IMMORAUSA: 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.
IMMORAUSA
Largest movements
- Receivables within one year -€17,663
down €17,663 (-13.6%), from €129,516 to €111,853
of which Trade receivables: -€22,319
- Cash +€5,429
up €5,429 (+512%), from €1,061 to €6,490
mainly Receivables within one year (+€17,663) and Depreciation (+€4,625)
- Tangible fixed assets -€3,587
down €3,587 (-9.8%), from €36,604 to €33,017
of which Plant, machinery and equipment: -€1,811
- Trade debts -€17,332
down €17,332 (-68.6%), from €25,281 to €7,949
- Short-term financial debts -€3,869
no longer reported in 2025 (was €3,869)
- Tax, wage and social debts +€3,090
up €3,090 (+1,282%), from €241 to €3,331
- Profit (loss) carried forward +€2,290
up €2,290 (+3.8%), from €60,008 to €62,298
- Gross operating margin +€7,205
up €7,205 (+197%), from €3,650 to €10,855
- Taxes +€2,847
up €2,847 (+1,176%), from €242 to €3,089
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 | €173,931 | €158,110 | -€15,821 | -9.1% |
| Fixed assets | 21/28 | €36,604 | €33,017 | -€3,587 | -9.8% |
| Tangible fixed assets | 22/27 | €36,604 | €33,017 | -€3,587 | -9.8% |
| Land and buildings | 22 | €18,946 | €17,170 | -€1,776 | -9.4% |
| Plant, machinery and equipment | 23 | €16,786 | €14,975 | -€1,811 | -10.8% |
| Furniture and vehicles | 24 | €872 | €872 | = | 0.0% |
| Current assets | 29/58 | €137,327 | €125,093 | -€12,234 | -8.9% |
| Stocks and contracts in progress | 3 | €6,750 | €6,750 | = | 0.0% |
| Stocks | 30/36 | €6,750 | €6,750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €129,516 | €111,853 | -€17,663 | -13.6% |
| Trade receivables | 40 | €88,637 | €66,318 | -€22,319 | -25.2% |
| Other amounts receivable | 41 | €40,879 | €45,535 | +€4,656 | +11.4% |
| Cash at bank and in hand | 54/58 | €1,061 | €6,490 | +€5,429 | +512% |
| Total equity and liabilities | 10/49 | €173,931 | €158,110 | -€15,821 | -9.1% |
| Equity | 10/15 | €144,540 | €146,830 | +€2,290 | +1.6% |
| Contributions | 10/11 | €76,847 | €76,847 | = | 0.0% |
| Capital | 10 | €76,847 | €76,847 | = | 0.0% |
| Issued capital | 100 | €76,847 | €76,847 | = | 0.0% |
| Reserves | 13 | €7,685 | €7,685 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,685 | €7,685 | = | 0.0% |
| Legal reserve | 130 | €7,685 | €7,685 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,008 | €62,298 | +€2,290 | +3.8% |
| Amounts payable | 17/49 | €29,391 | €11,280 | -€18,111 | -61.6% |
| Amounts payable within one year | 42/48 | €29,391 | €11,280 | -€18,111 | -61.6% |
| Financial debts | 43 | €3,869 | - | -€3,869 | |
| Credit institutions | 430/8 | €3,869 | - | -€3,869 | |
| Trade debts | 44 | €25,281 | €7,949 | -€17,332 | -68.6% |
| Suppliers | 440/4 | €25,281 | €7,949 | -€17,332 | -68.6% |
| Taxes, remuneration and social security | 45 | €241 | €3,331 | +€3,090 | +1,282% |
| Taxes | 450/3 | €241 | €3,331 | +€3,090 | +1,282% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,625 | €4,625 | = | 0.0% |
| Other operating charges | 640/8 | €179 | €216 | +€37 | +20.7% |
| Gross operating margin | 9900 | €3,650 | €10,855 | +€7,205 | +197% |
| Operating profit (loss) | 9901 | -€1,154 | €6,014 | +€7,168 | |
| Financial charges | 65/66B | €711 | €635 | -€76 | -10.7% |
| Recurring financial charges | 65 | €711 | €635 | -€76 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,865 | €5,379 | +€7,244 | |
| Income taxes | 67/77 | €242 | €3,089 | +€2,847 | +1,176% |
| Profit (loss) for the period | 9904 | -€2,107 | €2,290 | +€4,397 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,107 | €2,290 | +€4,397 |
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 13 October 2026 via checked.be.