IMMOSIN: 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.
IMMOSIN
Largest movements
- Stocks and contracts +€1.2m
up €1.2m (+65.1%), from €1.8m to €3.0m
- Tangible fixed assets -€227,212
down €227,212 (-8.3%), from €2.7m to €2.5m
of which Land and buildings: -€217,370
- Receivables within one year +€142,408
up €142,408 (+6,872%), from €2,072 to €144,480
of which Other amounts receivable: +€104,595
- Cash +€99,292
up €99,292 (+2,848%), from €3,486 to €102,778
mainly Debts after one year (+€1.2m) and Net result for the year (+€475,609)
- Debts after one year +€1.2m
up €1.2m (+51.4%), from €2.4m to €3.6m
of which Financial debts: +€1.3m
- Reserves +€475,609
up €475,609 (+62.9%), from €755,622 to €1.2m
of which Tax-exempt reserves: +€489,848
- Revaluation surpluses -€330,000
down €330,000 (-50.0%), from €660,000 to €330,000
- Short-term financial debts -€184,000
down €184,000 (-81.8%), from €225,000 to €41,000
- Provisions +€163,283
up €163,283 (+1,545%), from €10,571 to €173,853
- Gross operating margin +€827,366
up €827,366 (+780%), from €106,099 to €933,465
- Financial charges +€42,337
up €42,337 (+61.3%), from €69,087 to €111,425
- Other operating charges +€36,265
up €36,265 (+82.6%), from €43,881 to €80,146
- Depreciation +€22,085
up €22,085 (+26.6%), from €82,916 to €105,002
- Financial income +€11,769
up €11,769 (+16,611%), from €71 to €11,840
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 | €4,621,581 | €5,825,547 | +€1.2m | +26.1% |
| Fixed assets | 21/28 | €2,731,956 | €2,504,744 | -€227,212 | -8.3% |
| Tangible fixed assets | 22/27 | €2,731,956 | €2,504,744 | -€227,212 | -8.3% |
| Land and buildings | 22 | €2,649,396 | €2,432,026 | -€217,370 | -8.2% |
| Plant, machinery and equipment | 23 | €45,135 | €42,000 | -€3,135 | -6.9% |
| Furniture and vehicles | 24 | €37,426 | €30,718 | -€6,707 | -17.9% |
| Current assets | 29/58 | €1,889,625 | €3,320,803 | +€1.4m | +75.7% |
| Stocks and contracts in progress | 3 | €1,833,202 | €3,027,304 | +€1.2m | +65.1% |
| Stocks | 30/36 | €1,833,202 | €3,027,304 | +€1.2m | +65.1% |
| Amounts receivable within one year | 40/41 | €2,072 | €144,480 | +€142,408 | +6,872% |
| Trade receivables | 40 | €1,845 | €39,658 | +€37,813 | +2,049% |
| Other amounts receivable | 41 | €227 | €104,822 | +€104,595 | +46,067% |
| Current investments | 50/53 | €43,061 | €43,061 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,486 | €102,778 | +€99,292 | +2,848% |
| Deferred charges and accrued income | 490/1 | €7,804 | €3,180 | -€4,624 | -59.3% |
| Total equity and liabilities | 10/49 | €4,621,581 | €5,825,547 | +€1.2m | +26.1% |
| Equity | 10/15 | €1,513,212 | €1,658,821 | +€145,609 | +9.6% |
| Contributions | 10/11 | €97,591 | €97,591 | = | 0.0% |
| Capital | 10 | €97,591 | €97,591 | = | 0.0% |
| Issued capital | 100 | €97,591 | €97,591 | = | 0.0% |
| Revaluation surpluses | 12 | €660,000 | €330,000 | -€330,000 | -50.0% |
| Reserves | 13 | €755,622 | €1,231,231 | +€475,609 | +62.9% |
| Non-distributable reserves | 130/1 | €52,820 | €52,820 | = | 0.0% |
| Legal reserve | 130 | €9,759 | €9,759 | = | 0.0% |
| Own shares acquired | 1312 | €43,061 | €43,061 | = | 0.0% |
| Tax-exempt reserves | 132 | €31,712 | €521,560 | +€489,848 | +1,545% |
| Distributable reserves | 133 | €671,090 | €656,851 | -€14,239 | -2.1% |
| Provisions and deferred taxes | 16 | €10,571 | €173,853 | +€163,283 | +1,545% |
| Deferred taxes | 168 | €10,571 | €173,853 | +€163,283 | +1,545% |
| Amounts payable | 17/49 | €3,097,798 | €3,992,872 | +€895,074 | +28.9% |
| Amounts payable after more than one year | 17 | €2,393,024 | €3,623,374 | +€1.2m | +51.4% |
| Financial debts | 170/4 | €1,629,370 | €2,881,720 | +€1.3m | +76.9% |
| Other amounts payable | 178/9 | €763,654 | €741,654 | -€22,000 | -2.9% |
| Amounts payable within one year | 42/48 | €685,174 | €350,930 | -€334,244 | -48.8% |
| Current portion of amounts payable after more than one year | 42 | €134,652 | €142,762 | +€8,110 | +6.0% |
| Financial debts | 43 | €225,000 | €41,000 | -€184,000 | -81.8% |
| Credit institutions | 430/8 | €225,000 | €41,000 | -€184,000 | -81.8% |
| Trade debts | 44 | €69,856 | €12,599 | -€57,257 | -82.0% |
| Suppliers | 440/4 | €69,856 | €12,599 | -€57,257 | -82.0% |
| Taxes, remuneration and social security | 45 | €54,665 | €33,985 | -€20,680 | -37.8% |
| Taxes | 450/3 | €54,665 | €33,985 | -€20,680 | -37.8% |
| Other amounts payable | 47/48 | €201,002 | €120,583 | -€80,418 | -40.0% |
| Accrued charges and deferred income | 492/3 | €19,600 | €18,568 | -€1,032 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,916 | €105,002 | +€22,085 | +26.6% |
| Other operating charges | 640/8 | €43,881 | €80,146 | +€36,265 | +82.6% |
| Gross operating margin | 9900 | €106,099 | €933,465 | +€827,366 | +780% |
| Operating profit (loss) | 9901 | -€20,698 | €748,318 | +€769,016 | |
| Financial income | 75/76B | €71 | €11,840 | +€11,769 | +16,611% |
| Recurring financial income | 75 | €71 | €11,840 | +€11,769 | +16,611% |
| Financial charges | 65/66B | €69,087 | €111,425 | +€42,337 | +61.3% |
| Recurring financial charges | 65 | €69,087 | €111,425 | +€42,337 | +61.3% |
| Profit (loss) for the period before taxes | 9903 | -€89,714 | €648,733 | +€738,447 | |
| Transfer from deferred taxes | 780 | €33,149 | €5,717 | -€27,431 | -82.8% |
| Transfer to deferred taxes | 680 | - | €169,000 | +€169,000 | |
| Income taxes | 67/77 | €6,945 | €9,841 | +€2,896 | +41.7% |
| Profit (loss) for the period | 9904 | -€63,511 | €475,609 | +€539,120 | |
| Transfer from tax-exempt reserves | 789 | €99,446 | €17,152 | -€82,294 | -82.8% |
| Transfer to tax-exempt reserves | 689 | - | €507,000 | +€507,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,935 | -€14,239 | -€50,174 |
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 20 October 2026 via checked.be.