IMMOV: 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.
IMMOV
Largest movements
- Tangible fixed assets -€34,828
down €34,828 (-5.3%), from €660,806 to €625,979
- Cash +€17,295
up €17,295 (+6.6%), from €263,755 to €281,050
mainly Other debts (+€49,097) and Depreciation (+€34,828)
- Other debts +€49,097
up €49,097 (+149.8%), from €32,774 to €81,872
- Debts after one year -€29,148
down €29,148 (-23.4%), from €124,697 to €95,549
of which Other amounts payable: -€19,964
- Current portion of long-term debt -€16,852
down €16,852 (-36.6%), from €46,000 to €29,148
- Gross operating margin -€12,814
down €12,814 (-13.2%), from €97,319 to €84,505
- Taxes -€4,857
down €4,857 (-29.5%), from €16,473 to €11,616
- Financial income -€1,632
down €1,632 (-47.7%), from €3,421 to €1,789
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 | €936,687 | €926,735 | -€9,953 | -1.1% |
| Fixed assets | 21/28 | €660,831 | €626,003 | -€34,828 | -5.3% |
| Tangible fixed assets | 22/27 | €660,806 | €625,979 | -€34,828 | -5.3% |
| Land and buildings | 22 | €660,806 | €625,979 | -€34,828 | -5.3% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €275,857 | €300,731 | +€24,875 | +9.0% |
| Amounts receivable within one year | 40/41 | €3,022 | €6,349 | +€3,327 | +110.1% |
| Other amounts receivable | 41 | €3,022 | €6,349 | +€3,327 | +110.1% |
| Cash at bank and in hand | 54/58 | €263,755 | €281,050 | +€17,295 | +6.6% |
| Deferred charges and accrued income | 490/1 | €9,080 | €13,333 | +€4,253 | +46.8% |
| Total equity and liabilities | 10/49 | €936,687 | €926,735 | -€9,953 | -1.1% |
| Equity | 10/15 | €708,228 | €702,147 | -€6,081 | -0.9% |
| Contributions | 10/11 | €275,000 | €275,000 | = | 0.0% |
| Capital | 10 | €275,000 | €275,000 | = | 0.0% |
| Issued capital | 100 | €275,000 | €275,000 | = | 0.0% |
| Reserves | 13 | €150,801 | €144,720 | -€6,081 | -4.0% |
| Non-distributable reserves | 130/1 | €13,261 | €13,261 | = | 0.0% |
| Legal reserve | 130 | €13,261 | €13,261 | = | 0.0% |
| Tax-exempt reserves | 132 | €36,946 | €35,427 | -€1,518 | -4.1% |
| Distributable reserves | 133 | €100,594 | €96,032 | -€4,562 | -4.5% |
| Profit (loss) carried forward | 14 | €282,427 | €282,427 | = | 0.0% |
| Provisions and deferred taxes | 16 | €12,315 | €11,809 | -€506 | -4.1% |
| Deferred taxes | 168 | €12,315 | €11,809 | -€506 | -4.1% |
| Amounts payable | 17/49 | €216,144 | €212,778 | -€3,366 | -1.6% |
| Amounts payable after more than one year | 17 | €124,697 | €95,549 | -€29,148 | -23.4% |
| Financial debts | 170/4 | €9,184 | - | -€9,184 | |
| Other amounts payable | 178/9 | €115,513 | €95,549 | -€19,964 | -17.3% |
| Amounts payable within one year | 42/48 | €83,272 | €117,229 | +€33,957 | +40.8% |
| Current portion of amounts payable after more than one year | 42 | €46,000 | €29,148 | -€16,852 | -36.6% |
| Trade debts | 44 | €1,030 | €3,782 | +€2,752 | +267.2% |
| Suppliers | 440/4 | €1,030 | €3,782 | +€2,752 | +267.2% |
| Taxes, remuneration and social security | 45 | €3,469 | €2,428 | -€1,041 | -30.0% |
| Taxes | 450/3 | €3,469 | €2,428 | -€1,041 | -30.0% |
| Other amounts payable | 47/48 | €32,774 | €81,872 | +€49,097 | +149.8% |
| Accrued charges and deferred income | 492/3 | €8,175 | - | -€8,175 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,072 | €34,828 | +€756 | +2.2% |
| Other operating charges | 640/8 | €15,084 | €15,553 | +€469 | +3.1% |
| Gross operating margin | 9900 | €97,319 | €84,505 | -€12,814 | -13.2% |
| Operating profit (loss) | 9901 | €48,164 | €34,125 | -€14,039 | -29.1% |
| Financial income | 75/76B | €3,421 | €1,789 | -€1,632 | -47.7% |
| Recurring financial income | 75 | €3,421 | €1,789 | -€1,632 | -47.7% |
| Financial charges | 65/66B | €2,451 | €2,046 | -€404 | -16.5% |
| Recurring financial charges | 65 | €2,451 | €2,046 | -€404 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €49,134 | €33,868 | -€15,266 | -31.1% |
| Transfer from deferred taxes | 780 | €506 | €506 | = | 0.0% |
| Income taxes | 67/77 | €16,473 | €11,616 | -€4,857 | -29.5% |
| Profit (loss) for the period | 9904 | €33,167 | €22,758 | -€10,409 | -31.4% |
| Transfer from tax-exempt reserves | 789 | €1,518 | €1,518 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,685 | €24,277 | -€10,409 | -30.0% |
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 1 October 2026 via checked.be.