IMMOMAPI: 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.
IMMOMAPI
Largest movements
- Stocks and contracts -€782,750
no longer reported in 2025 (was €782,750)
- Cash +€198,363
up €198,363 (+2,807%), from €7,067 to €205,430
mainly Stocks and contracts (+€782,750) and Tax, wage and social debts (+€237,604)
- Tangible fixed assets +€155,185
up €155,185 (+8.0%), from €1.9m to €2.1m
of which Land and buildings: +€93,221
- Debts after one year -€788,165
down €788,165 (-52.9%), from €1.5m to €702,853
- Tax, wage and social debts +€237,604
up €237,604 (+5,520%), from €4,304 to €241,908
of which Taxes: +€238,845
- Profit (loss) carried forward +€183,320
up €183,320 (+2,740%), from €6,691 to €190,011
- Current portion of long-term debt -€59,260
down €59,260 (-38.7%), from €153,176 to €93,915
- Trade debts +€40,137
up €40,137 (+41.6%), from €96,585 to €136,723
- Gross operating margin +€284,502
up €284,502 (+76.0%), from €374,444 to €658,946
- Taxes +€64,517
new in 2025: €64,517
- Staff costs +€10,463
up €10,463 (+6.5%), from €161,112 to €171,575
- Depreciation -€7,905
down €7,905 (-4.5%), from €174,309 to €166,404
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 | €2,761,078 | €2,351,425 | -€409,652 | -14.8% |
| Fixed assets | 21/28 | €1,932,997 | €2,088,182 | +€155,185 | +8.0% |
| Tangible fixed assets | 22/27 | €1,932,250 | €2,087,436 | +€155,185 | +8.0% |
| Land and buildings | 22 | €1,900,709 | €1,993,931 | +€93,221 | +4.9% |
| Plant, machinery and equipment | 23 | €12,203 | €73,296 | +€61,093 | +501% |
| Furniture and vehicles | 24 | €19,338 | €20,209 | +€871 | +4.5% |
| Financial fixed assets | 28 | €746 | €746 | = | 0.0% |
| Current assets | 29/58 | €828,081 | €263,243 | -€564,838 | -68.2% |
| Stocks and contracts in progress | 3 | €782,750 | - | -€782,750 | |
| Stocks | 30/36 | €782,750 | - | -€782,750 | |
| Amounts receivable within one year | 40/41 | €28,558 | €46,780 | +€18,222 | +63.8% |
| Trade receivables | 40 | €28,058 | €45,930 | +€17,872 | +63.7% |
| Other amounts receivable | 41 | €500 | €850 | +€350 | +70.0% |
| Cash at bank and in hand | 54/58 | €7,067 | €205,430 | +€198,363 | +2,807% |
| Deferred charges and accrued income | 490/1 | €9,706 | €11,034 | +€1,328 | +13.7% |
| Total equity and liabilities | 10/49 | €2,761,078 | €2,351,425 | -€409,652 | -14.8% |
| Equity | 10/15 | €323,206 | €480,976 | +€157,771 | +48.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Capital | 10 | €18,550 | - | -€18,550 | |
| Issued capital | 100 | €18,550 | - | -€18,550 | |
| Reserves | 13 | €297,965 | €272,415 | -€25,549 | -8.6% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Legal reserve | 130 | €1,855 | - | -€1,855 | |
| Other | 1319 | - | €1,855 | +€1,855 | |
| Tax-exempt reserves | 132 | €296,110 | €270,560 | -€25,549 | -8.6% |
| Profit (loss) carried forward | 14 | €6,691 | €190,011 | +€183,320 | +2,740% |
| Provisions and deferred taxes | 16 | €98,581 | €90,075 | -€8,506 | -8.6% |
| Deferred taxes | 168 | €98,581 | €90,075 | -€8,506 | -8.6% |
| Amounts payable | 17/49 | €2,339,291 | €1,780,374 | -€558,917 | -23.9% |
| Amounts payable after more than one year | 17 | €1,491,018 | €702,853 | -€788,165 | -52.9% |
| Financial debts | 170/4 | €1,491,018 | €702,853 | -€788,165 | -52.9% |
| Amounts payable within one year | 42/48 | €812,273 | €1,059,521 | +€247,248 | +30.4% |
| Current portion of amounts payable after more than one year | 42 | €153,176 | €93,915 | -€59,260 | -38.7% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €96,585 | €136,723 | +€40,137 | +41.6% |
| Suppliers | 440/4 | €96,585 | €136,723 | +€40,137 | +41.6% |
| Taxes, remuneration and social security | 45 | €4,304 | €241,908 | +€237,604 | +5,520% |
| Taxes | 450/3 | €8 | €238,852 | +€238,845 | +3,176,128% |
| Remuneration and social security | 454/9 | €4,297 | €3,056 | -€1,241 | -28.9% |
| Other amounts payable | 47/48 | €458,208 | €486,975 | +€28,768 | +6.3% |
| Accrued charges and deferred income | 492/3 | €36,000 | €18,000 | -€18,000 | -50.0% |
| Remuneration, social security and pensions | 62 | €161,112 | €171,575 | +€10,463 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €174,309 | €166,404 | -€7,905 | -4.5% |
| Other operating charges | 640/8 | €41,673 | €40,853 | -€819 | -2.0% |
| Gross operating margin | 9900 | €374,444 | €658,946 | +€284,502 | +76.0% |
| Operating profit (loss) | 9901 | -€2,650 | €280,114 | +€282,764 | |
| Financial income | 75/76B | €41 | - | -€41 | |
| Recurring financial income | 75 | €41 | - | -€41 | |
| Financial charges | 65/66B | €61,314 | €66,333 | +€5,019 | +8.2% |
| Recurring financial charges | 65 | €61,314 | €66,333 | +€5,019 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | -€63,922 | €213,782 | +€277,704 | |
| Transfer from deferred taxes | 780 | €8,506 | €8,506 | -€0 | 0.0% |
| Income taxes | 67/77 | - | €64,517 | +€64,517 | |
| Profit (loss) for the period | 9904 | -€55,416 | €157,771 | +€213,187 | |
| Transfer from tax-exempt reserves | 789 | €25,549 | €25,549 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,867 | €183,320 | +€213,187 |
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 23 October 2026 via checked.be.