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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Immorente Invest

IMO · Bourse de Casablanca · Consolidated statements

On this page
Company details
Legal name
Immorente Invest S.A
Listing
IMO on the Bourse de Casablanca, active · ISIN MA0000012387 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2024 · annual report, signed / final · source

Read with these figures

  • Auditor's emphasis of matter. No emphasis-of-matter or going-concern paragraph in the report on the consolidated statements (pp82-85); key audit matter: valuation of investment property (MMAD 983,43, 78% of total assets) (p83).
Full wording and sources

  • Auditor's emphasis of matter

    No emphasis-of-matter or going-concern paragraph in the report on the consolidated statements (pp82-85); key audit matter: valuation of investment property (MMAD 983,43, 78% of total assets) (p83).

    Source: Immorente — Rapport financier annuel 2024 (dated 2025-02-14)

  • Revenue

    MAD 78.7 million

    78,675 MAD thousands · p20

    +8.9% vs 2023

  • Operating profit / (loss)

    MAD 45.1 million

    45,136 MAD thousands · p20

    −9.1% vs 2023

  • Profit / (loss) for the year

    MAD 47.1 million

    47,112 MAD thousands · p20

    +10.1% vs 2023

  • Total assets

    MAD 1.26 billion

    1,258,311 MAD thousands · p20

    +21.0% vs 2023

  • Total equity

    MAD 827 million

    827,116 MAD thousands · p20

    +0.0% vs 2023

  • Cash from operations

    MAD 44.0 million

    44,018 MAD thousands · p20

    −22.4% vs 2023

Large amounts are rounded for reading (MAD million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in MAD thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2024 — annual report, signed / final; reported for the year · source
  • FY2023 — annual report, signed / final; comparative in the FY2024 filing · source

Income statement

Income statement, MAD thousands. Columns: FY2024 — annual report (signed / final), as reported for the year; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2024Annual reportreported for the yearFY2023Annual reportcomparative in FY2024 filing
Chiffres d'affaires 78,675 72,215
Achats consommés1 (2,109) (2,248)
Charges de personnel –2 0
Charges externes3 (19,233) (15,248)
Impôts et taxes4 (7,111) (5,999)
Autres produits de l'activité –2 0
Résultat d'exploitation5 50,222 48,720
Dotations nettes de reprises aux provisions courantes6 (5,333) 960
Autres produits et charges d'exploitation7 (296) (300)
Résultat opérationnel courant8 44,593 49,381
Résultat sur cession de participations consolidées9 –10 0
Autres produits et charges opérationnels11 543 296
Résultat opérationnel 45,136 49,677
Produits de trésorerie et d'équivalents de trésorerie 328 1,285
Coût de l'endettement financier brut (5,420) (1,133)
Produits de placements financiers nets des charges d'intérêts12 (5,092) 153
Plus ou moins values sur des actifs13 11,327 (324)
Autres produits et charges financiers consolidés14 1,586 (424)
Résultat financier consolidé opérationnel15 7,821 (595)
Résultat financier consolidé16 7,821 (595)
Résultat avant impôt 52,957 49,082
Impôts sur les bénéfices17 (4,660) (3,199)
Impôts différés18 (1,186) (3,100)
Total Impôts sur les bénéfices (5,846) (6,299)
Résultat après impôt 47,112 42,783
  1. Printed “-”, read as nil: subtotal_arithmetic: is.native.co_k7nvtsxgzfv6.operating_result_before_provisions.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.operating_profit.
Notes and alternative reported figures (16)
  1. “Achats consommés” is an issuer-specific line, not mapped to a shared definition: Purchases consumed.
  2. “Charges externes” is an issuer-specific line, not mapped to a shared definition: External charges.
  3. “Impôts et taxes” is an issuer-specific line, not mapped to a shared definition: Taxes and duties other than income tax.
  4. “Résultat d'exploitation” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: revenue less purchases, staff, external charges and taxes, before provisions and other operating items.
  5. “Dotations nettes de reprises aux provisions courantes” is an issuer-specific line, not mapped to a shared definition: Net charge to current provisions.
  6. “Autres produits et charges d'exploitation” is an issuer-specific line, not mapped to a shared definition: Other operating income and expenses.
  7. “Résultat opérationnel courant” is an issuer-specific line, not mapped to a shared definition: Current operating result.
  8. “Résultat sur cession de participations consolidées” is an issuer-specific line, not mapped to a shared definition: Result on disposal of consolidated investments.
  9. “Autres produits et charges opérationnels” is an issuer-specific line, not mapped to a shared definition: Other operational income and expenses (non-current).
  10. “Produits de placements financiers nets des charges d'intérêts” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: cash income less gross financial debt cost (cost of net financial debt).
  11. “Plus ou moins values sur des actifs”: mapping to a shared definition is uncertain. Printed 'Plus ou moins values sur des actifs'; the FFO reconciliation calls the same amount 'Variation de la valorisation des actifs' (investment property revaluation).
  12. “Autres produits et charges financiers consolidés” is an issuer-specific line, not mapped to a shared definition: Other financial income and expenses.
  13. “Résultat financier consolidé opérationnel” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of the financial items.
  14. “Résultat financier consolidé” is an issuer-specific line, not mapped to a shared definition: Consolidated financial result (equals the line above as printed).
  15. “Impôts sur les bénéfices” is an issuer-specific line, not mapped to a shared definition: Current income tax.
  16. “Impôts différés” is an issuer-specific line, not mapped to a shared definition: Deferred tax.

