IMMOVLAM: 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.
IMMOVLAM
Largest movements
- Current investments +€100,000
up €100,000 (+97.8%), from €102,280 to €202,280
- Cash -€45,046
down €45,046 (-68.9%), from €65,406 to €20,360
mainly Current investments (-€100,000) and Contributions, distributions and other (-€15,000)
- Tangible fixed assets -€15,914
down €15,914 (-28.5%), from €55,776 to €39,862
of which Furniture and vehicles: -€14,932
- Receivables within one year +€10,515
up €10,515 (+85.4%), from €12,319 to €22,835
of which Other amounts receivable: +€8,050
- Reserves +€30,531
up €30,531 (+13.8%), from €220,700 to €251,231
of which Distributable reserves: +€30,531
- Other debts +€14,364
up €14,364 (+2102.4%), from €683 to €15,047
- Tax, wage and social debts +€9,002
up €9,002 (+155.4%), from €5,794 to €14,796
- Other operating charges +€6,410
up €6,410 (+836.5%), from €766 to €7,177
- Gross operating margin +€4,331
up €4,331 (+5.0%), from €87,471 to €91,802
- Depreciation +€3,183
up €3,183 (+25.0%), from €12,731 to €15,914
- Taxes -€1,742
down €1,742 (-7.0%), from €24,804 to €23,062
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 | €235,953 | €287,395 | +€51,442 | +21.8% |
| Fixed assets | 21/28 | €55,776 | €39,862 | -€15,914 | -28.5% |
| Tangible fixed assets | 22/27 | €55,776 | €39,862 | -€15,914 | -28.5% |
| Furniture and vehicles | 24 | €51,849 | €36,917 | -€14,932 | -28.8% |
| Other tangible fixed assets | 26 | €3,927 | €2,946 | -€982 | -25.0% |
| Current assets | 29/58 | €180,176 | €247,533 | +€67,356 | +37.4% |
| Amounts receivable within one year | 40/41 | €12,319 | €22,835 | +€10,515 | +85.4% |
| Trade receivables | 40 | €12,319 | €14,785 | +€2,465 | +20.0% |
| Other amounts receivable | 41 | €0 | €8,050 | +€8,050 | |
| Current investments | 50/53 | €102,280 | €202,280 | +€100,000 | +97.8% |
| Cash at bank and in hand | 54/58 | €65,406 | €20,360 | -€45,046 | -68.9% |
| Deferred charges and accrued income | 490/1 | €171 | €2,058 | +€1,887 | +1103.2% |
| Total equity and liabilities | 10/49 | €235,953 | €287,395 | +€51,442 | +21.8% |
| Equity | 10/15 | €226,900 | €257,431 | +€30,531 | +13.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €220,700 | €251,231 | +€30,531 | +13.8% |
| Tax-exempt reserves | 132 | €10,076 | €10,076 | = | 0.0% |
| Distributable reserves | 133 | €210,623 | €241,155 | +€30,531 | +14.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €9,053 | €29,964 | +€20,911 | +231.0% |
| Amounts payable within one year | 42/48 | €8,444 | €29,964 | +€21,520 | +254.9% |
| Trade debts | 44 | €1,967 | €121 | -€1,846 | -93.8% |
| Suppliers | 440/4 | €1,967 | €121 | -€1,846 | -93.8% |
| Taxes, remuneration and social security | 45 | €5,794 | €14,796 | +€9,002 | +155.4% |
| Taxes | 450/3 | €5,794 | €14,796 | +€9,002 | +155.4% |
| Other amounts payable | 47/48 | €683 | €15,047 | +€14,364 | +2102.4% |
| Accrued charges and deferred income | 492/3 | €609 | €0 | -€609 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,731 | €15,914 | +€3,183 | +25.0% |
| Other operating charges | 640/8 | €766 | €7,177 | +€6,410 | +836.5% |
| Gross operating margin | 9900 | €87,471 | €91,802 | +€4,331 | +5.0% |
| Operating profit (loss) | 9901 | €73,974 | €68,711 | -€5,263 | -7.1% |
| Financial income | 75/76B | €3 | €18 | +€16 | +593.2% |
| Recurring financial income | 75 | €3 | €18 | +€16 | +593.2% |
| Financial charges | 65/66B | €59 | €136 | +€77 | +131.0% |
| Recurring financial charges | 65 | €59 | €136 | +€77 | +131.0% |
| Profit (loss) for the period before taxes | 9903 | €73,918 | €68,593 | -€5,324 | -7.2% |
| Income taxes | 67/77 | €24,804 | €23,062 | -€1,742 | -7.0% |
| Profit (loss) for the period | 9904 | €49,114 | €45,531 | -€3,582 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €49,114 | €45,531 | -€3,582 | -7.3% |
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 10 October 2026 via checked.be.