Immovanti: 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.
What changed
Immovanti
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€589,834
2024 · €27,118+€562,716
Equity
€22.2m
2024 · €21.7m+€541,148
Cash
€204,523
2024 · €158,222+€46,301
Balance sheet total
€25.8m
2024 · €24.3m+€1.5m
Largest movements
Assets
- Tangible fixed assets +€2.4m
up €2.4m (+24.8%), from €9.8m to €12.2m
of which Land and buildings: +€2.3m
- Receivables within one year -€1.1m
down €1.1m (-16.7%), from €6.6m to €5.5m
of which Other amounts receivable: -€1.1m
Equity and liabilities
- Debts after one year +€649,935
new in 2025: €649,935
- Profit (loss) carried forward +€562,179
up €562,179 (+23.8%), from €2.4m to €2.9m
- Revaluation surpluses -€469,923
down €469,923 (-8.6%), from €5.5m to €5.0m
- Reserves +€448,891
up €448,891 (+3.3%), from €13.7m to €14.2m
of which Distributable reserves: +€421,237
Income statement
- Depreciation -€331,242
down €331,242 (-34.6%), from €956,892 to €625,650
- Gross operating margin +€261,311
up €261,311 (+31.9%), from €818,666 to €1.1m
- Taxes +€42,278
up €42,278 (+17.1%), from €247,233 to €289,510
- Financial income +€32,173
up €32,173 (+5.5%), from €581,768 to €613,941
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.
Result 2024
€27,118
Gross operating margin
+€261,311
Depreciation
+€331,242
Other operating charges
-€6,828
Financial income
+€32,173
Financial charges
+€10,191
Taxes
-€42,278
Deferred taxes and other
-€23,097
Result 2025
€589,834
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€2.5m
Investment
-€3.1m
Financing
+€646,538
Cash 2024
€158,222
From operations (derived)
+€2.5m
Net result for the year
+€589,834
Depreciation
+€625,650
Smaller working-capital items
-€5,489
Receivables within one year
+€1.1m
Deferred charges and accrued income
-€63,749
Provisions
+€9,218
Tax, wage and social debts
+€224,644
Investment (derived)
-€3.1m
Investment in fixed assets (net)
-€3.1m
Financing
+€646,538
Debts after one year
+€649,935
Current portion of long-term debt
+€50,065
Short-term financial debts
-€4,775
Contributions, distributions and other
-€48,686
Cash 2025
€204,523
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,326,611 | €25,792,765 | +€1.5m | +6.0% |
| Fixed assets | 21/28 | €15,167,293 | €17,618,978 | +€2.5m | +16.2% |
| Tangible fixed assets | 22/27 | €9,813,230 | €12,246,966 | +€2.4m | +24.8% |
| Land and buildings | 22 | €9,812,390 | €12,162,213 | +€2.3m | +23.9% |
| Plant, machinery and equipment | 23 | €840 | €504 | -€336 | -40.0% |
| Furniture and vehicles | 24 | - | €84,249 | +€84,249 | |
| Financial fixed assets | 28 | €5,354,063 | €5,372,012 | +€17,949 | +0.3% |
| Current assets | 29/58 | €9,159,318 | €8,173,788 | -€985,531 | -10.8% |
| Stocks and contracts in progress | 3 | €2,093,516 | €2,094,925 | +€1,409 | +0.1% |
| Stocks | 30/36 | €2,093,516 | €2,094,925 | +€1,409 | +0.1% |
| Amounts receivable within one year | 40/41 | €6,558,299 | €5,461,309 | -€1.1m | -16.7% |
| Trade receivables | 40 | €8,385 | €4,933 | -€3,452 | -41.2% |
| Other amounts receivable | 41 | €6,549,914 | €5,456,376 | -€1.1m | -16.7% |
| Cash at bank and in hand | 54/58 | €158,222 | €204,523 | +€46,301 | +29.3% |
