IMMORUAU: 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.
IMMORUAU
Largest movements
- Cash +€100,571
up €100,571 (+506.4%), from €19,861 to €120,432
mainly Net result for the year (+€75,274) and Investment in fixed assets (net) (+€23,700)
- Tangible fixed assets -€37,653
down €37,653 (-11.4%), from €329,622 to €291,968
of which Land and buildings: -€45,066
- Reserves +€75,274
up €75,274 (+88.9%), from €84,675 to €159,949
of which Distributable reserves: +€75,888
- Debts after one year -€20,454
down €20,454 (-23.3%), from €87,686 to €67,231
- Tax, wage and social debts +€7,505
up €7,505 (+452.0%), from €1,660 to €9,165
of which Taxes: +€7,772
- Gross operating margin +€88,256
up €88,256 (+200.5%), from €44,028 to €132,284
- Taxes +€29,536
up €29,536 (+454.5%), from €6,498 to €36,034
- Depreciation -€2,340
down €2,340 (-14.4%), from €16,293 to €13,953
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 | €350,082 | €414,675 | +€64,592 | +18.5% |
| Fixed assets | 21/28 | €329,622 | €291,968 | -€37,653 | -11.4% |
| Tangible fixed assets | 22/27 | €329,622 | €291,968 | -€37,653 | -11.4% |
| Land and buildings | 22 | €315,539 | €270,473 | -€45,066 | -14.3% |
| Plant, machinery and equipment | 23 | €14,083 | €10,895 | -€3,188 | -22.6% |
| Furniture and vehicles | 24 | - | €10,600 | +€10,600 | |
| Current assets | 29/58 | €20,461 | €122,706 | +€102,246 | +499.7% |
| Amounts receivable within one year | 40/41 | €600 | - | -€600 | |
| Trade receivables | 40 | €600 | - | -€600 | |
| Cash at bank and in hand | 54/58 | €19,861 | €120,432 | +€100,571 | +506.4% |
| Deferred charges and accrued income | 490/1 | - | €2,275 | +€2,275 | |
| Total equity and liabilities | 10/49 | €350,082 | €414,675 | +€64,592 | +18.5% |
| Equity | 10/15 | €118,221 | €193,495 | +€75,274 | +63.7% |
| Contributions | 10/11 | €20,751 | €20,751 | = | 0.0% |
| Reserves | 13 | €84,675 | €159,949 | +€75,274 | +88.9% |
| Tax-exempt reserves | 132 | €11,851 | €11,237 | -€614 | -5.2% |
| Distributable reserves | 133 | €72,824 | €148,712 | +€75,888 | +104.2% |
| Profit (loss) carried forward | 14 | €12,795 | €12,795 | = | 0.0% |
| Provisions and deferred taxes | 16 | €3,950 | €3,746 | -€205 | -5.2% |
| Deferred taxes | 168 | €3,950 | €3,746 | -€205 | -5.2% |
| Amounts payable | 17/49 | €227,911 | €217,434 | -€10,477 | -4.6% |
| Amounts payable after more than one year | 17 | €87,686 | €67,231 | -€20,454 | -23.3% |
| Financial debts | 170/4 | €87,686 | €67,231 | -€20,454 | -23.3% |
| Amounts payable within one year | 42/48 | €140,168 | €150,202 | +€10,034 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €20,093 | €22,121 | +€2,028 | +10.1% |
| Trade debts | 44 | €1,969 | €2,543 | +€574 | +29.2% |
| Suppliers | 440/4 | €1,969 | €2,543 | +€574 | +29.2% |
| Taxes, remuneration and social security | 45 | €1,660 | €9,165 | +€7,505 | +452.0% |
| Taxes | 450/3 | €1,393 | €9,165 | +€7,772 | +558.0% |
| Remuneration and social security | 454/9 | €268 | - | -€268 | |
| Other amounts payable | 47/48 | €116,446 | €116,373 | -€73 | -0.1% |
| Accrued charges and deferred income | 492/3 | €57 | €0 | -€56 | -99.7% |
| Non-recurring operating income | 76A | - | €941 | +€941 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,293 | €13,953 | -€2,340 | -14.4% |
| Other operating charges | 640/8 | €5,671 | €5,091 | -€580 | -10.2% |
| Non-recurring operating charges | 66A | €267 | - | -€267 | |
| Gross operating margin | 9900 | €44,028 | €132,284 | +€88,256 | +200.5% |
| Operating profit (loss) | 9901 | €21,797 | €113,240 | +€91,443 | +419.5% |
| Financial charges | 65/66B | €2,516 | €2,137 | -€379 | -15.1% |
| Recurring financial charges | 65 | €2,516 | €2,137 | -€379 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €19,281 | €111,103 | +€91,823 | +476.2% |
| Transfer from deferred taxes | 780 | €205 | €205 | = | 0.0% |
| Income taxes | 67/77 | €6,498 | €36,034 | +€29,536 | +454.5% |
| Profit (loss) for the period | 9904 | €12,987 | €75,274 | +€62,287 | +479.6% |
| Transfer from tax-exempt reserves | 789 | €614 | €614 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,602 | €75,888 | +€62,287 | +457.9% |
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 1 October 2026 via checked.be.