IMMO M.: 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.
What changed
IMMO M.
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€39,125
2024 · €38,678+€447
Equity
€681,061
2024 · €641,936+€39,125
Cash
€9,264
2024 · €10,240-€977
Balance sheet total
€1.4m
2024 · €1.4m-€9,728
Largest movements
Assets
- Tangible fixed assets -€23,886
down €23,886 (-7.7%), from €312,051 to €288,166
Equity and liabilities
- Debts after one year -€54,614
down €54,614 (-9.7%), from €563,384 to €508,769
- Reserves +€39,125
up €39,125 (+14.9%), from €263,236 to €302,361
of which Distributable reserves: +€45,166
- Other debts +€20,412
up €20,412 (+16.4%), from €124,572 to €144,984
Income statement
- Other operating charges -€3,307
down €3,307 (-22.3%), from €14,801 to €11,494
- Taxes +€2,079
up €2,079 (+16.0%), from €12,976 to €15,055
- Financial income -€1,415
down €1,415 (-24.8%), from €5,717 to €4,302
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.
Result 2024
€38,678
Gross operating margin
+€408
Other operating charges
+€3,307
Financial income
-€1,415
Financial charges
+€226
Taxes
-€2,079
Result 2025
€39,125
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.
From operations
+€64,275
Investment
€0
Financing
-€65,252
Cash 2024
€10,240
From operations (derived)
+€64,275
Net result for the year
+€39,125
Depreciation
+€23,886
Receivables within one year
-€13,633
Deferred charges and accrued income
-€1,502
Provisions
-€2,014
Trade debts
-€1,477
Tax, wage and social debts
+€460
Other debts
+€20,412
Accrued charges and deferred income
-€982
Financing
-€65,252
Debts after one year
-€54,614
Current portion of long-term debt
-€10,637
Cash 2025
€9,264
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,413,234 | €1,403,506 | -€9,728 | -0.7% |
| Fixed assets | 21/28 | €1,121,851 | €1,097,966 | -€23,886 | -2.1% |
| Tangible fixed assets | 22/27 | €312,051 | €288,166 | -€23,886 | -7.7% |
| Land and buildings | 22 | €312,051 | €288,166 | -€23,886 | -7.7% |
| Financial fixed assets | 28 | €809,800 | €809,800 | = | 0.0% |
| Current assets | 29/58 | €291,382 | €305,540 | +€14,158 | +4.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €281,142 | €294,775 | +€13,633 | +4.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €281,142 | €294,775 | +€13,633 | +4.8% |
| Cash at bank and in hand | 54/58 | €10,240 | €9,264 | -€977 | -9.5% |
| Deferred charges and accrued income | 490/1 | €0 | €1,502 | +€1,502 | |
| Total equity and liabilities | 10/49 | €1,413,234 | €1,403,506 | -€9,728 | -0.7% |
| Equity | 10/15 | €641,936 | €681,061 | +€39,125 | +6.1% |
| Contributions | 10/11 | €378,700 | €378,700 | = | 0.0% |
| Reserves | 13 | €263,236 | €302,361 | +€39,125 | +14.9% |
| Tax-exempt reserves | 132 | €18,133 | €12,092 | -€6,041 | -33.3% |
| Distributable reserves | 133 | €245,103 | €290,269 | +€45,166 | +18.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €6,044 | €4,031 | -€2,014 | -33.3% |
| Deferred taxes | 168 | €6,044 | €4,031 | -€2,014 | -33.3% |
| Amounts payable | 17/49 | €765,253 | €718,414 | -€46,839 | -6.1% |
| Amounts payable after more than one year | 17 | €563,384 | €508,769 | -€54,614 | -9.7% |
| Financial debts | 170/4 | €563,384 | €508,769 | -€54,614 | -9.7% |
| Amounts payable within one year | 42/48 | €200,887 | €209,644 | +€8,757 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €68,649 | €58,011 | -€10,637 | -15.5% |
| Trade debts | 44 | €3,877 | €2,399 | -€1,477 | -38.1% |
| Suppliers | 440/4 | €3,877 | €2,399 | -€1,477 | -38.1% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,790 | €4,250 | +€460 | +12.1% |
| Taxes | 450/3 | €3,790 | €4,250 | +€460 | +12.1% |
| Other amounts payable | 47/48 | €124,572 | €144,984 | +€20,412 | +16.4% |
| Accrued charges and deferred income | 492/3 | €982 | €0 | -€982 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,886 | €23,886 | = | 0.0% |
| Other operating charges | 640/8 | €14,801 | €11,494 | -€3,307 | -22.3% |
| Gross operating margin | 9900 | €100,333 | €100,741 | +€408 | +0.4% |
| Operating profit (loss) | 9901 | €61,646 | €65,361 | +€3,715 | +6.0% |
| Financial income | 75/76B | €5,717 | €4,302 | -€1,415 | -24.8% |
| Recurring financial income | 75 | €5,717 | €4,302 | -€1,415 | -24.8% |
| Financial charges | 65/66B | €17,721 | €17,495 | -€226 | -1.3% |
| Recurring financial charges | 65 | €17,721 | €17,495 | -€226 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €49,641 | €52,167 | +€2,526 | +5.1% |
| Transfer from deferred taxes | 780 | €2,014 | €2,014 | = | 0.0% |
| Income taxes | 67/77 | €12,976 | €15,055 | +€2,079 | +16.0% |
| Profit (loss) for the period | 9904 | €38,678 | €39,125 | +€447 | +1.2% |
| Transfer from tax-exempt reserves | 789 | €6,041 | €6,041 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,719 | €45,166 | +€447 | +1.0% |
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 8 October 2026 via checked.be.