IMMAP: what changed
What changed
IMMAP
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
-€38,494
2024 · €1,369-€39,862
Equity
€155,798
2024 · €194,292-€38,494
Cash
€1,052
2024 · €2,665-€1,613
Balance sheet total
€1.3m
2024 · €1.4m-€86,891
Largest movements
Assets
- Receivables within one year -€78,359
down €78,359 (-32.3%), from €242,363 to €164,004
of which Other amounts receivable: -€91,453
- Tangible fixed assets -€35,054
down €35,054 (-4.7%), from €749,786 to €714,732
- Stocks and contracts +€29,150
up €29,150 (+8.5%), from €344,780 to €373,930
Equity and liabilities
- Short-term financial debts -€75,000
down €75,000 (-100%), from €75,000 to €0
- Other debts +€53,045
up €53,045 (+24.5%), from €216,274 to €269,320
- Debts after one year -€44,409
down €44,409 (-5.5%), from €812,339 to €767,931
- Reserves -€38,494
down €38,494 (-21.9%), from €175,692 to €137,198
of which Distributable reserves: -€38,494
- Trade debts +€17,558
up €17,558 (+398%), from €4,409 to €21,967
Income statement
- Gross operating margin -€38,240
down €38,240 (-59.8%), from €63,967 to €25,728
- Financial income -€2,023
down €2,023 (-63.7%), from €3,176 to €1,153
- Taxes -€771
down €771 (-100%), from €771 to €0
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
€1,369
Gross operating margin
-€38,240
Other operating charges
-€493
Financial income
-€2,023
Financial charges
+€122
Taxes
+€771
Result 2025
-€38,494
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
+€116,538
Investment
€0
Financing
-€118,151
Cash 2024
€2,665
From operations (derived)
+€116,538
Net result for the year
-€38,494
Depreciation
+€35,054
Stocks and contracts
-€29,150
Receivables within one year
+€78,359
Deferred charges and accrued income
+€1,015
Trade debts
+€17,558
Tax, wage and social debts
+€861
Other debts
+€53,045
Accrued charges and deferred income
-€1,710
Financing
-€118,151
Debts after one year
-€44,409
Current portion of long-term debt
+€1,257
Short-term financial debts
-€75,000
Cash 2025
€1,052
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,352,121 | €1,265,230 | -€86,891 | -6.4% |
| Fixed assets | 21/28 | €759,786 | €724,732 | -€35,054 | -4.6% |
| Tangible fixed assets | 22/27 | €749,786 | €714,732 | -€35,054 | -4.7% |
| Land and buildings | 22 | €749,786 | €714,732 | -€35,054 | -4.7% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €592,334 | €540,498 | -€51,837 | -8.8% |
| Stocks and contracts in progress | 3 | €344,780 | €373,930 | +€29,150 | +8.5% |
| Stocks | 30/36 | €344,780 | €373,930 | +€29,150 | +8.5% |
| Amounts receivable within one year | 40/41 | €242,363 | €164,004 | -€78,359 | -32.3% |
| Trade receivables | 40 | €116,759 | €129,852 | +€13,094 | +11.2% |
| Other amounts receivable | 41 | €125,604 | €34,151 | -€91,453 | -72.8% |
| Cash at bank and in hand | 54/58 | €2,665 | €1,052 | -€1,613 | -60.5% |
| Deferred charges and accrued income | 490/1 | €2,527 | €1,512 | -€1,015 | -40.2% |
| Total equity and liabilities | 10/49 | €1,352,121 | €1,265,230 | -€86,891 | -6.4% |
| Equity | 10/15 | €194,292 | €155,798 | -€38,494 | -19.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €175,692 | €137,198 | -€38,494 | -21.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €546 | €546 | = | 0.0% |
| Distributable reserves | 133 | €175,146 | €136,652 | -€38,494 | -22.0% |
| Amounts payable | 17/49 | €1,157,828 | €1,109,431 | -€48,397 | -4.2% |
| Amounts payable after more than one year | 17 | €812,339 | €767,931 | -€44,409 | -5.5% |
| Financial debts | 170/4 | €812,339 | €767,931 | -€44,409 | -5.5% |
| Amounts payable within one year | 42/48 | €342,509 | €340,231 | -€2,278 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €46,055 | €47,312 | +€1,257 | +2.7% |
| Financial debts | 43 | €75,000 | €0 | -€75,000 | -100% |
| Credit institutions | 430/8 | €75,000 | €0 | -€75,000 | -100% |
| Trade debts | 44 | €4,409 | €21,967 | +€17,558 | +398% |
| Suppliers | 440/4 | €4,409 | €21,967 | +€17,558 | +398% |
| Taxes, remuneration and social security | 45 | €771 | €1,633 | +€861 | +112% |
| Taxes | 450/3 | €771 | €1,633 | +€861 | +112% |
| Other amounts payable | 47/48 | €216,274 | €269,320 | +€53,045 | +24.5% |
| Accrued charges and deferred income | 492/3 | €2,980 | €1,270 | -€1,710 | -57.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,054 | €35,054 | = | 0.0% |
| Other operating charges | 640/8 | €5,451 | €5,944 | +€493 | +9.0% |
| Gross operating margin | 9900 | €63,967 | €25,728 | -€38,240 | -59.8% |
| Operating profit (loss) | 9901 | €23,462 | -€15,271 | -€38,733 | |
| Financial income | 75/76B | €3,176 | €1,153 | -€2,023 | -63.7% |
| Recurring financial income | 75 | €3,176 | €1,153 | -€2,023 | -63.7% |
| Financial charges | 65/66B | €24,498 | €24,376 | -€122 | -0.5% |
| Recurring financial charges | 65 | €24,498 | €24,376 | -€122 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €2,140 | -€38,494 | -€40,634 | |
| Income taxes | 67/77 | €771 | €0 | -€771 | -100% |
| Profit (loss) for the period | 9904 | €1,369 | -€38,494 | -€39,862 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,369 | -€38,494 | -€39,862 |
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.