IMMOTIL: 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
IMMOTIL
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€11,216
2024 · €1.3m-€1.3m
Equity
€2.1m
2024 · €2.1m-€2,784
Cash
€984,238
2024 · €1.1m-€144,139
Balance sheet total
€2.6m
2024 · €2.5m+€103,944
Largest movements
Assets
- Tangible fixed assets +€233,015
up €233,015 (+46.5%), from €501,131 to €734,147
of which Land and buildings: +€286,078
- Cash -€144,139
down €144,139 (-12.8%), from €1.1m to €984,238
mainly Investment in fixed assets (net) (-€317,672) and Contributions, distributions and other (-€14,000)
Equity and liabilities
- Debts after one year +€87,972
new in 2025: €87,972
Income statement
- Financial income -€1.8m
down €1.8m (-100.0%), from €1.8m to €316
of which Non-recurring financial income: -€1.8m
- Taxes -€320,105
down €320,105 (-97.5%), from €328,378 to €8,274
- Gross operating margin +€70,097
up €70,097 (+154.0%), from €45,529 to €115,626
- Depreciation +€54,551
up €54,551 (+177.9%), from €30,656 to €85,207
- Financial charges +€5,712
up €5,712 (+1183.0%), from €483 to €6,195
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
€1.3m
Gross operating margin
+€70,097
Depreciation
-€54,551
Other operating charges
-€803
Financial income
-€1.8m
Financial charges
-€5,712
Taxes
+€320,105
Deferred taxes and other
+€114,492
Result 2025
€11,216
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
+€91,006
Investment
-€317,672
Financing
+€82,527
Cash 2024
€1.1m
From operations (derived)
+€91,006
Net result for the year
+€11,216
Depreciation
+€85,207
Receivables within one year
-€10,645
Deferred charges and accrued income
-€4,972
Provisions
-€1,176
Trade debts
+€3,715
Tax, wage and social debts
-€3,585
Other debts
+€10,433
Accrued charges and deferred income
+€814
Investment (derived)
-€317,672
Investment in fixed assets (net)
-€317,672
Financing
+€82,527
Debts after one year
+€87,972
Current portion of long-term debt
+€8,555
Contributions, distributions and other
-€14,000
Cash 2025
€984,238
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,473,881 | €2,577,825 | +€103,944 | +4.2% |
| Fixed assets | 21/28 | €501,681 | €734,147 | +€232,465 | +46.3% |
| Tangible fixed assets | 22/27 | €501,131 | €734,147 | +€233,015 | +46.5% |
| Land and buildings | 22 | €350,787 | €636,865 | +€286,078 | +81.6% |
| Plant, machinery and equipment | 23 | €150,344 | €97,281 | -€53,063 | -35.3% |
| Financial fixed assets | 28 | €550 | €0 | -€550 | -100.0% |
| Current assets | 29/58 | €1,972,200 | €1,843,678 | -€128,522 | -6.5% |
| Amounts receivable within one year | 40/41 | €842,731 | €853,376 | +€10,645 | +1.3% |
| Trade receivables | 40 | €2,049 | €6,668 | +€4,619 | +225.4% |
| Other amounts receivable | 41 | €840,682 | €846,708 | +€6,026 | +0.7% |
| Cash at bank and in hand | 54/58 | €1,128,377 | €984,238 | -€144,139 | -12.8% |
| Deferred charges and accrued income | 490/1 | €1,092 | €6,064 | +€4,972 | +455.3% |
| Total equity and liabilities | 10/49 | €2,473,881 | €2,577,825 | +€103,944 | +4.2% |
| Equity | 10/15 | €2,121,529 | €2,118,745 | -€2,784 | -0.1% |
| Contributions | 10/11 | €359,446 | €359,446 | = | 0.0% |
| Capital | 10 | €359,446 | €359,446 | = | 0.0% |
| Issued capital | 100 | €359,446 | €359,446 | = | 0.0% |
| Reserves | 13 | €473,013 | €484,229 | +€11,216 | +2.4% |
| Non-distributable reserves | 130/1 | €35,945 | €35,945 | = | 0.0% |
| Legal reserve | 130 | €35,945 | €35,945 | = | 0.0% |
| Tax-exempt reserves | 132 | €437,068 | €433,540 | -€3,528 | -0.8% |
| Distributable reserves | 133 | - | €14,744 | +€14,744 | |
| Profit (loss) carried forward | 14 | €1,289,070 | €1,275,070 | -€14,000 | -1.1% |
| Provisions and deferred taxes | 16 | €145,689 | €144,513 | -€1,176 | -0.8% |
| Deferred taxes | 168 | €145,689 | €144,513 | -€1,176 | -0.8% |
| Amounts payable | 17/49 | €206,663 | €314,567 | +€107,904 | +52.2% |
| Amounts payable after more than one year | 17 | - | €87,972 | +€87,972 | |
| Financial debts | 170/4 | - | €87,972 | +€87,972 | |
| Amounts payable within one year | 42/48 | €204,113 | €223,231 | +€19,118 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | €8,555 | +€8,555 | |
| Trade debts | 44 | €168,946 | €172,661 | +€3,715 | +2.2% |
| Suppliers | 440/4 | €168,946 | €172,661 | +€3,715 | +2.2% |
| Taxes, remuneration and social security | 45 | €5,308 | €1,724 | -€3,585 | -67.5% |
| Taxes | 450/3 | €5,308 | €1,724 | -€3,585 | -67.5% |
| Other amounts payable | 47/48 | €29,859 | €40,292 | +€10,433 | +34.9% |
| Accrued charges and deferred income | 492/3 | €2,550 | €3,364 | +€814 | +31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,656 | €85,207 | +€54,551 | +177.9% |
| Other operating charges | 640/8 | €5,423 | €6,227 | +€803 | +14.8% |
| Gross operating margin | 9900 | €45,529 | €115,626 | +€70,097 | +154.0% |
| Operating profit (loss) | 9901 | €9,450 | €24,193 | +€14,743 | +156.0% |
| Financial income | 75/76B | €1,752,109 | €316 | -€1.8m | -100.0% |
| Recurring financial income | 75 | €3 | €316 | +€313 | +9009.2% |
| Non-recurring financial income | 76B | €1,752,105 | €0 | -€1.8m | -100.0% |
| Financial charges | 65/66B | €483 | €6,195 | +€5,712 | +1183.0% |
| Recurring financial charges | 65 | €483 | €6,195 | +€5,712 | +1183.0% |
| Profit (loss) for the period before taxes | 9903 | €1,761,076 | €18,314 | -€1.7m | -99.0% |
| Transfer from deferred taxes | 780 | €465 | €1,176 | +€711 | +152.7% |
| Transfer to deferred taxes | 680 | €113,782 | €0 | -€113,782 | -100.0% |
| Income taxes | 67/77 | €328,378 | €8,274 | -€320,105 | -97.5% |
| Profit (loss) for the period | 9904 | €1,319,381 | €11,216 | -€1.3m | -99.1% |
| Transfer from tax-exempt reserves | 789 | €1,396 | €3,528 | +€2,132 | +152.7% |
| Transfer to tax-exempt reserves | 689 | €341,345 | €0 | -€341,345 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €979,432 | €14,744 | -€964,688 | -98.5% |
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 29 September 2026 via checked.be.