HMJ IMMOFIN: what changed
Two financial 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.
HMJ IMMOFIN
Largest movements
- Receivables within one year +€21,249
up €21,249 (+33.0%), from €64,326 to €85,575
of which Trade receivables: +€18,790
- Cash +€7,762
up €7,762 (+39.4%), from €19,705 to €27,467
mainly Net result for the year (+€29,216) and Tax, wage and social debts (+€8,147)
- Tangible fixed assets -€2,975
down €2,975 (-44.4%), from €6,706 to €3,731
of which Furniture and vehicles: -€2,070
- Reserves +€46,306
up €46,306 (+212%), from €21,860 to €68,166
of which Distributable reserves: +€46,306
- Profit (loss) carried forward -€24,090
down €24,090 (-91.6%), from €26,306 to €2,216
- Tax, wage and social debts +€8,147
up €8,147 (+25.0%), from €32,594 to €40,741
- Current portion of long-term debt -€2,300
no longer reported in 2025 (was €2,300)
- Gross operating margin -€6,553
down €6,553 (-11.2%), from €58,513 to €51,960
- Taxes +€3,328
up €3,328 (+22.2%), from €14,980 to €18,308
- Depreciation +€1,154
up €1,154 (+63.4%), from €1,821 to €2,975
- Other operating charges -€658
down €658 (-52.9%), from €1,243 to €585
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.
Derived cash bridge
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 | €100,837 | €126,773 | +€25,936 | +25.7% |
| Fixed assets | 21/28 | €16,706 | €13,731 | -€2,975 | -17.8% |
| Tangible fixed assets | 22/27 | €6,706 | €3,731 | -€2,975 | -44.4% |
| Plant, machinery and equipment | 23 | €1,802 | €897 | -€905 | -50.2% |
| Furniture and vehicles | 24 | €4,904 | €2,834 | -€2,070 | -42.2% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €84,131 | €113,042 | +€28,911 | +34.4% |
| Amounts receivable within one year | 40/41 | €64,326 | €85,575 | +€21,249 | +33.0% |
| Trade receivables | 40 | €64,326 | €83,116 | +€18,790 | +29.2% |
| Other amounts receivable | 41 | - | €2,459 | +€2,459 | |
| Cash at bank and in hand | 54/58 | €19,705 | €27,467 | +€7,762 | +39.4% |
| Deferred charges and accrued income | 490/1 | €100 | - | -€100 | |
| Total equity and liabilities | 10/49 | €100,837 | €126,773 | +€25,936 | +25.7% |
| Equity | 10/15 | €55,166 | €77,382 | +€22,216 | +40.3% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €21,860 | €68,166 | +€46,306 | +212% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €66,306 | +€46,306 | +232% |
| Profit (loss) carried forward | 14 | €26,306 | €2,216 | -€24,090 | -91.6% |
| Amounts payable | 17/49 | €45,671 | €49,391 | +€3,720 | +8.1% |
| Amounts payable within one year | 42/48 | €45,671 | €49,391 | +€3,720 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €2,300 | - | -€2,300 | |
| Trade debts | 44 | €2,687 | €1,650 | -€1,037 | -38.6% |
| Suppliers | 440/4 | €2,687 | €1,650 | -€1,037 | -38.6% |
| Taxes, remuneration and social security | 45 | €32,594 | €40,741 | +€8,147 | +25.0% |
| Taxes | 450/3 | €32,594 | €40,741 | +€8,147 | +25.0% |
| Other amounts payable | 47/48 | €8,090 | €7,000 | -€1,090 | -13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,821 | €2,975 | +€1,154 | +63.4% |
| Other operating charges | 640/8 | €1,243 | €585 | -€658 | -52.9% |
| Gross operating margin | 9900 | €58,513 | €51,960 | -€6,553 | -11.2% |
| Operating profit (loss) | 9901 | €55,449 | €48,400 | -€7,049 | -12.7% |
| Financial charges | 65/66B | €995 | €876 | -€119 | -12.0% |
| Recurring financial charges | 65 | €995 | €876 | -€119 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €54,454 | €47,524 | -€6,930 | -12.7% |
| Income taxes | 67/77 | €14,980 | €18,308 | +€3,328 | +22.2% |
| Profit (loss) for the period | 9904 | €39,474 | €29,216 | -€10,258 | -26.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,474 | €29,216 | -€10,258 | -26.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.