Immo Madeleine: 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 Madeleine
Largest movements
- Tangible fixed assets -€145,371
down €145,371 (-3.4%), from €4.3m to €4.1m
of which Land and buildings: -€109,152
- Receivables within one year -€75,620
down €75,620 (-70.1%), from €107,878 to €32,258
of which Trade receivables: -€69,068
- Debts after one year -€400,833
down €400,833 (-27.5%), from €1.5m to €1.1m
- Reserves +€172,562
up €172,562 (+9.4%), from €1.8m to €2.0m
- Depreciation -€25,162
down €25,162 (-14.6%), from €171,945 to €146,783
- Gross operating margin +€13,830
up €13,830 (+3.1%), from €447,865 to €461,695
- Taxes +€8,870
up €8,870 (+18.2%), from €48,680 to €57,550
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,390,817 | €4,192,295 | -€198,523 | -4.5% |
| Fixed assets | 21/28 | €4,261,802 | €4,116,431 | -€145,371 | -3.4% |
| Tangible fixed assets | 22/27 | €4,261,802 | €4,116,431 | -€145,371 | -3.4% |
| Land and buildings | 22 | €3,835,539 | €3,726,387 | -€109,152 | -2.8% |
| Plant, machinery and equipment | 23 | - | €1,229 | +€1,229 | |
| Other tangible fixed assets | 26 | €426,264 | €388,815 | -€37,449 | -8.8% |
| Current assets | 29/58 | €129,015 | €75,863 | -€53,151 | -41.2% |
| Amounts receivable within one year | 40/41 | €107,878 | €32,258 | -€75,620 | -70.1% |
| Trade receivables | 40 | €94,543 | €25,475 | -€69,068 | -73.1% |
| Other amounts receivable | 41 | €13,336 | €6,783 | -€6,552 | -49.1% |
| Cash at bank and in hand | 54/58 | €18,848 | €43,179 | +€24,331 | +129% |
| Deferred charges and accrued income | 490/1 | €2,288 | €426 | -€1,862 | -81.4% |
| Total equity and liabilities | 10/49 | €4,390,817 | €4,192,295 | -€198,523 | -4.5% |
| Equity | 10/15 | €2,794,846 | €2,967,408 | +€172,562 | +6.2% |
| Contributions | 10/11 | €959,547 | €959,547 | = | 0.0% |
| Reserves | 13 | €1,835,299 | €2,007,861 | +€172,562 | +9.4% |
| Distributable reserves | 133 | €1,835,299 | €2,007,861 | +€172,562 | +9.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,595,971 | €1,224,887 | -€371,085 | -23.3% |
| Amounts payable after more than one year | 17 | €1,459,389 | €1,058,556 | -€400,833 | -27.5% |
| Financial debts | 170/4 | €1,459,389 | €1,058,556 | -€400,833 | -27.5% |
| Amounts payable within one year | 42/48 | €130,446 | €146,844 | +€16,398 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €113,333 | €113,333 | = | 0.0% |
| Trade debts | 44 | €2,062 | €18,311 | +€16,249 | +788% |
| Suppliers | 440/4 | €2,062 | €18,311 | +€16,249 | +788% |
| Other amounts payable | 47/48 | €15,051 | €15,200 | +€149 | +1.0% |
| Accrued charges and deferred income | 492/3 | €6,136 | €19,487 | +€13,351 | +218% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,945 | €146,783 | -€25,162 | -14.6% |
| Other operating charges | 640/8 | €17,908 | €19,041 | +€1,133 | +6.3% |
| Gross operating margin | 9900 | €447,865 | €461,695 | +€13,830 | +3.1% |
| Operating profit (loss) | 9901 | €258,012 | €295,871 | +€37,860 | +14.7% |
| Financial income | 75/76B | €264 | €112 | -€151 | -57.4% |
| Recurring financial income | 75 | €264 | €112 | -€151 | -57.4% |
| Financial charges | 65/66B | €48,556 | €50,872 | +€2,316 | +4.8% |
| Recurring financial charges | 65 | €48,556 | €50,872 | +€2,316 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €209,720 | €245,112 | +€35,392 | +16.9% |
| Income taxes | 67/77 | €48,680 | €57,550 | +€8,870 | +18.2% |
| Profit (loss) for the period | 9904 | €161,040 | €187,562 | +€26,522 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €161,040 | €187,562 | +€26,522 | +16.5% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.