IMMO MAERTENS: what changed
Two fiscal 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 MAERTENS
Largest movements
- Current investments -€150,000
down €150,000 (-42.9%), from €350,000 to €200,000
- Cash +€138,906
up €138,906 (+67.3%), from €206,256 to €345,162
mainly Current investments (+€150,000) and Net result for the year (+€68,164)
- Trade debts -€10,528
down €10,528 (-74.3%), from €14,165 to €3,637
- Gross operating margin -€18,248
down €18,248 (-12.4%), from €147,112 to €128,864
- Financial income -€3,446
down €3,446 (-30.1%), from €11,439 to €7,994
- Taxes +€1,556
up €1,556 (+5.1%), from €30,266 to €31,822
- Depreciation -€1,474
down €1,474 (-14.5%), from €10,159 to €8,684
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.
Cash bridge derived
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 | €933,808 | €916,814 | -€16,994 | -1.8% |
| Fixed assets | 21/28 | €339,189 | €330,505 | -€8,684 | -2.6% |
| Tangible fixed assets | 22/27 | €339,189 | €330,505 | -€8,684 | -2.6% |
| Land and buildings | 22 | €320,325 | €314,300 | -€6,025 | -1.9% |
| Plant, machinery and equipment | 23 | €18,864 | €16,205 | -€2,659 | -14.1% |
| Current assets | 29/58 | €594,618 | €586,309 | -€8,310 | -1.4% |
| Amounts receivable within one year | 40/41 | €33,917 | €36,816 | +€2,900 | +8.5% |
| Trade receivables | 40 | €30,751 | €28,651 | -€2,100 | -6.8% |
| Other amounts receivable | 41 | €3,166 | €8,166 | +€5,000 | +157.9% |
| Current investments | 50/53 | €350,000 | €200,000 | -€150,000 | -42.9% |
| Cash at bank and in hand | 54/58 | €206,256 | €345,162 | +€138,906 | +67.3% |
| Deferred charges and accrued income | 490/1 | €4,445 | €4,331 | -€115 | -2.6% |
| Total equity and liabilities | 10/49 | €933,808 | €916,814 | -€16,994 | -1.8% |
| Equity | 10/15 | €720,795 | €728,337 | +€7,542 | +1.0% |
| Contributions | 10/11 | €188,534 | €188,534 | = | 0.0% |
| Capital | 10 | €188,534 | €188,534 | = | 0.0% |
| Issued capital | 100 | €188,534 | €188,534 | = | 0.0% |
| Reserves | 13 | €429,883 | €437,425 | +€7,542 | +1.8% |
| Non-distributable reserves | 130/1 | €18,853 | €18,853 | = | 0.0% |
| Legal reserve | 130 | €18,853 | €18,853 | = | 0.0% |
| Distributable reserves | 133 | €411,030 | €418,572 | +€7,542 | +1.8% |
| Profit (loss) carried forward | 14 | €102,378 | €102,378 | = | 0.0% |
| Provisions and deferred taxes | 16 | €168,975 | €168,975 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €168,975 | €168,975 | = | 0.0% |
| Environmental obligations | 163 | €168,975 | €168,975 | = | 0.0% |
| Amounts payable | 17/49 | €44,038 | €19,502 | -€24,536 | -55.7% |
| Amounts payable within one year | 42/48 | €35,087 | €16,458 | -€18,629 | -53.1% |
| Financial debts | 43 | €22 | €21 | -€0 | -1.4% |
| Credit institutions | 430/8 | €22 | €21 | -€0 | -1.4% |
| Trade debts | 44 | €14,165 | €3,637 | -€10,528 | -74.3% |
| Suppliers | 440/4 | €14,165 | €3,637 | -€10,528 | -74.3% |
| Taxes, remuneration and social security | 45 | €17,526 | €9,424 | -€8,101 | -46.2% |
| Taxes | 450/3 | €17,526 | €9,424 | -€8,101 | -46.2% |
| Other amounts payable | 47/48 | €3,375 | €3,375 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €8,951 | €3,044 | -€5,907 | -66.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,159 | €8,684 | -€1,474 | -14.5% |
| Other operating charges | 640/8 | €27,048 | €27,891 | +€844 | +3.1% |
| Gross operating margin | 9900 | €147,112 | €128,864 | -€18,248 | -12.4% |
| Operating profit (loss) | 9901 | €109,906 | €92,288 | -€17,617 | -16.0% |
| Financial income | 75/76B | €11,439 | €7,994 | -€3,446 | -30.1% |
| Recurring financial income | 75 | €11,439 | €7,994 | -€3,446 | -30.1% |
| Financial charges | 65/66B | €294 | €295 | +€1 | +0.4% |
| Recurring financial charges | 65 | €294 | €295 | +€1 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €121,051 | €99,987 | -€21,064 | -17.4% |
| Income taxes | 67/77 | €30,266 | €31,822 | +€1,556 | +5.1% |
| Profit (loss) for the period | 9904 | €90,785 | €68,164 | -€22,620 | -24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €90,785 | €68,164 | -€22,620 | -24.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.