IMMOPHAR: 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.
IMMOPHAR
Largest movements
- Current investments +€400,000
new in 2025: €400,000
- Cash +€145,423
up €145,423 (+91.8%), from €158,419 to €303,842
mainly Net result for the year (+€461,436) and Depreciation (+€88,862)
- Tangible fixed assets -€87,416
down €87,416 (-5.2%), from €1.7m to €1.6m
of which Land and buildings: -€57,035
- Reserves +€408,496
up €408,496 (+31.9%), from €1.3m to €1.7m
of which Distributable reserves: +€415,000
- Tax, wage and social debts +€50,142
up €50,142 (+181.9%), from €27,559 to €77,701
of which Taxes: +€50,142
- Gross operating margin +€314,999
up €314,999 (+70.4%), from €447,353 to €762,352
- Taxes +€94,716
up €94,716 (+93.4%), from €101,393 to €196,109
- Depreciation +€19,980
up €19,980 (+29.0%), from €68,882 to €88,862
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 | €1,902,006 | €2,347,326 | +€445,320 | +23.4% |
| Fixed assets | 21/28 | €1,694,600 | €1,607,184 | -€87,416 | -5.2% |
| Tangible fixed assets | 22/27 | €1,694,600 | €1,607,184 | -€87,416 | -5.2% |
| Land and buildings | 22 | €1,552,438 | €1,495,403 | -€57,035 | -3.7% |
| Furniture and vehicles | 24 | €142,162 | €111,781 | -€30,381 | -21.4% |
| Current assets | 29/58 | €207,406 | €740,142 | +€532,736 | +256.9% |
| Amounts receivable within one year | 40/41 | €48,987 | €36,300 | -€12,687 | -25.9% |
| Trade receivables | 40 | €36,300 | €36,300 | = | 0.0% |
| Other amounts receivable | 41 | €12,687 | €0 | -€12,687 | -100.0% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €158,419 | €303,842 | +€145,423 | +91.8% |
| Total equity and liabilities | 10/49 | €1,902,006 | €2,347,326 | +€445,320 | +23.4% |
| Equity | 10/15 | €1,372,639 | €1,782,571 | +€409,932 | +29.9% |
| Contributions | 10/11 | €89,250 | €89,250 | = | 0.0% |
| Capital | 10 | €89,250 | €89,250 | = | 0.0% |
| Issued capital | 100 | €89,250 | €89,250 | = | 0.0% |
| Reserves | 13 | €1,281,222 | €1,689,718 | +€408,496 | +31.9% |
| Non-distributable reserves | 130/1 | €8,925 | €8,925 | = | 0.0% |
| Legal reserve | 130 | €8,925 | €8,925 | = | 0.0% |
| Tax-exempt reserves | 132 | €182,297 | €175,793 | -€6,504 | -3.6% |
| Distributable reserves | 133 | €1,090,000 | €1,505,000 | +€415,000 | +38.1% |
| Profit (loss) carried forward | 14 | €2,167 | €3,603 | +€1,436 | +66.3% |
| Provisions and deferred taxes | 16 | €60,766 | €58,598 | -€2,168 | -3.6% |
| Deferred taxes | 168 | €60,766 | €58,598 | -€2,168 | -3.6% |
| Amounts payable | 17/49 | €468,602 | €506,158 | +€37,556 | +8.0% |
| Amounts payable within one year | 42/48 | €468,602 | €506,158 | +€37,556 | +8.0% |
| Trade debts | 44 | €775 | €4,650 | +€3,875 | +500.2% |
| Suppliers | 440/4 | €775 | €4,650 | +€3,875 | +500.2% |
| Taxes, remuneration and social security | 45 | €27,559 | €77,701 | +€50,142 | +181.9% |
| Taxes | 450/3 | €27,559 | €77,701 | +€50,142 | +181.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €440,268 | €423,807 | -€16,461 | -3.7% |
| Non-recurring operating income | 76A | - | €12,397 | +€12,397 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,882 | €88,862 | +€19,980 | +29.0% |
| Other operating charges | 640/8 | €11,058 | €11,206 | +€148 | +1.3% |
| Gross operating margin | 9900 | €447,353 | €762,352 | +€314,999 | +70.4% |
| Operating profit (loss) | 9901 | €367,414 | €662,285 | +€294,871 | +80.3% |
| Financial income | 75/76B | €0 | €1,266 | +€1,266 | |
| Recurring financial income | 75 | €0 | €1,266 | +€1,266 | |
| Financial charges | 65/66B | €15,929 | €14,677 | -€1,252 | -7.9% |
| Recurring financial charges | 65 | €15,929 | €14,677 | -€1,252 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €351,485 | €648,874 | +€297,389 | +84.6% |
| Transfer from deferred taxes | 780 | €8,671 | €8,671 | = | 0.0% |
| Income taxes | 67/77 | €101,393 | €196,109 | +€94,716 | +93.4% |
| Profit (loss) for the period | 9904 | €258,763 | €461,436 | +€202,673 | +78.3% |
| Profit (loss) for the period to be appropriated | 9905 | €258,763 | €461,436 | +€202,673 | +78.3% |
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 5 October 2026 via checked.be.