Immovlan: 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.
What changed
Immovlan
NACE 73.110, Advertising agencies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2.0m
2024 · -€8.5m+€6.5m
Equity
€4.9m
2024 · €6.9m-€2.0m
Cash
€379,502
2024 · €413,715-€34,212
Balance sheet total
€7.2m
2024 · €8.9m-€1.7m
Largest movements
Assets
- Intangible fixed assets -€1.6m
down €1.6m (-21.6%), from €7.4m to €5.8m
- Receivables within one year -€248,008
down €248,008 (-27.6%), from €898,215 to €650,208
of which Trade receivables: -€244,911
- Deferred charges and accrued income +€212,930
up €212,930 (+125.5%), from €169,657 to €382,587
Equity and liabilities
- Profit (loss) carried forward -€2.0m
down €2.0m (-13.3%), from -€15.1m to -€17.1m
- Debts after one year +€570,369
new in 2025: €570,369
- Trade debts -€390,233
down €390,233 (-28.8%), from €1.4m to €964,644
- Advances received +€151,573
up €151,573 (+37.7%), from €401,666 to €553,238
Income statement
- Turnover +€1.7m
up €1.7m (+25.5%), from €6.5m to €8.1m
- Purchases and services +€1.3m
up €1.3m (+22.8%), from €5.9m to €7.2m
- Gross operating margin +€276,481
up €276,481 (+38.4%), from €720,155 to €996,637
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
-€8.5m
Gross operating margin
+€276,481
Staff costs
-€51,690
Depreciation
+€50,072
Write-downs
+€43,175
Other operating charges
+€15,256
Other operating items
+€6.2m
Financial income
+€730
Financial charges
-€9,904
Taxes
-€97
Result 2025
-€2.0m
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.
From operations
-€331,055
Investment
-€273,526
Financing
+€570,369
Cash 2024
€413,715
From operations (derived)
-€331,055
Net result for the year
-€2.0m
Depreciation
+€1.9m
Receivables within one year
+€248,008
Deferred charges and accrued income
-€212,930
Trade debts
-€390,233
Tax, wage and social debts
+€6,883
Advances received
+€151,573
Other debts
+€1,093
Investment (derived)
-€273,526
Investment in fixed assets (net)
-€273,526
Financing
+€570,369
Debts after one year
+€570,369
Cash 2025
€379,502
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,891,370 | €7,227,395 | -€1.7m | -18.7% |
| Fixed assets | 21/28 | €7,409,782 | €5,815,098 | -€1.6m | -21.5% |
| Intangible fixed assets | 21 | €7,386,290 | €5,794,001 | -€1.6m | -21.6% |
| Tangible fixed assets | 22/27 | €13,492 | €11,096 | -€2,396 | -17.8% |
| Furniture and vehicles | 24 | €13,492 | €11,096 | -€2,396 | -17.8% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €1,481,587 | €1,412,297 | -€69,291 | -4.7% |
| Amounts receivable within one year | 40/41 | €898,215 | €650,208 | -€248,008 | -27.6% |
| Trade receivables | 40 | €894,631 | €649,720 | -€244,911 | -27.4% |
| Other amounts receivable | 41 | €3,584 | €488 | -€3,097 | -86.4% |
| Cash at bank and in hand | 54/58 | €413,715 | €379,502 | -€34,212 | -8.3% |
| Deferred charges and accrued income | 490/1 | €169,657 | €382,587 | +€212,930 | +125.5% |
| Total equity and liabilities | 10/49 | €8,891,370 | €7,227,395 | -€1.7m | -18.7% |
| Equity | 10/15 | €6,948,366 | €4,944,706 | -€2.0m | -28.8% |
| Contributions | 10/11 | €22,000,000 | €22,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,051,634 | -€17,055,294 | -€2.0m | -13.3% |
| Amounts payable | 17/49 | €1,943,004 | €2,282,688 | +€339,684 | +17.5% |
| Amounts payable after more than one year | 17 | - | €570,369 | +€570,369 | |
| Other amounts payable | 178/9 | - | €570,369 | +€570,369 | |
| Amounts payable within one year | 42/48 | €1,943,004 | €1,712,320 | -€230,684 | -11.9% |
| Trade debts | 44 | €1,354,877 | €964,644 | -€390,233 | -28.8% |
| Suppliers | 440/4 | €1,354,877 | €964,644 | -€390,233 | -28.8% |
| Advances received on contracts in progress | 46 | €401,666 | €553,238 | +€151,573 | +37.7% |
| Taxes, remuneration and social security | 45 | €186,362 | €193,245 | +€6,883 | +3.7% |
| Taxes | 450/3 | €67,914 | €44,142 | -€23,772 | -35.0% |
| Remuneration and social security | 454/9 | €118,448 | €149,103 | +€30,655 | +25.9% |
| Other amounts payable | 47/48 | €100 | €1,193 | +€1,093 | +1095.1% |
| Turnover | 70 | €6,469,559 | €8,121,520 | +€1.7m | +25.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €5,859,424 | €7,196,903 | +€1.3m | +22.8% |
| Remuneration, social security and pensions | 62 | €975,709 | €1,027,400 | +€51,690 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,918,283 | €1,868,211 | -€50,072 | -2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,598 | -€18,577 | -€43,175 | |
| Other operating charges | 640/8 | €59,985 | €44,730 | -€15,256 | -25.4% |
| Non-recurring operating charges | 66A | €6,280,044 | €77,482 | -€6.2m | -98.8% |
| Gross operating margin | 9900 | €720,155 | €996,637 | +€276,481 | +38.4% |
| Operating profit (loss) | 9901 | -€8,538,464 | -€2,002,608 | +€6.5m | +76.5% |
| Financial income | 75/76B | €17,282 | €18,012 | +€730 | +4.2% |
| Recurring financial income | 75 | €17,282 | €18,012 | +€730 | +4.2% |
| Financial charges | 65/66B | €8,062 | €17,966 | +€9,904 | +122.8% |
| Recurring financial charges | 65 | €8,062 | €17,966 | +€9,904 | +122.8% |
| Profit (loss) for the period before taxes | 9903 | -€8,529,245 | -€2,002,563 | +€6.5m | +76.5% |
| Income taxes | 67/77 | €1,000 | €1,097 | +€97 | +9.7% |
| Profit (loss) for the period | 9904 | -€8,530,245 | -€2,003,660 | +€6.5m | +76.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,530,245 | -€2,003,660 | +€6.5m | +76.5% |
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 2 October 2026 via checked.be.