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
- Intangible fixed assets -€65,908
down €65,908 (-36.7%), from €179,588 to €113,680
- Receivables within one year -€55,921
down €55,921 (-10.0%), from €561,346 to €505,425
of which Other amounts receivable: -€50,991
- Cash -€36,494
down €36,494 (-98.5%), from €37,039 to €545
mainly Net result for the year (-€78,134) and Tax, wage and social debts (-€69,458)
- Profit (loss) carried forward -€78,134
down €78,134 (-89.4%), from €87,419 to €9,285
- Tax, wage and social debts -€69,458
down €69,458 (-15.0%), from €462,869 to €393,411
- Other debts -€60,597
down €60,597 (-40.0%), from €151,330 to €90,733
- Trade debts +€47,542
up €47,542 (+600%), from €7,919 to €55,461
- Gross operating margin -€246,247
down €246,247 (-88.4%), from €278,600 to €32,353
- Depreciation -€51,323
down €51,323 (-42.7%), from €120,301 to €68,978
- Write-downs +€40,050
new in 2025: €40,050
- Taxes -€17,754
no longer reported in 2025 (was €17,754)
- Financial income -€5,998
down €5,998 (-100.0%), from €6,000 to €2
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 | €783,968 | €623,321 | -€160,647 | -20.5% |
| Fixed assets | 21/28 | €182,659 | €113,680 | -€68,979 | -37.8% |
| Intangible fixed assets | 21 | €179,588 | €113,680 | -€65,908 | -36.7% |
| Tangible fixed assets | 22/27 | €3,071 | - | -€3,071 | |
| Furniture and vehicles | 24 | €3,071 | - | -€3,071 | |
| Current assets | 29/58 | €601,309 | €509,641 | -€91,668 | -15.2% |
| Amounts receivable within one year | 40/41 | €561,346 | €505,425 | -€55,921 | -10.0% |
| Trade receivables | 40 | €506,439 | €501,509 | -€4,930 | -1.0% |
| Other amounts receivable | 41 | €54,907 | €3,916 | -€50,991 | -92.9% |
| Cash at bank and in hand | 54/58 | €37,039 | €545 | -€36,494 | -98.5% |
| Deferred charges and accrued income | 490/1 | €2,924 | €3,671 | +€747 | +25.5% |
| Total equity and liabilities | 10/49 | €783,968 | €623,321 | -€160,647 | -20.5% |
| Equity | 10/15 | €161,850 | €83,716 | -€78,134 | -48.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,831 | €55,831 | = | 0.0% |
| Distributable reserves | 133 | €55,831 | €55,831 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,419 | €9,285 | -€78,134 | -89.4% |
| Amounts payable | 17/49 | €622,118 | €539,605 | -€82,513 | -13.3% |
| Amounts payable within one year | 42/48 | €622,118 | €539,605 | -€82,513 | -13.3% |
| Trade debts | 44 | €7,919 | €55,461 | +€47,542 | +600% |
| Suppliers | 440/4 | €7,919 | €55,461 | +€47,542 | +600% |
| Taxes, remuneration and social security | 45 | €462,869 | €393,411 | -€69,458 | -15.0% |
| Taxes | 450/3 | €462,869 | €393,411 | -€69,458 | -15.0% |
| Other amounts payable | 47/48 | €151,330 | €90,733 | -€60,597 | -40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,301 | €68,978 | -€51,323 | -42.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €40,050 | +€40,050 | |
| Other operating charges | 640/8 | €1,647 | €1,285 | -€362 | -22.0% |
| Gross operating margin | 9900 | €278,600 | €32,353 | -€246,247 | -88.4% |
| Operating profit (loss) | 9901 | €156,652 | -€77,960 | -€234,612 | |
| Financial income | 75/76B | €6,000 | €2 | -€5,998 | -100.0% |
| Recurring financial income | 75 | €6,000 | €2 | -€5,998 | -100.0% |
| Financial charges | 65/66B | €1,080 | €176 | -€904 | -83.7% |
| Recurring financial charges | 65 | €1,080 | €176 | -€904 | -83.7% |
| Profit (loss) for the period before taxes | 9903 | €161,572 | -€78,134 | -€239,706 | |
| Income taxes | 67/77 | €17,754 | - | -€17,754 | |
| Profit (loss) for the period | 9904 | €143,818 | -€78,134 | -€221,952 | |
| Profit (loss) for the period to be appropriated | 9905 | €143,818 | -€78,134 | -€221,952 |
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 15 October 2026 via checked.be.