IMMORAX: 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.
IMMORAX
Largest movements
- Cash +€23,449
up €23,449 (+187.0%), from €12,542 to €35,991
mainly Depreciation (+€25,319) and Net result for the year (+€11,186)
- Tangible fixed assets -€18,708
down €18,708 (-5.1%), from €367,803 to €349,095
of which Land and buildings: -€17,229
- Profit (loss) carried forward +€11,186
up €11,186 (+15.2%), from -€73,722 to -€62,536
- Current portion of long-term debt -€5,454
down €5,454 (-1.4%), from €384,947 to €379,493
- Gross operating margin -€3,362
down €3,362 (-6.7%), from €50,547 to €47,186
- Depreciation -€1,683
down €1,683 (-6.2%), from €27,002 to €25,319
- Financial charges -€1,577
down €1,577 (-90.9%), from €1,735 to €158
- Financial income +€593
up €593 (+658.5%), from €90 to €683
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 | €380,345 | €385,087 | +€4,742 | +1.2% |
| Fixed assets | 21/28 | €367,803 | €349,095 | -€18,708 | -5.1% |
| Tangible fixed assets | 22/27 | €367,803 | €349,095 | -€18,708 | -5.1% |
| Land and buildings | 22 | €314,856 | €297,627 | -€17,229 | -5.5% |
| Plant, machinery and equipment | 23 | €52,947 | €51,469 | -€1,478 | -2.8% |
| Current assets | 29/58 | €12,542 | €35,991 | +€23,449 | +187.0% |
| Cash at bank and in hand | 54/58 | €12,542 | €35,991 | +€23,449 | +187.0% |
| Total equity and liabilities | 10/49 | €380,345 | €385,087 | +€4,742 | +1.2% |
| Equity | 10/15 | -€5,592 | €5,594 | +€11,186 | |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €6,631 | €6,631 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,722 | -€62,536 | +€11,186 | +15.2% |
| Amounts payable | 17/49 | €385,937 | €379,493 | -€6,445 | -1.7% |
| Amounts payable within one year | 42/48 | €385,937 | €379,493 | -€6,445 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €384,947 | €379,493 | -€5,454 | -1.4% |
| Trade debts | 44 | €990 | - | -€990 | |
| Suppliers | 440/4 | €990 | - | -€990 | |
| Non-recurring operating income | 76A | €3,436 | - | -€3,436 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,002 | €25,319 | -€1,683 | -6.2% |
| Other operating charges | 640/8 | €11,110 | €11,205 | +€95 | +0.9% |
| Gross operating margin | 9900 | €50,547 | €47,186 | -€3,362 | -6.7% |
| Operating profit (loss) | 9901 | €12,436 | €10,662 | -€1,774 | -14.3% |
| Financial income | 75/76B | €90 | €683 | +€593 | +658.5% |
| Recurring financial income | 75 | €90 | €683 | +€593 | +658.5% |
| Financial charges | 65/66B | €1,735 | €158 | -€1,577 | -90.9% |
| Recurring financial charges | 65 | €1,735 | €158 | -€1,577 | -90.9% |
| Profit (loss) for the period before taxes | 9903 | €10,791 | €11,186 | +€396 | +3.7% |
| Profit (loss) for the period | 9904 | €10,791 | €11,186 | +€396 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,791 | €11,186 | +€396 | +3.7% |
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 28 September 2026 via checked.be.