IMMOTRAZ: 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.
IMMOTRAZ
Largest movements
- Tangible fixed assets -€64,702
down €64,702 (-4.2%), from €1.5m to €1.5m
- Revaluation surpluses -€45,653
down €45,653 (-4.2%), from €1.1m to €1.0m
- Reserves +€45,653
up €45,653 (+75.4%), from €60,578 to €106,231
of which Distributable reserves: +€45,653
- Profit (loss) carried forward -€36,666
down €36,666 (-37.2%), from €98,476 to €61,810
- Current portion of long-term debt -€16,667
no longer reported in 2025 (was €16,667)
- Gross operating margin -€5,871
down €5,871 (-14.1%), from €41,751 to €35,880
- Other operating charges +€5,795
new in 2025: €5,795
- Taxes -€4,040
down €4,040 (-68.5%), from €5,897 to €1,857
- Financial charges -€619
down €619 (-76.3%), from €811 to €192
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 | €1,525,087 | €1,472,741 | -€52,346 | -3.4% |
| Fixed assets | 21/28 | €1,523,642 | €1,458,940 | -€64,702 | -4.2% |
| Tangible fixed assets | 22/27 | €1,523,642 | €1,458,940 | -€64,702 | -4.2% |
| Land and buildings | 22 | €1,523,642 | €1,458,940 | -€64,702 | -4.2% |
| Current assets | 29/58 | €1,445 | €13,801 | +€12,356 | +855.1% |
| Cash at bank and in hand | 54/58 | €1,445 | €13,801 | +€12,356 | +855.1% |
| Total equity and liabilities | 10/49 | €1,525,087 | €1,472,741 | -€52,346 | -3.4% |
| Equity | 10/15 | €1,402,599 | €1,365,933 | -€36,666 | -2.6% |
| Contributions | 10/11 | €148,000 | €148,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,095,545 | €1,049,892 | -€45,653 | -4.2% |
| Reserves | 13 | €60,578 | €106,231 | +€45,653 | +75.4% |
| Non-distributable reserves | 130/1 | €14,800 | €14,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,800 | €14,800 | = | 0.0% |
| Distributable reserves | 133 | €45,778 | €91,431 | +€45,653 | +99.7% |
| Profit (loss) carried forward | 14 | €98,476 | €61,810 | -€36,666 | -37.2% |
| Amounts payable | 17/49 | €122,488 | €106,808 | -€15,680 | -12.8% |
| Amounts payable after more than one year | 17 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 178/9 | €1,500 | €1,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €120,988 | €105,308 | -€15,680 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €16,667 | - | -€16,667 | |
| Taxes, remuneration and social security | 45 | €5,991 | €3,271 | -€2,720 | -45.4% |
| Taxes | 450/3 | €5,991 | €3,271 | -€2,720 | -45.4% |
| Other amounts payable | 47/48 | €98,330 | €102,037 | +€3,707 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,702 | €64,702 | = | 0.0% |
| Other operating charges | 640/8 | - | €5,795 | +€5,795 | |
| Gross operating margin | 9900 | €41,751 | €35,880 | -€5,871 | -14.1% |
| Operating profit (loss) | 9901 | -€22,951 | -€34,617 | -€11,666 | -50.8% |
| Financial charges | 65/66B | €811 | €192 | -€619 | -76.3% |
| Recurring financial charges | 65 | €811 | €192 | -€619 | -76.3% |
| Profit (loss) for the period before taxes | 9903 | -€23,762 | -€34,809 | -€11,047 | -46.5% |
| Income taxes | 67/77 | €5,897 | €1,857 | -€4,040 | -68.5% |
| Profit (loss) for the period | 9904 | -€29,659 | -€36,666 | -€7,007 | -23.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,659 | -€36,666 | -€7,007 | -23.6% |
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 2 October 2026 via checked.be.