IMMO J.M.B.: 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 J.M.B.
Largest movements
- Tangible fixed assets +€570,464
up €570,464 (+118%), from €484,006 to €1.1m
- Financial fixed assets -€508,810
down €508,810 (-44.3%), from €1.1m to €640,678
- Receivables within one year +€149,444
up €149,444 (+21.4%), from €696,994 to €846,437
- Cash -€77,118
down €77,118 (-75.0%), from €102,812 to €25,694
mainly Contributions, distributions and other (-€900,000) and Receivables within one year (-€149,444)
- Revaluation surpluses +€494,158
new in 2025: €494,158
- Reserves -€342,298
down €342,298 (-56.5%), from €605,455 to €263,156
of which Distributable reserves: -€342,298
- Trade debts -€34,212
down €34,212 (-98.7%), from €34,660 to €448
- Financial income +€224,536
up €224,536 (+29.9%), from €750,000 to €974,536
of which Financial income: +€150,826
- Gross operating margin +€61,345
up €61,345 (+57.1%), from €107,420 to €168,766
- Taxes +€21,433
up €21,433 (+188%), from €11,423 to €32,856
- Depreciation +€10,207
up €10,207 (+89.0%), from €11,467 to €21,673
- Financial charges -€6,870
down €6,870 (-31.2%), from €21,990 to €15,121
of which Financial charges: -€7,370
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 | €2,444,747 | €2,567,434 | +€122,687 | +5.0% |
| Fixed assets | 21/28 | €1,633,494 | €1,695,148 | +€61,654 | +3.8% |
| Tangible fixed assets | 22/27 | €484,006 | €1,054,470 | +€570,464 | +118% |
| Land and buildings | 22 | €484,006 | €1,054,470 | +€570,464 | +118% |
| Financial fixed assets | 28 | €1,149,488 | €640,678 | -€508,810 | -44.3% |
| Current assets | 29/58 | €811,253 | €872,286 | +€61,033 | +7.5% |
| Amounts receivable within one year | 40/41 | €696,994 | €846,437 | +€149,444 | +21.4% |
| Other amounts receivable | 41 | €696,994 | €846,437 | +€149,444 | +21.4% |
| Cash at bank and in hand | 54/58 | €102,812 | €25,694 | -€77,118 | -75.0% |
| Deferred charges and accrued income | 490/1 | €11,448 | €155 | -€11,293 | -98.6% |
| Total equity and liabilities | 10/49 | €2,444,747 | €2,567,434 | +€122,687 | +5.0% |
| Equity | 10/15 | €805,455 | €957,314 | +€151,859 | +18.9% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €494,158 | +€494,158 | |
| Reserves | 13 | €605,455 | €263,156 | -€342,298 | -56.5% |
| Tax-exempt reserves | 132 | €2,522 | €2,522 | = | 0.0% |
| Distributable reserves | 133 | €602,932 | €260,634 | -€342,298 | -56.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,639,293 | €1,610,120 | -€29,173 | -1.8% |
| Amounts payable after more than one year | 17 | €177,892 | €161,928 | -€15,963 | -9.0% |
| Financial debts | 170/4 | €177,892 | €161,928 | -€15,963 | -9.0% |
| Amounts payable within one year | 42/48 | €1,430,754 | €1,415,799 | -€14,955 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €21,192 | €21,020 | -€172 | -0.8% |
| Trade debts | 44 | €34,660 | €448 | -€34,212 | -98.7% |
| Suppliers | 440/4 | €34,660 | €448 | -€34,212 | -98.7% |
| Taxes, remuneration and social security | 45 | €11,102 | €31,849 | +€20,747 | +187% |
| Taxes | 450/3 | €11,102 | €31,849 | +€20,747 | +187% |
| Other amounts payable | 47/48 | €1,363,800 | €1,362,482 | -€1,318 | -0.1% |
| Accrued charges and deferred income | 492/3 | €30,647 | €32,392 | +€1,745 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,467 | €21,673 | +€10,207 | +89.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €20,089 | €21,793 | +€1,704 | +8.5% |
| Gross operating margin | 9900 | €107,420 | €168,766 | +€61,345 | +57.1% |
| Operating profit (loss) | 9901 | €75,865 | €125,300 | +€49,435 | +65.2% |
| Financial income | 75/76B | €750,000 | €974,536 | +€224,536 | +29.9% |
| Recurring financial income | 75 | €750,000 | €900,826 | +€150,826 | +20.1% |
| Non-recurring financial income | 76B | - | €73,710 | +€73,710 | |
| Financial charges | 65/66B | €21,990 | €15,121 | -€6,870 | -31.2% |
| Recurring financial charges | 65 | €21,990 | €14,621 | -€7,370 | -33.5% |
| Non-recurring financial charges | 66B | - | €500 | +€500 | |
| Profit (loss) for the period before taxes | 9903 | €803,875 | €1,084,715 | +€280,840 | +34.9% |
| Income taxes | 67/77 | €11,423 | €32,856 | +€21,433 | +188% |
| Profit (loss) for the period | 9904 | €792,452 | €1,051,859 | +€259,407 | +32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €792,452 | €1,051,859 | +€259,407 | +32.7% |
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 23 October 2026 via checked.be.