Immo Albert Marinus: 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.
What changed
Immo Albert Marinus
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€28,715
2024 · -€48,282+€76,997
Equity
€552,275
2024 · €523,560+€28,715
Cash
€12,142
2024 · €1,247+€10,894
Balance sheet total
€3.4m
2024 · €3.6m-€174,271
Largest movements
Assets
- Tangible fixed assets -€186,213
down €186,213 (-5.2%), from €3.6m to €3.4m
of which Land and buildings: -€181,796
Equity and liabilities
- Debts after one year -€140,126
down €140,126 (-6.3%), from €2.2m to €2.1m
of which Financial debts: -€140,126
- Other debts -€64,645
down €64,645 (-13.6%), from €475,294 to €410,649
- Profit (loss) carried forward +€37,255
up €37,255, from -€2,880 to €34,374
Income statement
- Gross operating margin +€97,842
up €97,842 (+28.7%), from €340,918 to €438,760
- Depreciation +€15,635
up €15,635 (+5.5%), from €286,782 to €302,417
- Financial charges +€5,114
up €5,114 (+6.3%), from €81,735 to €86,849
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.
Result 2024
-€48,282
Gross operating margin
+€97,842
Depreciation
-€15,635
Other operating charges
-€55
Financial income
-€39
Financial charges
-€5,114
Taxes
-€2
Result 2025
€28,715
raises the resultlowers the result
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.
From operations
+€237,217
Investment
-€116,203
Financing
-€110,120
Cash 2024
€1,247
From operations (derived)
+€237,217
Net result for the year
+€28,715
Depreciation
+€302,417
Receivables within one year
+€540
Deferred charges and accrued income
-€1,588
Provisions
-€2,847
Trade debts
-€16,740
Tax, wage and social debts
-€12,256
Other debts
-€64,645
Accrued charges and deferred income
+€3,622
Investment (derived)
-€116,203
Investment in fixed assets (net)
-€116,203
Financing
-€110,120
Debts after one year
-€140,126
Current portion of long-term debt
+€30,007
Cash 2025
€12,142
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,596,484 | €3,422,213 | -€174,271 | -4.8% |
| Fixed assets | 21/28 | €3,589,804 | €3,403,591 | -€186,213 | -5.2% |
| Tangible fixed assets | 22/27 | €3,589,309 | €3,403,096 | -€186,213 | -5.2% |
| Land and buildings | 22 | €3,573,997 | €3,392,200 | -€181,796 | -5.1% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €15,313 | €10,895 | -€4,417 | -28.8% |
| Financial fixed assets | 28 | €495 | €495 | = | 0.0% |
| Current assets | 29/58 | €6,680 | €18,622 | +€11,943 | +179% |
| Amounts receivable within one year | 40/41 | €540 | €0 | -€540 | -100% |
| Other amounts receivable | 41 | €540 | €0 | -€540 | -100% |
| Cash at bank and in hand | 54/58 | €1,247 | €12,142 | +€10,894 | +873% |
| Deferred charges and accrued income | 490/1 | €4,892 | €6,481 | +€1,588 | +32.5% |
| Total equity and liabilities | 10/49 | €3,596,484 | €3,422,213 | -€174,271 | -4.8% |
| Equity | 10/15 | €523,560 | €552,275 | +€28,715 | +5.5% |
| Contributions | 10/11 | €271,950 | €271,950 | = | 0.0% |
| Reserves | 13 | €254,491 | €245,951 | -€8,540 | -3.4% |
| Tax-exempt reserves | 132 | €137,296 | €128,756 | -€8,540 | -6.2% |
| Distributable reserves | 133 | €117,195 | €117,195 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,880 | €34,374 | +€37,255 | |
| Provisions and deferred taxes | 16 | €45,765 | €42,919 | -€2,847 | -6.2% |
| Deferred taxes | 168 | €45,765 | €42,919 | -€2,847 | -6.2% |
| Amounts payable | 17/49 | €3,027,159 | €2,827,019 | -€200,139 | -6.6% |
| Amounts payable after more than one year | 17 | €2,206,779 | €2,066,653 | -€140,126 | -6.3% |
| Financial debts | 170/4 | €2,179,209 | €2,039,083 | -€140,126 | -6.4% |
| Other amounts payable | 178/9 | €27,570 | €27,570 | = | 0.0% |
| Amounts payable within one year | 42/48 | €820,379 | €756,744 | -€63,635 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €299,075 | €329,081 | +€30,007 | +10.0% |
| Trade debts | 44 | €26,019 | €9,279 | -€16,740 | -64.3% |
| Suppliers | 440/4 | €26,019 | €9,279 | -€16,740 | -64.3% |
| Taxes, remuneration and social security | 45 | €19,992 | €7,735 | -€12,256 | -61.3% |
| Taxes | 450/3 | €19,992 | €7,735 | -€12,256 | -61.3% |
| Other amounts payable | 47/48 | €475,294 | €410,649 | -€64,645 | -13.6% |
| Accrued charges and deferred income | 492/3 | €0 | €3,622 | +€3,622 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €286,782 | €302,417 | +€15,635 | +5.5% |
| Other operating charges | 640/8 | €23,269 | €23,324 | +€55 | +0.2% |
| Gross operating margin | 9900 | €340,918 | €438,760 | +€97,842 | +28.7% |
| Operating profit (loss) | 9901 | €30,866 | €113,019 | +€82,153 | +266% |
| Financial income | 75/76B | €43 | €4 | -€39 | -90.6% |
| Recurring financial income | 75 | €43 | €4 | -€39 | -90.6% |
| Financial charges | 65/66B | €81,735 | €86,849 | +€5,114 | +6.3% |
| Recurring financial charges | 65 | €81,735 | €86,849 | +€5,114 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | -€50,825 | €26,174 | +€76,999 | |
| Transfer from deferred taxes | 780 | €2,847 | €2,847 | = | 0.0% |
| Income taxes | 67/77 | €303 | €306 | +€2 | +0.7% |
| Profit (loss) for the period | 9904 | -€48,282 | €28,715 | +€76,997 | |
| Transfer from tax-exempt reserves | 789 | €8,540 | €8,540 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,742 | €37,255 | +€76,997 |
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 18 October 2026 via checked.be.