Imvopo: 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
Imvopo
NACE 68.121, Development of residential building projects
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€128,042
2024 · €170,496-€42,455
Equity
€5.2m
2024 · €5.1m+€128,042
Cash
€4,621
2024 · €33,230-€28,609
Balance sheet total
€9.9m
2024 · €11.1m-€1.2m
Largest movements
Assets
- Current investments -€1.3m
down €1.3m (-95.9%), from €1.4m to €57,139
- Receivables after one year +€223,590
up €223,590 (+3.8%), from €5.9m to €6.2m
Equity and liabilities
- Debts after one year -€1.3m
down €1.3m (-24.2%), from €5.5m to €4.2m
of which Financial debts: -€1.3m
- Profit (loss) carried forward +€146,215
up €146,215 (+12.4%), from €1.2m to €1.3m
Income statement
- Financial income -€105,053
down €105,053 (-37.4%), from €280,845 to €175,792
- Gross operating margin +€54,550
up €54,550 (+30.1%), from €181,501 to €236,051
- Financial charges -€41,252
down €41,252 (-94.8%), from €43,527 to €2,275
- Taxes +€23,679
up €23,679 (+109.7%), from €21,593 to €45,273
- Other operating charges +€8,100
up €8,100 (+14.8%), from €54,575 to €62,675
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
€170,496
Gross operating margin
+€54,550
Depreciation
-€1,964
Other operating charges
-€8,100
Financial income
-€105,053
Financial charges
+€41,252
Taxes
-€23,679
Deferred taxes and other
+€540
Result 2025
€128,042
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
+€62,589
Investment
+€1.2m
Financing
-€1.3m
Cash 2024
€33,230
From operations (derived)
+€62,589
Net result for the year
+€128,042
Depreciation
+€179,636
Receivables after one year
-€223,590
Receivables within one year
-€12,636
Smaller working-capital items
-€5,614
Provisions
-€6,058
Trade debts
+€9,096
Tax, wage and social debts
+€25,621
Other debts
-€31,909
Investment (derived)
+€1.2m
Investment in fixed assets (net)
-€94,020
Current investments
+€1.3m
Financing
-€1.3m
Debts after one year
-€1.3m
Short-term financial debts
+€2,168
Cash 2025
€4,621
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,062,018 | €9,852,894 | -€1.2m | -10.9% |
| Fixed assets | 21/28 | €3,679,371 | €3,593,754 | -€85,617 | -2.3% |
| Tangible fixed assets | 22/27 | €2,093,007 | €2,007,390 | -€85,617 | -4.1% |
| Land and buildings | 22 | €1,955,997 | €1,905,259 | -€50,738 | -2.6% |
| Plant, machinery and equipment | 23 | €2,025 | €1,567 | -€458 | -22.6% |
| Furniture and vehicles | 24 | €134,985 | €100,565 | -€34,421 | -25.5% |
| Financial fixed assets | 28 | €1,586,364 | €1,586,364 | = | 0.0% |
| Current assets | 29/58 | €7,382,647 | €6,259,140 | -€1.1m | -15.2% |
| Amounts receivable after more than one year | 29 | €5,930,091 | €6,153,681 | +€223,590 | +3.8% |
| Other amounts receivable | 291 | €5,930,091 | €6,153,681 | +€223,590 | +3.8% |
| Amounts receivable within one year | 40/41 | €16,669 | €29,304 | +€12,636 | +75.8% |
| Trade receivables | 40 | €14,423 | €20,877 | +€6,453 | +44.7% |
| Other amounts receivable | 41 | €2,245 | €8,428 | +€6,182 | +275.3% |
| Current investments | 50/53 | €1,391,238 | €57,139 | -€1.3m | -95.9% |
| Cash at bank and in hand | 54/58 | €33,230 | €4,621 | -€28,609 | -86.1% |
| Deferred charges and accrued income | 490/1 | €11,419 | €14,395 | +€2,975 | +26.1% |
