IMMOTRACK: 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.
IMMOTRACK
Largest movements
- Tangible fixed assets +€715,397
up €715,397 (+39.0%), from €1.8m to €2.6m
of which Other tangible fixed assets: +€674,745
- Receivables within one year -€98,592
down €98,592 (-19.4%), from €508,482 to €409,890
of which Other amounts receivable: -€259,886
- Cash +€52,685
up €52,685 (+154.2%), from €34,175 to €86,861
mainly Other debts (+€620,746) and Receivables within one year (+€98,592)
- Other debts +€620,746
up €620,746 (+28.2%), from €2.2m to €2.8m
- Gross operating margin +€37,558
up €37,558 (+14.1%), from €267,315 to €304,873
- Staff costs +€22,661
up €22,661 (+356.3%), from €6,361 to €29,022
- Depreciation +€13,235
up €13,235 (+20.8%), from €63,734 to €76,969
- Financial income +€8,795
up €8,795 (+188.8%), from €4,658 to €13,453
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 | €4,267,762 | €4,937,331 | +€669,569 | +15.7% |
| Fixed assets | 21/28 | €3,722,802 | €4,438,364 | +€715,562 | +19.2% |
| Tangible fixed assets | 22/27 | €1,835,987 | €2,551,384 | +€715,397 | +39.0% |
| Land and buildings | 22 | €1,147,575 | €1,111,289 | -€36,286 | -3.2% |
| Plant, machinery and equipment | 23 | €124,192 | €199,375 | +€75,183 | +60.5% |
| Furniture and vehicles | 24 | - | €1,755 | +€1,755 | |
| Other tangible fixed assets | 26 | €564,220 | €1,238,965 | +€674,745 | +119.6% |
| Financial fixed assets | 28 | €1,886,814 | €1,886,979 | +€165 | 0.0% |
| Current assets | 29/58 | €544,960 | €498,967 | -€45,993 | -8.4% |
| Amounts receivable within one year | 40/41 | €508,482 | €409,890 | -€98,592 | -19.4% |
| Trade receivables | 40 | €151,019 | €312,313 | +€161,294 | +106.8% |
| Other amounts receivable | 41 | €357,463 | €97,576 | -€259,886 | -72.7% |
| Cash at bank and in hand | 54/58 | €34,175 | €86,861 | +€52,685 | +154.2% |
| Deferred charges and accrued income | 490/1 | €2,303 | €2,216 | -€86 | -3.7% |
| Total equity and liabilities | 10/49 | €4,267,762 | €4,937,331 | +€669,569 | +15.7% |
| Equity | 10/15 | €25,199 | €41,492 | +€16,293 | +64.7% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €7,199 | €23,492 | +€16,293 | +226.3% |
| Distributable reserves | 133 | €7,199 | €23,492 | +€16,293 | +226.3% |
| Amounts payable | 17/49 | €4,242,563 | €4,895,839 | +€653,276 | +15.4% |
| Amounts payable after more than one year | 17 | €2,030,000 | €2,030,000 | = | 0.0% |
| Financial debts | 170/4 | €2,030,000 | €2,030,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,212,563 | €2,865,839 | +€653,276 | +29.5% |
| Trade debts | 44 | €9,626 | €2,787 | -€6,839 | -71.0% |
| Suppliers | 440/4 | €9,626 | €2,787 | -€6,839 | -71.0% |
| Taxes, remuneration and social security | 45 | €1,865 | €41,234 | +€39,369 | +2110.5% |
| Taxes | 450/3 | - | €36,413 | +€36,413 | |
| Remuneration and social security | 454/9 | €1,865 | €4,822 | +€2,956 | +158.5% |
| Other amounts payable | 47/48 | €2,201,071 | €2,821,817 | +€620,746 | +28.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €6,361 | €29,022 | +€22,661 | +356.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,734 | €76,969 | +€13,235 | +20.8% |
| Other operating charges | 640/8 | €6,439 | €6,240 | -€199 | -3.1% |
| Gross operating margin | 9900 | €267,315 | €304,873 | +€37,558 | +14.1% |
| Operating profit (loss) | 9901 | €190,781 | €192,642 | +€1,861 | +1.0% |
| Financial income | 75/76B | €4,658 | €13,453 | +€8,795 | +188.8% |
| Recurring financial income | 75 | €4,658 | €13,453 | +€8,795 | +188.8% |
| Financial charges | 65/66B | €192,602 | €189,802 | -€2,800 | -1.5% |
| Recurring financial charges | 65 | €192,602 | €189,802 | -€2,800 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €2,837 | €16,293 | +€13,456 | +474.3% |
| Profit (loss) for the period | 9904 | €2,837 | €16,293 | +€13,456 | +474.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,837 | €16,293 | +€13,456 | +474.3% |
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 12 October 2026 via checked.be.