IMMOVAST: 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.
IMMOVAST
Largest movements
- Cash +€72,565
up €72,565 (+241%), from €30,107 to €102,672
mainly Net result for the year (+€143,643) and Provisions (+€125,651)
- Receivables after one year +€35,000
new in 2025: €35,000
- Reserves +€195,000
up €195,000 (+3,920%), from €4,975 to €199,975
of which Tax-exempt reserves: +€195,000
- Other debts -€143,507
down €143,507 (-72.3%), from €198,352 to €54,845
- Provisions +€125,651
new in 2025: €125,651
- Profit (loss) carried forward -€51,357
down €51,357 (-23.1%), from -€222,435 to -€273,792
- Trade debts -€18,759
no longer reported in 2025 (was €18,759)
- Gross operating margin +€241,443
up €241,443 (+853%), from €28,300 to €269,743
- Provisions +€60,651
new in 2025: €60,651
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €45,740 | €152,768 | +€107,028 | +234% |
| Fixed assets | 21/28 | €15,633 | €15,096 | -€537 | -3.4% |
| Tangible fixed assets | 22/27 | €15,633 | €15,096 | -€537 | -3.4% |
| Land and buildings | 22 | €15,633 | €15,096 | -€537 | -3.4% |
| Current assets | 29/58 | €30,107 | €137,672 | +€107,565 | +357% |
| Amounts receivable after more than one year | 29 | - | €35,000 | +€35,000 | |
| Other amounts receivable | 291 | - | €35,000 | +€35,000 | |
| Cash at bank and in hand | 54/58 | €30,107 | €102,672 | +€72,565 | +241% |
| Total equity and liabilities | 10/49 | €45,740 | €152,768 | +€107,028 | +234% |
| Equity | 10/15 | -€198,868 | -€55,225 | +€143,643 | +72.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €4,975 | €199,975 | +€195,000 | +3,920% |
| Non-distributable reserves | 130/1 | €4,975 | €4,975 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,975 | €4,975 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €195,000 | +€195,000 | |
| Profit (loss) carried forward | 14 | -€222,435 | -€273,792 | -€51,357 | -23.1% |
| Provisions and deferred taxes | 16 | - | €125,651 | +€125,651 | |
| Provisions for liabilities and charges | 160/5 | - | €125,651 | +€125,651 | |
| Taxes | 161 | - | €125,651 | +€125,651 | |
| Amounts payable | 17/49 | €244,608 | €82,342 | -€162,266 | -66.3% |
| Amounts payable within one year | 42/48 | €244,608 | €82,342 | -€162,266 | -66.3% |
| Trade debts | 44 | €18,759 | - | -€18,759 | |
| Suppliers | 440/4 | €18,759 | - | -€18,759 | |
| Advances received on contracts in progress | 46 | €27,497 | €27,497 | = | 0.0% |
| Other amounts payable | 47/48 | €198,352 | €54,845 | -€143,507 | -72.3% |
| Non-recurring operating income | 76A | - | €269,743 | +€269,743 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €538 | €449 | -€89 | -16.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €60,651 | +€60,651 | |
| Gross operating margin | 9900 | €28,300 | €269,743 | +€241,443 | +853% |
| Operating profit (loss) | 9901 | €27,762 | €208,643 | +€180,881 | +652% |
| Profit (loss) for the period before taxes | 9903 | €27,762 | €208,643 | +€180,881 | +652% |
| Transfer to deferred taxes | 680 | - | €65,000 | +€65,000 | |
| Profit (loss) for the period | 9904 | €27,762 | €143,643 | +€115,881 | +417% |
| Transfer to tax-exempt reserves | 689 | - | €195,000 | +€195,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,762 | -€51,357 | -€79,119 |
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 18 October 2026 via checked.be.