €2,316,180 | -€4.2m | -64.7% |
| Work in progress | 32 | €6,245,373 | €2,001,519 | -€4.2m | -68.0% |
| Property held for sale | 35 | €314,662 | €314,662 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,748,164 | €1,752,846 | +€4,682 | +0.3% |
| Trade receivables | 40 | €629,472 | €499,948 | -€129,524 | -20.6% |
| Other amounts receivable | 41 | €1,118,692 | €1,252,898 | +€134,206 | +12.0% |
| Cash at bank and in hand | 54/58 | €2,296 | €43,137 | +€40,841 | +1779.1% |
| Deferred charges and accrued income | 490/1 | €87,342 | €88,046 | +€704 | +0.8% |
| Total equity and liabilities | 10/49 | €11,640,833 | €11,660,544 | +€19,711 | +0.2% |
| Equity | 10/15 | €11,261,208 | €11,028,367 | -€232,841 | -2.1% |
| Contributions | 10/11 | €1,450,000 | €1,450,000 | = | 0.0% |
| Capital | 10 | €1,450,000 | €1,450,000 | = | 0.0% |
| Issued capital | 100 | €1,450,000 | €1,450,000 | = | 0.0% |
| Reserves | 13 | €973,698 | €973,698 | = | 0.0% |
| Non-distributable reserves | 130/1 | €153,284 | €153,284 | = | 0.0% |
| Legal reserve | 130 | €145,000 | €145,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,284 | €8,284 | = | 0.0% |
| Tax-exempt reserves | 132 | €50,240 | €40,192 | -€10,048 | -20.0% |
| Distributable reserves | 133 | €770,175 | €780,222 | +€10,048 | +1.3% |
| Profit (loss) carried forward | 14 | €8,837,510 | €8,604,669 | -€232,841 | -2.6% |
| Amounts payable | 17/49 | €379,625 | €632,177 | +€252,552 | +66.5% |
| Amounts payable within one year | 42/48 | €303,675 | €556,227 | +€252,552 | +83.2% |
| Trade debts | 44 | €179,347 | €333,238 | +€153,890 | +85.8% |
| Suppliers | 440/4 | €179,347 | €333,238 | +€153,890 | +85.8% |
| Taxes, remuneration and social security | 45 | €71,246 | €169,609 | +€98,363 | +138.1% |
| Taxes | 450/3 | €32,041 | €138,329 | +€106,288 | +331.7% |
| Remuneration and social security | 454/9 | €39,205 | €31,280 | -€7,925 | -20.2% |
| Other amounts payable | 47/48 | €53,082 | €53,380 | +€299 | +0.6% |
| Accrued charges and deferred income | 492/3 | €75,950 | €75,950 | = | 0.0% |
| Operating income | 70/76A | €1,052,527 | €1,343,466 | +€290,938 | +27.6% |
| Turnover | 70 | €908,880 | €1,223,718 | +€314,838 | +34.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €89,364 | €54,138 | -€35,225 | -39.4% |
| Other operating income | 74 | €53,799 | €65,079 | +€11,280 | +21.0% |
| Non-recurring operating income | 76A | €485 | €531 | +€46 | +9.5% |
| Operating charges | 60/66A | €1,202,285 | €1,589,614 | +€387,329 | +32.2% |
| Goods for resale, raw materials and consumables | 60 | €426,990 | €699,592 | +€272,601 | +63.8% |
| Purchases | 600/8 | €426,990 | €699,592 | +€272,601 | +63.8% |
| Services and other goods | 61 | €416,271 | €471,773 | +€55,502 | +13.3% |
| Remuneration, social security and pensions | 62 | €272,638 | €277,381 | +€4,743 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,849 | €1,328 | -€76,521 | -98.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€226 | €0 | +€226 | |
| Other operating charges | 640/8 | €8,763 | €20,907 | +€12,144 | +138.6% |
| Non-recurring operating charges | 66A | €0 | €118,634 | +€118,634 | |
| Operating profit (loss) | 9901 | -€149,758 | -€246,149 | -€96,391 | -64.4% |
| Financial income | 75/76B | €32,939 | €27,990 | -€4,949 | -15.0% |
| Recurring financial income | 75 | €32,939 | €27,990 | -€4,949 | -15.0% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €32,939 | €27,990 | -€4,949 | -15.0% |
| Other financial income | 752/9 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €13,285 | €14,050 | +€765 | +5.8% |
| Recurring financial charges | 65 | €13,285 | €14,050 | +€765 | +5.8% |
| Debt charges | 650 | €8,641 | €8,738 | +€96 | +1.1% |
| Other financial charges | 652/9 | €4,643 | €5,312 | +€669 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | -€130,104 | -€232,209 | -€102,105 | -78.5% |
| Income taxes | 67/77 | €846 | €633 | -€214 | -25.3% |
| Taxes | 670/3 | €846 | €633 | -€214 | -25.3% |
| Profit (loss) for the period | 9904 | -€130,950 | -€232,841 | -€101,891 | -77.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€130,950 | -€232,841 | -€101,891 | -77.8% |
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 12 October 2026 via checked.be.