IMMOSAD: 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.
IMMOSAD
Largest movements
- Cash +€11,410
up €11,410 (+18.3%), from €62,196 to €73,605
mainly Net result for the year (+€28,155) and Depreciation (+€8,763)
- Tangible fixed assets -€8,763
down €8,763 (-11.3%), from €77,477 to €68,714
of which Land and buildings: -€6,496
- Receivables within one year -€5,992
down €5,992 (-100.0%), from €5,992 to €0
- Reserves -€7,995
down €7,995 (-4.9%), from €164,498 to €156,503
- Other debts +€2,791
up €2,791 (+94.7%), from €2,947 to €5,738
- Gross operating margin +€9,285
up €9,285 (+22.6%), from €41,171 to €50,456
- Taxes +€3,513
up €3,513 (+36.5%), from €9,626 to €13,139
- Financial income +€1,728
up €1,728 (+667.6%), from €259 to €1,987
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 | €200,350 | €196,756 | -€3,594 | -1.8% |
| Fixed assets | 21/28 | €77,477 | €68,714 | -€8,763 | -11.3% |
| Tangible fixed assets | 22/27 | €77,477 | €68,714 | -€8,763 | -11.3% |
| Land and buildings | 22 | €68,577 | €62,081 | -€6,496 | -9.5% |
| Plant, machinery and equipment | 23 | €8,900 | €6,633 | -€2,267 | -25.5% |
| Current assets | 29/58 | €122,873 | €128,043 | +€5,170 | +4.2% |
| Amounts receivable within one year | 40/41 | €5,992 | €0 | -€5,992 | -100.0% |
| Other amounts receivable | 41 | €5,992 | €0 | -€5,992 | -100.0% |
| Current investments | 50/53 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €62,196 | €73,605 | +€11,410 | +18.3% |
| Deferred charges and accrued income | 490/1 | €4,685 | €4,437 | -€248 | -5.3% |
| Total equity and liabilities | 10/49 | €200,350 | €196,756 | -€3,594 | -1.8% |
| Equity | 10/15 | €195,340 | €187,345 | -€7,995 | -4.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €164,498 | €156,503 | -€7,995 | -4.9% |
| Distributable reserves | 133 | €164,498 | €156,503 | -€7,995 | -4.9% |
| Profit (loss) carried forward | 14 | €12,242 | €12,242 | = | 0.0% |
| Amounts payable | 17/49 | €5,010 | €9,412 | +€4,402 | +87.9% |
| Amounts payable within one year | 42/48 | €5,010 | €9,412 | +€4,402 | +87.9% |
| Taxes, remuneration and social security | 45 | €2,063 | €3,674 | +€1,611 | +78.1% |
| Taxes | 450/3 | €2,063 | €3,674 | +€1,611 | +78.1% |
| Other amounts payable | 47/48 | €2,947 | €5,738 | +€2,791 | +94.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,863 | €8,763 | -€100 | -1.1% |
| Other operating charges | 640/8 | €2,180 | €2,236 | +€56 | +2.6% |
| Gross operating margin | 9900 | €41,171 | €50,456 | +€9,285 | +22.6% |
| Operating profit (loss) | 9901 | €30,128 | €39,456 | +€9,328 | +31.0% |
| Financial income | 75/76B | €259 | €1,987 | +€1,728 | +667.6% |
| Recurring financial income | 75 | €259 | €1,987 | +€1,728 | +667.6% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €30,252 | €41,293 | +€11,041 | +36.5% |
| Income taxes | 67/77 | €9,626 | €13,139 | +€3,513 | +36.5% |
| Profit (loss) for the period | 9904 | €20,626 | €28,155 | +€7,528 | +36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,626 | €28,155 | +€7,528 | +36.5% |
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 5 October 2026 via checked.be.