IMMOVA: 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.
IMMOVA
Largest movements
- Receivables within one year +€635,570
up €635,570 (+40.4%), from €1.6m to €2.2m
of which Other amounts receivable: +€640,495
- Cash +€87,907
up €87,907 (+42.5%), from €206,951 to €294,858
mainly Other debts (+€2.1m) and Depreciation (+€1,097)
- Other debts +€2.1m
up €2.1m (+2614.5%), from €79,942 to €2.2m
- Short-term financial debts -€1.3m
down €1.3m (-83.4%), from €1.5m to €250,000
- Reserves -€98,204
down €98,204 (-56.9%), from €172,526 to €74,322
of which Distributable reserves: -€98,204
- Gross operating margin -€68,064
down €68,064 (-96.3%), from €70,654 to €2,591
- Financial charges +€64,884
up €64,884 (+207.8%), from €31,227 to €96,111
- Financial income +€17,580
up €17,580 (+150.4%), from €11,689 to €29,269
- Taxes -€5,443
down €5,443, from €5,068 to -€375
- Other operating charges +€1,712
up €1,712 (+5.4%), from €31,520 to €33,231
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 | €2,082,421 | €2,802,271 | +€719,850 | +34.6% |
| Fixed assets | 21/28 | €294,656 | €293,559 | -€1,097 | -0.4% |
| Tangible fixed assets | 22/27 | €294,656 | €293,559 | -€1,097 | -0.4% |
| Land and buildings | 22 | €294,656 | €293,559 | -€1,097 | -0.4% |
| Current assets | 29/58 | €1,787,765 | €2,508,712 | +€720,947 | +40.3% |
| Amounts receivable within one year | 40/41 | €1,573,878 | €2,209,448 | +€635,570 | +40.4% |
| Trade receivables | 40 | €5,104 | €179 | -€4,925 | -96.5% |
| Other amounts receivable | 41 | €1,568,774 | €2,209,269 | +€640,495 | +40.8% |
| Cash at bank and in hand | 54/58 | €206,951 | €294,858 | +€87,907 | +42.5% |
| Deferred charges and accrued income | 490/1 | €6,935 | €4,406 | -€2,530 | -36.5% |
| Total equity and liabilities | 10/49 | €2,082,421 | €2,802,271 | +€719,850 | +34.6% |
| Equity | 10/15 | €472,526 | €374,322 | -€98,204 | -20.8% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €172,526 | €74,322 | -€98,204 | -56.9% |
| Non-distributable reserves | 130/1 | €55,000 | €55,000 | = | 0.0% |
| Legal reserve | 130 | €55,000 | €55,000 | = | 0.0% |
| Distributable reserves | 133 | €117,526 | €19,322 | -€98,204 | -83.6% |
| Amounts payable | 17/49 | €1,609,895 | €2,427,949 | +€818,055 | +50.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,594,421 | €2,425,909 | +€831,488 | +52.1% |
| Financial debts | 43 | €1,503,405 | €250,000 | -€1.3m | -83.4% |
| Credit institutions | 430/8 | €1,503,405 | €250,000 | -€1.3m | -83.4% |
| Trade debts | 44 | €8,433 | €3,274 | -€5,159 | -61.2% |
| Suppliers | 440/4 | €8,433 | €3,274 | -€5,159 | -61.2% |
| Taxes, remuneration and social security | 45 | €2,641 | €2,633 | -€8 | -0.3% |
| Taxes | 450/3 | €2,641 | €2,633 | -€8 | -0.3% |
| Other amounts payable | 47/48 | €79,942 | €2,170,001 | +€2.1m | +2614.5% |
| Accrued charges and deferred income | 492/3 | €15,474 | €2,041 | -€13,434 | -86.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,097 | €1,097 | +€0 | 0.0% |
| Other operating charges | 640/8 | €31,520 | €33,231 | +€1,712 | +5.4% |
| Gross operating margin | 9900 | €70,654 | €2,591 | -€68,064 | -96.3% |
| Operating profit (loss) | 9901 | €38,038 | -€31,737 | -€69,775 | |
| Financial income | 75/76B | €11,689 | €29,269 | +€17,580 | +150.4% |
| Recurring financial income | 75 | €11,689 | €29,269 | +€17,580 | +150.4% |
| Financial charges | 65/66B | €31,227 | €96,111 | +€64,884 | +207.8% |
| Recurring financial charges | 65 | €31,227 | €96,111 | +€64,884 | +207.8% |
| Profit (loss) for the period before taxes | 9903 | €18,500 | -€98,579 | -€117,079 | |
| Income taxes | 67/77 | €5,068 | -€375 | -€5,443 | |
| Profit (loss) for the period | 9904 | €13,432 | -€98,204 | -€111,636 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,432 | -€98,204 | -€111,636 |
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 9 October 2026 via checked.be.