IMMODAN: 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
IMMODAN
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€27,451
2024 · -€33,089+€5,637
Equity
€200,209
2024 · €227,660-€27,451
Cash
€179,476
2024 · €387,748-€208,272
Balance sheet total
€2.7m
2024 · €2.9m-€180,356
Largest movements
Assets
- Cash -€208,272
down €208,272 (-53.7%), from €387,748 to €179,476
mainly Other debts (-€142,104) and Receivables within one year (-€28,226)
Equity and liabilities
- Other debts -€142,104
down €142,104 (-5.3%), from €2.7m to €2.5m
Income statement
No income-statement line moved by more than 1% of the activity.
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
-€33,089
Other operating charges
-€12
Other operating items
+€5,120
Financial income
-€1,340
Financial charges
+€1,870
Result 2025
-€27,451
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€208,272
Investment
€0
Financing
€0
Cash 2024
€387,748
From operations (derived)
-€208,272
Net result for the year
-€27,451
Receivables within one year
-€28,226
Smaller working-capital items
+€218
Trade debts
-€10,709
Other debts
-€142,104
Cash 2025
€179,476
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,906,273 | €2,725,917 | -€180,356 | -6.2% |
| Fixed assets | 21/28 | €2,142,130 | €2,142,130 | = | 0.0% |
| Tangible fixed assets | 22/27 | €349,469 | €349,469 | = | 0.0% |
| Land and buildings | 22 | €349,469 | €349,469 | = | 0.0% |
| Financial fixed assets | 28 | €1,792,661 | €1,792,661 | = | 0.0% |
| Affiliated companies | 280/1 | €1,792,661 | €1,792,661 | = | 0.0% |
| Participating interests | 280 | €1,792,661 | €1,792,661 | = | 0.0% |
| Current assets | 29/58 | €764,143 | €583,787 | -€180,356 | -23.6% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €350,929 | €379,155 | +€28,226 | +8.0% |
| Other amounts receivable | 41 | €350,929 | €379,155 | +€28,226 | +8.0% |
| Cash at bank and in hand | 54/58 | €387,748 | €179,476 | -€208,272 | -53.7% |
| Deferred charges and accrued income | 490/1 | €25,466 | €25,156 | -€310 | -1.2% |
| Total equity and liabilities | 10/49 | €2,906,273 | €2,725,917 | -€180,356 | -6.2% |
| Equity | 10/15 | €227,660 | €200,209 | -€27,451 | -12.1% |
| Contributions | 10/11 | €62,370 | €62,370 | = | 0.0% |
| Capital | 10 | €62,370 | €62,370 | = | 0.0% |
| Issued capital | 100 | €62,370 | €62,370 | = | 0.0% |
| Reserves | 13 | €165,290 | €137,838 | -€27,451 | -16.6% |
| Non-distributable reserves | 130/1 | €6,237 | €6,237 | = | 0.0% |
| Legal reserve | 130 | €6,237 | €6,237 | = | 0.0% |
| Distributable reserves | 133 | €159,053 | €131,601 | -€27,451 | -17.3% |
| Amounts payable | 17/49 | €2,678,613 | €2,525,709 | -€152,904 | -5.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,678,402 | €2,525,590 | -€152,813 | -5.7% |
| Trade debts | 44 | €12,100 | €1,392 | -€10,709 | -88.5% |
| Suppliers | 440/4 | €12,100 | €1,392 | -€10,709 | -88.5% |
| Other amounts payable | 47/48 | €2,666,302 | €2,524,198 | -€142,104 | -5.3% |
| Accrued charges and deferred income | 492/3 | €211 | €119 | -€92 | -43.5% |
| Operating income | 70/76A | €69,675 | €71,245 | +€1,571 | +2.3% |
| Other operating income | 74 | €69,675 | €71,245 | +€1,571 | +2.3% |
| Operating charges | 60/66A | €32,610 | €29,074 | -€3,537 | -10.8% |
| Services and other goods | 61 | €31,600 | €28,051 | -€3,549 | -11.2% |
| Other operating charges | 640/8 | €1,010 | €1,023 | +€12 | +1.2% |
| Operating profit (loss) | 9901 | €37,064 | €42,172 | +€5,107 | +13.8% |
| Financial income | 75/76B | €8,240 | €6,900 | -€1,340 | -16.3% |
| Recurring financial income | 75 | €8,240 | €6,900 | -€1,340 | -16.3% |
| Income from current assets | 751 | €2,958 | €1,318 | -€1,639 | -55.4% |
| Other financial income | 752/9 | €5,282 | €5,582 | +€300 | +5.7% |
| Financial charges | 65/66B | €78,393 | €76,523 | -€1,870 | -2.4% |
| Recurring financial charges | 65 | €78,393 | €76,523 | -€1,870 | -2.4% |
| Debt charges | 650 | €77,771 | €75,646 | -€2,125 | -2.7% |
| Other financial charges | 652/9 | €622 | €877 | +€255 | +41.1% |
| Profit (loss) for the period before taxes | 9903 | -€33,089 | -€27,451 | +€5,637 | +17.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Taxes | 670/3 | €887 | €396 | -€492 | -55.4% |
| Tax adjustments and reversals of tax provisions | 77 | €887 | €396 | -€492 | -55.4% |
| Profit (loss) for the period | 9904 | -€33,089 | -€27,451 | +€5,637 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,089 | -€27,451 | +€5,637 | +17.0% |
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 24 October 2026 via checked.be.