IMMOMAD: 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.
IMMOMAD
Largest movements
- Tangible fixed assets -€93,449
down €93,449 (-3.6%), from €2.6m to €2.5m
- Current investments +€40,282
up €40,282 (+49.9%), from €80,737 to €121,018
- Debts after one year -€125,236
down €125,236 (-13.0%), from €959,952 to €834,716
of which Financial debts: -€123,067
- Reserves +€39,621
up €39,621 (+6.4%), from €621,627 to €661,248
of which Distributable reserves: +€48,000
- Gross operating margin +€116,093
up €116,093 (+99.2%), from €117,006 to €233,099
- Taxes +€20,325
up €20,325 (+562%), from €3,619 to €23,944
- Financial income -€15,081
down €15,081 (-95.8%), from €15,749 to €668
of which Non-recurring financial income: -€12,793
- Financial charges -€10,072
down €10,072 (-14.1%), from €71,200 to €61,128
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 | €2,675,565 | €2,619,676 | -€55,888 | -2.1% |
| Fixed assets | 21/28 | €2,570,787 | €2,477,338 | -€93,449 | -3.6% |
| Tangible fixed assets | 22/27 | €2,570,787 | €2,477,338 | -€93,449 | -3.6% |
| Land and buildings | 22 | €2,570,787 | €2,477,338 | -€93,449 | -3.6% |
| Current assets | 29/58 | €104,778 | €142,338 | +€37,561 | +35.8% |
| Amounts receivable within one year | 40/41 | €886 | €886 | = | 0.0% |
| Other amounts receivable | 41 | €886 | €886 | = | 0.0% |
| Current investments | 50/53 | €80,737 | €121,018 | +€40,282 | +49.9% |
| Cash at bank and in hand | 54/58 | €23,154 | €14,749 | -€8,405 | -36.3% |
| Deferred charges and accrued income | 490/1 | €0 | €5,684 | +€5,684 | |
| Total equity and liabilities | 10/49 | €2,675,565 | €2,619,676 | -€55,888 | -2.1% |
| Equity | 10/15 | €944,126 | €1,003,222 | +€59,096 | +6.3% |
| Contributions | 10/11 | €341,591 | €341,591 | = | 0.0% |
| Capital | 10 | €341,591 | €341,591 | = | 0.0% |
| Issued capital | 100 | €341,591 | €341,591 | = | 0.0% |
| Reserves | 13 | €621,627 | €661,248 | +€39,621 | +6.4% |
| Non-distributable reserves | 130/1 | €34,159 | €34,159 | = | 0.0% |
| Legal reserve | 130 | €34,159 | €34,159 | = | 0.0% |
| Tax-exempt reserves | 132 | €197,467 | €189,089 | -€8,379 | -4.2% |
| Distributable reserves | 133 | €390,000 | €438,000 | +€48,000 | +12.3% |
| Profit (loss) carried forward | 14 | -€19,091 | €383 | +€19,474 | |
| Provisions and deferred taxes | 16 | €154,601 | €148,041 | -€6,560 | -4.2% |
| Deferred taxes | 168 | €154,601 | €148,041 | -€6,560 | -4.2% |
| Amounts payable | 17/49 | €1,576,837 | €1,468,413 | -€108,424 | -6.9% |
| Amounts payable after more than one year | 17 | €959,952 | €834,716 | -€125,236 | -13.0% |
| Financial debts | 170/4 | €614,089 | €491,023 | -€123,067 | -20.0% |
| Trade debts | 175 | €5,320 | €3,150 | -€2,170 | -40.8% |
| Other amounts payable | 178/9 | €340,543 | €340,543 | = | 0.0% |
| Amounts payable within one year | 42/48 | €607,575 | €621,604 | +€14,029 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €123,067 | €123,067 | = | 0.0% |
| Trade debts | 44 | €2,483 | €7,614 | +€5,131 | +207% |
| Suppliers | 440/4 | €2,483 | €7,614 | +€5,131 | +207% |
| Taxes, remuneration and social security | 45 | - | €1,243 | +€1,243 | |
| Taxes | 450/3 | - | €1,243 | +€1,243 | |
| Other amounts payable | 47/48 | €482,025 | €489,680 | +€7,655 | +1.6% |
| Accrued charges and deferred income | 492/3 | €9,310 | €12,093 | +€2,783 | +29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,194 | €80,021 | -€1,173 | -1.4% |
| Other operating charges | 640/8 | €15,928 | €16,139 | +€211 | +1.3% |
| Gross operating margin | 9900 | €117,006 | €233,099 | +€116,093 | +99.2% |
| Operating profit (loss) | 9901 | €19,884 | €136,939 | +€117,055 | +589% |
| Financial income | 75/76B | €15,749 | €668 | -€15,081 | -95.8% |
| Recurring financial income | 75 | €2,956 | €668 | -€2,288 | -77.4% |
| Non-recurring financial income | 76B | €12,793 | €0 | -€12,793 | -100% |
| Financial charges | 65/66B | €71,200 | €61,128 | -€10,072 | -14.1% |
| Recurring financial charges | 65 | €71,200 | €61,128 | -€10,072 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | -€35,567 | €76,480 | +€112,047 | |
| Transfer from deferred taxes | 780 | €6,560 | €6,560 | = | 0.0% |
| Income taxes | 67/77 | €3,619 | €23,944 | +€20,325 | +562% |
| Profit (loss) for the period | 9904 | -€32,626 | €59,096 | +€91,722 | |
| Transfer from tax-exempt reserves | 789 | €8,379 | €8,379 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,248 | €67,474 | +€91,722 |
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.