IMMO DE MEEUS: 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 MEEUS
Largest movements
- Tangible fixed assets -€545,325
down €545,325 (-2.8%), from €19.6m to €19.1m
of which Land and buildings: -€589,095
- Receivables within one year +€512,822
up €512,822 (+65.8%), from €779,182 to €1.3m
of which Other amounts receivable: +€352,127
- Deferred charges and accrued income +€466,783
up €466,783 (+29.4%), from €1.6m to €2.1m
- Debts after one year +€20.0m
up €20.0m (+156,117%), from €12,811 to €20.0m
of which Financial debts: +€20.0m
- Current portion of long-term debt -€20.0m
down €20.0m (-100%), from €20.0m to €0
- Trade debts +€604,632
up €604,632 (+49.7%), from €1.2m to €1.8m
- Other debts -€343,184
down €343,184 (-14.8%), from €2.3m to €2.0m
- Gross operating margin +€1.1m
up €1.1m (+30.4%), from €3.5m to €4.6m
- Turnover +€335,297
up €335,297 (+10.4%), from €3.2m to €3.5m
- Other operating charges +€287,634
up €287,634 (+34.3%), from €839,779 to €1.1m
- Financial charges -€194,337
down €194,337 (-35.1%), from €553,010 to €358,672
of which Financial charges: -€194,337
- Purchases and services -€189,659
down €189,659 (-14.0%), from €1.4m to €1.2m
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,638,175 | €25,989,064 | +€350,889 | +1.4% |
| Fixed assets | 21/28 | €19,627,703 | €19,082,378 | -€545,325 | -2.8% |
| Tangible fixed assets | 22/27 | €19,627,703 | €19,082,378 | -€545,325 | -2.8% |
| Land and buildings | 22 | €18,247,567 | €17,658,473 | -€589,095 | -3.2% |
| Plant, machinery and equipment | 23 | €1,380,135 | €1,423,905 | +€43,770 | +3.2% |
| Current assets | 29/58 | €6,010,473 | €6,906,686 | +€896,214 | +14.9% |
| Amounts receivable within one year | 40/41 | €779,182 | €1,292,005 | +€512,822 | +65.8% |
| Trade receivables | 40 | €733,509 | €894,204 | +€160,695 | +21.9% |
| Other amounts receivable | 41 | €45,673 | €397,800 | +€352,127 | +771% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,641,965 | €3,558,573 | -€83,391 | -2.3% |
| Deferred charges and accrued income | 490/1 | €1,589,326 | €2,056,109 | +€466,783 | +29.4% |
| Total equity and liabilities | 10/49 | €25,638,175 | €25,989,064 | +€350,889 | +1.4% |
| Equity | 10/15 | €1,718,750 | €1,718,750 | = | 0.0% |
| Contributions | 10/11 | €1,562,500 | €1,562,500 | = | 0.0% |
| Capital | 10 | €1,562,500 | €1,562,500 | = | 0.0% |
| Issued capital | 100 | €1,562,500 | €1,562,500 | = | 0.0% |
| Reserves | 13 | €156,250 | €156,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €156,250 | €156,250 | = | 0.0% |
| Legal reserve | 130 | €156,250 | €156,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €23,919,425 | €24,270,314 | +€350,889 | +1.5% |
| Amounts payable after more than one year | 17 | €12,811 | €20,012,811 | +€20.0m | +156,117% |
| Financial debts | 170/4 | €0 | €20,000,000 | +€20.0m | |
| Other amounts payable | 178/9 | €12,811 | €12,811 | = | 0.0% |
| Amounts payable within one year | 42/48 | €23,620,192 | €3,925,748 | -€19.7m | -83.4% |
| Current portion of amounts payable after more than one year | 42 | €20,000,000 | €0 | -€20.0m | -100% |
| Financial debts | 43 | €61,311 | €51,397 | -€9,914 | -16.2% |
| Other loans | 439 | €61,311 | €51,397 | -€9,914 | -16.2% |
| Trade debts | 44 | €1,217,742 | €1,822,374 | +€604,632 | +49.7% |
| Suppliers | 440/4 | €1,217,742 | €1,822,374 | +€604,632 | +49.7% |
| Taxes, remuneration and social security | 45 | €28,619 | €82,641 | +€54,022 | +189% |
| Taxes | 450/3 | €28,619 | €82,641 | +€54,022 | +189% |
| Other amounts payable | 47/48 | €2,312,519 | €1,969,335 | -€343,184 | -14.8% |
| Accrued charges and deferred income | 492/3 | €286,423 | €331,756 | +€45,333 | +15.8% |
| Turnover | 70 | €3,211,747 | €3,547,044 | +€335,297 | +10.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,357,265 | €1,167,606 | -€189,659 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €773,310 | €807,123 | +€33,813 | +4.4% |
| Other operating charges | 640/8 | €839,779 | €1,127,412 | +€287,634 | +34.3% |
| Gross operating margin | 9900 | €3,507,112 | €4,574,494 | +€1.1m | +30.4% |
| Operating profit (loss) | 9901 | €1,894,024 | €2,639,959 | +€745,936 | +39.4% |
| Financial income | 75/76B | €57,600 | €0 | -€57,600 | -100% |
| Recurring financial income | 75 | €57,600 | €0 | -€57,600 | -100% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €553,010 | €358,672 | -€194,337 | -35.1% |
| Recurring financial charges | 65 | €553,010 | €358,672 | -€194,337 | -35.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €1,398,614 | €2,281,287 | +€882,673 | +63.1% |
| Income taxes | 67/77 | €413,627 | €459,700 | +€46,073 | +11.1% |
| Profit (loss) for the period | 9904 | €984,987 | €1,821,587 | +€836,600 | +84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €984,987 | €1,821,587 | +€836,600 | +84.9% |
Source: filed annual accounts (NBB), financial years ended 30 April 2025 and 30 April 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.