| Total equity and liabilities | 10/49 | €11,062,018 | €9,852,894 | -€1.2m | -10.9% |
| Equity | 10/15 | €5,114,147 | €5,242,188 | +€128,042 | +2.5% |
| Contributions | 10/11 | €3,196,042 | €3,196,042 | = | 0.0% |
| Capital | 10 | €3,166,025 | €3,166,025 | = | 0.0% |
| Issued capital | 100 | €3,166,025 | €3,166,025 | = | 0.0% |
| Contributions outside capital | 11 | €30,018 | €30,018 | = | 0.0% |
| Share premium | 1100/10 | €30,018 | €30,018 | = | 0.0% |
| Reserves | 13 | €735,066 | €716,893 | -€18,173 | -2.5% |
| Non-distributable reserves | 130/1 | €158,700 | €158,700 | = | 0.0% |
| Legal reserve | 130 | €158,700 | €158,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €562,472 | €544,299 | -€18,173 | -3.2% |
| Distributable reserves | 133 | €13,894 | €13,894 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,183,039 | €1,329,253 | +€146,215 | +12.4% |
| Provisions and deferred taxes | 16 | €339,444 | €333,387 | -€6,058 | -1.8% |
| Provisions for liabilities and charges | 160/5 | €202,846 | €202,846 | = | 0.0% |
| Pensions and similar obligations | 160 | €202,846 | €202,846 | = | 0.0% |
| Deferred taxes | 168 | €136,599 | €130,541 | -€6,058 | -4.4% |
| Amounts payable | 17/49 | €5,608,427 | €4,277,319 | -€1.3m | -23.7% |
| Amounts payable after more than one year | 17 | €5,509,750 | €4,176,305 | -€1.3m | -24.2% |
| Financial debts | 170/4 | €5,500,000 | €4,166,555 | -€1.3m | -24.2% |
| Other amounts payable | 178/9 | €9,750 | €9,750 | = | 0.0% |
| Amounts payable within one year | 42/48 | €89,976 | €94,952 | +€4,976 | +5.5% |
| Financial debts | 43 | €885 | €3,053 | +€2,168 | +244.8% |
| Credit institutions | 430/8 | €885 | €3,053 | +€2,168 | +244.8% |
| Trade debts | 44 | €25,607 | €34,703 | +€9,096 | +35.5% |
| Suppliers | 440/4 | €25,607 | €34,703 | +€9,096 | +35.5% |
| Taxes, remuneration and social security | 45 | €20,513 | €46,134 | +€25,621 | +124.9% |
| Taxes | 450/3 | €20,513 | €46,134 | +€25,621 | +124.9% |
| Other amounts payable | 47/48 | €42,971 | €11,062 | -€31,909 | -74.3% |
| Accrued charges and deferred income | 492/3 | €8,700 | €6,062 | -€2,639 | -30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €177,673 | €179,636 | +€1,964 | +1.1% |
| Other operating charges | 640/8 | €54,575 | €62,675 | +€8,100 | +14.8% |
| Gross operating margin | 9900 | €181,501 | €236,051 | +€54,550 | +30.1% |
| Operating profit (loss) | 9901 | -€50,746 | -€6,260 | +€44,486 | +87.7% |
| Financial income | 75/76B | €280,845 | €175,792 | -€105,053 | -37.4% |
| Recurring financial income | 75 | €280,845 | €175,792 | -€105,053 | -37.4% |
| Financial charges | 65/66B | €43,527 | €2,275 | -€41,252 | -94.8% |
| Recurring financial charges | 65 | €43,527 | €2,275 | -€41,252 | -94.8% |
| Profit (loss) for the period before taxes | 9903 | €186,572 | €167,257 | -€19,315 | -10.4% |
| Transfer from deferred taxes | 780 | €5,518 | €6,058 | +€540 | +9.8% |
| Income taxes | 67/77 | €21,593 | €45,273 | +€23,679 | +109.7% |
| Profit (loss) for the period | 9904 | €170,496 | €128,042 | -€42,455 | -24.9% |
| Transfer from tax-exempt reserves | 789 | €16,553 | €18,173 | +€1,620 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €187,049 | €146,215 | -€40,835 | -21.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.