Balance sheet

Balance sheet, MAD thousands. Columns: FY2024 — annual report (signed / final), as reported for the year; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2024Annual reportreported for the yearFY2023Annual reportcomparative in FY2024 filing
Goodwill1 2,583 2,583
Immobilisations corporelles 12,485 0
Immeubles de placement 983,433 934,366
Autres actifs financiers2 205,885 50,005
Impôts différés 0 0
Actifs non-courants 1,204,387 986,954
Stocks et en-cours 0 0
Clients et comptes rattachés3 3,360 4,843
Comptes d'état4 6,426 12,447
Autres débiteurs5 1,416 15
Autres actifs courants6 321 325
VMP et autres placements 6,358 7,588
Trésorerie et équivalents de trésorerie 36,044 28,096
Actifs courants 53,924 53,315
Actifs non courants et groupes d'actifs destinés à être cédés7 –8 –8
Total Actif 1,258,311 1,040,269
Capital 563,298 563,298
Réserves9 216,707 220,935
Résultat de l'exercice10 47,112 42,783
Total Capitaux propres, part du groupe 827,116 827,016
Total Intérêts minoritaires 0 0
Total des capitaux propres 827,116 827,016
Emprunts et dettes financières 336,958 120,000
Dépôts et cautionnements des locataires11 10,328 13,293
Impôts différés 55,702 54,342
Autres passifs long terme12 0 0
Total Passifs non courants 402,988 187,635
Emprunts et crédit à moins d'un an 993 150
Banques (soldes créditeurs) 0 0
Provisions (part à moins d'un an) 3,292 3,852
Dettes fournisseurs13 13,589 10,674
Comptes d'Etat14 9,221 9,035
Autres créditeurs15 1,113 1,906
Total Passifs courants 28,207 25,618
Total Passifs liés à un groupe d'actifs destinés à être cédés16 –17 –17
Total des passifs 431,195 213,253
Total passif 1,258,311 1,040,269
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
Notes and alternative reported figures (15)
  1. “Goodwill” is an issuer-specific line, not mapped to a shared definition: Goodwill.
  2. “Autres actifs financiers” is an issuer-specific line, not mapped to a shared definition: Other non-current financial assets.
  3. “Clients et comptes rattachés” is an issuer-specific line, not mapped to a shared definition: Trade receivables.
  4. “Comptes d'état” is an issuer-specific line, not mapped to a shared definition: Amounts due from the State (taxes recoverable).
  5. “Autres débiteurs” is an issuer-specific line, not mapped to a shared definition: Other debtors.
  6. “Autres actifs courants” is an issuer-specific line, not mapped to a shared definition: Other current assets.
  7. “Actifs non courants et groupes d'actifs destinés à être cédés” is an issuer-specific line, not mapped to a shared definition: Printed '-' (nil).
  8. “Réserves” is an issuer-specific line, not mapped to a shared definition: Reserves, group share (including premiums).
  9. “Résultat de l'exercice” is an issuer-specific line, not mapped to a shared definition: The year's net result shown within equity.
  10. “Dépôts et cautionnements des locataires” is an issuer-specific line, not mapped to a shared definition: Tenant security deposits (non-current).
  11. “Autres passifs long terme” is an issuer-specific line, not mapped to a shared definition: Other long-term liabilities.
  12. “Dettes fournisseurs” is an issuer-specific line, not mapped to a shared definition: Trade payables.
  13. “Comptes d'Etat” is an issuer-specific line, not mapped to a shared definition: Amounts owed to the State (taxes).
  14. “Autres créditeurs” is an issuer-specific line, not mapped to a shared definition: Other creditors.
  15. “Total Passifs liés à un groupe d'actifs destinés à être cédés” is an issuer-specific line, not mapped to a shared definition: Printed '-' (nil).

