IMMOTEX: 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.
IMMOTEX
Largest movements
- Current investments -€500,000
no longer reported in 2025 (was €500,000)
- Tangible fixed assets +€315,357
up €315,357 (+13.4%), from €2.4m to €2.7m
of which Land and buildings: +€359,496
- Cash +€226,877
up €226,877 (+179.6%), from €126,324 to €353,201
mainly Current investments (+€500,000) and Depreciation (+€207,742)
- Other debts +€204,986
up €204,986 (+7121.3%), from €2,878 to €207,864
- Profit (loss) carried forward -€137,038
down €137,038 (-96.8%), from €141,516 to €4,477
- Debts after one year +€92,216
up €92,216 (+6.5%), from €1.4m to €1.5m
of which Financial debts: +€88,166
- Reserves -€38,087
down €38,087 (-4.4%), from €864,528 to €826,441
of which Tax-exempt reserves: -€41,587
- Other operating charges -€37,222
down €37,222 (-87.7%), from €42,426 to €5,203
- Depreciation +€33,084
up €33,084 (+18.9%), from €174,658 to €207,742
- Taxes -€7,548
down €7,548 (-15.0%), from €50,461 to €42,914
- Financial income -€6,976
down €6,976 (-31.5%), from €22,165 to €15,189
- Gross operating margin -€6,440
down €6,440 (-2.0%), from €318,114 to €311,675
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 | €3,582,829 | €3,661,438 | +€78,610 | +2.2% |
| Fixed assets | 21/28 | €2,359,319 | €2,674,676 | +€315,357 | +13.4% |
| Tangible fixed assets | 22/27 | €2,358,385 | €2,673,742 | +€315,357 | +13.4% |
| Land and buildings | 22 | €2,176,672 | €2,536,168 | +€359,496 | +16.5% |
| Plant, machinery and equipment | 23 | €167,926 | €120,374 | -€47,552 | -28.3% |
| Furniture and vehicles | 24 | €13,787 | €17,201 | +€3,413 | +24.8% |
| Financial fixed assets | 28 | €933 | €933 | = | 0.0% |
| Current assets | 29/58 | €1,223,510 | €986,763 | -€236,747 | -19.3% |
| Stocks and contracts in progress | 3 | €44,699 | €44,817 | +€118 | +0.3% |
| Stocks | 30/36 | €44,699 | €44,817 | +€118 | +0.3% |
| Amounts receivable within one year | 40/41 | €546,704 | €581,336 | +€34,633 | +6.3% |
| Trade receivables | 40 | €25,260 | €22,089 | -€3,171 | -12.6% |
| Other amounts receivable | 41 | €521,444 | €559,247 | +€37,804 | +7.2% |
| Current investments | 50/53 | €500,000 | - | -€500,000 | |
| Cash at bank and in hand | 54/58 | €126,324 | €353,201 | +€226,877 | +179.6% |
| Deferred charges and accrued income | 490/1 | €5,783 | €7,408 | +€1,625 | +28.1% |
| Total equity and liabilities | 10/49 | €3,582,829 | €3,661,438 | +€78,610 | +2.2% |
| Equity | 10/15 | €1,724,935 | €1,549,810 | -€175,125 | -10.2% |
| Contributions | 10/11 | €718,891 | €718,891 | = | 0.0% |
| Capital | 10 | €718,891 | €718,891 | = | 0.0% |
| Issued capital | 100 | €718,891 | €718,891 | = | 0.0% |
| Reserves | 13 | €864,528 | €826,441 | -€38,087 | -4.4% |
| Non-distributable reserves | 130/1 | €50,500 | €54,000 | +€3,500 | +6.9% |
| Legal reserve | 130 | €50,500 | €54,000 | +€3,500 | +6.9% |
| Tax-exempt reserves | 132 | €814,028 | €772,441 | -€41,587 | -5.1% |
| Profit (loss) carried forward | 14 | €141,516 | €4,477 | -€137,038 | -96.8% |
| Provisions and deferred taxes | 16 | €271,343 | €257,480 | -€13,862 | -5.1% |
| Deferred taxes | 168 | €271,343 | €257,480 | -€13,862 | -5.1% |
| Amounts payable | 17/49 | €1,586,550 | €1,854,148 | +€267,597 | +16.9% |
| Amounts payable after more than one year | 17 | €1,420,155 | €1,512,371 | +€92,216 | +6.5% |
| Financial debts | 170/4 | €859,755 | €947,921 | +€88,166 | +10.3% |
| Other amounts payable | 178/9 | €560,400 | €564,450 | +€4,050 | +0.7% |
| Amounts payable within one year | 42/48 | €151,840 | €330,921 | +€179,082 | +117.9% |
| Current portion of amounts payable after more than one year | 42 | €100,739 | €109,525 | +€8,786 | +8.7% |
| Financial debts | 43 | €20,317 | - | -€20,317 | |
| Credit institutions | 430/8 | €20,317 | - | -€20,317 | |
| Trade debts | 44 | €24,567 | €10,037 | -€14,530 | -59.1% |
| Suppliers | 440/4 | €24,567 | €10,037 | -€14,530 | -59.1% |
| Taxes, remuneration and social security | 45 | €3,338 | €3,495 | +€157 | +4.7% |
| Taxes | 450/3 | €3,338 | €3,495 | +€157 | +4.7% |
| Other amounts payable | 47/48 | €2,878 | €207,864 | +€204,986 | +7121.3% |
| Accrued charges and deferred income | 492/3 | €14,556 | €10,856 | -€3,701 | -25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €174,658 | €207,742 | +€33,084 | +18.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,760 | +€2,760 | |
| Other operating charges | 640/8 | €42,426 | €5,203 | -€37,222 | -87.7% |
| Gross operating margin | 9900 | €318,114 | €311,675 | -€6,440 | -2.0% |
| Operating profit (loss) | 9901 | €101,031 | €95,969 | -€5,062 | -5.0% |
| Financial income | 75/76B | €22,165 | €15,189 | -€6,976 | -31.5% |
| Recurring financial income | 75 | €22,165 | €15,189 | -€6,976 | -31.5% |
| Financial charges | 65/66B | €61,929 | €57,232 | -€4,697 | -7.6% |
| Recurring financial charges | 65 | €61,929 | €57,232 | -€4,697 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €61,267 | €53,926 | -€7,341 | -12.0% |
| Transfer from deferred taxes | 780 | €13,211 | €13,862 | +€651 | +4.9% |
| Income taxes | 67/77 | €50,461 | €42,914 | -€7,548 | -15.0% |
| Profit (loss) for the period | 9904 | €24,016 | €24,875 | +€858 | +3.6% |
| Transfer from tax-exempt reserves | 789 | €39,633 | €41,587 | +€1,954 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €63,649 | €66,462 | +€2,813 | +4.4% |
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 7 October 2026 via checked.be.