IMOSAN: 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.
What changed
IMOSAN
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€19,368
2024 · €128,185-€108,817
Equity
€280,207
2024 · €260,839+€19,368
Cash
€103,124
2024 · €122,801-€19,677
Balance sheet total
€6.1m
2024 · €5.8m+€299,051
Largest movements
Assets
- Tangible fixed assets +€291,570
up €291,570 (+6.2%), from €4.7m to €5.0m
of which Land and buildings: +€295,650
Equity and liabilities
- Other debts +€350,347
up €350,347 (+8.9%), from €3.9m to €4.3m
- Debts after one year -€75,743
down €75,743 (-5.2%), from €1.5m to €1.4m
of which Financial debts: -€75,743
Income statement
- Gross operating margin -€142,270
down €142,270 (-38.2%), from €372,922 to €230,651
- Other operating charges +€9,180
up €9,180 (+41.3%), from €22,218 to €31,399
- Depreciation +€7,214
up €7,214 (+4.9%), from €146,087 to €153,301
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
€128,185
Gross operating margin
-€142,270
Depreciation
-€7,214
Other operating charges
-€9,180
Other operating items
+€13,000
Financial income
+€1,781
Financial charges
+€3,587
Taxes
+€75
Deferred taxes and other
+€31,404
Result 2025
€19,368
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
+€524,720
Investment
-€470,496
Financing
-€73,901
Cash 2024
€122,801
From operations (derived)
+€524,720
Net result for the year
+€19,368
Depreciation
+€153,301
Receivables within one year
-€2,085
Deferred charges and accrued income
+€553
Provisions
-€3,415
Trade debts
+€5,123
Other debts
+€350,347
Accrued charges and deferred income
+€1,528
Investment (derived)
-€470,496
Investment in fixed assets (net)
-€470,496
Financing
-€73,901
Debts after one year
-€75,743
Current portion of long-term debt
+€1,842
Cash 2025
€103,124
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,819,062 | €6,118,113 | +€299,051 | +5.1% |
| Fixed assets | 21/28 | €5,451,615 | €5,768,809 | +€317,195 | +5.8% |
| Tangible fixed assets | 22/27 | €4,740,764 | €5,032,333 | +€291,570 | +6.2% |
| Land and buildings | 22 | €4,551,442 | €4,847,091 | +€295,650 | +6.5% |
| Furniture and vehicles | 24 | €4,322 | €242 | -€4,080 | -94.4% |
| Assets under construction and advance payments | 27 | €185,000 | €185,000 | = | 0.0% |
| Financial fixed assets | 28 | €710,851 | €736,476 | +€25,625 | +3.6% |
| Current assets | 29/58 | €367,448 | €349,304 | -€18,144 | -4.9% |
| Amounts receivable within one year | 40/41 | €238,394 | €240,480 | +€2,085 | +0.9% |
| Trade receivables | 40 | €32 | €0 | -€32 | -100.0% |
| Other amounts receivable | 41 | €238,363 | €240,480 | +€2,117 | +0.9% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €122,801 | €103,124 | -€19,677 | -16.0% |
| Deferred charges and accrued income | 490/1 | €6,253 | €5,700 | -€553 | -8.8% |
| Total equity and liabilities | 10/49 | €5,819,062 | €6,118,113 | +€299,051 | +5.1% |
| Equity | 10/15 | €260,839 | €280,207 | +€19,368 | +7.4% |
| Contributions | 10/11 | €186,000 | €186,000 | = | 0.0% |
| Capital | 10 | €186,000 | €186,000 | = | 0.0% |
| Issued capital | 100 | €186,000 | €186,000 | = | 0.0% |
| Reserves | 13 | €314,681 | €304,436 | -€10,246 | -3.3% |
| Tax-exempt reserves | 132 | €314,681 | €304,436 | -€10,246 | -3.3% |
| Profit (loss) carried forward | 14 | -€239,843 | -€210,228 | +€29,614 | +12.3% |
| Provisions and deferred taxes | 16 | €104,894 | €101,479 | -€3,415 | -3.3% |
| Deferred taxes | 168 | €104,894 | €101,479 | -€3,415 | -3.3% |
| Amounts payable | 17/49 | €5,453,330 | €5,736,427 | +€283,098 | +5.2% |
| Amounts payable after more than one year | 17 | €1,455,131 | €1,379,388 | -€75,743 | -5.2% |
| Financial debts | 170/4 | €1,455,131 | €1,379,388 | -€75,743 | -5.2% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €3,996,471 | €4,353,783 | +€357,312 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €73,901 | €75,743 | +€1,842 | +2.5% |
| Trade debts | 44 | €3,075 | €8,198 | +€5,123 | +166.6% |
| Suppliers | 440/4 | €3,075 | €8,198 | +€5,123 | +166.6% |
| Other amounts payable | 47/48 | €3,919,496 | €4,269,843 | +€350,347 | +8.9% |
| Accrued charges and deferred income | 492/3 | €1,728 | €3,256 | +€1,528 | +88.5% |
| Non-recurring operating income | 76A | €172,433 | - | -€172,433 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146,087 | €153,301 | +€7,214 | +4.9% |
| Other operating charges | 640/8 | €22,218 | €31,399 | +€9,180 | +41.3% |
| Non-recurring operating charges | 66A | €13,000 | - | -€13,000 | |
| Gross operating margin | 9900 | €372,922 | €230,651 | -€142,270 | -38.2% |
| Operating profit (loss) | 9901 | €191,616 | €45,952 | -€145,664 | -76.0% |
| Financial income | 75/76B | €5,756 | €7,537 | +€1,781 | +30.9% |
| Recurring financial income | 75 | €5,756 | €7,537 | +€1,781 | +30.9% |
| Financial charges | 65/66B | €40,987 | €37,400 | -€3,587 | -8.8% |
| Recurring financial charges | 65 | €40,987 | €37,400 | -€3,587 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €156,385 | €16,089 | -€140,296 | -89.7% |
| Transfer from deferred taxes | 780 | €4,196 | €3,415 | -€780 | -18.6% |
| Transfer to deferred taxes | 680 | €32,184 | - | -€32,184 | |
| Income taxes | 67/77 | €211 | €136 | -€75 | -35.7% |
| Profit (loss) for the period | 9904 | €128,185 | €19,368 | -€108,817 | -84.9% |
| Transfer from tax-exempt reserves | 789 | €12,587 | €10,246 | -€2,341 | -18.6% |
| Transfer to tax-exempt reserves | 689 | €96,553 | - | -€96,553 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,219 | €29,614 | -€14,605 | -33.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.