IMMOVEX: 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.
IMMOVEX
Largest movements
- Cash +€59,164
up €59,164 (+5,215%), from €1,135 to €60,299
mainly Contributions, distributions and other (+€122,024) and Depreciation (+€51,706)
- Tangible fixed assets -€51,706
down €51,706 (-3.7%), from €1.4m to €1.4m
- Investment grants +€122,024
new in 2025: €122,024
- Debts after one year -€88,598
down €88,598 (-8.5%), from €1.0m to €955,203
- Other debts -€39,000
down €39,000 (-20.0%), from €195,220 to €156,220
- Reserves +€15,729
up €15,729 (+70.7%), from €22,247 to €37,976
- Financial income +€17,976
new in 2025: €17,976
- Gross operating margin -€17,742
down €17,742 (-20.8%), from €85,336 to €67,593
- Taxes -€3,800
no longer reported in 2025 (was €3,800)
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 | €1,406,362 | €1,413,820 | +€7,458 | +0.5% |
| Fixed assets | 21/28 | €1,405,228 | €1,353,522 | -€51,706 | -3.7% |
| Tangible fixed assets | 22/27 | €1,405,228 | €1,353,522 | -€51,706 | -3.7% |
| Land and buildings | 22 | €1,405,228 | €1,353,522 | -€51,706 | -3.7% |
| Current assets | 29/58 | €1,135 | €60,299 | +€59,164 | +5,215% |
| Cash at bank and in hand | 54/58 | €1,135 | €60,299 | +€59,164 | +5,215% |
| Total equity and liabilities | 10/49 | €1,406,362 | €1,413,820 | +€7,458 | +0.5% |
| Equity | 10/15 | €72,247 | €210,000 | +€137,753 | +191% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €22,247 | €37,976 | +€15,729 | +70.7% |
| Distributable reserves | 133 | €22,247 | €37,976 | +€15,729 | +70.7% |
| Investment grants | 15 | - | €122,024 | +€122,024 | |
| Amounts payable | 17/49 | €1,334,115 | €1,203,820 | -€130,294 | -9.8% |
| Amounts payable after more than one year | 17 | €1,043,801 | €955,203 | -€88,598 | -8.5% |
| Financial debts | 170/4 | €1,043,801 | €955,203 | -€88,598 | -8.5% |
| Amounts payable within one year | 42/48 | €290,314 | €248,617 | -€41,696 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | €87,678 | €88,598 | +€920 | +1.0% |
| Taxes, remuneration and social security | 45 | €7,416 | €3,800 | -€3,616 | -48.8% |
| Taxes | 450/3 | €7,416 | €3,800 | -€3,616 | -48.8% |
| Other amounts payable | 47/48 | €195,220 | €156,220 | -€39,000 | -20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,706 | €51,706 | = | 0.0% |
| Other operating charges | 640/8 | €5,932 | €6,118 | +€186 | +3.1% |
| Gross operating margin | 9900 | €85,336 | €67,593 | -€17,742 | -20.8% |
| Operating profit (loss) | 9901 | €27,698 | €9,769 | -€17,929 | -64.7% |
| Financial income | 75/76B | - | €17,976 | +€17,976 | |
| Recurring financial income | 75 | - | €17,976 | +€17,976 | |
| Financial charges | 65/66B | €12,500 | €12,016 | -€483 | -3.9% |
| Recurring financial charges | 65 | €12,500 | €12,016 | -€483 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €15,198 | €15,729 | +€531 | +3.5% |
| Income taxes | 67/77 | €3,800 | - | -€3,800 | |
| Profit (loss) for the period | 9904 | €11,399 | €15,729 | +€4,330 | +38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,399 | €15,729 | +€4,330 | +38.0% |
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 20 October 2026 via checked.be.