| Deferred charges and accrued income | 490/1 | €349,281 | €413,030 | +€63,749 | +18.3% |
| Total equity and liabilities | 10/49 | €24,326,611 | €25,792,765 | +€1.5m | +6.0% |
| Equity | 10/15 | €21,659,138 | €22,200,286 | +€541,148 | +2.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | €5,454,841 | €4,984,918 | -€469,923 | -8.6% |
| Reserves | 13 | €13,723,423 | €14,172,314 | +€448,891 | +3.3% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,404,148 | €2,431,802 | +€27,655 | +1.2% |
| Distributable reserves | 133 | €11,309,275 | €11,730,512 | +€421,237 | +3.7% |
| Profit (loss) carried forward | 14 | €2,365,115 | €2,927,294 | +€562,179 | +23.8% |
| Investment grants | 15 | €15,760 | €15,760 | = | 0.0% |
| Provisions and deferred taxes | 16 | €806,145 | €815,363 | +€9,218 | +1.1% |
| Deferred taxes | 168 | €806,145 | €815,363 | +€9,218 | +1.1% |
| Amounts payable | 17/49 | €1,861,328 | €2,777,116 | +€915,788 | +49.2% |
| Amounts payable after more than one year | 17 | - | €649,935 | +€649,935 | |
| Financial debts | 170/4 | - | €649,935 | +€649,935 | |
| Amounts payable within one year | 42/48 | €1,854,898 | €2,125,948 | +€271,050 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | - | €50,065 | +€50,065 | |
| Financial debts | 43 | €1,472,835 | €1,468,060 | -€4,775 | -0.3% |
| Credit institutions | 430/8 | €1,450,000 | €1,450,000 | = | 0.0% |
| Other loans | 439 | €22,835 | €18,060 | -€4,775 | -20.9% |
| Trade debts | 44 | €236,537 | €237,200 | +€663 | +0.3% |
| Suppliers | 440/4 | €236,537 | €237,200 | +€663 | +0.3% |
| Advances received on contracts in progress | 46 | €16,948 | €17,401 | +€453 | +2.7% |
| Taxes, remuneration and social security | 45 | €128,177 | €352,821 | +€224,644 | +175% |
| Taxes | 450/3 | €128,177 | €352,821 | +€224,644 | +175% |
| Other amounts payable | 47/48 | €400 | €400 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €6,430 | €1,233 | -€5,196 | -80.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €956,892 | €625,650 | -€331,242 | -34.6% |
| Other operating charges | 640/8 | €118,084 | €124,912 | +€6,828 | +5.8% |
| Gross operating margin | 9900 | €818,666 | €1,079,977 | +€261,311 | +31.9% |
| Operating profit (loss) | 9901 | -€256,310 | €329,416 | +€585,725 | |
| Financial income | 75/76B | €581,768 | €613,941 | +€32,173 | +5.5% |
| Recurring financial income | 75 | €581,768 | €613,941 | +€32,173 | +5.5% |
| Financial charges | 65/66B | €64,985 | €54,794 | -€10,191 | -15.7% |
| Recurring financial charges | 65 | €64,985 | €54,794 | -€10,191 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €260,473 | €888,563 | +€628,090 | +241% |
| Transfer from deferred taxes | 780 | €13,878 | €31,715 | +€17,837 | +129% |
| Transfer to deferred taxes | 680 | - | €40,934 | +€40,934 | |
| Income taxes | 67/77 | €247,233 | €289,510 | +€42,278 | +17.1% |
| Profit (loss) for the period | 9904 | €27,118 | €589,834 | +€562,716 | +2,075% |
| Transfer from tax-exempt reserves | 789 | €41,635 | €95,146 | +€53,511 | +129% |
| Transfer to tax-exempt reserves | 689 | - | €122,801 | +€122,801 | |
| Profit (loss) for the period to be appropriated | 9905 | €68,753 | €562,179 | +€493,426 | +718% |
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 27 October 2026 via checked.be.