IMMOVATION: 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.
IMMOVATION
Largest movements
- Receivables within one year -€28,925
down €28,925 (-71.9%), from €40,218 to €11,293
of which Trade receivables: -€30,013
- Tangible fixed assets +€6,568
up €6,568 (+1.4%), from €462,480 to €469,048
of which Furniture and vehicles: +€35,491
- Profit (loss) carried forward -€27,501
down €27,501 (-442%), from -€6,219 to -€33,720
- Debts after one year +€13,298
up €13,298 (+12.1%), from €109,548 to €122,846
- Reserves -€6,641
down €6,641 (-4.2%), from €157,234 to €150,593
- Gross operating margin -€25,297
down €25,297 (-57.0%), from €44,412 to €19,115
- Depreciation +€4,590
up €4,590 (+10.5%), from €43,900 to €48,490
- Taxes -€764
down €764 (-97.8%), from €781 to €17
- Financial charges +€588
up €588 (+14.8%), from €3,962 to €4,550
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 | €518,909 | €495,694 | -€23,215 | -4.5% |
| Fixed assets | 21/28 | €462,705 | €469,273 | +€6,568 | +1.4% |
| Tangible fixed assets | 22/27 | €462,480 | €469,048 | +€6,568 | +1.4% |
| Land and buildings | 22 | €427,923 | €404,544 | -€23,379 | -5.5% |
| Plant, machinery and equipment | 23 | €6,439 | €895 | -€5,544 | -86.1% |
| Furniture and vehicles | 24 | €28,118 | €63,609 | +€35,491 | +126% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €56,204 | €26,421 | -€29,783 | -53.0% |
| Amounts receivable within one year | 40/41 | €40,218 | €11,293 | -€28,925 | -71.9% |
| Trade receivables | 40 | €38,958 | €8,945 | -€30,013 | -77.0% |
| Other amounts receivable | 41 | €1,260 | €2,348 | +€1,088 | +86.3% |
| Cash at bank and in hand | 54/58 | €15,563 | €10,612 | -€4,951 | -31.8% |
| Deferred charges and accrued income | 490/1 | €423 | €4,516 | +€4,093 | +968% |
| Total equity and liabilities | 10/49 | €518,909 | €495,694 | -€23,215 | -4.5% |
| Equity | 10/15 | €316,015 | €281,873 | -€34,142 | -10.8% |
| Contributions | 10/11 | €165,000 | €165,000 | = | 0.0% |
| Reserves | 13 | €157,234 | €150,593 | -€6,641 | -4.2% |
| Tax-exempt reserves | 132 | €157,234 | €150,593 | -€6,641 | -4.2% |
| Profit (loss) carried forward | 14 | -€6,219 | -€33,720 | -€27,501 | -442% |
| Provisions and deferred taxes | 16 | €70,060 | €68,400 | -€1,660 | -2.4% |
| Deferred taxes | 168 | €70,060 | €68,400 | -€1,660 | -2.4% |
| Amounts payable | 17/49 | €132,834 | €145,421 | +€12,587 | +9.5% |
| Amounts payable after more than one year | 17 | €109,548 | €122,846 | +€13,298 | +12.1% |
| Financial debts | 170/4 | €109,548 | €122,846 | +€13,298 | +12.1% |
| Amounts payable within one year | 42/48 | €23,286 | €22,575 | -€711 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €17,759 | €20,535 | +€2,776 | +15.6% |
| Trade debts | 44 | €4,691 | €1,113 | -€3,578 | -76.3% |
| Suppliers | 440/4 | €4,691 | €1,113 | -€3,578 | -76.3% |
| Taxes, remuneration and social security | 45 | €781 | €797 | +€16 | +2.0% |
| Taxes | 450/3 | €781 | €797 | +€16 | +2.0% |
| Other amounts payable | 47/48 | €55 | €130 | +€75 | +136% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,900 | €48,490 | +€4,590 | +10.5% |
| Other operating charges | 640/8 | €1,771 | €1,861 | +€90 | +5.1% |
| Gross operating margin | 9900 | €44,412 | €19,115 | -€25,297 | -57.0% |
| Operating profit (loss) | 9901 | -€1,259 | -€31,236 | -€29,977 | -2,381% |
| Financial income | 75/76B | €66 | €1 | -€65 | -98.5% |
| Recurring financial income | 75 | €66 | €1 | -€65 | -98.5% |
| Financial charges | 65/66B | €3,962 | €4,550 | +€588 | +14.8% |
| Recurring financial charges | 65 | €3,962 | €4,550 | +€588 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,155 | -€35,785 | -€30,630 | -594% |
| Transfer from deferred taxes | 780 | €1,660 | €1,660 | = | 0.0% |
| Income taxes | 67/77 | €781 | €17 | -€764 | -97.8% |
| Profit (loss) for the period | 9904 | -€4,276 | -€34,142 | -€29,866 | -698% |
| Transfer from tax-exempt reserves | 789 | €6,641 | €6,641 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,365 | -€27,501 | -€29,866 |
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 1 November 2026 via checked.be.