IMMONAL: what changed
Two fiscal 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.
IMMONAL
Largest movements
- Cash +€23,764
up €23,764 (+37.6%), from €63,282 to €87,046
mainly Depreciation (+€11,510) and Net result for the year (+€6,712)
- Tangible fixed assets -€11,510
down €11,510 (-16.0%), from €71,937 to €60,427
of which Land and buildings: -€8,498
- Reserves +€6,712
up €6,712 (+21.6%), from €31,098 to €37,809
- Other debts +€5,497
up €5,497 (+100.0%), from €5,497 to €10,994
- Gross operating margin -€6,738
down €6,738 (-17.3%), from €38,889 to €32,151
- Taxes -€2,192
down €2,192 (-40.8%), from €5,374 to €3,182
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €266,606 | €279,455 | +€12,848 | +4.8% |
| Fixed assets | 21/28 | €71,937 | €60,427 | -€11,510 | -16.0% |
| Tangible fixed assets | 22/27 | €71,937 | €60,427 | -€11,510 | -16.0% |
| Land and buildings | 22 | €61,201 | €52,703 | -€8,498 | -13.9% |
| Other tangible fixed assets | 26 | €10,736 | €7,725 | -€3,011 | -28.0% |
| Current assets | 29/58 | €194,669 | €219,027 | +€24,358 | +12.5% |
| Amounts receivable within one year | 40/41 | €3,093 | €3,093 | = | 0.0% |
| Other amounts receivable | 41 | €3,093 | €3,093 | = | 0.0% |
| Current investments | 50/53 | €126,759 | €127,342 | +€583 | +0.5% |
| Cash at bank and in hand | 54/58 | €63,282 | €87,046 | +€23,764 | +37.6% |
| Deferred charges and accrued income | 490/1 | €1,536 | €1,547 | +€11 | +0.7% |
| Total equity and liabilities | 10/49 | €266,606 | €279,455 | +€12,848 | +4.8% |
| Equity | 10/15 | €155,098 | €161,809 | +€6,712 | +4.3% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €31,098 | €37,809 | +€6,712 | +21.6% |
| Distributable reserves | 133 | €31,098 | €37,809 | +€6,712 | +21.6% |
| Amounts payable | 17/49 | €111,509 | €117,645 | +€6,137 | +5.5% |
| Amounts payable after more than one year | 17 | €98,159 | €98,159 | = | 0.0% |
| Other amounts payable | 178/9 | €98,159 | €98,159 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,497 | €11,634 | +€6,137 | +111.6% |
| Trade debts | 44 | €0 | €208 | +€208 | |
| Suppliers | 440/4 | €0 | €208 | +€208 | |
| Taxes, remuneration and social security | 45 | - | €432 | +€432 | |
| Taxes | 450/3 | - | €432 | +€432 | |
| Other amounts payable | 47/48 | €5,497 | €10,994 | +€5,497 | +100.0% |
| Accrued charges and deferred income | 492/3 | €7,853 | €7,853 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,553 | €11,510 | -€43 | -0.4% |
| Other operating charges | 640/8 | €3,615 | €3,728 | +€113 | +3.1% |
| Gross operating margin | 9900 | €38,889 | €32,151 | -€6,738 | -17.3% |
| Operating profit (loss) | 9901 | €23,722 | €16,913 | -€6,809 | -28.7% |
| Financial income | 75/76B | €1,020 | €833 | -€187 | -18.3% |
| Recurring financial income | 75 | €1,020 | €833 | -€187 | -18.3% |
| Financial charges | 65/66B | €7,853 | €7,853 | +€0 | 0.0% |
| Recurring financial charges | 65 | €7,853 | €7,853 | +€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €16,889 | €9,894 | -€6,995 | -41.4% |
| Income taxes | 67/77 | €5,374 | €3,182 | -€2,192 | -40.8% |
| Profit (loss) for the period | 9904 | €11,515 | €6,712 | -€4,804 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,515 | €6,712 | -€4,804 | -41.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.