IMMO M.N.: 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 M.N.
Largest movements
- Tangible fixed assets -€47,259
down €47,259 (-6.0%), from €786,852 to €739,593
of which Land and buildings: -€47,259
- Receivables within one year +€40,000
up €40,000 (+3.2%), from €1.3m to €1.3m
- Other debts +€55,279
up €55,279 (+307%), from €18,000 to €73,279
- Reserves -€31,862
down €31,862 (-3.3%), from €962,068 to €930,205
of which Tax-exempt reserves: -€31,862
- Profit (loss) carried forward -€29,740
down €29,740 (-47.0%), from €63,274 to €33,534
- Trade debts +€22,720
up €22,720 (+817%), from €2,780 to €25,500
- Debts after one year -€22,379
down €22,379 (-3.6%), from €614,450 to €592,071
- Gross operating margin -€74,065
down €74,065 (-71.7%), from €103,289 to €29,225
- Depreciation +€8,666
up €8,666 (+22.5%), from €38,594 to €47,259
- Taxes -€3,652
down €3,652, from €2,800 to -€852
- Other operating charges -€2,537
down €2,537 (-81.0%), from €3,133 to €596
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
A cash bridge needs two consecutive financial 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 | €2,059,030 | €2,039,627 | -€19,403 | -0.9% |
| Fixed assets | 21/28 | €786,852 | €739,593 | -€47,259 | -6.0% |
| Tangible fixed assets | 22/27 | €786,852 | €739,593 | -€47,259 | -6.0% |
| Land and buildings | 22 | €786,852 | €739,593 | -€47,259 | -6.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €1,272,178 | €1,300,034 | +€27,856 | +2.2% |
| Amounts receivable within one year | 40/41 | €1,259,965 | €1,299,965 | +€40,000 | +3.2% |
| Other amounts receivable | 41 | €1,259,965 | €1,299,965 | +€40,000 | +3.2% |
| Cash at bank and in hand | 54/58 | €12,213 | €69 | -€12,144 | -99.4% |
| Total equity and liabilities | 10/49 | €2,059,030 | €2,039,627 | -€19,403 | -0.9% |
| Equity | 10/15 | €1,087,315 | €1,025,712 | -€61,602 | -5.7% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €962,068 | €930,205 | -€31,862 | -3.3% |
| Non-distributable reserves | 130/1 | €6,198 | €6,198 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,198 | €6,198 | = | 0.0% |
| Tax-exempt reserves | 132 | €955,870 | €924,007 | -€31,862 | -3.3% |
| Profit (loss) carried forward | 14 | €63,274 | €33,534 | -€29,740 | -47.0% |
| Provisions and deferred taxes | 16 | €318,623 | €308,002 | -€10,621 | -3.3% |
| Provisions for liabilities and charges | 160/5 | €318,623 | €308,002 | -€10,621 | -3.3% |
| Taxes | 161 | €318,623 | €308,002 | -€10,621 | -3.3% |
| Amounts payable | 17/49 | €653,092 | €705,912 | +€52,820 | +8.1% |
| Amounts payable after more than one year | 17 | €614,450 | €592,071 | -€22,379 | -3.6% |
| Financial debts | 170/4 | €614,450 | €592,071 | -€22,379 | -3.6% |
| Amounts payable within one year | 42/48 | €38,642 | €113,841 | +€75,198 | +195% |
| Current portion of amounts payable after more than one year | 42 | €15,062 | €15,062 | -€1 | 0.0% |
| Trade debts | 44 | €2,780 | €25,500 | +€22,720 | +817% |
| Suppliers | 440/4 | €2,780 | €25,500 | +€22,720 | +817% |
| Taxes, remuneration and social security | 45 | €2,800 | - | -€2,800 | |
| Taxes | 450/3 | €2,800 | - | -€2,800 | |
| Other amounts payable | 47/48 | €18,000 | €73,279 | +€55,279 | +307% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,594 | €47,259 | +€8,666 | +22.5% |
| Other operating charges | 640/8 | €3,133 | €596 | -€2,537 | -81.0% |
| Gross operating margin | 9900 | €103,289 | €29,225 | -€74,065 | -71.7% |
| Operating profit (loss) | 9901 | €61,562 | -€18,631 | -€80,194 | |
| Financial charges | 65/66B | €54,044 | €54,444 | +€400 | +0.7% |
| Recurring financial charges | 65 | €54,044 | €54,444 | +€400 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €7,519 | -€73,075 | -€80,594 | |
| Transfer from deferred taxes | 780 | - | €10,621 | +€10,621 | |
| Income taxes | 67/77 | €2,800 | -€852 | -€3,652 | |
| Profit (loss) for the period | 9904 | €4,719 | -€61,602 | -€66,321 | |
| Transfer from tax-exempt reserves | 789 | - | €31,862 | +€31,862 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,719 | -€29,740 | -€34,459 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.