ImmoVert: 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.
ImmoVert
Largest movements
- Tangible fixed assets +€3.0m
up €3.0m (+739.0%), from €410,238 to €3.4m
of which Assets under construction and advance payments: +€3.0m
- Receivables within one year +€1.0m
new in 2025: €1.0m
- Cash +€158,853
up €158,853 (+1043.9%), from €15,217 to €174,070
mainly Debts after one year (+€3.2m) and Short-term financial debts (+€800,000)
- Debts after one year +€3.2m
up €3.2m (+1282.0%), from €246,000 to €3.4m
- Short-term financial debts +€800,000
new in 2025: €800,000
- Trade debts +€275,795
new in 2025: €275,795
- Gross operating margin -€3,553
down €3,553 (-28.4%), from €12,492 to €8,939
- Depreciation -€1,186
down €1,186 (-9.1%), from €13,068 to €11,883
- Other operating charges +€377
up €377 (+17.9%), from €2,109 to €2,486
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 | €426,227 | €4,653,786 | +€4.2m | +991.9% |
| Fixed assets | 21/28 | €410,238 | €3,441,724 | +€3.0m | +739.0% |
| Tangible fixed assets | 22/27 | €410,238 | €3,441,724 | +€3.0m | +739.0% |
| Land and buildings | 22 | €410,238 | €398,356 | -€11,883 | -2.9% |
| Assets under construction and advance payments | 27 | - | €3,043,368 | +€3.0m | |
| Current assets | 29/58 | €15,989 | €1,212,062 | +€1.2m | +7480.7% |
| Amounts receivable within one year | 40/41 | - | €1,037,137 | +€1.0m | |
| Other amounts receivable | 41 | - | €1,037,137 | +€1.0m | |
| Cash at bank and in hand | 54/58 | €15,217 | €174,070 | +€158,853 | +1043.9% |
| Deferred charges and accrued income | 490/1 | €772 | €855 | +€83 | +10.8% |
| Total equity and liabilities | 10/49 | €426,227 | €4,653,786 | +€4.2m | +991.9% |
| Equity | 10/15 | €28,873 | €3,965 | -€24,908 | -86.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | €16,026 | €16,026 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€87,152 | -€112,060 | -€24,908 | -28.6% |
| Amounts payable | 17/49 | €397,354 | €4,649,821 | +€4.3m | +1070.2% |
| Amounts payable after more than one year | 17 | €246,000 | €3,399,820 | +€3.2m | +1282.0% |
| Financial debts | 170/4 | €246,000 | €3,399,820 | +€3.2m | +1282.0% |
| Amounts payable within one year | 42/48 | €151,354 | €1,250,001 | +€1.1m | +725.9% |
| Current portion of amounts payable after more than one year | 42 | €20,500 | €20,500 | = | 0.0% |
| Financial debts | 43 | - | €800,000 | +€800,000 | |
| Other loans | 439 | - | €800,000 | +€800,000 | |
| Trade debts | 44 | - | €275,795 | +€275,795 | |
| Suppliers | 440/4 | - | €275,795 | +€275,795 | |
| Taxes, remuneration and social security | 45 | €509 | €0 | -€509 | -100.0% |
| Taxes | 450/3 | €509 | €0 | -€509 | -100.0% |
| Other amounts payable | 47/48 | €130,345 | €153,706 | +€23,361 | +17.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,068 | €11,883 | -€1,186 | -9.1% |
| Other operating charges | 640/8 | €2,109 | €2,486 | +€377 | +17.9% |
| Gross operating margin | 9900 | €12,492 | €8,939 | -€3,553 | -28.4% |
| Operating profit (loss) | 9901 | -€2,686 | -€5,430 | -€2,743 | -102.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €19,428 | €19,478 | +€50 | +0.3% |
| Recurring financial charges | 65 | €19,428 | €19,478 | +€50 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | -€22,114 | -€24,908 | -€2,793 | -12.6% |
| Profit (loss) for the period | 9904 | -€22,114 | -€24,908 | -€2,793 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,114 | -€24,908 | -€2,793 | -12.6% |
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 4 October 2026 via checked.be.