IMMOSAN: 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.
IMMOSAN
Largest movements
- Tangible fixed assets -€45,192
down €45,192 (-3.9%), from €1.2m to €1.1m
of which Land and buildings: -€43,359
- Debts after one year -€52,190
down €52,190 (-13.3%), from €391,269 to €339,079
of which Financial debts: -€52,190
- Other debts -€43,258
down €43,258 (-19.6%), from €221,231 to €177,973
- Reserves +€40,241
up €40,241 (+15.2%), from €265,479 to €305,720
of which Distributable reserves: +€40,241
- Trade debts +€16,863
up €16,863 (+466%), from €3,620 to €20,483
- Gross operating margin -€19,997
down €19,997 (-12.0%), from €166,734 to €146,737
- Financial charges -€6,834
down €6,834 (-24.1%), from €28,319 to €21,485
- Taxes -€3,868
down €3,868 (-17.4%), from €22,253 to €18,385
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 | €1,203,250 | €1,169,492 | -€33,758 | -2.8% |
| Fixed assets | 21/28 | €1,164,020 | €1,118,828 | -€45,192 | -3.9% |
| Tangible fixed assets | 22/27 | €1,164,020 | €1,118,828 | -€45,192 | -3.9% |
| Land and buildings | 22 | €1,160,027 | €1,116,668 | -€43,359 | -3.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,993 | €2,160 | -€1,833 | -45.9% |
| Current assets | 29/58 | €39,230 | €50,665 | +€11,435 | +29.1% |
| Amounts receivable within one year | 40/41 | €4,905 | €12,525 | +€7,620 | +155% |
| Trade receivables | 40 | €4,905 | €10,257 | +€5,352 | +109% |
| Other amounts receivable | 41 | - | €2,267 | +€2,267 | |
| Cash at bank and in hand | 54/58 | €30,827 | €33,565 | +€2,738 | +8.9% |
| Deferred charges and accrued income | 490/1 | €3,498 | €4,575 | +€1,077 | +30.8% |
| Total equity and liabilities | 10/49 | €1,203,250 | €1,169,492 | -€33,758 | -2.8% |
| Equity | 10/15 | €467,692 | €506,267 | +€38,575 | +8.2% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Capital | 10 | €110,000 | €110,000 | = | 0.0% |
| Issued capital | 100 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €265,479 | €305,720 | +€40,241 | +15.2% |
| Non-distributable reserves | 130/1 | €26,910 | €26,910 | = | 0.0% |
| Legal reserve | 130 | €26,910 | €26,910 | = | 0.0% |
| Distributable reserves | 133 | €238,569 | €278,810 | +€40,241 | +16.9% |
| Profit (loss) carried forward | 14 | €92,213 | €90,547 | -€1,666 | -1.8% |
| Amounts payable | 17/49 | €735,558 | €663,225 | -€72,333 | -9.8% |
| Amounts payable after more than one year | 17 | €391,269 | €339,079 | -€52,190 | -13.3% |
| Financial debts | 170/4 | €365,269 | €313,079 | -€52,190 | -14.3% |
| Other amounts payable | 178/9 | €26,000 | €26,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €309,044 | €288,904 | -€20,140 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €71,399 | €72,190 | +€791 | +1.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,620 | €20,483 | +€16,863 | +466% |
| Suppliers | 440/4 | €3,620 | €20,483 | +€16,863 | +466% |
| Taxes, remuneration and social security | 45 | €12,794 | €18,257 | +€5,464 | +42.7% |
| Taxes | 450/3 | €12,794 | €15,257 | +€2,464 | +19.3% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €221,231 | €177,973 | -€43,258 | -19.6% |
| Accrued charges and deferred income | 492/3 | €35,245 | €35,243 | -€2 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,170 | €45,192 | +€23 | 0.0% |
| Other operating charges | 640/8 | €19,820 | €21,434 | +€1,614 | +8.1% |
| Gross operating margin | 9900 | €166,734 | €146,737 | -€19,997 | -12.0% |
| Operating profit (loss) | 9901 | €101,744 | €80,111 | -€21,634 | -21.3% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100% |
| Financial charges | 65/66B | €28,319 | €21,485 | -€6,834 | -24.1% |
| Recurring financial charges | 65 | €28,319 | €21,485 | -€6,834 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €73,429 | €58,626 | -€14,803 | -20.2% |
| Income taxes | 67/77 | €22,253 | €18,385 | -€3,868 | -17.4% |
| Profit (loss) for the period | 9904 | €51,176 | €40,241 | -€10,935 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,176 | €40,241 | -€10,935 | -21.4% |
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 17 October 2026 via checked.be.