IMMORECA: 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.
IMMORECA
Largest movements
- Cash -€35,396
down €35,396 (-40.3%), from €87,934 to €52,538
mainly Net result for the year (-€24,278) and Trade debts (-€8,062)
- Tangible fixed assets +€2,346
up €2,346 (+4.9%), from €47,924 to €50,270
of which Assets under construction and advance payments: +€6,958
- Profit (loss) carried forward -€24,278
down €24,278 (-26.4%), from €92,086 to €67,807
- Trade debts -€8,062
down €8,062 (-78.6%), from €10,259 to €2,196
- Write-downs -€34,344
down €34,344 (-100%), from €34,344 to €0
- Gross operating margin -€25,596
down €25,596, from €12,561 to -€13,035
- Depreciation -€464
down €464 (-9.1%), from €5,075 to €4,611
- Other operating charges +€188
up €188 (+3.1%), from €6,121 to €6,309
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 | €136,444 | €104,104 | -€32,340 | -23.7% |
| Fixed assets | 21/28 | €47,924 | €50,270 | +€2,346 | +4.9% |
| Tangible fixed assets | 22/27 | €47,924 | €50,270 | +€2,346 | +4.9% |
| Land and buildings | 22 | €43,313 | €43,313 | = | 0.0% |
| Plant, machinery and equipment | 23 | €4,611 | €0 | -€4,611 | -100% |
| Assets under construction and advance payments | 27 | - | €6,958 | +€6,958 | |
| Current assets | 29/58 | €88,520 | €53,834 | -€34,686 | -39.2% |
| Amounts receivable within one year | 40/41 | €0 | €713 | +€713 | |
| Trade receivables | 40 | €0 | €713 | +€713 | |
| Cash at bank and in hand | 54/58 | €87,934 | €52,538 | -€35,396 | -40.3% |
| Deferred charges and accrued income | 490/1 | €587 | €584 | -€3 | -0.5% |
| Total equity and liabilities | 10/49 | €136,444 | €104,104 | -€32,340 | -23.7% |
| Equity | 10/15 | €126,186 | €101,907 | -€24,278 | -19.2% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | €3,100 | €3,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,086 | €67,807 | -€24,278 | -26.4% |
| Amounts payable | 17/49 | €10,259 | €2,196 | -€8,062 | -78.6% |
| Amounts payable within one year | 42/48 | €10,259 | €2,196 | -€8,062 | -78.6% |
| Trade debts | 44 | €10,259 | €2,196 | -€8,062 | -78.6% |
| Suppliers | 440/4 | €10,259 | €2,196 | -€8,062 | -78.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,075 | €4,611 | -€464 | -9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €34,344 | €0 | -€34,344 | -100% |
| Other operating charges | 640/8 | €6,121 | €6,309 | +€188 | +3.1% |
| Gross operating margin | 9900 | €12,561 | -€13,035 | -€25,596 | |
| Operating profit (loss) | 9901 | -€32,979 | -€23,955 | +€9,023 | +27.4% |
| Financial income | 75/76B | - | €19 | +€19 | |
| Recurring financial income | 75 | - | €19 | +€19 | |
| Financial charges | 65/66B | €271 | €342 | +€71 | +26.4% |
| Recurring financial charges | 65 | €271 | €342 | +€71 | +26.4% |
| Profit (loss) for the period before taxes | 9903 | -€33,250 | -€24,278 | +€8,971 | +27.0% |
| Profit (loss) for the period | 9904 | -€33,250 | -€24,278 | +€8,971 | +27.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,250 | -€24,278 | +€8,971 | +27.0% |
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 14 October 2026 via checked.be.