IMMONEUF: 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.
IMMONEUF
Largest movements
- Financial fixed assets -€275,143
down €275,143 (-92.7%), from €296,766 to €21,623
- Receivables within one year -€138,043
down €138,043 (-10.1%), from €1.4m to €1.2m
of which Trade receivables: -€413,674
- Stocks and contracts +€73,000
up €73,000 (+58.4%), from €124,958 to €197,958
of which Contracts in progress: +€73,000
- Cash +€22,936
up €22,936 (+77.0%), from €29,783 to €52,719
mainly Investment in fixed assets (net) (+€275,143) and Receivables within one year (+€138,043)
- Trade debts -€150,260
down €150,260 (-41.4%), from €363,060 to €212,800
- Short-term financial debts -€123,947
down €123,947 (-29.2%), from €423,947 to €300,000
- Other debts -€31,631
down €31,631 (-81.2%), from €38,961 to €7,330
- Gross operating margin +€188,374
up €188,374 (+50.9%), from €370,422 to €558,796
- Write-downs +€173,818
new in 2025: €173,818
- Other operating charges +€20,813
up €20,813 (+212%), from €9,795 to €30,608
- Financial charges +€12,299
up €12,299 (+42.7%), from €28,772 to €41,071
- Financial income -€7,324
down €7,324 (-92.7%), from €7,902 to €579
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 | €1,861,273 | €1,534,446 | -€326,827 | -17.6% |
| Fixed assets | 21/28 | €320,075 | €34,901 | -€285,174 | -89.1% |
| Tangible fixed assets | 22/27 | €23,308 | €13,278 | -€10,031 | -43.0% |
| Plant, machinery and equipment | 23 | €4,740 | €2,193 | -€2,547 | -53.7% |
| Furniture and vehicles | 24 | €18,568 | €11,085 | -€7,483 | -40.3% |
| Financial fixed assets | 28 | €296,766 | €21,623 | -€275,143 | -92.7% |
| Current assets | 29/58 | €1,541,199 | €1,499,545 | -€41,654 | -2.7% |
| Stocks and contracts in progress | 3 | €124,958 | €197,958 | +€73,000 | +58.4% |
| Stocks | 30/36 | €98,958 | €98,958 | = | 0.0% |
| Contracts in progress | 37 | €26,000 | €99,000 | +€73,000 | +281% |
| Amounts receivable within one year | 40/41 | €1,373,038 | €1,234,995 | -€138,043 | -10.1% |
| Trade receivables | 40 | €1,364,287 | €950,613 | -€413,674 | -30.3% |
| Other amounts receivable | 41 | €8,751 | €284,382 | +€275,632 | +3,150% |
| Cash at bank and in hand | 54/58 | €29,783 | €52,719 | +€22,936 | +77.0% |
| Deferred charges and accrued income | 490/1 | €13,420 | €13,873 | +€453 | +3.4% |
| Total equity and liabilities | 10/49 | €1,861,273 | €1,534,446 | -€326,827 | -17.6% |
| Equity | 10/15 | €919,333 | €917,388 | -€1,945 | -0.2% |
| Contributions | 10/11 | €557,760 | €557,760 | = | 0.0% |
| Reserves | 13 | €361,573 | €359,628 | -€1,945 | -0.5% |
| Distributable reserves | 133 | €361,573 | €359,628 | -€1,945 | -0.5% |
| Amounts payable | 17/49 | €941,940 | €617,057 | -€324,883 | -34.5% |
| Amounts payable within one year | 42/48 | €935,470 | €615,277 | -€320,193 | -34.2% |
| Financial debts | 43 | €423,947 | €300,000 | -€123,947 | -29.2% |
| Credit institutions | 430/8 | €423,947 | €300,000 | -€123,947 | -29.2% |
| Trade debts | 44 | €363,060 | €212,800 | -€150,260 | -41.4% |
| Suppliers | 440/4 | €363,060 | €212,800 | -€150,260 | -41.4% |
| Taxes, remuneration and social security | 45 | €109,501 | €95,147 | -€14,355 | -13.1% |
| Taxes | 450/3 | €56,402 | €25,104 | -€31,298 | -55.5% |
| Remuneration and social security | 454/9 | €53,099 | €70,042 | +€16,943 | +31.9% |
| Other amounts payable | 47/48 | €38,961 | €7,330 | -€31,631 | -81.2% |
| Accrued charges and deferred income | 492/3 | €6,470 | €1,781 | -€4,690 | -72.5% |
| Remuneration, social security and pensions | 62 | €296,031 | €303,088 | +€7,056 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,896 | €10,031 | +€135 | +1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €173,818 | +€173,818 | |
| Other operating charges | 640/8 | €9,795 | €30,608 | +€20,813 | +212% |
| Gross operating margin | 9900 | €370,422 | €558,796 | +€188,374 | +50.9% |
| Operating profit (loss) | 9901 | €54,701 | €41,252 | -€13,449 | -24.6% |
| Financial income | 75/76B | €7,902 | €579 | -€7,324 | -92.7% |
| Recurring financial income | 75 | €7,902 | €579 | -€7,324 | -92.7% |
| Financial charges | 65/66B | €28,772 | €41,071 | +€12,299 | +42.7% |
| Recurring financial charges | 65 | €28,772 | €41,071 | +€12,299 | +42.7% |
| Profit (loss) for the period before taxes | 9903 | €33,832 | €759 | -€33,072 | -97.8% |
| Income taxes | 67/77 | €4,481 | €2,704 | -€1,777 | -39.7% |
| Profit (loss) for the period | 9904 | €29,350 | -€1,945 | -€31,295 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,350 | -€1,945 | -€31,295 |
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 18 October 2026 via checked.be.