IMMOTEB: 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.
What changed
IMMOTEB
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3,840
2024 · €15,266-€19,106
Equity
€1.3m
2024 · €1.3m-€3,840
Cash
€399,478
2024 · €268,573+€130,905
Balance sheet total
€1.4m
2024 · €1.4m-€30,968
Largest movements
Assets
- Tangible fixed assets -€162,694
down €162,694 (-15.9%), from €1.0m to €858,895
of which Land and buildings: -€162,940
- Cash +€130,905
up €130,905 (+48.7%), from €268,573 to €399,478
mainly Depreciation (+€85,116) and Investment in fixed assets (net) (+€77,578)
Equity and liabilities
- Other debts -€15,187
down €15,187 (-52.4%), from €28,981 to €13,794
Income statement
- Gross operating margin -€7,537
down €7,537 (-6.4%), from €117,110 to €109,573
- Financial charges -€1,531
down €1,531 (-44.2%), from €3,467 to €1,936
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.
Result 2024
€15,266
Gross operating margin
-€7,537
Depreciation
+€639
Other operating charges
-€535
Other operating items
-€12,973
Financial income
-€221
Financial charges
+€1,531
Taxes
-€11
Result 2025
-€3,840
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.
From operations
+€65,352
Investment
+€77,578
Financing
-€12,025
Cash 2024
€268,573
From operations (derived)
+€65,352
Net result for the year
-€3,840
Depreciation
+€85,116
Receivables within one year
+€857
Deferred charges and accrued income
-€1,677
Trade debts
-€203
Other debts
-€15,187
Accrued charges and deferred income
+€288
Investment (derived)
+€77,578
Investment in fixed assets (net)
+€77,578
Financing
-€12,025
Debts after one year
-€12,146
Current portion of long-term debt
+€121
Cash 2025
€399,478
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,382,900 | €1,351,932 | -€30,968 | -2.2% |
| Fixed assets | 21/28 | €1,021,589 | €858,895 | -€162,694 | -15.9% |
| Tangible fixed assets | 22/27 | €1,021,589 | €858,895 | -€162,694 | -15.9% |
| Land and buildings | 22 | €1,020,784 | €857,844 | -€162,940 | -16.0% |
| Plant, machinery and equipment | 23 | €260 | €890 | +€630 | +242.8% |
| Furniture and vehicles | 24 | €546 | €162 | -€384 | -70.4% |
| Current assets | 29/58 | €361,311 | €493,037 | +€131,726 | +36.5% |
| Amounts receivable within one year | 40/41 | €15,813 | €14,956 | -€857 | -5.4% |
| Trade receivables | 40 | €9,084 | €8,493 | -€591 | -6.5% |
| Other amounts receivable | 41 | €6,730 | €6,464 | -€266 | -4.0% |
| Current investments | 50/53 | €71,250 | €71,250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €268,573 | €399,478 | +€130,905 | +48.7% |
| Deferred charges and accrued income | 490/1 | €5,675 | €7,352 | +€1,677 | +29.6% |
| Total equity and liabilities | 10/49 | €1,382,900 | €1,351,932 | -€30,968 | -2.2% |
| Equity | 10/15 | €1,285,957 | €1,282,117 | -€3,840 | -0.3% |
| Contributions | 10/11 | €510,113 | €510,113 | = | 0.0% |
| Reserves | 13 | €878,179 | €878,179 | = | 0.0% |
| Non-distributable reserves | 130/1 | €26,024 | €26,024 | = | 0.0% |
| Reserves not available under the articles | 1311 | €26,024 | €26,024 | = | 0.0% |
| Tax-exempt reserves | 132 | €52,168 | €52,168 | = | 0.0% |
| Distributable reserves | 133 | €799,986 | €799,986 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,335 | -€106,175 | -€3,840 | -3.8% |
| Amounts payable | 17/49 | €96,943 | €69,815 | -€27,128 | -28.0% |
| Amounts payable after more than one year | 17 | €52,475 | €40,328 | -€12,146 | -23.1% |
| Financial debts | 170/4 | €52,475 | €40,328 | -€12,146 | -23.1% |
| Amounts payable within one year | 42/48 | €43,134 | €27,865 | -€15,269 | -35.4% |
| Current portion of amounts payable after more than one year | 42 | €12,025 | €12,146 | +€121 | +1.0% |
| Trade debts | 44 | €2,128 | €1,924 | -€203 | -9.6% |
| Suppliers | 440/4 | €2,128 | €1,924 | -€203 | -9.6% |
| Other amounts payable | 47/48 | €28,981 | €13,794 | -€15,187 | -52.4% |
| Accrued charges and deferred income | 492/3 | €1,334 | €1,622 | +€288 | +21.6% |
| Non-recurring operating income | 76A | €842 | €49 | -€792 | -94.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,755 | €85,116 | -€639 | -0.7% |
| Other operating charges | 640/8 | €13,892 | €14,427 | +€535 | +3.8% |
| Non-recurring operating charges | 66A | €299 | €13,272 | +€12,973 | +4334.4% |
| Gross operating margin | 9900 | €117,110 | €109,573 | -€7,537 | -6.4% |
| Operating profit (loss) | 9901 | €17,164 | -€3,241 | -€20,405 | |
| Financial income | 75/76B | €1,747 | €1,526 | -€221 | -12.6% |
| Recurring financial income | 75 | €1,747 | €1,526 | -€221 | -12.6% |
| Financial charges | 65/66B | €3,467 | €1,936 | -€1,531 | -44.2% |
| Recurring financial charges | 65 | €3,467 | €1,936 | -€1,531 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | €15,443 | -€3,651 | -€19,095 | |
| Income taxes | 67/77 | €177 | €189 | +€11 | +6.4% |
| Profit (loss) for the period | 9904 | €15,266 | -€3,840 | -€19,106 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,266 | -€3,840 | -€19,106 |
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 2 October 2026 via checked.be.