IMMO - M.Z.: 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.Z.
Largest movements
- Cash -€3,183
down €3,183 (-10.7%), from €29,863 to €26,680
mainly Deferred charges and accrued income (-€3,000) and Net result for the year (-€2,772)
- Deferred charges and accrued income +€3,000
up €3,000 (+50.0%), from €6,000 to €9,000
- Receivables within one year -€2,648
down €2,648 (-50.0%), from €5,301 to €2,653
- Profit (loss) carried forward -€2,772
down €2,772 (-2.5%), from -€109,059 to -€111,831
- Gross operating margin -€8,959
down €8,959 (-62.4%), from €14,354 to €5,395
- Depreciation -€3,015
down €3,015 (-64.4%), from €4,684 to €1,669
- Financial income +€194
up €194 (+62.2%), from €312 to €506
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
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €212,766 | €208,267 | -€4,500 | -2.1% |
| Fixed assets | 21/28 | €171,603 | €169,934 | -€1,669 | -1.0% |
| Tangible fixed assets | 22/27 | €171,603 | €169,934 | -€1,669 | -1.0% |
| Land and buildings | 22 | €166,597 | €166,597 | = | 0.0% |
| Plant, machinery and equipment | 23 | €5,006 | €3,337 | -€1,669 | -33.3% |
| Current assets | 29/58 | €41,164 | €38,333 | -€2,831 | -6.9% |
| Amounts receivable within one year | 40/41 | €5,301 | €2,653 | -€2,648 | -50.0% |
| Other amounts receivable | 41 | €5,301 | €2,653 | -€2,648 | -50.0% |
| Cash at bank and in hand | 54/58 | €29,863 | €26,680 | -€3,183 | -10.7% |
| Deferred charges and accrued income | 490/1 | €6,000 | €9,000 | +€3,000 | +50.0% |
| Total equity and liabilities | 10/49 | €212,766 | €208,267 | -€4,500 | -2.1% |
| Equity | 10/15 | €208,417 | €205,646 | -€2,772 | -1.3% |
| Contributions | 10/11 | €264,366 | €264,366 | = | 0.0% |
| Capital | 10 | €264,366 | €264,366 | = | 0.0% |
| Issued capital | 100 | €264,366 | €264,366 | = | 0.0% |
| Reserves | 13 | €53,111 | €53,111 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,471 | €17,471 | = | 0.0% |
| Distributable reserves | 133 | €35,640 | €35,640 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,059 | -€111,831 | -€2,772 | -2.5% |
| Amounts payable | 17/49 | €4,349 | €2,621 | -€1,728 | -39.7% |
| Amounts payable after more than one year | 17 | €2,621 | €2,621 | = | 0.0% |
| Other amounts payable | 178/9 | €2,621 | €2,621 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,728 | €0 | -€1,728 | -100% |
| Trade debts | 44 | €1,728 | €0 | -€1,728 | -100% |
| Suppliers | 440/4 | €1,728 | €0 | -€1,728 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,684 | €1,669 | -€3,015 | -64.4% |
| Other operating charges | 640/8 | €6,690 | €6,817 | +€126 | +1.9% |
| Gross operating margin | 9900 | €14,354 | €5,395 | -€8,959 | -62.4% |
| Operating profit (loss) | 9901 | €2,980 | -€3,090 | -€6,070 | |
| Financial income | 75/76B | €312 | €506 | +€194 | +62.2% |
| Recurring financial income | 75 | €312 | €506 | +€194 | +62.2% |
| Financial charges | 65/66B | €286 | €187 | -€99 | -34.6% |
| Recurring financial charges | 65 | €286 | €187 | -€99 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €3,006 | -€2,772 | -€5,778 | |
| Profit (loss) for the period | 9904 | €3,006 | -€2,772 | -€5,778 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,006 | -€2,772 | -€5,778 |
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.