IMMO M.C.H.: 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 M.C.H.
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€169,043
2024 · €709,031-€539,987
Equity
€1.9m
2024 · €1.7m+€169,043
Cash
€4,926
2024 · €7,167-€2,241
Balance sheet total
€2.4m
2024 · €2.2m+€220,611
Largest movements
Assets
- Receivables after one year +€2.4m
new in 2025: €2.4m
- Receivables within one year -€2.2m
no longer reported in 2025 (was €2.2m)
Equity and liabilities
- Reserves +€170,864
up €170,864 (+10.7%), from €1.6m to €1.8m
of which Tax-exempt reserves: +€170,864
- Provisions +€56,955
up €56,955 (+11.2%), from €507,775 to €564,730
Income statement
- Gross operating margin -€719,202
down €719,202 (-76.0%), from €946,933 to €227,731
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
€709,031
Gross operating margin
-€719,202
Other operating charges
-€611
Financial charges
-€284
Deferred taxes and other
+€180,110
Result 2025
€169,043
lowers the resultnot broken down further in the accounts
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.
From operations
-€18,389
Investment
+€16,148
Financing
€0
Cash 2024
€7,167
From operations (derived)
-€18,389
Net result for the year
+€169,043
Receivables after one year
-€2.4m
Receivables within one year
+€2.2m
Provisions
+€56,955
Smaller working-capital items
-€5,387
Investment (derived)
+€16,148
Investment in fixed assets (net)
+€16,148
Cash 2025
€4,926
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,196,389 | €2,417,000 | +€220,611 | +10.0% |
| Fixed assets | 21/28 | €24,222 | €8,074 | -€16,148 | -66.7% |
| Tangible fixed assets | 22/27 | €24,222 | €8,074 | -€16,148 | -66.7% |
| Land and buildings | 22 | €24,222 | €8,074 | -€16,148 | -66.7% |
| Current assets | 29/58 | €2,172,167 | €2,408,926 | +€236,759 | +10.9% |
| Amounts receivable after more than one year | 29 | - | €2,404,000 | +€2.4m | |
| Other amounts receivable | 291 | - | €2,404,000 | +€2.4m | |
| Amounts receivable within one year | 40/41 | €2,165,000 | - | -€2.2m | |
| Other amounts receivable | 41 | €2,165,000 | - | -€2.2m | |
| Cash at bank and in hand | 54/58 | €7,167 | €4,926 | -€2,241 | -31.3% |
| Total equity and liabilities | 10/49 | €2,196,389 | €2,417,000 | +€220,611 | +10.0% |
| Equity | 10/15 | €1,683,226 | €1,852,270 | +€169,043 | +10.0% |
| Contributions | 10/11 | €123,996 | €123,996 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Contributions outside capital | 11 | €50 | €50 | = | 0.0% |
| Share premium | 1100/10 | €50 | €50 | = | 0.0% |
| Reserves | 13 | €1,599,310 | €1,770,174 | +€170,864 | +10.7% |
| Non-distributable reserves | 130/1 | €13,658 | €13,658 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,264 | €1,264 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,523,326 | €1,694,190 | +€170,864 | +11.2% |
| Distributable reserves | 133 | €62,325 | €62,325 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,080 | -€41,901 | -€1,821 | -4.5% |
| Provisions and deferred taxes | 16 | €507,775 | €564,730 | +€56,955 | +11.2% |
| Deferred taxes | 168 | €507,775 | €564,730 | +€56,955 | +11.2% |
| Amounts payable | 17/49 | €5,387 | - | -€5,387 | |
| Amounts payable within one year | 42/48 | €5,387 | - | -€5,387 | |
| Trade debts | 44 | €387 | - | -€387 | |
| Suppliers | 440/4 | €387 | - | -€387 | |
| Advances received on contracts in progress | 46 | €5,000 | - | -€5,000 | |
| Non-recurring operating income | 76A | €948,258 | €227,819 | -€720,439 | -76.0% |
| Other operating charges | 640/8 | €387 | €998 | +€611 | +158% |
| Gross operating margin | 9900 | €946,933 | €227,731 | -€719,202 | -76.0% |
| Operating profit (loss) | 9901 | €946,546 | €226,732 | -€719,814 | -76.0% |
| Financial charges | 65/66B | €451 | €734 | +€284 | +62.9% |
| Recurring financial charges | 65 | €451 | €734 | +€284 | +62.9% |
| Profit (loss) for the period before taxes | 9903 | €946,095 | €225,998 | -€720,097 | -76.1% |
| Transfer to deferred taxes | 680 | €237,065 | €56,955 | -€180,110 | -76.0% |
| Profit (loss) for the period | 9904 | €709,031 | €169,043 | -€539,987 | -76.2% |
| Transfer to tax-exempt reserves | 689 | €711,194 | €170,864 | -€540,330 | -76.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,163 | -€1,821 | +€342 | +15.8% |
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.