IMMO DE MAEGD: 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 DE MAEGD
Largest movements
- Cash +€953,504
up €953,504 (+35618.5%), from €2,677 to €956,181
mainly Net result for the year (+€1.2m) and Investment in fixed assets (net) (+€120,483)
- Tangible fixed assets -€222,488
down €222,488 (-8.7%), from €2.6m to €2.3m
of which Land and buildings: -€209,686
- Reserves +€885,473
up €885,473 (+253.0%), from €349,932 to €1.2m
of which Distributable reserves: +€889,862
- Debts after one year -€397,370
down €397,370 (-31.6%), from €1.3m to €861,407
of which Financial debts: -€379,370
- Profit (loss) carried forward +€268,919
up €268,919, from -€268,919 to €0
- Other debts -€88,000
down €88,000 (-98.1%), from €89,739 to €1,739
- Accrued charges and deferred income +€41,300
up €41,300 (+12.9%), from €321,305 to €362,605
- Gross operating margin +€1.6m
up €1.6m (+1404.3%), from €112,112 to €1.7m
- Taxes +€361,134
new in 2025: €361,134
- Depreciation -€22,439
down €22,439 (-18.0%), from €124,443 to €102,004
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 | €2,732,457 | €3,452,685 | +€720,228 | +26.4% |
| Fixed assets | 21/28 | €2,563,657 | €2,341,169 | -€222,488 | -8.7% |
| Tangible fixed assets | 22/27 | €2,563,657 | €2,341,169 | -€222,488 | -8.7% |
| Land and buildings | 22 | €2,505,432 | €2,295,747 | -€209,686 | -8.4% |
| Plant, machinery and equipment | 23 | €15,019 | €7,922 | -€7,097 | -47.3% |
| Furniture and vehicles | 24 | €43,205 | €37,500 | -€5,705 | -13.2% |
| Current assets | 29/58 | €168,800 | €1,111,516 | +€942,716 | +558.5% |
| Amounts receivable after more than one year | 29 | €153,366 | €141,005 | -€12,361 | -8.1% |
| Other amounts receivable | 291 | €153,366 | €141,005 | -€12,361 | -8.1% |
| Amounts receivable within one year | 40/41 | €12,373 | €12,361 | -€13 | -0.1% |
| Trade receivables | 40 | €300 | €0 | -€300 | -100.0% |
| Other amounts receivable | 41 | €12,073 | €12,361 | +€287 | +2.4% |
| Cash at bank and in hand | 54/58 | €2,677 | €956,181 | +€953,504 | +35618.5% |
| Deferred charges and accrued income | 490/1 | €384 | €1,969 | +€1,585 | +413.0% |
| Total equity and liabilities | 10/49 | €2,732,457 | €3,452,685 | +€720,228 | +26.4% |
| Equity | 10/15 | €1,008,013 | €2,162,405 | +€1.2m | +114.5% |
| Contributions | 10/11 | €927,000 | €927,000 | = | 0.0% |
| Capital | 10 | €927,000 | €927,000 | = | 0.0% |
| Issued capital | 100 | €927,000 | €927,000 | = | 0.0% |
| Reserves | 13 | €349,932 | €1,235,405 | +€885,473 | +253.0% |
| Non-distributable reserves | 130/1 | €27,500 | €27,500 | = | 0.0% |
| Legal reserve | 130 | €27,500 | €27,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €127,283 | €122,894 | -€4,389 | -3.4% |
| Distributable reserves | 133 | €195,149 | €1,085,011 | +€889,862 | +456.0% |
| Profit (loss) carried forward | 14 | -€268,919 | €0 | +€268,919 | |
| Provisions and deferred taxes | 16 | €42,428 | €40,965 | -€1,463 | -3.4% |
| Deferred taxes | 168 | €42,428 | €40,965 | -€1,463 | -3.4% |
| Amounts payable | 17/49 | €1,682,016 | €1,249,315 | -€432,700 | -25.7% |
| Amounts payable after more than one year | 17 | €1,258,777 | €861,407 | -€397,370 | -31.6% |
| Financial debts | 170/4 | €1,240,777 | €861,407 | -€379,370 | -30.6% |
| Other amounts payable | 178/9 | €18,000 | €0 | -€18,000 | -100.0% |
| Amounts payable within one year | 42/48 | €101,933 | €25,303 | -€76,630 | -75.2% |
| Current portion of amounts payable after more than one year | 42 | €12,087 | €12,370 | +€283 | +2.3% |
| Trade debts | 44 | €108 | €60 | -€48 | -44.2% |
| Suppliers | 440/4 | €108 | €60 | -€48 | -44.2% |
| Taxes, remuneration and social security | 45 | - | €11,134 | +€11,134 | |
| Taxes | 450/3 | - | €11,134 | +€11,134 | |
| Other amounts payable | 47/48 | €89,739 | €1,739 | -€88,000 | -98.1% |
| Accrued charges and deferred income | 492/3 | €321,305 | €362,605 | +€41,300 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,443 | €102,004 | -€22,439 | -18.0% |
| Other operating charges | 640/8 | €17,961 | €17,793 | -€168 | -0.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €112,112 | €1,686,524 | +€1.6m | +1404.3% |
| Operating profit (loss) | 9901 | -€30,292 | €1,566,727 | +€1.6m | |
| Financial income | 75/76B | €4,048 | €3,767 | -€281 | -6.9% |
| Recurring financial income | 75 | €4,048 | €3,767 | -€281 | -6.9% |
| Financial charges | 65/66B | €70,518 | €56,431 | -€14,088 | -20.0% |
| Recurring financial charges | 65 | €70,518 | €56,431 | -€14,088 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | -€96,762 | €1,514,063 | +€1.6m | |
| Transfer from deferred taxes | 780 | €1,463 | €1,463 | = | 0.0% |
| Income taxes | 67/77 | - | €361,134 | +€361,134 | |
| Profit (loss) for the period | 9904 | -€95,299 | €1,154,392 | +€1.2m | |
| Transfer from tax-exempt reserves | 789 | €4,389 | €4,389 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€90,910 | €1,158,781 | +€1.2m |
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.