IMMOTOP one: 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.
IMMOTOP one
Largest movements
- Cash -€268,034
down €268,034 (-71.0%), from €377,762 to €109,728
mainly Advances received (-€245,000) and Trade debts (-€41,771)
- Receivables within one year -€54,590
down €54,590 (-37.3%), from €146,520 to €91,929
of which Trade receivables: -€62,595
- Tangible fixed assets -€22,595
down €22,595 (-3.6%), from €630,386 to €607,791
of which Land and buildings: -€20,433
- Advances received -€245,000
no longer reported in 2025 (was €245,000)
- Trade debts -€41,771
down €41,771 (-52.1%), from €80,227 to €38,456
- Debts after one year -€36,635
down €36,635 (-8.4%), from €437,686 to €401,051
- Other debts -€33,189
down €33,189 (-15.0%), from €221,859 to €188,669
- Profit (loss) carried forward +€26,520
new in 2025: €26,520
- Staff costs -€41,143
down €41,143 (-18.7%), from €220,298 to €179,155
- Other operating charges +€32,270
up €32,270 (+713%), from €4,528 to €36,798
- Gross operating margin -€26,026
down €26,026 (-8.1%), from €321,839 to €295,813
- Depreciation -€11,416
down €11,416 (-28.3%), from €40,378 to €28,963
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 | €1,158,618 | €812,712 | -€345,906 | -29.9% |
| Fixed assets | 21/28 | €630,749 | €608,154 | -€22,595 | -3.6% |
| Tangible fixed assets | 22/27 | €630,386 | €607,791 | -€22,595 | -3.6% |
| Land and buildings | 22 | €625,695 | €605,262 | -€20,433 | -3.3% |
| Furniture and vehicles | 24 | €4,692 | €2,530 | -€2,162 | -46.1% |
| Financial fixed assets | 28 | €362 | €362 | = | 0.0% |
| Current assets | 29/58 | €527,869 | €204,558 | -€323,311 | -61.2% |
| Amounts receivable within one year | 40/41 | €146,520 | €91,929 | -€54,590 | -37.3% |
| Trade receivables | 40 | €134,583 | €71,989 | -€62,595 | -46.5% |
| Other amounts receivable | 41 | €11,937 | €19,941 | +€8,004 | +67.1% |
| Cash at bank and in hand | 54/58 | €377,762 | €109,728 | -€268,034 | -71.0% |
| Deferred charges and accrued income | 490/1 | €3,587 | €2,901 | -€686 | -19.1% |
| Total equity and liabilities | 10/49 | €1,158,618 | €812,712 | -€345,906 | -29.9% |
| Equity | 10/15 | €35,400 | €61,920 | +€26,520 | +74.9% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €28,900 | €28,900 | = | 0.0% |
| Distributable reserves | 133 | €28,900 | €28,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €26,520 | +€26,520 | |
| Amounts payable | 17/49 | €1,123,218 | €750,791 | -€372,426 | -33.2% |
| Amounts payable after more than one year | 17 | €437,686 | €401,051 | -€36,635 | -8.4% |
| Financial debts | 170/4 | €437,686 | €401,051 | -€36,635 | -8.4% |
| Amounts payable within one year | 42/48 | €685,532 | €349,740 | -€335,792 | -49.0% |
| Current portion of amounts payable after more than one year | 42 | €35,574 | €36,635 | +€1,061 | +3.0% |
| Trade debts | 44 | €80,227 | €38,456 | -€41,771 | -52.1% |
| Suppliers | 440/4 | €80,227 | €38,456 | -€41,771 | -52.1% |
| Advances received on contracts in progress | 46 | €245,000 | - | -€245,000 | |
| Taxes, remuneration and social security | 45 | €102,872 | €85,980 | -€16,893 | -16.4% |
| Taxes | 450/3 | €66,168 | €44,806 | -€21,363 | -32.3% |
| Remuneration and social security | 454/9 | €36,704 | €41,174 | +€4,470 | +12.2% |
| Other amounts payable | 47/48 | €221,859 | €188,669 | -€33,189 | -15.0% |
| Remuneration, social security and pensions | 62 | €220,298 | €179,155 | -€41,143 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,378 | €28,963 | -€11,416 | -28.3% |
| Other operating charges | 640/8 | €4,528 | €36,798 | +€32,270 | +713% |
| Non-recurring operating charges | 66A | €339 | - | -€339 | |
| Gross operating margin | 9900 | €321,839 | €295,813 | -€26,026 | -8.1% |
| Operating profit (loss) | 9901 | €56,296 | €50,898 | -€5,398 | -9.6% |
| Financial income | 75/76B | €694 | €1,044 | +€350 | +50.5% |
| Recurring financial income | 75 | €694 | €1,044 | +€350 | +50.5% |
| Financial charges | 65/66B | €9,411 | €11,785 | +€2,374 | +25.2% |
| Recurring financial charges | 65 | €9,411 | €11,785 | +€2,374 | +25.2% |
| Profit (loss) for the period before taxes | 9903 | €47,578 | €40,157 | -€7,421 | -15.6% |
| Income taxes | 67/77 | €16,022 | €13,637 | -€2,385 | -14.9% |
| Profit (loss) for the period | 9904 | €31,556 | €26,520 | -€5,036 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,556 | €26,520 | -€5,036 | -16.0% |
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 28 October 2026 via checked.be.