HM 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.
HM IMMO
Largest movements
- Tangible fixed assets -€27,998
down €27,998 (-4.2%), from €667,061 to €639,063
- Cash +€9,429
up €9,429 (+21.7%), from €43,506 to €52,935
mainly Depreciation (+€27,998) and Net result for the year (+€22,736)
- Debts after one year -€27,669
down €27,669 (-6.0%), from €457,544 to €429,876
of which Financial debts: -€27,669
- Profit (loss) carried forward +€22,736
up €22,736 (+28.6%), from €79,500 to €102,235
- Gross operating margin +€1,843
up €1,843 (+2.7%), from €67,875 to €69,718
- Taxes -€785
down €785 (-12.1%), from €6,469 to €5,684
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.
Cash bridge derived
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 | €715,823 | €704,699 | -€11,123 | -1.6% |
| Fixed assets | 21/28 | €667,061 | €639,063 | -€27,998 | -4.2% |
| Tangible fixed assets | 22/27 | €667,061 | €639,063 | -€27,998 | -4.2% |
| Land and buildings | 22 | €667,061 | €639,063 | -€27,998 | -4.2% |
| Current assets | 29/58 | €48,762 | €65,636 | +€16,874 | +34.6% |
| Amounts receivable within one year | 40/41 | €3,252 | €5,602 | +€2,350 | +72.3% |
| Trade receivables | 40 | €2,221 | €2,588 | +€367 | +16.5% |
| Other amounts receivable | 41 | €1,031 | €3,014 | +€1,983 | +192.3% |
| Cash at bank and in hand | 54/58 | €43,506 | €52,935 | +€9,429 | +21.7% |
| Deferred charges and accrued income | 490/1 | €2,004 | €7,099 | +€5,095 | +254.2% |
| Total equity and liabilities | 10/49 | €715,823 | €704,699 | -€11,123 | -1.6% |
| Equity | 10/15 | €89,500 | €112,235 | +€22,736 | +25.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,500 | €102,235 | +€22,736 | +28.6% |
| Provisions and deferred taxes | 16 | €1,550 | €1,550 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €1,550 | €1,550 | = | 0.0% |
| Other liabilities and charges | 164/5 | €1,550 | €1,550 | = | 0.0% |
| Amounts payable | 17/49 | €624,773 | €590,914 | -€33,859 | -5.4% |
| Amounts payable after more than one year | 17 | €457,544 | €429,876 | -€27,669 | -6.0% |
| Financial debts | 170/4 | €454,944 | €427,276 | -€27,669 | -6.1% |
| Other amounts payable | 178/9 | €2,600 | €2,600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €164,472 | €160,502 | -€3,969 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €29,708 | €30,213 | +€505 | +1.7% |
| Trade debts | 44 | €1,410 | €4,527 | +€3,117 | +221.0% |
| Suppliers | 440/4 | €1,410 | €4,527 | +€3,117 | +221.0% |
| Taxes, remuneration and social security | 45 | €4,926 | - | -€4,926 | |
| Taxes | 450/3 | €4,926 | - | -€4,926 | |
| Other amounts payable | 47/48 | €128,427 | €125,762 | -€2,666 | -2.1% |
| Accrued charges and deferred income | 492/3 | €2,757 | €536 | -€2,221 | -80.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,998 | €27,998 | = | 0.0% |
| Other operating charges | 640/8 | €4,153 | €4,002 | -€151 | -3.6% |
| Gross operating margin | 9900 | €67,875 | €69,718 | +€1,843 | +2.7% |
| Operating profit (loss) | 9901 | €35,724 | €37,718 | +€1,994 | +5.6% |
| Financial charges | 65/66B | €9,848 | €9,299 | -€550 | -5.6% |
| Recurring financial charges | 65 | €9,848 | €9,299 | -€550 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €25,876 | €28,420 | +€2,544 | +9.8% |
| Income taxes | 67/77 | €6,469 | €5,684 | -€785 | -12.1% |
| Profit (loss) for the period | 9904 | €19,407 | €22,736 | +€3,329 | +17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,407 | €22,736 | +€3,329 | +17.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.