IMMOSAL: 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.
IMMOSAL
Largest movements
- Tangible fixed assets -€28,358
down €28,358 (-7.1%), from €397,442 to €369,083
- Cash +€22,287
up €22,287 (+88.6%), from €25,145 to €47,433
mainly Depreciation (+€28,484) and Net result for the year (+€17,999)
- Receivables within one year +€6,535
up €6,535 (+370%), from €1,765 to €8,300
of which Trade receivables: +€8,263
- Debts after one year -€32,507
down €32,507 (-10.8%), from €301,094 to €268,587
- Profit (loss) carried forward +€17,999
up €17,999 (+27.1%), from €66,441 to €84,440
- Trade debts +€13,237
up €13,237 (+408%), from €3,248 to €16,484
- Gross operating margin +€870
up €870 (+1.4%), from €64,153 to €65,023
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 | €426,878 | €426,586 | -€292 | -0.1% |
| Fixed assets | 21/28 | €397,945 | €369,461 | -€28,484 | -7.2% |
| Intangible fixed assets | 21 | €503 | €377 | -€126 | -25.0% |
| Tangible fixed assets | 22/27 | €397,442 | €369,083 | -€28,358 | -7.1% |
| Other tangible fixed assets | 26 | €397,442 | €369,083 | -€28,358 | -7.1% |
| Current assets | 29/58 | €28,933 | €57,125 | +€28,192 | +97.4% |
| Amounts receivable within one year | 40/41 | €1,765 | €8,300 | +€6,535 | +370% |
| Trade receivables | 40 | €37 | €8,300 | +€8,263 | +22,357% |
| Other amounts receivable | 41 | €1,728 | - | -€1,728 | |
| Cash at bank and in hand | 54/58 | €25,145 | €47,433 | +€22,287 | +88.6% |
| Deferred charges and accrued income | 490/1 | €2,023 | €1,393 | -€630 | -31.2% |
| Total equity and liabilities | 10/49 | €426,878 | €426,586 | -€292 | -0.1% |
| Equity | 10/15 | €88,935 | €106,934 | +€17,999 | +20.2% |
| Contributions | 10/11 | €22,494 | €22,494 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,441 | €84,440 | +€17,999 | +27.1% |
| Amounts payable | 17/49 | €337,943 | €319,652 | -€18,291 | -5.4% |
| Amounts payable after more than one year | 17 | €301,094 | €268,587 | -€32,507 | -10.8% |
| Financial debts | 170/4 | €301,094 | €268,587 | -€32,507 | -10.8% |
| Amounts payable within one year | 42/48 | €36,849 | €51,065 | +€14,216 | +38.6% |
| Current portion of amounts payable after more than one year | 42 | €31,883 | €32,507 | +€624 | +2.0% |
| Trade debts | 44 | €3,248 | €16,484 | +€13,237 | +408% |
| Suppliers | 440/4 | €3,248 | €16,484 | +€13,237 | +408% |
| Taxes, remuneration and social security | 45 | €1,718 | €2,073 | +€355 | +20.7% |
| Taxes | 450/3 | €1,718 | €2,073 | +€355 | +20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,484 | €28,484 | = | 0.0% |
| Other operating charges | 640/8 | €5,711 | €5,883 | +€173 | +3.0% |
| Gross operating margin | 9900 | €64,153 | €65,023 | +€870 | +1.4% |
| Operating profit (loss) | 9901 | €29,958 | €30,656 | +€697 | +2.3% |
| Financial charges | 65/66B | €7,215 | €6,595 | -€620 | -8.6% |
| Recurring financial charges | 65 | €7,215 | €6,595 | -€620 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €22,744 | €24,060 | +€1,317 | +5.8% |
| Income taxes | 67/77 | €5,718 | €6,061 | +€343 | +6.0% |
| Profit (loss) for the period | 9904 | €17,026 | €17,999 | +€973 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,026 | €17,999 | +€973 | +5.7% |
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.