IMMO M.C.: 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.
IMMO M.C.
Largest movements
- Tangible fixed assets -€2.0m
down €2.0m (-23.6%), from €8.5m to €6.5m
of which Land and buildings: -€2.0m
- Current investments -€498,939
down €498,939 (-44.3%), from €1.1m to €626,481
- Contributions -€2.2m
down €2.2m (-23.7%), from €9.4m to €7.2m
- Profit (loss) carried forward -€177,851
down €177,851 (-255.3%), from -€69,673 to -€247,524
- Depreciation +€102,988
up €102,988 (+27.1%), from €380,309 to €483,297
- Financial charges +€53,664
up €53,664, from -€52,915 to €749
- Financial income -€34,613
down €34,613 (-85.9%), from €40,272 to €5,659
- Gross operating margin +€25,940
up €25,940 (+8.1%), from €321,723 to €347,662
- Other operating charges -€12,529
down €12,529 (-16.4%), from €76,171 to €63,643
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.
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,867,477 | €7,331,470 | -€2.5m | -25.7% |
| Fixed assets | 21/28 | €8,535,540 | €6,517,858 | -€2.0m | -23.6% |
| Tangible fixed assets | 22/27 | €8,535,540 | €6,517,858 | -€2.0m | -23.6% |
| Land and buildings | 22 | €8,495,661 | €6,488,928 | -€2.0m | -23.6% |
| Plant, machinery and equipment | 23 | €9,375 | €2,435 | -€6,940 | -74.0% |
| Furniture and vehicles | 24 | €3,989 | €2,077 | -€1,912 | -47.9% |
| Other tangible fixed assets | 26 | €26,515 | €24,418 | -€2,097 | -7.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,331,938 | €813,612 | -€518,326 | -38.9% |
| Amounts receivable within one year | 40/41 | €40,216 | €61,701 | +€21,485 | +53.4% |
| Trade receivables | 40 | €6,923 | €26,933 | +€20,011 | +289.1% |
| Other amounts receivable | 41 | €33,294 | €34,768 | +€1,474 | +4.4% |
| Current investments | 50/53 | €1,125,420 | €626,481 | -€498,939 | -44.3% |
| Cash at bank and in hand | 54/58 | €150,730 | €118,719 | -€32,011 | -21.2% |
| Deferred charges and accrued income | 490/1 | €15,571 | €6,711 | -€8,860 | -56.9% |
| Total equity and liabilities | 10/49 | €9,867,477 | €7,331,470 | -€2.5m | -25.7% |
| Equity | 10/15 | €9,771,940 | €7,260,685 | -€2.5m | -25.7% |
| Contributions | 10/11 | €9,448,000 | €7,208,324 | -€2.2m | -23.7% |
| Capital | 10 | €9,448,000 | €7,208,324 | -€2.2m | -23.7% |
| Issued capital | 100 | €9,448,000 | €7,208,324 | -€2.2m | -23.7% |
| Reserves | 13 | €393,613 | €299,886 | -€93,727 | -23.8% |
| Non-distributable reserves | 130/1 | €53,110 | €40,200 | -€12,910 | -24.3% |
| Legal reserve | 130 | €52,690 | €40,200 | -€12,490 | -23.7% |
| Own shares acquired | 1312 | €420 | €0 | -€420 | -100.0% |
| Distributable reserves | 133 | €340,503 | €259,686 | -€80,817 | -23.7% |
| Profit (loss) carried forward | 14 | -€69,673 | -€247,524 | -€177,851 | -255.3% |
| Amounts payable | 17/49 | €95,537 | €70,784 | -€24,753 | -25.9% |
| Amounts payable within one year | 42/48 | €57,532 | €70,784 | +€13,252 | +23.0% |
| Current portion of amounts payable after more than one year | 42 | €3,818 | €2,918 | -€900 | -23.6% |
| Trade debts | 44 | €4,591 | €58,544 | +€53,952 | +1175.1% |
| Suppliers | 440/4 | €4,591 | €58,544 | +€53,952 | +1175.1% |
| Taxes, remuneration and social security | 45 | €49,123 | €9,323 | -€39,800 | -81.0% |
| Taxes | 450/3 | €49,123 | €9,323 | -€39,800 | -81.0% |
| Accrued charges and deferred income | 492/3 | €38,005 | €0 | -€38,005 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €380,309 | €483,297 | +€102,988 | +27.1% |
| Other operating charges | 640/8 | €76,171 | €63,643 | -€12,529 | -16.4% |
| Gross operating margin | 9900 | €321,723 | €347,662 | +€25,940 | +8.1% |
| Operating profit (loss) | 9901 | -€134,757 | -€199,277 | -€64,520 | -47.9% |
| Financial income | 75/76B | €40,272 | €5,659 | -€34,613 | -85.9% |
| Recurring financial income | 75 | €40,272 | €5,659 | -€34,613 | -85.9% |
| Financial charges | 65/66B | -€52,915 | €749 | +€53,664 | |
| Recurring financial charges | 65 | -€52,915 | €749 | +€53,664 | |
| Profit (loss) for the period before taxes | 9903 | -€41,571 | -€194,367 | -€152,797 | -367.6% |
| Profit (loss) for the period | 9904 | -€41,571 | -€194,367 | -€152,797 | -367.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,571 | -€194,367 | -€152,797 | -367.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.