IMMOZAC: 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.
IMMOZAC
Largest movements
- Cash +€118,948
up €118,948 (+3077.6%), from €3,865 to €122,813
mainly Depreciation (+€82,407) and Net result for the year (+€78,716)
- Tangible fixed assets -€107,844
down €107,844 (-14.4%), from €750,714 to €642,870
- Reserves +€80,271
up €80,271 (+91.6%), from €87,657 to €167,927
of which Tax-exempt reserves: +€80,271
- Other debts -€41,544
down €41,544 (-73.2%), from €56,790 to €15,246
- Debts after one year -€27,181
down €27,181 (-12.9%), from €210,440 to €183,259
of which Financial debts: -€27,181
- Provisions +€24,984
up €24,984 (+83.3%), from €29,983 to €54,967
- Current portion of long-term debt -€16,092
down €16,092 (-37.5%), from €42,900 to €26,808
- Gross operating margin +€95,375
up €95,375 (+88.0%), from €108,375 to €203,750
- Other operating charges -€15,321
down €15,321 (-71.7%), from €21,383 to €6,062
- Write-downs +€8,494
new in 2025: €8,494
- Depreciation +€4,085
up €4,085 (+5.2%), from €78,322 to €82,407
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 | €769,961 | €780,004 | +€10,043 | +1.3% |
| Fixed assets | 21/28 | €752,255 | €644,410 | -€107,844 | -14.3% |
| Tangible fixed assets | 22/27 | €750,714 | €642,870 | -€107,844 | -14.4% |
| Land and buildings | 22 | €750,714 | €642,870 | -€107,844 | -14.4% |
| Financial fixed assets | 28 | €1,540 | €1,540 | = | 0.0% |
| Current assets | 29/58 | €17,707 | €135,594 | +€117,887 | +665.8% |
| Amounts receivable within one year | 40/41 | €13,498 | €12,437 | -€1,060 | -7.9% |
| Trade receivables | 40 | €2,996 | - | -€2,996 | |
| Other amounts receivable | 41 | €10,502 | €12,437 | +€1,936 | +18.4% |
| Cash at bank and in hand | 54/58 | €3,865 | €122,813 | +€118,948 | +3077.6% |
| Deferred charges and accrued income | 490/1 | €344 | €344 | = | 0.0% |
| Total equity and liabilities | 10/49 | €769,961 | €780,004 | +€10,043 | +1.3% |
| Equity | 10/15 | €351,793 | €433,033 | +€81,240 | +23.1% |
| Contributions | 10/11 | €62,248 | €62,248 | = | 0.0% |
| Capital | 10 | €62,248 | €62,248 | = | 0.0% |
| Issued capital | 100 | €62,248 | €62,248 | = | 0.0% |
| Revaluation surpluses | 12 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €87,657 | €167,927 | +€80,271 | +91.6% |
| Non-distributable reserves | 130/1 | €6,225 | €6,225 | = | 0.0% |
| Legal reserve | 130 | €6,225 | €6,225 | = | 0.0% |
| Tax-exempt reserves | 132 | €80,755 | €161,026 | +€80,271 | +99.4% |
| Distributable reserves | 133 | €677 | €677 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,889 | €2,858 | +€969 | +51.3% |
| Provisions and deferred taxes | 16 | €29,983 | €54,967 | +€24,984 | +83.3% |
| Deferred taxes | 168 | €29,983 | €54,967 | +€24,984 | +83.3% |
| Amounts payable | 17/49 | €388,186 | €292,005 | -€96,181 | -24.8% |
| Amounts payable after more than one year | 17 | €210,440 | €183,259 | -€27,181 | -12.9% |
| Financial debts | 170/4 | €139,842 | €112,661 | -€27,181 | -19.4% |
| Other amounts payable | 178/9 | €70,598 | €70,598 | = | 0.0% |
| Amounts payable within one year | 42/48 | €177,746 | €108,746 | -€69,000 | -38.8% |
| Current portion of amounts payable after more than one year | 42 | €42,900 | €26,808 | -€16,092 | -37.5% |
| Trade debts | 44 | €75,256 | €66,692 | -€8,564 | -11.4% |
| Suppliers | 440/4 | €75,256 | €66,692 | -€8,564 | -11.4% |
| Taxes, remuneration and social security | 45 | €2,800 | - | -€2,800 | |
| Taxes | 450/3 | €2,800 | - | -€2,800 | |
| Other amounts payable | 47/48 | €56,790 | €15,246 | -€41,544 | -73.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,322 | €82,407 | +€4,085 | +5.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,494 | +€8,494 | |
| Other operating charges | 640/8 | €21,383 | €6,062 | -€15,321 | -71.7% |
| Gross operating margin | 9900 | €108,375 | €203,750 | +€95,375 | +88.0% |
| Operating profit (loss) | 9901 | €8,670 | €106,788 | +€98,118 | +1131.7% |
| Financial charges | 65/66B | €4,519 | €3,087 | -€1,431 | -31.7% |
| Recurring financial charges | 65 | €4,519 | €3,087 | -€1,431 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €4,151 | €103,700 | +€99,549 | +2398.0% |
| Transfer from deferred taxes | 780 | €5,355 | €5,963 | +€608 | +11.4% |
| Transfer to deferred taxes | 680 | - | €30,947 | +€30,947 | |
| Profit (loss) for the period | 9904 | €9,506 | €78,716 | +€69,210 | +728.0% |
| Transfer from tax-exempt reserves | 789 | €13,270 | €15,095 | +€1,825 | +13.8% |
| Transfer to tax-exempt reserves | 689 | - | €92,842 | +€92,842 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,776 | €969 | -€21,807 | -95.7% |
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 8 October 2026 via checked.be.