Cash flow

Cash flow, MAD thousands. Columns: FY2024 — annual report (signed / final), as reported for the year; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2024Annual reportreported for the yearFY2023Annual reportcomparative in FY2024 filing
Résultat net total des sociétés consolidées1 47,112 42,783
Elim. du résultat des mises en équivalence2 –3 0
Elim. des amortissements et provisions4 (561) (1,572)
Elim. des profits / pertes de réévaluation (juste valeur)5 (11,672) 414
Capacité d'autofinancement après coût de l'endettement financier net et impôt6 32,613 41,624
Elim. de la charge (produit) d'impôt7 5,847 6,299
Capacité d'autofinancement avant coût de l'endettement financier net et impôt8 38,460 47,923
Incidence de la variation du BFR9 8,052 9,481
Impôts payés (2,493) (654)
Flux de trésorerie liés aux activités opérationnelles 44,018 56,750
Augmentation des prises de participation dans les filiales consolidées10 –3 (272)
Acquisition d'immobilisations corporelles et incorporelles11 (124,157) (112,065)
Flux de trésorerie liés aux activités d'investissement (205,300) (162,337)
Emission d'emprunts 297,251 125,099
Dividendes payés aux actionnaires du groupe (46,836) (45,035)
Dividendes payés aux minoritaires12 –3 0
Variation des crédits de trésorerie13 (30,000) 0
Flux de trésorerie liés aux activités de financement 167,156 79,876
Variation de trésorerie 5,874 (25,711)
Trésorerie d'ouverture14 35,534 61,246
Trésorerie de clôture15 41,409 35,534
  1. Printed “-”; reading unresolved, so no amount is shown. Printed dash for 2024; the cash-flow section totals do not reconcile as printed (issuer_inconsistency note), so no printed subtotal confirms a nil reading.
Notes and alternative reported figures (14)
  1. “Résultat net total des sociétés consolidées” is an issuer-specific line, not mapped to a shared definition: Starting line of the cash-flow statement.
  2. “Elim. du résultat des mises en équivalence” is an issuer-specific line, not mapped to a shared definition: Printed '-' (2024) and 0 (2023).
  3. “Elim. des amortissements et provisions” is an issuer-specific line, not mapped to a shared definition: Non-cash adjustment.
  4. “Elim. des profits / pertes de réévaluation (juste valeur)” is an issuer-specific line, not mapped to a shared definition: Non-cash adjustment.
  5. “Capacité d'autofinancement après coût de l'endettement financier net et impôt” is an issuer-specific line, not mapped to a shared definition: Printed subtotal.
  6. “Elim. de la charge (produit) d'impôt” is an issuer-specific line, not mapped to a shared definition: Tax charge added back.
  7. “Capacité d'autofinancement avant coût de l'endettement financier net et impôt” is an issuer-specific line, not mapped to a shared definition: Printed subtotal.
  8. “Incidence de la variation du BFR” is an issuer-specific line, not mapped to a shared definition: Change in working capital.
  9. “Augmentation des prises de participation dans les filiales consolidées” is an issuer-specific line, not mapped to a shared definition: Investing.
  10. “Acquisition d'immobilisations corporelles et incorporelles”: mapping to a shared definition is uncertain. One line for tangible and intangible fixed assets (including investment property).
  11. “Dividendes payés aux minoritaires” is an issuer-specific line, not mapped to a shared definition: Financing (printed '-' in 2024, 0 in 2023).
  12. “Variation des crédits de trésorerie” is an issuer-specific line, not mapped to a shared definition: Financing: change in short-term credit.
  13. “Trésorerie d'ouverture”: mapping to a shared definition is uncertain. Net treasury: cash plus VMP less short-term borrowings (2023 closing: 28.096 + 7.588 - 150 = 35.534).
  14. “Trésorerie de clôture”: mapping to a shared definition is uncertain. Net treasury: cash 36.044 plus VMP 6.358 less 'Emprunts et crédit à moins d'un an' 993 = 41.409 (p20).

