IMMO MACHARIS: 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 MACHARIS
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€334,670
2024 · €319,391+€15,279
Equity
€3.7m
2024 · €3.9m-€204,106
Cash
€158,386
2024 · €220,876-€62,490
Balance sheet total
€8.7m
2024 · €9.4m-€744,844
Largest movements
Assets
- Tangible fixed assets -€686,779
down €686,779 (-7.5%), from €9.1m to €8.4m
of which Land and buildings: -€832,055
Equity and liabilities
- Debts after one year -€389,668
down €389,668 (-7.9%), from €4.9m to €4.5m
- Other debts -€160,897
down €160,897 (-100%), from €160,897 to €0
- Reserves -€149,065
down €149,065 (-4.2%), from €3.5m to €3.4m
of which Distributable reserves: -€143,561
Income statement
- Gross operating margin +€23,697
up €23,697 (+2.1%), from €1.1m to €1.2m
- Financial charges -€22,290
down €22,290 (-12.7%), from €176,177 to €153,887
- Other operating charges +€18,184
up €18,184 (+21.2%), from €85,961 to €104,145
- Depreciation +€12,332
up €12,332 (+2.8%), from €447,252 to €459,584
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
€319,391
Gross operating margin
+€23,697
Depreciation
-€12,332
Other operating charges
-€18,184
Financial income
+€61
Financial charges
+€22,290
Taxes
-€252
Result 2025
€334,670
raises the resultlowers the result
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
+€628,257
Investment
+€227,195
Financing
-€917,942
Cash 2024
€220,876
From operations (derived)
+€628,257
Net result for the year
+€334,670
Depreciation
+€459,584
Receivables within one year
-€5,017
Smaller working-capital items
+€650
Trade debts
+€47,866
Tax, wage and social debts
-€48,599
Other debts
-€160,897
Investment (derived)
+€227,195
Investment in fixed assets (net)
+€227,195
Financing
-€917,942
Debts after one year
-€389,668
Current portion of long-term debt
+€10,502
Contributions, distributions and other
-€538,776
Cash 2025
€158,386
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,449,264 | €8,704,420 | -€744,844 | -7.9% |
| Fixed assets | 21/28 | €9,120,685 | €8,433,906 | -€686,779 | -7.5% |
| Tangible fixed assets | 22/27 | €9,120,685 | €8,433,906 | -€686,779 | -7.5% |
| Land and buildings | 22 | €8,283,512 | €7,451,457 | -€832,055 | -10.0% |
| Plant, machinery and equipment | 23 | €837,173 | €934,399 | +€97,226 | +11.6% |
| Furniture and vehicles | 24 | - | €48,050 | +€48,050 | |
| Current assets | 29/58 | €328,579 | €270,514 | -€58,066 | -17.7% |
| Amounts receivable within one year | 40/41 | €103,516 | €108,533 | +€5,017 | +4.8% |
| Trade receivables | 40 | €102,831 | €107,996 | +€5,165 | +5.0% |
| Other amounts receivable | 41 | €685 | €537 | -€147 | -21.5% |
| Cash at bank and in hand | 54/58 | €220,876 | €158,386 | -€62,490 | -28.3% |
| Deferred charges and accrued income | 490/1 | €4,188 | €3,595 | -€593 | -14.2% |
| Total equity and liabilities | 10/49 | €9,449,264 | €8,704,420 | -€744,844 | -7.9% |
| Equity | 10/15 | €3,915,487 | €3,711,382 | -€204,106 | -5.2% |
| Contributions | 10/11 | €400,000 | €344,959 | -€55,041 | -13.8% |
| Capital | 10 | €400,000 | €344,959 | -€55,041 | -13.8% |
| Issued capital | 100 | €400,000 | €344,959 | -€55,041 | -13.8% |
| Reserves | 13 | €3,515,487 | €3,366,422 | -€149,065 | -4.2% |
| Non-distributable reserves | 130/1 | €40,000 | €34,496 | -€5,504 | -13.8% |
| Legal reserve | 130 | €40,000 | €34,496 | -€5,504 | -13.8% |
| Distributable reserves | 133 | €3,475,487 | €3,331,926 | -€143,561 | -4.1% |
| Amounts payable | 17/49 | €5,533,777 | €4,993,038 | -€540,738 | -9.8% |
| Amounts payable after more than one year | 17 | €4,907,694 | €4,518,026 | -€389,668 | -7.9% |
| Financial debts | 170/4 | €4,907,694 | €4,518,026 | -€389,668 | -7.9% |
| Amounts payable within one year | 42/48 | €622,393 | €471,265 | -€151,128 | -24.3% |
| Current portion of amounts payable after more than one year | 42 | €310,062 | €320,565 | +€10,502 | +3.4% |
| Trade debts | 44 | €42,187 | €90,053 | +€47,866 | +113% |
| Suppliers | 440/4 | €42,187 | €90,053 | +€47,866 | +113% |
| Advances received on contracts in progress | 46 | €3,874 | €3,874 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €105,373 | €56,774 | -€48,599 | -46.1% |
| Taxes | 450/3 | €43,854 | €4,563 | -€39,291 | -89.6% |
| Remuneration and social security | 454/9 | €61,519 | €52,212 | -€9,308 | -15.1% |
| Other amounts payable | 47/48 | €160,897 | €0 | -€160,897 | -100% |
| Accrued charges and deferred income | 492/3 | €3,690 | €3,747 | +€57 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €447,252 | €459,584 | +€12,332 | +2.8% |
| Other operating charges | 640/8 | €85,961 | €104,145 | +€18,184 | +21.2% |
| Gross operating margin | 9900 | €1,132,634 | €1,156,331 | +€23,697 | +2.1% |
| Operating profit (loss) | 9901 | €599,421 | €592,603 | -€6,819 | -1.1% |
| Financial income | 75/76B | - | €61 | +€61 | |
| Recurring financial income | 75 | - | €61 | +€61 | |
| Financial charges | 65/66B | €176,177 | €153,887 | -€22,290 | -12.7% |
| Recurring financial charges | 65 | €176,177 | €153,887 | -€22,290 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €423,245 | €438,776 | +€15,531 | +3.7% |
| Income taxes | 67/77 | €103,854 | €104,106 | +€252 | +0.2% |
| Profit (loss) for the period | 9904 | €319,391 | €334,670 | +€15,279 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €319,391 | €334,670 | +€15,279 | +4.8% |
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 1 November 2026 via checked.be.