Immo De Maeyer: 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.
Immo De Maeyer
Largest movements
- Tangible fixed assets +€503,601
up €503,601 (+51.9%), from €971,028 to €1.5m
of which Land and buildings: +€504,719
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€15,628
up €15,628 (+57.9%), from €26,971 to €42,599
mainly Other debts (+€490,287) and Current investments (+€100,000)
- Other debts +€490,287
up €490,287 (+357%), from €137,392 to €627,679
- Profit (loss) carried forward -€28,850
down €28,850 (-2,864%), from -€1,007 to -€29,858
- Reserves -€26,162
down €26,162 (-4.6%), from €564,788 to €538,626
of which Tax-exempt reserves: -€26,162
- Depreciation +€43,680
up €43,680 (+3,908%), from €1,118 to €44,798
- Financial charges -€20,845
down €20,845 (-99.0%), from €21,047 to €202
- Gross operating margin -€9,507
down €9,507 (-255%), from -€3,725 to -€13,232
- Financial income +€2,087
new in 2025: €2,087
- Taxes +€691
up €691 (+35.6%), from €1,942 to €2,633
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 | €1,098,000 | €1,517,229 | +€419,230 | +38.2% |
| Fixed assets | 21/28 | €971,028 | €1,474,630 | +€503,601 | +51.9% |
| Tangible fixed assets | 22/27 | €971,028 | €1,474,630 | +€503,601 | +51.9% |
| Land and buildings | 22 | €968,585 | €1,473,304 | +€504,719 | +52.1% |
| Plant, machinery and equipment | 23 | €2,444 | €1,326 | -€1,118 | -45.7% |
| Current assets | 29/58 | €126,971 | €42,599 | -€84,372 | -66.4% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €26,971 | €42,599 | +€15,628 | +57.9% |
| Total equity and liabilities | 10/49 | €1,098,000 | €1,517,229 | +€419,230 | +38.2% |
| Equity | 10/15 | €625,780 | €570,768 | -€55,012 | -8.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €564,788 | €538,626 | -€26,162 | -4.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €196,215 | €170,053 | -€26,162 | -13.3% |
| Distributable reserves | 133 | €362,372 | €362,372 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,007 | -€29,858 | -€28,850 | -2,864% |
| Provisions and deferred taxes | 16 | €65,405 | €56,684 | -€8,721 | -13.3% |
| Deferred taxes | 168 | €65,405 | €56,684 | -€8,721 | -13.3% |
| Amounts payable | 17/49 | €406,814 | €889,777 | +€482,963 | +119% |
| Amounts payable after more than one year | 17 | €260,000 | €260,000 | = | 0.0% |
| Financial debts | 170/4 | €260,000 | €260,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €146,814 | €629,777 | +€482,963 | +329% |
| Trade debts | 44 | €3,166 | €2,097 | -€1,069 | -33.8% |
| Suppliers | 440/4 | €3,166 | €2,097 | -€1,069 | -33.8% |
| Taxes, remuneration and social security | 45 | €6,256 | - | -€6,256 | |
| Taxes | 450/3 | €6,256 | - | -€6,256 | |
| Other amounts payable | 47/48 | €137,392 | €627,679 | +€490,287 | +357% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,118 | €44,798 | +€43,680 | +3,908% |
| Other operating charges | 640/8 | €4,594 | €4,955 | +€360 | +7.8% |
| Gross operating margin | 9900 | -€3,725 | -€13,232 | -€9,507 | -255% |
| Operating profit (loss) | 9901 | -€9,437 | -€62,985 | -€53,547 | -567% |
| Financial income | 75/76B | - | €2,087 | +€2,087 | |
| Recurring financial income | 75 | - | €2,087 | +€2,087 | |
| Financial charges | 65/66B | €21,047 | €202 | -€20,845 | -99.0% |
| Recurring financial charges | 65 | €21,047 | €202 | -€20,845 | -99.0% |
| Profit (loss) for the period before taxes | 9903 | -€30,484 | -€61,100 | -€30,616 | -100% |
| Transfer from deferred taxes | 780 | €8,721 | €8,721 | = | 0.0% |
| Income taxes | 67/77 | €1,942 | €2,633 | +€691 | +35.6% |
| Profit (loss) for the period | 9904 | -€23,706 | -€55,012 | -€31,307 | -132% |
| Transfer from tax-exempt reserves | 789 | €26,162 | €26,162 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,457 | -€28,850 | -€31,307 |
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 28 October 2026 via checked.be.