Immothe: 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.
Immothe
Largest movements
- Financial fixed assets +€446,830
up €446,830 (+31.0%), from €1.4m to €1.9m
- Receivables within one year -€251,239
down €251,239 (-97.2%), from €258,371 to €7,132
- Cash -€86,794
down €86,794 (-56.1%), from €154,737 to €67,943
mainly Investment in fixed assets (net) (-€446,830) and Smaller working-capital items (-€152)
- Tangible fixed assets -€71,155
down €71,155 (-7.3%), from €975,830 to €904,675
of which Land and buildings: -€62,690
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€12,147
down €12,147 (-6.6%), from €184,058 to €171,911
- Other operating charges +€2,268
up €2,268 (+3.4%), from €67,547 to €69,814
- Taxes +€1,919
up €1,919 (+15.4%), from €12,495 to €14,413
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 | €2,828,025 | €2,865,668 | +€37,642 | +1.3% |
| Fixed assets | 21/28 | €2,414,918 | €2,790,593 | +€375,676 | +15.6% |
| Tangible fixed assets | 22/27 | €975,830 | €904,675 | -€71,155 | -7.3% |
| Land and buildings | 22 | €931,701 | €869,012 | -€62,690 | -6.7% |
| Other tangible fixed assets | 26 | €44,128 | €35,663 | -€8,465 | -19.2% |
| Financial fixed assets | 28 | €1,439,088 | €1,885,918 | +€446,830 | +31.0% |
| Current assets | 29/58 | €413,108 | €75,075 | -€338,033 | -81.8% |
| Amounts receivable within one year | 40/41 | €258,371 | €7,132 | -€251,239 | -97.2% |
| Trade receivables | 40 | €258,371 | €7,132 | -€251,239 | -97.2% |
| Cash at bank and in hand | 54/58 | €154,737 | €67,943 | -€86,794 | -56.1% |
| Total equity and liabilities | 10/49 | €2,828,025 | €2,865,668 | +€37,642 | +1.3% |
| Equity | 10/15 | €2,795,632 | €2,812,513 | +€16,882 | +0.6% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €2,685,632 | €2,702,513 | +€16,882 | +0.6% |
| Non-distributable reserves | 130/1 | €18,852 | €18,852 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,852 | €18,852 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,123 | €33,941 | -€1,181 | -3.4% |
| Distributable reserves | 133 | €2,631,657 | €2,649,720 | +€18,063 | +0.7% |
| Provisions and deferred taxes | 16 | €11,708 | €11,314 | -€394 | -3.4% |
| Deferred taxes | 168 | €11,708 | €11,314 | -€394 | -3.4% |
| Amounts payable | 17/49 | €20,686 | €41,840 | +€21,155 | +102.3% |
| Amounts payable within one year | 42/48 | €20,686 | €35,856 | +€15,171 | +73.3% |
| Trade debts | 44 | - | €5,941 | +€5,941 | |
| Suppliers | 440/4 | - | €5,941 | +€5,941 | |
| Taxes, remuneration and social security | 45 | €13,800 | €22,788 | +€8,988 | +65.1% |
| Taxes | 450/3 | €13,800 | €22,788 | +€8,988 | +65.1% |
| Other amounts payable | 47/48 | €6,886 | €7,127 | +€241 | +3.5% |
| Accrued charges and deferred income | 492/3 | - | €5,984 | +€5,984 | |
| Non-recurring operating income | 76A | - | €6,886 | +€6,886 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,297 | €71,155 | -€143 | -0.2% |
| Other operating charges | 640/8 | €67,547 | €69,814 | +€2,268 | +3.4% |
| Gross operating margin | 9900 | €184,058 | €171,911 | -€12,147 | -6.6% |
| Operating profit (loss) | 9901 | €45,214 | €30,941 | -€14,273 | -31.6% |
| Financial charges | 65/66B | €44 | €40 | -€3 | -7.1% |
| Recurring financial charges | 65 | €44 | €40 | -€3 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €45,170 | €30,901 | -€14,269 | -31.6% |
| Transfer from deferred taxes | 780 | €394 | €394 | = | 0.0% |
| Income taxes | 67/77 | €12,495 | €14,413 | +€1,919 | +15.4% |
| Profit (loss) for the period | 9904 | €33,070 | €16,882 | -€16,188 | -49.0% |
| Transfer from tax-exempt reserves | 789 | €1,181 | €1,181 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,251 | €18,063 | -€16,188 | -47.3% |
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 11 October 2026 via checked.be.