IMOBEL: 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.
IMOBEL
Largest movements
- Cash +€46,831
up €46,831 (+24.1%), from €194,416 to €241,246
mainly Depreciation (+€31,964) and Net result for the year (+€13,243)
- Tangible fixed assets -€31,964
down €31,964 (-7.9%), from €403,510 to €371,546
- Profit (loss) carried forward +€13,243
up €13,243 (+41.5%), from -€31,872 to -€18,629
- Gross operating margin +€14,066
up €14,066 (+33.4%), from €42,144 to €56,210
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.
Derived cash bridge
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 | €599,384 | €615,560 | +€16,176 | +2.7% |
| Fixed assets | 21/28 | €403,510 | €371,546 | -€31,964 | -7.9% |
| Tangible fixed assets | 22/27 | €403,510 | €371,546 | -€31,964 | -7.9% |
| Land and buildings | 22 | €403,510 | €371,546 | -€31,964 | -7.9% |
| Current assets | 29/58 | €195,875 | €244,014 | +€48,140 | +24.6% |
| Amounts receivable within one year | 40/41 | €193 | €1,494 | +€1,300 | +673% |
| Other amounts receivable | 41 | €193 | €1,494 | +€1,300 | +673% |
| Cash at bank and in hand | 54/58 | €194,416 | €241,246 | +€46,831 | +24.1% |
| Deferred charges and accrued income | 490/1 | €1,266 | €1,274 | +€9 | +0.7% |
| Total equity and liabilities | 10/49 | €599,384 | €615,560 | +€16,176 | +2.7% |
| Equity | 10/15 | €594,058 | €607,301 | +€13,243 | +2.2% |
| Contributions | 10/11 | €431,656 | €431,656 | = | 0.0% |
| Capital | 10 | €431,555 | €431,555 | = | 0.0% |
| Issued capital | 100 | €431,555 | €431,555 | = | 0.0% |
| Contributions outside capital | 11 | €102 | €102 | = | 0.0% |
| Share premium | 1100/10 | €102 | €102 | = | 0.0% |
| Reserves | 13 | €194,274 | €194,274 | = | 0.0% |
| Non-distributable reserves | 130/1 | €35,541 | €35,541 | = | 0.0% |
| Legal reserve | 130 | €35,541 | €35,541 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,660 | €8,660 | = | 0.0% |
| Distributable reserves | 133 | €150,073 | €150,073 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,872 | -€18,629 | +€13,243 | +41.5% |
| Amounts payable | 17/49 | €5,326 | €8,259 | +€2,933 | +55.1% |
| Amounts payable within one year | 42/48 | €5,326 | €5,407 | +€80 | +1.5% |
| Trade debts | 44 | €3,212 | €3,615 | +€403 | +12.6% |
| Suppliers | 440/4 | €3,212 | €3,615 | +€403 | +12.6% |
| Advances received on contracts in progress | 46 | €1,574 | €1,125 | -€449 | -28.5% |
| Other amounts payable | 47/48 | €541 | €667 | +€126 | +23.2% |
| Accrued charges and deferred income | 492/3 | €0 | €2,853 | +€2,853 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,687 | €31,964 | +€277 | +0.9% |
| Other operating charges | 640/8 | €10,467 | €10,885 | +€418 | +4.0% |
| Gross operating margin | 9900 | €42,144 | €56,210 | +€14,066 | +33.4% |
| Operating profit (loss) | 9901 | -€10 | €13,361 | +€13,371 | |
| Financial income | 75/76B | €15 | €500 | +€485 | +3,177% |
| Recurring financial income | 75 | €15 | €500 | +€485 | +3,177% |
| Financial charges | 65/66B | €664 | €618 | -€46 | -6.9% |
| Recurring financial charges | 65 | €664 | €618 | -€46 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | -€659 | €13,243 | +€13,902 | |
| Profit (loss) for the period | 9904 | -€659 | €13,243 | +€13,902 | |
| Profit (loss) for the period to be appropriated | 9905 | -€659 | €13,243 | +€13,902 |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.