IMMORENT.: 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.
IMMORENT.
Largest movements
- Cash -€16,895
down €16,895 (-42.2%), from €40,063 to €23,168
mainly Debts after one year (-€51,923) and Investment in fixed assets (net) (-€44,866)
- Tangible fixed assets -€9,126
down €9,126 (-1.2%), from €735,572 to €726,446
of which Land and buildings: -€44,241
- Debts after one year -€51,923
down €51,923 (-37.6%), from €138,178 to €86,255
of which Financial debts: -€46,318
- Reserves +€30,500
new in 2025: €30,500
- Other debts -€29,989
down €29,989 (-25.1%), from €119,271 to €89,282
- Trade debts +€22,078
up €22,078 (+78.4%), from €28,163 to €50,241
- Current portion of long-term debt +€18,006
up €18,006 (+31.5%), from €57,186 to €75,192
- Gross operating margin -€45,322
down €45,322 (-23.7%), from €191,626 to €146,304
- Taxes -€8,296
down €8,296 (-32.5%), from €25,516 to €17,220
- Other operating charges -€3,014
down €3,014 (-8.6%), from €35,064 to €32,050
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 | €776,386 | €752,128 | -€24,258 | -3.1% |
| Fixed assets | 21/28 | €735,572 | €726,446 | -€9,126 | -1.2% |
| Tangible fixed assets | 22/27 | €735,572 | €726,446 | -€9,126 | -1.2% |
| Land and buildings | 22 | €681,312 | €637,071 | -€44,241 | -6.5% |
| Plant, machinery and equipment | 23 | €52,840 | €89,375 | +€36,535 | +69.1% |
| Furniture and vehicles | 24 | €1,420 | - | -€1,420 | |
| Current assets | 29/58 | €40,814 | €25,682 | -€15,132 | -37.1% |
| Amounts receivable after more than one year | 29 | - | €756 | +€756 | |
| Other amounts receivable | 291 | - | €756 | +€756 | |
| Cash at bank and in hand | 54/58 | €40,063 | €23,168 | -€16,895 | -42.2% |
| Deferred charges and accrued income | 490/1 | €751 | €1,758 | +€1,007 | +134.0% |
| Total equity and liabilities | 10/49 | €776,386 | €752,128 | -€24,258 | -3.1% |
| Equity | 10/15 | €380,720 | €414,545 | +€33,825 | +8.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | - | -€62,000 | |
| Issued capital | 100 | €62,000 | - | -€62,000 | |
| Reserves | 13 | - | €30,500 | +€30,500 | |
| Distributable reserves | 133 | - | €30,500 | +€30,500 | |
| Profit (loss) carried forward | 14 | €318,720 | €322,045 | +€3,325 | +1.0% |
| Amounts payable | 17/49 | €395,667 | €337,583 | -€58,084 | -14.7% |
| Amounts payable after more than one year | 17 | €138,178 | €86,255 | -€51,923 | -37.6% |
| Financial debts | 170/4 | €132,573 | €86,255 | -€46,318 | -34.9% |
| Other amounts payable | 178/9 | €5,605 | - | -€5,605 | |
| Amounts payable within one year | 42/48 | €257,489 | €251,328 | -€6,161 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €57,186 | €75,192 | +€18,006 | +31.5% |
| Trade debts | 44 | €28,163 | €50,241 | +€22,078 | +78.4% |
| Suppliers | 440/4 | €28,163 | €50,241 | +€22,078 | +78.4% |
| Advances received on contracts in progress | 46 | €18,187 | €18,188 | +€1 | 0.0% |
| Taxes, remuneration and social security | 45 | €34,681 | €18,425 | -€16,256 | -46.9% |
| Taxes | 450/3 | €32,681 | €16,925 | -€15,756 | -48.2% |
| Remuneration and social security | 454/9 | €2,000 | €1,500 | -€500 | -25.0% |
| Other amounts payable | 47/48 | €119,271 | €89,282 | -€29,989 | -25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,517 | €53,992 | +€1,475 | +2.8% |
| Other operating charges | 640/8 | €35,064 | €32,050 | -€3,014 | -8.6% |
| Gross operating margin | 9900 | €191,626 | €146,304 | -€45,322 | -23.7% |
| Operating profit (loss) | 9901 | €104,044 | €60,262 | -€43,782 | -42.1% |
| Financial income | 75/76B | €310 | €233 | -€77 | -24.8% |
| Recurring financial income | 75 | €310 | €233 | -€77 | -24.8% |
| Financial charges | 65/66B | €8,279 | €9,449 | +€1,170 | +14.1% |
| Recurring financial charges | 65 | €8,279 | €9,449 | +€1,170 | +14.1% |
| Profit (loss) for the period before taxes | 9903 | €96,074 | €51,046 | -€45,028 | -46.9% |
| Income taxes | 67/77 | €25,516 | €17,220 | -€8,296 | -32.5% |
| Profit (loss) for the period | 9904 | €70,559 | €33,826 | -€36,733 | -52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €70,559 | €33,826 | -€36,733 | -52.1% |
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 11 October 2026 via checked.be.