IMMOVE: 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.
IMMOVE
Largest movements
- Cash +€244,692
up €244,692 (+80.6%), from €303,515 to €548,207
mainly Net result for the year (+€282,340) and Depreciation (+€124,669)
- Tangible fixed assets -€100,090
down €100,090 (-5.5%), from €1.8m to €1.7m
of which Land and buildings: -€94,660
- Receivables within one year +€58,769
up €58,769 (+97.6%), from €60,241 to €119,010
of which Trade receivables: +€51,122
- Reserves +€282,340
up €282,340 (+14.9%), from €1.9m to €2.2m
of which Distributable reserves: +€302,358
- Current portion of long-term debt -€79,720
no longer reported in 2025 (was €79,720)
- Gross operating margin +€64,198
up €64,198 (+12.1%), from €530,851 to €595,049
- Taxes +€29,225
up €29,225 (+26.1%), from €111,784 to €141,009
- Financial income +€13,115
up €13,115 (+268.9%), from €4,878 to €17,993
- Depreciation -€9,352
down €9,352 (-7.0%), from €134,021 to €124,669
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 | €2,286,185 | €2,498,565 | +€212,380 | +9.3% |
| Fixed assets | 21/28 | €1,837,895 | €1,743,537 | -€94,358 | -5.1% |
| Intangible fixed assets | 21 | - | €6,227 | +€6,227 | |
| Tangible fixed assets | 22/27 | €1,835,832 | €1,735,741 | -€100,090 | -5.5% |
| Land and buildings | 22 | €1,636,843 | €1,542,182 | -€94,660 | -5.8% |
| Plant, machinery and equipment | 23 | €198,989 | €180,792 | -€18,197 | -9.1% |
| Furniture and vehicles | 24 | - | €12,767 | +€12,767 | |
| Financial fixed assets | 28 | €2,063 | €1,568 | -€495 | -24.0% |
| Current assets | 29/58 | €448,290 | €755,029 | +€306,738 | +68.4% |
| Amounts receivable within one year | 40/41 | €60,241 | €119,010 | +€58,769 | +97.6% |
| Trade receivables | 40 | €50,935 | €102,057 | +€51,122 | +100.4% |
| Other amounts receivable | 41 | €9,306 | €16,953 | +€7,646 | +82.2% |
| Current investments | 50/53 | €67,468 | €67,468 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €303,515 | €548,207 | +€244,692 | +80.6% |
| Deferred charges and accrued income | 490/1 | €17,066 | €20,344 | +€3,278 | +19.2% |
| Total equity and liabilities | 10/49 | €2,286,185 | €2,498,565 | +€212,380 | +9.3% |
| Equity | 10/15 | €1,997,416 | €2,279,756 | +€282,340 | +14.1% |
| 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% |
| Reserves | 13 | €1,897,416 | €2,179,756 | +€282,340 | +14.9% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €338,769 | €318,751 | -€20,018 | -5.9% |
| Distributable reserves | 133 | €1,548,646 | €1,851,004 | +€302,358 | +19.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €84,692 | €79,688 | -€5,005 | -5.9% |
| Deferred taxes | 168 | €84,692 | €79,688 | -€5,005 | -5.9% |
| Amounts payable | 17/49 | €204,077 | €139,122 | -€64,956 | -31.8% |
| Amounts payable after more than one year | 17 | €87,451 | €81,367 | -€6,084 | -7.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €87,451 | €81,367 | -€6,084 | -7.0% |
| Amounts payable within one year | 42/48 | €116,626 | €56,041 | -€60,586 | -51.9% |
| Current portion of amounts payable after more than one year | 42 | €79,720 | - | -€79,720 | |
| Trade debts | 44 | €67 | €10,687 | +€10,620 | +15908.0% |
| Suppliers | 440/4 | €67 | €10,687 | +€10,620 | +15908.0% |
| Taxes, remuneration and social security | 45 | €36,840 | €45,354 | +€8,514 | +23.1% |
| Taxes | 450/3 | €36,840 | €45,354 | +€8,514 | +23.1% |
| Accrued charges and deferred income | 492/3 | €0 | €1,714 | +€1,714 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,021 | €124,669 | -€9,352 | -7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €1,632 | +€1,632 | |
| Other operating charges | 640/8 | €62,535 | €67,249 | +€4,714 | +7.5% |
| Gross operating margin | 9900 | €530,851 | €595,049 | +€64,198 | +12.1% |
| Operating profit (loss) | 9901 | €334,295 | €401,498 | +€67,203 | +20.1% |
| Financial income | 75/76B | €4,878 | €17,993 | +€13,115 | +268.9% |
| Recurring financial income | 75 | €4,878 | €17,993 | +€13,115 | +268.9% |
| Financial charges | 65/66B | €4,272 | €1,147 | -€3,125 | -73.2% |
| Recurring financial charges | 65 | €4,272 | €1,147 | -€3,125 | -73.2% |
| Profit (loss) for the period before taxes | 9903 | €334,901 | €418,344 | +€83,443 | +24.9% |
| Transfer from deferred taxes | 780 | €5,005 | €5,005 | = | 0.0% |
| Income taxes | 67/77 | €111,784 | €141,009 | +€29,225 | +26.1% |
| Profit (loss) for the period | 9904 | €228,122 | €282,340 | +€54,218 | +23.8% |
| Transfer from tax-exempt reserves | 789 | €20,018 | €20,018 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €248,140 | €302,358 | +€54,218 | +21.8% |
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 6 October 2026 via checked.be.