IMMO D.M.: 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.
IMMO D.M.
Largest movements
- Cash -€458,514
down €458,514 (-67.5%), from €678,880 to €220,366
mainly Provisions (-€220,362) and Investment in fixed assets (net) (-€188,342)
- Tangible fixed assets +€153,909
up €153,909 (+7.2%), from €2.1m to €2.3m
of which Land and buildings: +€153,909
- Receivables within one year +€52,212
up €52,212 (+91.9%), from €56,844 to €109,056
of which Other amounts receivable: +€52,919
- Profit (loss) carried forward +€634,821
up €634,821 (+3298.3%), from €19,247 to €654,068
- Reserves -€627,530
down €627,530 (-56.6%), from €1.1m to €480,437
of which Tax-exempt reserves: -€661,085
- Provisions -€220,362
down €220,362 (-100.0%), from €220,362 to €0
- Debts after one year -€45,843
down €45,843 (-24.9%), from €184,150 to €138,308
- Taxes +€217,778
up €217,778 (+4395.2%), from €4,955 to €222,733
- Gross operating margin -€8,507
down €8,507 (-13.1%), from €65,183 to €56,676
- Financial income +€2,324
up €2,324 (+153.2%), from €1,516 to €3,840
- Financial charges -€1,883
down €1,883 (-14.7%), from €12,803 to €10,920
- Other operating charges -€1,478
down €1,478 (-21.2%), from €6,980 to €5,502
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 | €2,870,065 | €2,617,826 | -€252,239 | -8.8% |
| Fixed assets | 21/28 | €2,133,984 | €2,287,893 | +€153,909 | +7.2% |
| Tangible fixed assets | 22/27 | €2,133,984 | €2,287,893 | +€153,909 | +7.2% |
| Land and buildings | 22 | €1,444,799 | €1,598,708 | +€153,909 | +10.7% |
| Other tangible fixed assets | 26 | €689,185 | €689,185 | = | 0.0% |
| Current assets | 29/58 | €736,081 | €329,933 | -€406,148 | -55.2% |
| Amounts receivable within one year | 40/41 | €56,844 | €109,056 | +€52,212 | +91.9% |
| Trade receivables | 40 | €707 | €0 | -€707 | -100.0% |
| Other amounts receivable | 41 | €56,137 | €109,056 | +€52,919 | +94.3% |
| Cash at bank and in hand | 54/58 | €678,880 | €220,366 | -€458,514 | -67.5% |
| Deferred charges and accrued income | 490/1 | €357 | €511 | +€154 | +43.1% |
| Total equity and liabilities | 10/49 | €2,870,065 | €2,617,826 | -€252,239 | -8.8% |
| Equity | 10/15 | €2,400,775 | €2,408,066 | +€7,291 | +0.3% |
| Contributions | 10/11 | €1,273,561 | €1,273,561 | = | 0.0% |
| Capital | 10 | €1,273,561 | €1,273,561 | = | 0.0% |
| Issued capital | 100 | €1,273,561 | €1,273,561 | = | 0.0% |
| Reserves | 13 | €1,107,967 | €480,437 | -€627,530 | -56.6% |
| Non-distributable reserves | 130/1 | €23,792 | €57,347 | +€33,555 | +141.0% |
| Legal reserve | 130 | €23,792 | €57,347 | +€33,555 | +141.0% |
| Tax-exempt reserves | 132 | €661,085 | €0 | -€661,085 | -100.0% |
| Distributable reserves | 133 | €423,090 | €423,090 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,247 | €654,068 | +€634,821 | +3298.3% |
| Provisions and deferred taxes | 16 | €220,362 | €0 | -€220,362 | -100.0% |
| Deferred taxes | 168 | €220,362 | €0 | -€220,362 | -100.0% |
| Amounts payable | 17/49 | €248,928 | €209,760 | -€39,167 | -15.7% |
| Amounts payable after more than one year | 17 | €184,150 | €138,308 | -€45,843 | -24.9% |
| Financial debts | 170/4 | €184,150 | €138,308 | -€45,843 | -24.9% |
| Amounts payable within one year | 42/48 | €64,777 | €71,453 | +€6,675 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €43,647 | €45,843 | +€2,195 | +5.0% |
| Trade debts | 44 | €1,666 | €21,035 | +€19,368 | +1162.4% |
| Suppliers | 440/4 | €1,666 | €21,035 | +€19,368 | +1162.4% |
| Taxes, remuneration and social security | 45 | €4,500 | €4,576 | +€76 | +1.7% |
| Taxes | 450/3 | €4,500 | €4,576 | +€76 | +1.7% |
| Other amounts payable | 47/48 | €14,964 | €0 | -€14,964 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,034 | €34,433 | +€1,398 | +4.2% |
| Other operating charges | 640/8 | €6,980 | €5,502 | -€1,478 | -21.2% |
| Gross operating margin | 9900 | €65,183 | €56,676 | -€8,507 | -13.1% |
| Operating profit (loss) | 9901 | €25,169 | €16,742 | -€8,427 | -33.5% |
| Financial income | 75/76B | €1,516 | €3,840 | +€2,324 | +153.2% |
| Recurring financial income | 75 | €1,516 | €3,840 | +€2,324 | +153.2% |
| Financial charges | 65/66B | €12,803 | €10,920 | -€1,883 | -14.7% |
| Recurring financial charges | 65 | €12,803 | €10,920 | -€1,883 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €13,882 | €9,662 | -€4,221 | -30.4% |
| Transfer from deferred taxes | 780 | €2,329 | €220,362 | +€218,032 | +9360.3% |
| Income taxes | 67/77 | €4,955 | €222,733 | +€217,778 | +4395.2% |
| Profit (loss) for the period | 9904 | €11,257 | €7,291 | -€3,966 | -35.2% |
| Transfer from tax-exempt reserves | 789 | €6,988 | €661,085 | +€654,097 | +9360.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,245 | €668,376 | +€650,131 | +3563.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.