IMMO MAES: 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 MAES
Largest movements
- Tangible fixed assets +€13,648
up €13,648 (+2.9%), from €475,487 to €489,134
of which Land and buildings: +€14,124
- Receivables within one year +€13,151
up €13,151 (+60.2%), from €21,851 to €35,002
- Profit (loss) carried forward -€91,968
down €91,968, from €82,425 to -€9,543
- Reserves +€87,643
up €87,643 (+62.2%), from €140,906 to €228,548
of which Distributable reserves: +€82,425
- Other debts +€51,058
up €51,058 (+3228.4%), from €1,582 to €52,640
- Provisions -€20,820
down €20,820 (-32.5%), from €63,971 to €43,151
- Depreciation +€5,812
up €5,812 (+19.6%), from €29,692 to €35,504
- Gross operating margin -€3,799
down €3,799 (-18.4%), from €20,694 to €16,895
- Taxes +€2,837
up €2,837, from -€2,757 to €80
- Financial charges +€1,786
up €1,786 (+73.9%), from €2,418 to €4,204
- Other operating charges +€838
up €838 (+48.5%), from €1,727 to €2,565
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 | €500,258 | €529,454 | +€29,197 | +5.8% |
| Fixed assets | 21/28 | €475,737 | €489,384 | +€13,648 | +2.9% |
| Tangible fixed assets | 22/27 | €475,487 | €489,134 | +€13,648 | +2.9% |
| Land and buildings | 22 | €473,765 | €487,888 | +€14,124 | +3.0% |
| Furniture and vehicles | 24 | €1,722 | €1,246 | -€476 | -27.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €24,521 | €40,070 | +€15,549 | +63.4% |
| Amounts receivable within one year | 40/41 | €21,851 | €35,002 | +€13,151 | +60.2% |
| Trade receivables | 40 | €21,851 | €35,002 | +€13,151 | +60.2% |
| Cash at bank and in hand | 54/58 | €2,669 | €5,068 | +€2,398 | +89.8% |
| Total equity and liabilities | 10/49 | €500,258 | €529,454 | +€29,197 | +5.8% |
| Equity | 10/15 | €390,032 | €385,707 | -€4,325 | -1.1% |
| Contributions | 10/11 | €166,701 | €166,701 | = | 0.0% |
| Capital | 10 | €166,701 | €166,701 | = | 0.0% |
| Issued capital | 100 | €166,701 | €166,701 | = | 0.0% |
| Reserves | 13 | €140,906 | €228,548 | +€87,643 | +62.2% |
| Non-distributable reserves | 130/1 | €16,670 | €16,670 | = | 0.0% |
| Legal reserve | 130 | €16,670 | €16,670 | = | 0.0% |
| Tax-exempt reserves | 132 | €124,235 | €129,453 | +€5,218 | +4.2% |
| Distributable reserves | 133 | - | €82,425 | +€82,425 | |
| Profit (loss) carried forward | 14 | €82,425 | -€9,543 | -€91,968 | |
| Provisions and deferred taxes | 16 | €63,971 | €43,151 | -€20,820 | -32.5% |
| Deferred taxes | 168 | €63,971 | €43,151 | -€20,820 | -32.5% |
| Amounts payable | 17/49 | €46,254 | €100,597 | +€54,342 | +117.5% |
| Amounts payable within one year | 42/48 | €44,242 | €97,972 | +€53,729 | +121.4% |
| Current portion of amounts payable after more than one year | 42 | €41,296 | €40,000 | -€1,296 | -3.1% |
| Trade debts | 44 | €38 | €4,090 | +€4,052 | +10610.1% |
| Suppliers | 440/4 | €38 | €4,090 | +€4,052 | +10610.1% |
| Taxes, remuneration and social security | 45 | €1,326 | €1,242 | -€84 | -6.4% |
| Taxes | 450/3 | €1,326 | €1,242 | -€84 | -6.4% |
| Other amounts payable | 47/48 | €1,582 | €52,640 | +€51,058 | +3228.4% |
| Accrued charges and deferred income | 492/3 | €2,012 | €2,625 | +€613 | +30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,692 | €35,504 | +€5,812 | +19.6% |
| Other operating charges | 640/8 | €1,727 | €2,565 | +€838 | +48.5% |
| Gross operating margin | 9900 | €20,694 | €16,895 | -€3,799 | -18.4% |
| Operating profit (loss) | 9901 | -€10,724 | -€21,173 | -€10,449 | -97.4% |
| Financial income | 75/76B | €231 | €311 | +€80 | +34.7% |
| Recurring financial income | 75 | €231 | €311 | +€80 | +34.7% |
| Financial charges | 65/66B | €2,418 | €4,204 | +€1,786 | +73.9% |
| Recurring financial charges | 65 | €2,418 | €4,204 | +€1,786 | +73.9% |
| Profit (loss) for the period before taxes | 9903 | -€12,911 | -€25,066 | -€12,155 | -94.1% |
| Transfer from deferred taxes | 780 | €5,303 | €3,901 | -€1,403 | -26.4% |
| Income taxes | 67/77 | -€2,757 | €80 | +€2,837 | |
| Profit (loss) for the period | 9904 | -€4,851 | -€21,245 | -€16,394 | -338.0% |
| Transfer from tax-exempt reserves | 789 | €10,299 | €11,702 | +€1,403 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,449 | -€9,543 | -€14,991 |
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 5 October 2026 via checked.be.