IMOBE: 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.
IMOBE
Largest movements
- Receivables within one year -€13.7m
down €13.7m (-95.8%), from €14.3m to €604,586
of which Other amounts receivable: -€13.8m
- Receivables after one year +€12.5m
new in 2025: €12.5m
- Tangible fixed assets -€2.3m
down €2.3m (-4.9%), from €47.1m to €44.8m
of which Land and buildings: -€2.4m
- Current investments -€1.5m
no longer reported in 2025 (was €1.5m)
- Other debts -€1.8m
down €1.8m (-42.0%), from €4.3m to €2.5m
- Revaluation surpluses -€1.0m
down €1.0m (-3.4%), from €30.2m to €29.2m
- Reserves -€741,808
down €741,808 (-86.6%), from €856,272 to €114,464
of which Distributable reserves: -€741,808
- Debts after one year -€647,522
down €647,522 (-2.6%), from €25.3m to €24.6m
of which Financial debts: -€647,522
- Financial charges -€193,484
down €193,484 (-20.0%), from €968,323 to €774,839
- Financial income -€104,193
down €104,193 (-23.0%), from €452,833 to €348,640
- Gross operating margin +€86,236
up €86,236 (+1.8%), from €4.7m to €4.8m
- Depreciation -€59,579
down €59,579 (-2.6%), from €2.3m to €2.3m
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 | €63,967,316 | €58,844,470 | -€5.1m | -8.0% |
| Fixed assets | 21/28 | €47,135,060 | €44,828,171 | -€2.3m | -4.9% |
| Tangible fixed assets | 22/27 | €47,132,660 | €44,825,771 | -€2.3m | -4.9% |
| Land and buildings | 22 | €46,932,348 | €44,543,398 | -€2.4m | -5.1% |
| Plant, machinery and equipment | 23 | - | €112,563 | +€112,563 | |
| Other tangible fixed assets | 26 | €200,312 | €169,810 | -€30,502 | -15.2% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €16,832,257 | €14,016,299 | -€2.8m | -16.7% |
| Amounts receivable after more than one year | 29 | - | €12,524,513 | +€12.5m | |
| Other amounts receivable | 291 | - | €12,524,513 | +€12.5m | |
| Amounts receivable within one year | 40/41 | €14,320,911 | €604,586 | -€13.7m | -95.8% |
| Trade receivables | 40 | €493,347 | €601,918 | +€108,572 | +22.0% |
| Other amounts receivable | 41 | €13,827,565 | €2,667 | -€13.8m | -100.0% |
| Current investments | 50/53 | €1,530,000 | - | -€1.5m | |
| Cash at bank and in hand | 54/58 | €532,453 | €538,952 | +€6,499 | +1.2% |
| Deferred charges and accrued income | 490/1 | €448,893 | €348,248 | -€100,645 | -22.4% |
| Total equity and liabilities | 10/49 | €63,967,316 | €58,844,470 | -€5.1m | -8.0% |
| Equity | 10/15 | €31,367,692 | €29,589,931 | -€1.8m | -5.7% |
| Contributions | 10/11 | €269,500 | €269,500 | = | 0.0% |
| Capital | 10 | €269,500 | €269,500 | = | 0.0% |
| Issued capital | 100 | €269,500 | €269,500 | = | 0.0% |
| Revaluation surpluses | 12 | €30,241,919 | €29,205,967 | -€1.0m | -3.4% |
| Reserves | 13 | €856,272 | €114,464 | -€741,808 | -86.6% |
| Non-distributable reserves | 130/1 | €26,950 | €26,950 | = | 0.0% |
| Legal reserve | 130 | €26,950 | €26,950 | = | 0.0% |
| Distributable reserves | 133 | €829,322 | €87,514 | -€741,808 | -89.4% |
| Amounts payable | 17/49 | €32,599,625 | €29,254,538 | -€3.3m | -10.3% |
| Amounts payable after more than one year | 17 | €25,264,132 | €24,616,610 | -€647,522 | -2.6% |
| Financial debts | 170/4 | €25,217,380 | €24,569,858 | -€647,522 | -2.6% |
| Other amounts payable | 178/9 | €46,752 | €46,752 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,674,453 | €3,414,971 | -€2.3m | -39.8% |
| Current portion of amounts payable after more than one year | 42 | €647,522 | €647,522 | = | 0.0% |
| Trade debts | 44 | €389,655 | €144,863 | -€244,792 | -62.8% |
| Suppliers | 440/4 | €389,655 | €144,863 | -€244,792 | -62.8% |
| Advances received on contracts in progress | 46 | €53,920 | €72,604 | +€18,684 | +34.7% |
| Taxes, remuneration and social security | 45 | €269,519 | €49,982 | -€219,537 | -81.5% |
| Taxes | 450/3 | €269,519 | €49,982 | -€219,537 | -81.5% |
| Other amounts payable | 47/48 | €4,313,837 | €2,500,000 | -€1.8m | -42.0% |
| Accrued charges and deferred income | 492/3 | €1,661,040 | €1,222,958 | -€438,082 | -26.4% |
| Non-recurring operating income | 76A | €5,131 | - | -€5,131 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,331,340 | €2,271,761 | -€59,579 | -2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €27,161 | +€27,161 | |
| Other operating charges | 640/8 | €721,398 | €745,724 | +€24,325 | +3.4% |
| Non-recurring operating charges | 66A | €2,000 | - | -€2,000 | |
| Gross operating margin | 9900 | €4,679,361 | €4,765,597 | +€86,236 | +1.8% |
| Operating profit (loss) | 9901 | €1,624,623 | €1,720,951 | +€96,328 | +5.9% |
| Financial income | 75/76B | €452,833 | €348,640 | -€104,193 | -23.0% |
| Recurring financial income | 75 | €452,833 | €348,640 | -€104,193 | -23.0% |
| Financial charges | 65/66B | €968,323 | €774,839 | -€193,484 | -20.0% |
| Recurring financial charges | 65 | €968,323 | €774,839 | -€193,484 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €1,109,133 | €1,294,752 | +€185,619 | +16.7% |
| Income taxes | 67/77 | €553,321 | €572,512 | +€19,191 | +3.5% |
| Profit (loss) for the period | 9904 | €555,812 | €722,240 | +€166,428 | +29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €555,812 | €722,240 | +€166,428 | +29.9% |
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 6 October 2026 via checked.be.