IMMO MACHAJUAN: 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 MACHAJUAN
Largest movements
- Tangible fixed assets -€32,290
down €32,290 (-16.1%), from €201,174 to €168,884
of which Land and buildings: -€23,726
- Receivables after one year +€16,043
up €16,043 (+5.1%), from €315,511 to €331,554
- Cash -€5,701
down €5,701 (-83.8%), from €6,802 to €1,101
mainly Receivables after one year (-€16,043) and Debts after one year (-€12,232)
- Reserves -€15,512
down €15,512 (-4.6%), from €338,167 to €322,655
of which Distributable reserves: -€20,256
- Debts after one year -€12,232
down €12,232 (-100%), from €12,232 to €0
- Profit (loss) carried forward +€9,424
up €9,424 (+8.7%), from €108,596 to €118,020
- Provisions -€7,988
down €7,988 (-22.2%), from €35,944 to €27,957
- Depreciation -€1,430
down €1,430 (-4.2%), from €33,720 to €32,290
- Taxes +€363
up €363 (+11.8%), from €3,068 to €3,431
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 | €525,523 | €501,539 | -€23,985 | -4.6% |
| Fixed assets | 21/28 | €201,174 | €168,884 | -€32,290 | -16.1% |
| Tangible fixed assets | 22/27 | €201,174 | €168,884 | -€32,290 | -16.1% |
| Land and buildings | 22 | €165,444 | €141,719 | -€23,726 | -14.3% |
| Plant, machinery and equipment | 23 | €35,729 | €27,165 | -€8,564 | -24.0% |
| Current assets | 29/58 | €324,350 | €332,655 | +€8,305 | +2.6% |
| Amounts receivable after more than one year | 29 | €315,511 | €331,554 | +€16,043 | +5.1% |
| Other amounts receivable | 291 | €315,511 | €331,554 | +€16,043 | +5.1% |
| Amounts receivable within one year | 40/41 | €2,037 | €0 | -€2,037 | -100% |
| Trade receivables | 40 | €2,037 | €0 | -€2,037 | -100% |
| Cash at bank and in hand | 54/58 | €6,802 | €1,101 | -€5,701 | -83.8% |
| Total equity and liabilities | 10/49 | €525,523 | €501,539 | -€23,985 | -4.6% |
| Equity | 10/15 | €457,964 | €451,875 | -€6,089 | -1.3% |
| Contributions | 10/11 | €11,200 | €11,200 | = | 0.0% |
| Reserves | 13 | €338,167 | €322,655 | -€15,512 | -4.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €69,806 | €74,549 | +€4,744 | +6.8% |
| Distributable reserves | 133 | €266,502 | €246,246 | -€20,256 | -7.6% |
| Profit (loss) carried forward | 14 | €108,596 | €118,020 | +€9,424 | +8.7% |
| Provisions and deferred taxes | 16 | €35,944 | €27,957 | -€7,988 | -22.2% |
| Deferred taxes | 168 | €35,944 | €27,957 | -€7,988 | -22.2% |
| Amounts payable | 17/49 | €31,615 | €21,707 | -€9,908 | -31.3% |
| Amounts payable after more than one year | 17 | €12,232 | €0 | -€12,232 | -100% |
| Financial debts | 170/4 | €12,232 | €0 | -€12,232 | -100% |
| Amounts payable within one year | 42/48 | €19,383 | €21,707 | +€2,324 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €12,115 | €12,232 | +€117 | +1.0% |
| Taxes, remuneration and social security | 45 | €5,249 | €6,498 | +€1,249 | +23.8% |
| Taxes | 450/3 | €5,249 | €6,498 | +€1,249 | +23.8% |
| Other amounts payable | 47/48 | €2,019 | €2,977 | +€958 | +47.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,720 | €32,290 | -€1,430 | -4.2% |
| Other operating charges | 640/8 | €2,579 | €2,673 | +€95 | +3.7% |
| Gross operating margin | 9900 | €24,499 | €24,643 | +€144 | +0.6% |
| Operating profit (loss) | 9901 | -€11,800 | -€10,320 | +€1,479 | +12.5% |
| Financial charges | 65/66B | €443 | €325 | -€118 | -26.6% |
| Recurring financial charges | 65 | €443 | €325 | -€118 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | -€12,243 | -€10,646 | +€1,597 | +13.0% |
| Transfer from deferred taxes | 780 | €7,988 | €7,988 | = | 0.0% |
| Income taxes | 67/77 | €3,068 | €3,431 | +€363 | +11.8% |
| Profit (loss) for the period | 9904 | -€7,323 | -€6,089 | +€1,234 | +16.9% |
| Transfer from tax-exempt reserves | 789 | €15,512 | €15,512 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,190 | €9,424 | +€1,234 | +15.1% |
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 29 October 2026 via checked.be.