IMMO LEMAHIEU: 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.
What changed
IMMO LEMAHIEU
NACE 55.209, Other holiday and short-stay accommodation
financial year 31-12-2025 compared with 31-12-2024filed annual accounts (NBB)
Net result for the year
€76,461
31-12-2024 · €65,647+€10,814
Equity
€618,889
31-12-2024 · €542,428+€76,461
Cash
€58,139
31-12-2024 · €36,592+€21,547
Balance sheet total
€2.6m
31-12-2024 · €2.7m-€107,242
Largest movements
Assets
- Receivables after one year -€100,000
no longer reported in 2025 (was €100,000)
- Receivables within one year -€73,393
down €73,393 (-83.7%), from €87,661 to €14,267
of which Trade receivables: -€57,835
- Tangible fixed assets +€42,692
up €42,692 (+3.1%), from €1.4m to €1.4m
of which Land and buildings: +€79,109
Equity and liabilities
- Debts after one year -€194,180
down €194,180 (-9.8%), from €2.0m to €1.8m
of which Financial debts: -€194,180
- Profit (loss) carried forward +€59,377
no longer reported in 2025 (was -€59,377)
Income statement
- Gross operating margin +€71,872
up €71,872 (+89.2%), from €80,569 to €152,441
- Depreciation +€51,302
up €51,302 (+128%), from €40,064 to €91,365
- Financial charges +€19,624
up €19,624 (+60.2%), from €32,619 to €52,242
- Financial income +€10,000
up €10,000 (+15.4%), from €65,000 to €75,000
From the 31-12-2024 result to the 31-12-2025 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.
Result 31-12-2024
€65,647
Gross operating margin
+€71,872
Depreciation
-€51,302
Other operating charges
-€133
Financial income
+€10,000
Financial charges
-€19,624
Result 31-12-2025
€76,461
raises the resultlowers the result
Derived cash bridge
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€346,557
Investment
-€135,558
Financing
-€189,452
Cash 31-12-2024
€36,592
From operations (derived)
+€346,557
Net result for the year
+€76,461
Depreciation
+€91,365
Receivables after one year
+€100,000
Receivables within one year
+€73,393
Deferred charges and accrued income
-€412
Trade debts
-€26,983
Tax, wage and social debts
+€12,361
Advances received
+€1,815
Other debts
+€19,680
Accrued charges and deferred income
-€1,125
Investment (derived)
-€135,558
Investment in fixed assets (net)
-€135,558
Financing
-€189,452
Debts after one year
-€194,180
Current portion of long-term debt
+€4,728
Cash 31-12-2025
€58,139
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,734,088 | €2,626,846 | -€107,242 | -3.9% |
| Fixed assets | 21/28 | €2,509,835 | €2,554,027 | +€44,192 | +1.8% |
| Tangible fixed assets | 22/27 | €1,388,263 | €1,430,955 | +€42,692 | +3.1% |
| Land and buildings | 22 | €599,367 | €678,476 | +€79,109 | +13.2% |
| Plant, machinery and equipment | 23 | - | €17,199 | +€17,199 | |
| Furniture and vehicles | 24 | €36,227 | €33,511 | -€2,716 | -7.5% |
| Other tangible fixed assets | 26 | €752,668 | €701,768 | -€50,900 | -6.8% |
| Financial fixed assets | 28 | €1,121,572 | €1,123,072 | +€1,500 | +0.1% |
| Current assets | 29/58 | €224,253 | €72,818 | -€151,435 | -67.5% |
| Amounts receivable after more than one year | 29 | €100,000 | - | -€100,000 | |
| Other amounts receivable | 291 | €100,000 | - | -€100,000 | |
| Amounts receivable within one year | 40/41 | €87,661 | €14,267 | -€73,393 | -83.7% |
| Trade receivables | 40 | €72,102 | €14,267 | -€57,835 | -80.2% |
| Other amounts receivable | 41 | €15,559 | - | -€15,559 | |
| Cash at bank and in hand | 54/58 | €36,592 | €58,139 | +€21,547 | +58.9% |
| Deferred charges and accrued income | 490/1 | - | €412 | +€412 | |
| Total equity and liabilities | 10/49 | €2,734,088 | €2,626,846 | -€107,242 | -3.9% |
| Equity | 10/15 | €542,428 | €618,889 | +€76,461 | +14.1% |
| Contributions | 10/11 | €598,600 | €598,600 | = | 0.0% |
| Capital | 10 | €598,600 | €598,600 | = | 0.0% |
| Issued capital | 100 | €598,600 | €598,600 | = | 0.0% |
| Reserves | 13 | €3,205 | €20,289 | +€17,084 | +533% |
| Non-distributable reserves | 130/1 | €3,205 | €3,205 | = | 0.0% |
| Legal reserve | 130 | €3,205 | €3,205 | = | 0.0% |
| Distributable reserves | 133 | - | €17,084 | +€17,084 | |
| Profit (loss) carried forward | 14 | -€59,377 | - | +€59,377 | |
| Amounts payable | 17/49 | €2,191,659 | €2,007,956 | -€183,703 | -8.4% |
| Amounts payable after more than one year | 17 | €1,980,925 | €1,786,745 | -€194,180 | -9.8% |
| Financial debts | 170/4 | €1,980,725 | €1,786,545 | -€194,180 | -9.8% |
| Other amounts payable | 178/9 | €200 | €200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €191,171 | €202,773 | +€11,602 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €139,397 | €144,125 | +€4,728 | +3.4% |
| Trade debts | 44 | €50,236 | €23,253 | -€26,983 | -53.7% |
| Suppliers | 440/4 | €50,236 | €23,253 | -€26,983 | -53.7% |
| Advances received on contracts in progress | 46 | - | €1,815 | +€1,815 | |
| Taxes, remuneration and social security | 45 | - | €12,361 | +€12,361 | |
| Taxes | 450/3 | - | €12,361 | +€12,361 | |
| Other amounts payable | 47/48 | €1,538 | €21,218 | +€19,680 | +1,280% |
| Accrued charges and deferred income | 492/3 | €19,563 | €18,439 | -€1,125 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,064 | €91,365 | +€51,302 | +128% |
| Other operating charges | 640/8 | €7,239 | €7,373 | +€133 | +1.8% |
| Gross operating margin | 9900 | €80,569 | €152,441 | +€71,872 | +89.2% |
| Operating profit (loss) | 9901 | €33,266 | €53,703 | +€20,437 | +61.4% |
| Financial income | 75/76B | €65,000 | €75,000 | +€10,000 | +15.4% |
| Recurring financial income | 75 | €65,000 | €75,000 | +€10,000 | +15.4% |
| Financial charges | 65/66B | €32,619 | €52,242 | +€19,624 | +60.2% |
| Recurring financial charges | 65 | €32,619 | €52,242 | +€19,624 | +60.2% |
| Profit (loss) for the period before taxes | 9903 | €65,647 | €76,461 | +€10,814 | +16.5% |
| Profit (loss) for the period | 9904 | €65,647 | €76,461 | +€10,814 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €65,647 | €76,461 | +€10,814 | +16.5% |
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 15 October 2026 via checked.be.