Immoward: 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
Immoward
NACE 01.500, Mixed farming
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€143,640
2023 · -€666,775+€523,135
Equity
€17.3m
2023 · €17.5m-€225,923
Cash
€447,554
2023 · €849,735-€402,181
Balance sheet total
€20.6m
2023 · €20.8m-€208,659
Largest movements
Assets
- Cash -€402,181
down €402,181 (-47.3%), from €849,735 to €447,554
mainly Investment in fixed assets (net) (-€758,718) and Current investments (-€265,833)
- Current investments +€265,833
up €265,833 (+6.0%), from €4.4m to €4.7m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income +€890,030
up €890,030 (+287.2%), from €309,948 to €1.2m
- Gross operating margin -€252,293
down €252,293 (-79.7%), from €316,615 to €64,323
- Depreciation +€61,285
up €61,285 (+7.8%), from €781,776 to €843,061
- Staff costs +€46,214
up €46,214 (+15.6%), from €296,241 to €342,456
- Other operating charges +€43,657
up €43,657 (+48.6%), from €89,782 to €133,439
From the 2023 result to the 2024 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 2023
-€666,775
Gross operating margin
-€252,293
Staff costs
-€46,214
Depreciation
-€61,285
Other operating charges
-€43,657
Financial income
+€890,030
Financial charges
+€36,686
Taxes
-€132
Result 2024
-€143,640
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€704,653
Investment
-€1.0m
Financing
-€82,283
Cash 2023
€849,735
From operations (derived)
+€704,653
Net result for the year
-€143,640
Depreciation
+€843,061
Receivables within one year
-€16,713
Deferred charges and accrued income
+€4,681
Trade debts
-€23,527
Tax, wage and social debts
-€5,865
Advances received
+€48,460
Smaller working-capital items
-€1,805
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€758,718
Current investments
-€265,833
Financing
-€82,283
Contributions, distributions and other
-€82,283
Cash 2024
€447,554
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,774,995 | €20,566,335 | -€208,659 | -1.0% |
| Fixed assets | 21/28 | €15,311,066 | €15,226,723 | -€84,343 | -0.6% |
| Tangible fixed assets | 22/27 | €15,310,694 | €15,226,351 | -€84,343 | -0.6% |
| Land and buildings | 22 | €15,265,886 | €15,182,184 | -€83,701 | -0.5% |
| Plant, machinery and equipment | 23 | €18,354 | €24,397 | +€6,044 | +32.9% |
| Furniture and vehicles | 24 | €26,455 | €19,769 | -€6,686 | -25.3% |
| Financial fixed assets | 28 | €372 | €372 | = | 0.0% |
| Current assets | 29/58 | €5,463,928 | €5,339,612 | -€124,316 | -2.3% |
| Amounts receivable within one year | 40/41 | €149,998 | €166,711 | +€16,713 | +11.1% |
| Trade receivables | 40 | €33,625 | €34,841 | +€1,216 | +3.6% |
| Other amounts receivable | 41 | €116,373 | €131,870 | +€15,497 | +13.3% |
| Current investments | 50/53 | €4,443,425 | €4,709,258 | +€265,833 | +6.0% |
| Cash at bank and in hand | 54/58 | €849,735 | €447,554 | -€402,181 | -47.3% |
| Deferred charges and accrued income | 490/1 | €20,771 | €16,089 | -€4,681 | -22.5% |
| Total equity and liabilities | 10/49 | €20,774,995 | €20,566,335 | -€208,659 | -1.0% |
| Equity | 10/15 | €17,510,034 | €17,284,111 | -€225,923 | -1.3% |
| Contributions | 10/11 | €21,751,284 | €21,751,284 | = | 0.0% |
| Capital | 10 | €21,751,284 | €21,751,284 | = | 0.0% |
| Issued capital | 100 | €21,751,284 | €21,751,284 | = | 0.0% |
| Revaluation surpluses | 12 | €63,282 | €63,282 | = | 0.0% |
| Reserves | 13 | €7,045 | €7,045 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,829 | €6,829 | = | 0.0% |
| Legal reserve | 130 | €3,357 | €3,357 | = | 0.0% |
| Other | 1319 | €3,471 | €3,471 | = | 0.0% |
| Tax-exempt reserves | 132 | €216 | €216 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,558,426 | -€4,702,066 | -€143,640 | -3.2% |
| Investment grants | 15 | €246,849 | €164,566 | -€82,283 | -33.3% |
| Amounts payable | 17/49 | €3,264,961 | €3,282,224 | +€17,263 | +0.5% |
| Amounts payable within one year | 42/48 | €3,263,886 | €3,281,105 | +€17,219 | +0.5% |
| Trade debts | 44 | €193,894 | €170,367 | -€23,527 | -12.1% |
| Suppliers | 440/4 | €193,894 | €170,367 | -€23,527 | -12.1% |
| Advances received on contracts in progress | 46 | €53,354 | €101,814 | +€48,460 | +90.8% |
| Taxes, remuneration and social security | 45 | €64,424 | €58,559 | -€5,865 | -9.1% |
| Taxes | 450/3 | €31,726 | €11,535 | -€20,192 | -63.6% |
| Remuneration and social security | 454/9 | €32,698 | €47,024 | +€14,327 | +43.8% |
| Other amounts payable | 47/48 | €2,952,214 | €2,950,365 | -€1,849 | -0.1% |
| Accrued charges and deferred income | 492/3 | €1,075 | €1,119 | +€44 | +4.1% |
| Remuneration, social security and pensions | 62 | €296,241 | €342,456 | +€46,214 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €781,776 | €843,061 | +€61,285 | +7.8% |
| Other operating charges | 640/8 | €89,782 | €133,439 | +€43,657 | +48.6% |
| Gross operating margin | 9900 | €316,615 | €64,323 | -€252,293 | -79.7% |
| Operating profit (loss) | 9901 | -€851,184 | -€1,254,633 | -€403,449 | -47.4% |
| Financial income | 75/76B | €309,948 | €1,199,978 | +€890,030 | +287.2% |
| Recurring financial income | 75 | €309,948 | €1,199,978 | +€890,030 | +287.2% |
| Financial charges | 65/66B | €125,295 | €88,609 | -€36,686 | -29.3% |
| Recurring financial charges | 65 | €125,295 | €88,609 | -€36,686 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | -€666,531 | -€143,264 | +€523,267 | +78.5% |
| Income taxes | 67/77 | €243 | €375 | +€132 | +54.3% |
| Profit (loss) for the period | 9904 | -€666,775 | -€143,640 | +€523,135 | +78.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€666,775 | -€143,640 | +€523,135 | +78.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.