IMMOVAN: 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.
IMMOVAN
Largest movements
- Tangible fixed assets +€704,557
up €704,557 (+99.5%), from €708,315 to €1.4m
of which Land and buildings: +€704,332
- Cash +€65,745
up €65,745 (+509.2%), from €12,911 to €78,656
mainly Contributions, distributions and other (+€812,312) and Net result for the year (+€135,421)
- Revaluation surpluses +€812,312
new in 2025: €812,312
- Other debts -€177,431
down €177,431 (-95.8%), from €185,256 to €7,825
- Profit (loss) carried forward +€152,417
up €152,417 (+40.2%), from €379,554 to €531,971
- Reserves -€16,996
down €16,996 (-18.0%), from €94,416 to €77,420
of which Tax-exempt reserves: -€16,996
- Gross operating margin +€195,803
up €195,803 (+981.9%), from €19,941 to €215,744
- Depreciation +€21,934
up €21,934 (+45.2%), from €48,579 to €70,513
- Turnover -€5,806
down €5,806 (-11.0%), from €52,689 to €46,883
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 | €721,226 | €1,491,528 | +€770,302 | +106.8% |
| Fixed assets | 21/28 | €708,315 | €1,412,872 | +€704,557 | +99.5% |
| Tangible fixed assets | 22/27 | €708,315 | €1,412,872 | +€704,557 | +99.5% |
| Land and buildings | 22 | €672,214 | €1,376,546 | +€704,332 | +104.8% |
| Plant, machinery and equipment | 23 | €10,913 | €10,282 | -€631 | -5.8% |
| Furniture and vehicles | 24 | €20,079 | €22,089 | +€2,010 | +10.0% |
| Other tangible fixed assets | 26 | €5,109 | €3,955 | -€1,154 | -22.6% |
| Current assets | 29/58 | €12,911 | €78,656 | +€65,745 | +509.2% |
| Cash at bank and in hand | 54/58 | €12,911 | €78,656 | +€65,745 | +509.2% |
| Total equity and liabilities | 10/49 | €721,226 | €1,491,528 | +€770,302 | +106.8% |
| Equity | 10/15 | €535,970 | €1,483,703 | +€947,733 | +176.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €812,312 | +€812,312 | |
| Reserves | 13 | €94,416 | €77,420 | -€16,996 | -18.0% |
| Non-distributable reserves | 130/1 | €15,400 | €15,400 | = | 0.0% |
| Legal reserve | 130 | €15,400 | €15,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €79,016 | €62,020 | -€16,996 | -21.5% |
| Profit (loss) carried forward | 14 | €379,554 | €531,971 | +€152,417 | +40.2% |
| Amounts payable | 17/49 | €185,256 | €7,825 | -€177,431 | -95.8% |
| Amounts payable within one year | 42/48 | €185,256 | €7,825 | -€177,431 | -95.8% |
| Other amounts payable | 47/48 | €185,256 | €7,825 | -€177,431 | -95.8% |
| Turnover | 70 | €52,689 | €46,883 | -€5,806 | -11.0% |
| Non-recurring operating income | 76A | - | €190,636 | +€190,636 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,579 | €70,513 | +€21,934 | +45.2% |
| Other operating charges | 640/8 | €9,571 | €9,872 | +€301 | +3.1% |
| Gross operating margin | 9900 | €19,941 | €215,744 | +€195,803 | +981.9% |
| Operating profit (loss) | 9901 | -€38,209 | €135,359 | +€173,568 | |
| Financial income | 75/76B | €44 | €62 | +€18 | +40.9% |
| Recurring financial income | 75 | €44 | €62 | +€18 | +40.9% |
| Non-recurring financial income | 76B | €44 | - | -€44 | |
| Financial charges | 65/66B | €10 | - | -€10 | |
| Recurring financial charges | 65 | €10 | - | -€10 | |
| Non-recurring financial charges | 66B | €10 | - | -€10 | |
| Profit (loss) for the period before taxes | 9903 | -€38,175 | €135,421 | +€173,596 | |
| Profit (loss) for the period | 9904 | -€38,175 | €135,421 | +€173,596 | |
| Transfer from tax-exempt reserves | 789 | €16,996 | €16,996 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,179 | €152,417 | +€173,596 |
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 29 September 2026 via checked.be.