Immoferm: what changed
What changed
Immoferm
filed annual accounts (NBB)
Net result for the year
€101,519
2024 · -€9,687+€111,207
Equity
€579,169
2024 · €477,650+€101,519
Cash
€100,481
2024 · €442,870-€342,389
Balance sheet total
€604,071
2024 · €489,627+€114,444
Largest movements
Assets
- Current investments +€500,000
new in 2025: €500,000
- Cash -€342,389
down €342,389 (-77.3%), from €442,870 to €100,481
mainly Current investments (-€500,000) and Receivables within one year (-€2,943)
- Tangible fixed assets -€46,245
no longer reported in 2025 (was €46,245)
Equity and liabilities
- Reserves +€99,927
up €99,927 (+40.1%), from €249,242 to €349,169
of which Distributable reserves: +€99,927
- Tax, wage and social debts +€10,285
new in 2025: €10,285
Income statement
- Gross operating margin +€145,456
up €145,456, from -€4,281 to €141,175
- Taxes +€37,741
new in 2025: €37,741
- Depreciation -€2,472
no longer reported in 2025 (was €2,472)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€9,687
Gross operating margin
+€145,456
Depreciation
+€2,472
Other operating charges
+€54
Financial income
+€908
Financial charges
+€59
Taxes
-€37,741
Result 2025
€101,519
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€111,367
Investment
-€453,755
Financing
€0
Cash 2024
€442,870
From operations (derived)
+€111,367
Net result for the year
+€101,519
Receivables within one year
-€2,943
Smaller working-capital items
+€496
Tax, wage and social debts
+€10,285
Other debts
+€2,009
Investment (derived)
-€453,755
Investment in fixed assets (net)
+€46,245
Current investments
-€500,000
Cash 2025
€100,481
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €489,627 | €604,071 | +€114,444 | +23.4% |
| Fixed assets | 21/28 | €46,245 | - | -€46,245 | |
| Tangible fixed assets | 22/27 | €46,245 | - | -€46,245 | |
| Land and buildings | 22 | €46,245 | - | -€46,245 | |
| Current assets | 29/58 | €443,382 | €604,071 | +€160,689 | +36.2% |
| Amounts receivable within one year | 40/41 | - | €2,943 | +€2,943 | |
| Trade receivables | 40 | - | €691 | +€691 | |
| Other amounts receivable | 41 | - | €2,252 | +€2,252 | |
| Current investments | 50/53 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €442,870 | €100,481 | -€342,389 | -77.3% |
| Deferred charges and accrued income | 490/1 | €512 | €648 | +€135 | +26.4% |
| Total equity and liabilities | 10/49 | €489,627 | €604,071 | +€114,444 | +23.4% |
| Equity | 10/15 | €477,650 | €579,169 | +€101,519 | +21.3% |
| Contributions | 10/11 | €230,000 | €230,000 | = | 0.0% |
| Capital | 10 | €230,000 | €230,000 | = | 0.0% |
| Issued capital | 100 | €230,000 | €230,000 | = | 0.0% |
| Reserves | 13 | €249,242 | €349,169 | +€99,927 | +40.1% |
| Non-distributable reserves | 130/1 | €23,000 | €23,000 | = | 0.0% |
| Legal reserve | 130 | €23,000 | €23,000 | = | 0.0% |
| Distributable reserves | 133 | €226,242 | €326,169 | +€99,927 | +44.2% |
| Profit (loss) carried forward | 14 | -€1,592 | - | +€1,592 | |
| Amounts payable | 17/49 | €11,976 | €24,902 | +€12,925 | +108% |
| Amounts payable within one year | 42/48 | €11,001 | €24,243 | +€13,242 | +120% |
| Trade debts | 44 | €2,650 | €3,598 | +€948 | +35.8% |
| Suppliers | 440/4 | €2,650 | €3,598 | +€948 | +35.8% |
| Taxes, remuneration and social security | 45 | - | €10,285 | +€10,285 | |
| Taxes | 450/3 | - | €10,285 | +€10,285 | |
| Other amounts payable | 47/48 | €8,351 | €10,359 | +€2,009 | +24.1% |
| Accrued charges and deferred income | 492/3 | €976 | €659 | -€317 | -32.5% |
| Non-recurring operating income | 76A | - | €151,755 | +€151,755 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,472 | - | -€2,472 | |
| Other operating charges | 640/8 | €2,417 | €2,363 | -€54 | -2.2% |
| Gross operating margin | 9900 | -€4,281 | €141,175 | +€145,456 | |
| Operating profit (loss) | 9901 | -€9,169 | €138,812 | +€147,981 | |
| Financial income | 75/76B | €316 | €1,224 | +€908 | +287% |
| Recurring financial income | 75 | €316 | €1,224 | +€908 | +287% |
| Financial charges | 65/66B | €835 | €776 | -€59 | -7.0% |
| Recurring financial charges | 65 | €835 | €776 | -€59 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,687 | €139,260 | +€148,948 | |
| Income taxes | 67/77 | - | €37,741 | +€37,741 | |
| Profit (loss) for the period | 9904 | -€9,687 | €101,519 | +€111,207 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,687 | €101,519 | +€111,207 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.