IMMORO: 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.
IMMORO
Largest movements
- Receivables within one year +€146,073
up €146,073 (+83.9%), from €174,061 to €320,134
of which Other amounts receivable: +€144,997
- Tangible fixed assets -€49,313
down €49,313 (-5.3%), from €923,985 to €874,673
of which Land and buildings: -€48,696
- Cash -€38,181
down €38,181 (-61.6%), from €61,951 to €23,770
mainly Receivables within one year (-€146,073) and Contributions, distributions and other (-€18,998)
- Reserves +€61,929
up €61,929 (+6.8%), from €914,075 to €976,004
of which Distributable reserves: +€75,564
- Gross operating margin -€81,729
down €81,729 (-36.9%), from €221,266 to €139,536
- Taxes -€29,884
down €29,884 (-39.1%), from €76,421 to €46,537
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 | €1,159,997 | €1,218,577 | +€58,579 | +5.0% |
| Fixed assets | 21/28 | €923,985 | €874,673 | -€49,313 | -5.3% |
| Tangible fixed assets | 22/27 | €923,985 | €874,673 | -€49,313 | -5.3% |
| Land and buildings | 22 | €920,930 | €872,233 | -€48,696 | -5.3% |
| Furniture and vehicles | 24 | €3,056 | €2,439 | -€616 | -20.2% |
| Current assets | 29/58 | €236,012 | €343,904 | +€107,892 | +45.7% |
| Amounts receivable within one year | 40/41 | €174,061 | €320,134 | +€146,073 | +83.9% |
| Trade receivables | 40 | €8,386 | €9,462 | +€1,076 | +12.8% |
| Other amounts receivable | 41 | €165,675 | €310,672 | +€144,997 | +87.5% |
| Cash at bank and in hand | 54/58 | €61,951 | €23,770 | -€38,181 | -61.6% |
| Total equity and liabilities | 10/49 | €1,159,997 | €1,218,577 | +€58,579 | +5.0% |
| Equity | 10/15 | €975,575 | €1,037,504 | +€61,929 | +6.3% |
| 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% |
| Reserves | 13 | €914,075 | €976,004 | +€61,929 | +6.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €340,864 | €327,230 | -€13,635 | -4.0% |
| Distributable reserves | 133 | €567,060 | €642,624 | +€75,564 | +13.3% |
| Provisions and deferred taxes | 16 | €175,519 | €168,498 | -€7,021 | -4.0% |
| Deferred taxes | 168 | €175,519 | €168,498 | -€7,021 | -4.0% |
| Amounts payable | 17/49 | €8,904 | €12,575 | +€3,671 | +41.2% |
| Amounts payable within one year | 42/48 | €8,904 | €12,575 | +€3,671 | +41.2% |
| Trade debts | 44 | €2,483 | €7,677 | +€5,194 | +209.1% |
| Suppliers | 440/4 | €2,483 | €7,677 | +€5,194 | +209.1% |
| Taxes, remuneration and social security | 45 | €6,421 | €4,899 | -€1,523 | -23.7% |
| Taxes | 450/3 | €6,421 | €4,899 | -€1,523 | -23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,519 | €17,519 | = | 0.0% |
| Other operating charges | 640/8 | €1,828 | €1,482 | -€346 | -18.9% |
| Gross operating margin | 9900 | €221,266 | €139,536 | -€81,729 | -36.9% |
| Operating profit (loss) | 9901 | €201,919 | €120,536 | -€81,384 | -40.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €50 | €92 | +€42 | +82.5% |
| Recurring financial charges | 65 | €50 | €92 | +€42 | +82.5% |
| Profit (loss) for the period before taxes | 9903 | €201,869 | €120,443 | -€81,425 | -40.3% |
| Transfer from deferred taxes | 780 | €7,021 | €7,021 | = | 0.0% |
| Income taxes | 67/77 | €76,421 | €46,537 | -€29,884 | -39.1% |
| Profit (loss) for the period | 9904 | €132,468 | €80,927 | -€51,541 | -38.9% |
| Transfer from tax-exempt reserves | 789 | €139,935 | €13,635 | -€126,300 | -90.3% |
| Profit (loss) for the period to be appropriated | 9905 | €272,403 | €94,562 | -€177,841 | -65.3% |
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 8 October 2026 via checked.be.