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.
What changed
IMMODES
NACE 81.100, Combined facilities support activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€18,784
2024 · €47,343-€66,127
Equity
€2.6m
2024 · €2.6m-€18,784
Cash
€595,245
2024 · €505,185+€90,059
Balance sheet total
€3.4m
2024 · €3.5m-€23,937
Largest movements
Assets
- Tangible fixed assets -€131,718
down €131,718 (-4.7%), from €2.8m to €2.7m
of which Land and buildings: -€115,852
- Cash +€90,059
up €90,059 (+17.8%), from €505,185 to €595,245
mainly Depreciation (+€181,807) and Other debts (+€27,347)
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Gross operating margin -€111,719
down €111,719 (-32.3%), from €346,267 to €234,548
- Taxes -€25,256
down €25,256 (-91.6%), from €27,573 to €2,317
- Depreciation -€18,100
down €18,100 (-9.1%), from €199,907 to €181,807
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
€47,343
Gross operating margin
-€111,719
Depreciation
+€18,100
Other operating charges
-€360
Financial income
+€501
Financial charges
+€2,096
Taxes
+€25,256
Result 2025
-€18,784
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
+€167,659
Investment
-€47,849
Financing
-€29,750
Cash 2024
€505,185
From operations (derived)
+€167,659
Net result for the year
-€18,784
Depreciation
+€181,807
Receivables within one year
-€8,505
Deferred charges and accrued income
-€11,457
Provisions
-€8,445
Trade debts
+€13,569
Tax, wage and social debts
-€4,554
Other debts
+€27,347
Accrued charges and deferred income
-€3,319
Investment (derived)
-€47,849
Investment in fixed assets (net)
-€50,089
Current investments
+€2,239
Financing
-€29,750
Debts after one year
-€15,000
Current portion of long-term debt
-€14,750
Cash 2025
€595,245
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,456,189 | €3,432,252 | -€23,937 | -0.7% |
| Fixed assets | 21/28 | €2,815,268 | €2,683,550 | -€131,718 | -4.7% |
| Tangible fixed assets | 22/27 | €2,814,667 | €2,682,948 | -€131,718 | -4.7% |
| Land and buildings | 22 | €2,784,349 | €2,668,496 | -€115,852 | -4.2% |
| Plant, machinery and equipment | 23 | €10,897 | €5,980 | -€4,917 | -45.1% |
| Furniture and vehicles | 24 | €19,421 | €8,472 | -€10,949 | -56.4% |
| Financial fixed assets | 28 | €602 | €602 | = | 0.0% |
| Current assets | 29/58 | €640,921 | €748,703 | +€107,782 | +16.8% |
| Amounts receivable within one year | 40/41 | €0 | €8,505 | +€8,505 | |
| Trade receivables | 40 | €0 | €19 | +€19 | |
| Other amounts receivable | 41 | €0 | €8,486 | +€8,486 | |
| Current investments | 50/53 | €130,738 | €128,499 | -€2,239 | -1.7% |
| Cash at bank and in hand | 54/58 | €505,185 | €595,245 | +€90,059 | +17.8% |
| Deferred charges and accrued income | 490/1 | €4,998 | €16,455 | +€11,457 | +229.3% |
| Total equity and liabilities | 10/49 | €3,456,189 | €3,432,252 | -€23,937 | -0.7% |
| Equity | 10/15 | €2,646,370 | €2,627,585 | -€18,784 | -0.7% |
| Contributions | 10/11 | €153,037 | €153,037 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Outside capital | 11 | €28,037 | €28,037 | = | 0.0% |
| Share premium | 1100/10 | €28,037 | €28,037 | = | 0.0% |
| Revaluation surpluses | 12 | €47,506 | €47,506 | = | 0.0% |
| Reserves | 13 | €2,445,827 | €2,427,043 | -€18,784 | -0.8% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €457,025 | €433,485 | -€23,540 | -5.2% |
| Distributable reserves | 133 | €1,976,302 | €1,981,058 | +€4,756 | +0.2% |
| Provisions and deferred taxes | 16 | €163,353 | €154,909 | -€8,445 | -5.2% |
| Deferred taxes | 168 | €163,353 | €154,909 | -€8,445 | -5.2% |
| Amounts payable | 17/49 | €646,466 | €649,758 | +€3,292 | +0.5% |
| Amounts payable after more than one year | 17 | €523,946 | €508,946 | -€15,000 | -2.9% |
| Financial debts | 170/4 | €33,750 | €18,750 | -€15,000 | -44.4% |
| Other amounts payable | 178/9 | €490,196 | €490,196 | = | 0.0% |
| Amounts payable within one year | 42/48 | €80,520 | €102,131 | +€21,612 | +26.8% |
| Current portion of amounts payable after more than one year | 42 | €29,750 | €15,000 | -€14,750 | -49.6% |
| Trade debts | 44 | €3,403 | €16,972 | +€13,569 | +398.8% |
| Suppliers | 440/4 | €3,403 | €16,972 | +€13,569 | +398.8% |
| Taxes, remuneration and social security | 45 | €4,976 | €421 | -€4,554 | -91.5% |
| Taxes | 450/3 | €4,976 | €421 | -€4,554 | -91.5% |
| Other amounts payable | 47/48 | €42,391 | €69,738 | +€27,347 | +64.5% |
| Accrued charges and deferred income | 492/3 | €42,000 | €38,681 | -€3,319 | -7.9% |
| Non-recurring operating income | 76A | €106,640 | €0 | -€106,640 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199,907 | €181,807 | -€18,100 | -9.1% |
| Other operating charges | 640/8 | €37,278 | €37,638 | +€360 | +1.0% |
| Gross operating margin | 9900 | €346,267 | €234,548 | -€111,719 | -32.3% |
| Operating profit (loss) | 9901 | €109,082 | €15,102 | -€93,980 | -86.2% |
| Financial income | 75/76B | €2,187 | €2,688 | +€501 | +22.9% |
| Recurring financial income | 75 | €2,187 | €2,688 | +€501 | +22.9% |
| Financial charges | 65/66B | €44,798 | €42,703 | -€2,096 | -4.7% |
| Recurring financial charges | 65 | €44,798 | €42,703 | -€2,096 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €66,471 | -€24,912 | -€91,383 | |
| Transfer from deferred taxes | 780 | €8,445 | €8,445 | = | 0.0% |
| Income taxes | 67/77 | €27,573 | €2,317 | -€25,256 | -91.6% |
| Profit (loss) for the period | 9904 | €47,343 | -€18,784 | -€66,127 | |
| Transfer from tax-exempt reserves | 789 | €23,540 | €23,540 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €70,883 | €4,756 | -€66,127 | -93.3% |
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 28 September 2026 via checked.be.