IMMOVEKA: 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
IMMOVEKA
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€18,209
2024 · -€27,495+€9,286
Equity
-€283,110
2024 · -€264,901-€18,209
Cash
€13,053
2024 · €12,198+€855
Balance sheet total
€1.0m
2024 · €1.0m-€12,729
Largest movements
Assets
- Tangible fixed assets -€13,931
down €13,931 (-1.4%), from €1.0m to €1.0m
of which Land and buildings: -€34,249
Equity and liabilities
- Other debts +€25,650
up €25,650 (+3.1%), from €820,634 to €846,284
- Accrued charges and deferred income -€16,442
down €16,442 (-100%), from €16,442 to €0
Income statement
- Gross operating margin +€10,935
up €10,935 (+87.5%), from €12,494 to €23,429
- Depreciation +€2,977
up €2,977 (+8.2%), from €36,412 to €39,390
- Other operating charges -€1,877
down €1,877 (-31.7%), from €5,915 to €4,038
- Financial charges +€507
up €507 (+94.9%), from €534 to €1,041
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
-€27,495
Gross operating margin
+€10,935
Depreciation
-€2,977
Other operating charges
+€1,877
Financial income
-€42
Financial charges
-€507
Result 2025
-€18,209
raises the resultlowers the result
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
+€26,313
Investment
-€25,458
Financing
€0
Cash 2024
€12,198
From operations (derived)
+€26,313
Net result for the year
-€18,209
Depreciation
+€39,390
Deferred charges and accrued income
-€348
Provisions
-€2,830
Trade debts
-€898
Other debts
+€25,650
Accrued charges and deferred income
-€16,442
Investment (derived)
-€25,458
Investment in fixed assets (net)
-€25,458
Cash 2025
€13,053
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,037,217 | €1,024,488 | -€12,729 | -1.2% |
| Fixed assets | 21/28 | €1,024,279 | €1,010,347 | -€13,931 | -1.4% |
| Tangible fixed assets | 22/27 | €1,021,622 | €1,007,691 | -€13,931 | -1.4% |
| Land and buildings | 22 | €1,011,403 | €977,154 | -€34,249 | -3.4% |
| Plant, machinery and equipment | 23 | €10,219 | €30,537 | +€20,318 | +199% |
| Financial fixed assets | 28 | €2,656 | €2,656 | = | 0.0% |
| Current assets | 29/58 | €12,938 | €14,141 | +€1,203 | +9.3% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €12,198 | €13,053 | +€855 | +7.0% |
| Deferred charges and accrued income | 490/1 | €740 | €1,089 | +€348 | +47.1% |
| Total equity and liabilities | 10/49 | €1,037,217 | €1,024,488 | -€12,729 | -1.2% |
| Equity | 10/15 | -€264,901 | -€283,110 | -€18,209 | -6.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €219,569 | €211,078 | -€8,491 | -3.9% |
| Non-distributable reserves | 130/1 | €4,837 | €4,837 | = | 0.0% |
| Legal reserve | 130 | €4,837 | €4,837 | = | 0.0% |
| Tax-exempt reserves | 132 | €198,657 | €190,166 | -€8,491 | -4.3% |
| Distributable reserves | 133 | €16,075 | €16,075 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€546,444 | -€556,162 | -€9,718 | -1.8% |
| Provisions and deferred taxes | 16 | €63,209 | €60,379 | -€2,830 | -4.5% |
| Deferred taxes | 168 | €63,209 | €60,379 | -€2,830 | -4.5% |
| Amounts payable | 17/49 | €1,238,909 | €1,247,220 | +€8,311 | +0.7% |
| Amounts payable after more than one year | 17 | €400,000 | €400,000 | = | 0.0% |
| Other amounts payable | 178/9 | €400,000 | €400,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €822,467 | €847,220 | +€24,753 | +3.0% |
| Trade debts | 44 | €1,833 | €936 | -€898 | -49.0% |
| Suppliers | 440/4 | €1,833 | €936 | -€898 | -49.0% |
| Other amounts payable | 47/48 | €820,634 | €846,284 | +€25,650 | +3.1% |
| Accrued charges and deferred income | 492/3 | €16,442 | €0 | -€16,442 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,412 | €39,390 | +€2,977 | +8.2% |
| Other operating charges | 640/8 | €5,915 | €4,038 | -€1,877 | -31.7% |
| Non-recurring operating charges | 66A | €0 | €0 | -€0 | -100% |
| Gross operating margin | 9900 | €12,494 | €23,429 | +€10,935 | +87.5% |
| Operating profit (loss) | 9901 | -€29,833 | -€19,999 | +€9,834 | +33.0% |
| Financial income | 75/76B | €42 | €0 | -€42 | -100% |
| Recurring financial income | 75 | €42 | €0 | -€42 | -100% |
| Financial charges | 65/66B | €534 | €1,041 | +€507 | +94.9% |
| Recurring financial charges | 65 | €534 | €1,041 | +€507 | +94.9% |
| Profit (loss) for the period before taxes | 9903 | -€30,325 | -€21,039 | +€9,286 | +30.6% |
| Transfer from deferred taxes | 780 | €2,830 | €2,830 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€27,495 | -€18,209 | +€9,286 | +33.8% |
| Transfer from tax-exempt reserves | 789 | €8,491 | €8,491 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,004 | -€9,718 | +€9,286 | +48.9% |
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 17 October 2026 via checked.be.