ERMAX IMMO: what changed
Two fiscal 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.
ERMAX IMMO
Largest movements
- Tangible fixed assets -€37,795
down €37,795 (-3.8%), from €994,836 to €957,042
- Cash +€30,819
new in 2024: €30,819
mainly Debts after one year (+€93,778) and Depreciation (+€37,795)
- Debts after one year +€93,778
up €93,778 (+19.8%), from €473,634 to €567,412
of which Financial debts: +€93,778
- Current portion of long-term debt -€76,987
no longer reported in 2024 (was €76,987)
- Gross operating margin +€4,357
up €4,357 (+7.6%), from €57,296 to €61,653
- Taxes +€1,469
up €1,469 (+1081.2%), from €136 to €1,605
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €995,025 | €988,762 | -€6,264 | -0.6% |
| Fixed assets | 21/28 | €994,836 | €957,042 | -€37,795 | -3.8% |
| Tangible fixed assets | 22/27 | €994,836 | €957,042 | -€37,795 | -3.8% |
| Land and buildings | 22 | €994,836 | €957,042 | -€37,795 | -3.8% |
| Current assets | 29/58 | €189 | €31,720 | +€31,531 | +16676.0% |
| Cash at bank and in hand | 54/58 | - | €30,819 | +€30,819 | |
| Deferred charges and accrued income | 490/1 | €189 | €901 | +€712 | +376.7% |
| Total equity and liabilities | 10/49 | €995,025 | €988,762 | -€6,264 | -0.6% |
| Equity | 10/15 | €357,446 | €361,732 | +€4,286 | +1.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €4,996 | €4,996 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,996 | €4,996 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,996 | €4,996 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,450 | €156,736 | +€4,286 | +2.8% |
| Amounts payable | 17/49 | €637,579 | €627,030 | -€10,550 | -1.7% |
| Amounts payable after more than one year | 17 | €473,634 | €567,412 | +€93,778 | +19.8% |
| Financial debts | 170/4 | €384,993 | €478,772 | +€93,778 | +24.4% |
| Other amounts payable | 178/9 | €88,641 | €88,641 | = | 0.0% |
| Amounts payable within one year | 42/48 | €163,945 | €59,617 | -€104,328 | -63.6% |
| Current portion of amounts payable after more than one year | 42 | €76,987 | - | -€76,987 | |
| Financial debts | 43 | €1,085 | - | -€1,085 | |
| Credit institutions | 430/8 | €1,085 | - | -€1,085 | |
| Trade debts | 44 | €9,438 | €216 | -€9,222 | -97.7% |
| Suppliers | 440/4 | €9,438 | €216 | -€9,222 | -97.7% |
| Taxes, remuneration and social security | 45 | €8,843 | €1,605 | -€7,238 | -81.8% |
| Taxes | 450/3 | €8,843 | €1,605 | -€7,238 | -81.8% |
| Other amounts payable | 47/48 | €67,592 | €57,796 | -€9,796 | -14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,795 | €37,795 | = | 0.0% |
| Other operating charges | 640/8 | €10,192 | €9,747 | -€445 | -4.4% |
| Gross operating margin | 9900 | €57,296 | €61,653 | +€4,357 | +7.6% |
| Operating profit (loss) | 9901 | €9,310 | €14,111 | +€4,802 | +51.6% |
| Financial charges | 65/66B | €8,800 | €8,220 | -€580 | -6.6% |
| Recurring financial charges | 65 | €8,800 | €8,220 | -€580 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €509 | €5,891 | +€5,382 | +1056.8% |
| Income taxes | 67/77 | €136 | €1,605 | +€1,469 | +1081.2% |
| Profit (loss) for the period | 9904 | €373 | €4,286 | +€3,913 | +1047.9% |
| Profit (loss) for the period to be appropriated | 9905 | €373 | €4,286 | +€3,913 | +1047.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.