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2024 Dividends paid (cash flow statement) Dividendes payés aux actionnaires du groupe (46,836) MAD thousands Annual report, p20
31 Dec 2023 Dividends paid (cash flow statement) Dividendes payés aux actionnaires du groupe (45,035) MAD thousands Annual report, p20

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Immorente — Rapport financier annuel 2024

    Year ended 31 December 2024 · Annual report · signed / final

    Audit: Fidaroc Grant Thornton; HDID et Associés (commissaires aux comptes), unmodified opinion · signed

    Auditor's sign-off: Faïçal Mekouar, Associé, Fidaroc Grant Thornton; Mohamed Hdid, Associé Gérant, HDID et Associés

    Final status: Rapport des commissaires aux comptes sur les états financiers consolidés, exercice du 1er janvier au 31 décembre 2024 (opinion PDF p82, scanned), unqualified, dated 'Casablanca, le 14 février 2025' and signed with visible handwritten signatures over the stamps of Fidaroc Grant Thornton (Faïçal Mekouar, Associé) and HDID et Associés (Mohamed Hdid, Associé Gérant) (PDF p85, page image). Board: the management report states the conseil d'administration met on 14 February 2025 'en vue d'examiner son activité et d'arrêter les comptes au 31 décembre 2024' (PDF p8).

    Document date
    14 Feb 2025
    Auditor's report
    14 Feb 2025
    Board approval
    14 Feb 2025
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2024, FY2023
    Basis
    consolidated statements · MAD thousands (printed “EN KMAD”)
    • The consolidated cash-flow statement (p20) prints only some lines of its investing and financing sections: investing lines '-' and -124.157 against the printed total -205.300 (2023: -272 and -112.065 against -162.337); financing lines 297.251, -46.836, '-' and -30.000 against the printed total 167.156 (2023: 125.099, -45.035, 0, 0 against 79.876). The text layer holds no further lines (checked on the render). Also 'Capacité d'autofinancement après coût de l'endettement financier net et impôt' 2024 is printed 32.613 while its printed components give 34.879. Kept as printed; the related arithmetic checks fail.
    • Rounding of 1 as printed (p20): Actifs non-courants, Actifs courants, Total Capitaux propres part du groupe (827.116 against 827.117 in the statement of changes in equity), Total Passifs courants, Résultat après impôt, and opening treasury plus change (41.408) against closing 41.409. No EPS or other comprehensive income statement is printed (the statement of changes in equity shows a -175 fair-value movement in 2024).
    • The page carries the logo of CFG Bank; Immorente Invest's management company is a CFG group entity (management report and ESG report). The statements are those of Immorente Invest and its subsidiaries, as the auditors' report states (p82).
    • Treasury in the cash-flow statement is net: cash 36.044 + VMP et autres placements 6.358 - Emprunts et crédit à moins d'un an 993 = 41.409 (2023: 28.096 + 7.588 - 150 = 35.534) (p20).
    Technical details
    File
    98 pages, with a text layer
    SHA-256
    07a827fea8a57c907c6561b19be170f0b36df39ce467d4e4f15eb4b25556867b
    Entity as printed
    IMMORENTE INVEST et ses filiales (le « Groupe »), 5/7 – Rue Ibnou Toufail Palmiers, Casablanca (PDF p82)
    Exchange copy
    retrieved 2026-10-08T18:29:14Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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