IMMOVLA: 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.
IMMOVLA
Largest movements
- Tangible fixed assets +€503,869
up €503,869 (+84.9%), from €593,541 to €1.1m
of which Land and buildings: +€504,904
- Cash -€401,367
down €401,367 (-42.3%), from €949,543 to €548,175
mainly Investment in fixed assets (net) (-€611,073) and Net result for the year (-€42,486)
- Deferred charges and accrued income +€17,362
up €17,362 (+39235.9%), from €44 to €17,406
- Debts after one year +€155,939
new in 2025: €155,939
- Reserves -€42,486
down €42,486 (-8.6%), from €496,488 to €454,003
of which Distributable reserves: -€39,570
- Gross operating margin -€282,433
down €282,433 (-74.7%), from €378,101 to €95,668
- Depreciation +€92,418
up €92,418 (+625.0%), from €14,786 to €107,204
- Financial charges +€7,152
up €7,152 (+3416.2%), from €209 to €7,362
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 | €1,543,128 | €1,663,751 | +€120,623 | +7.8% |
| Fixed assets | 21/28 | €593,541 | €1,097,410 | +€503,869 | +84.9% |
| Tangible fixed assets | 22/27 | €593,541 | €1,097,410 | +€503,869 | +84.9% |
| Land and buildings | 22 | €589,176 | €1,094,079 | +€504,904 | +85.7% |
| Plant, machinery and equipment | 23 | €4,365 | €3,331 | -€1,035 | -23.7% |
| Current assets | 29/58 | €949,587 | €566,341 | -€383,246 | -40.4% |
| Amounts receivable within one year | 40/41 | - | €759 | +€759 | |
| Other amounts receivable | 41 | - | €759 | +€759 | |
| Cash at bank and in hand | 54/58 | €949,543 | €548,175 | -€401,367 | -42.3% |
| Deferred charges and accrued income | 490/1 | €44 | €17,406 | +€17,362 | +39235.9% |
| Total equity and liabilities | 10/49 | €1,543,128 | €1,663,751 | +€120,623 | +7.8% |
| Equity | 10/15 | €1,469,782 | €1,427,296 | -€42,486 | -2.9% |
| Contributions | 10/11 | €973,294 | €973,294 | = | 0.0% |
| Capital | 10 | €973,294 | €973,294 | = | 0.0% |
| Issued capital | 100 | €973,294 | €973,294 | = | 0.0% |
| Reserves | 13 | €496,488 | €454,003 | -€42,486 | -8.6% |
| Non-distributable reserves | 130/1 | €22,535 | €22,535 | = | 0.0% |
| Legal reserve | 130 | €22,535 | €22,535 | = | 0.0% |
| Tax-exempt reserves | 132 | €216,500 | €213,583 | -€2,916 | -1.3% |
| Distributable reserves | 133 | €257,454 | €217,885 | -€39,570 | -15.4% |
| Provisions and deferred taxes | 16 | €72,167 | €71,194 | -€972 | -1.3% |
| Deferred taxes | 168 | €72,167 | €71,194 | -€972 | -1.3% |
| Amounts payable | 17/49 | €1,179 | €165,260 | +€164,081 | +13913.3% |
| Amounts payable after more than one year | 17 | - | €155,939 | +€155,939 | |
| Financial debts | 170/4 | - | €155,939 | +€155,939 | |
| Amounts payable within one year | 42/48 | €1,179 | €9,321 | +€8,142 | +690.4% |
| Current portion of amounts payable after more than one year | 42 | - | €7,079 | +€7,079 | |
| Trade debts | 44 | €989 | €2,243 | +€1,254 | +126.8% |
| Suppliers | 440/4 | €989 | €2,243 | +€1,254 | +126.8% |
| Other amounts payable | 47/48 | €190 | €0 | -€190 | -100.0% |
| Non-recurring operating income | 76A | €309,490 | €0 | -€309,490 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,786 | €107,204 | +€92,418 | +625.0% |
| Other operating charges | 640/8 | €25,919 | €24,561 | -€1,358 | -5.2% |
| Gross operating margin | 9900 | €378,101 | €95,668 | -€282,433 | -74.7% |
| Operating profit (loss) | 9901 | €337,396 | -€36,097 | -€373,493 | |
| Financial income | 75/76B | €43 | €0 | -€43 | -100.0% |
| Recurring financial income | 75 | €43 | €0 | -€43 | -100.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €209 | €7,362 | +€7,152 | +3416.2% |
| Recurring financial charges | 65 | €209 | €7,362 | +€7,152 | +3416.2% |
| Profit (loss) for the period before taxes | 9903 | €337,229 | -€43,458 | -€380,687 | |
| Transfer from deferred taxes | 780 | - | €972 | +€972 | |
| Transfer to deferred taxes | 680 | €72,167 | €0 | -€72,167 | -100.0% |
| Profit (loss) for the period | 9904 | €265,063 | -€42,486 | -€307,549 | |
| Transfer from tax-exempt reserves | 789 | - | €2,916 | +€2,916 | |
| Transfer to tax-exempt reserves | 689 | €216,500 | €0 | -€216,500 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,563 | -€39,570 | -€88,133 |
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 9 October 2026 via checked.be.