IMMO MAJA: 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 MAJA
Largest movements
- Tangible fixed assets -€21,191
down €21,191 (-4.5%), from €466,427 to €445,236
of which Land and buildings: -€19,204
- Receivables within one year +€7,214
up €7,214 (+12.3%), from €58,729 to €65,943
of which Trade receivables: +€9,714
- Debts after one year -€62,093
down €62,093 (-19.5%), from €318,829 to €256,736
- Reserves +€37,261
up €37,261 (+67.1%), from €55,527 to €92,788
of which Distributable reserves: +€37,261
- Tax, wage and social debts -€19,185
down €19,185 (-79.7%), from €24,073 to €4,888
- Other debts +€15,438
up €15,438 (+95.4%), from €16,179 to €31,617
- Short-term financial debts +€8,838
up €8,838 (+202.2%), from €4,371 to €13,210
- Gross operating margin +€15,671
up €15,671 (+20.5%), from €76,374 to €92,046
- Other operating charges -€14,368
down €14,368 (-84.2%), from €17,054 to €2,686
- Taxes +€10,874
up €10,874 (+166.9%), from €6,515 to €17,389
- Financial charges -€4,136
down €4,136 (-23.4%), from €17,655 to €13,519
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 | €529,677 | €515,473 | -€14,203 | -2.7% |
| Fixed assets | 21/28 | €470,684 | €449,493 | -€21,191 | -4.5% |
| Tangible fixed assets | 22/27 | €466,427 | €445,236 | -€21,191 | -4.5% |
| Land and buildings | 22 | €460,926 | €441,722 | -€19,204 | -4.2% |
| Plant, machinery and equipment | 23 | €5,501 | €3,514 | -€1,987 | -36.1% |
| Financial fixed assets | 28 | €4,257 | €4,257 | = | 0.0% |
| Current assets | 29/58 | €58,993 | €65,981 | +€6,988 | +11.8% |
| Amounts receivable within one year | 40/41 | €58,729 | €65,943 | +€7,214 | +12.3% |
| Trade receivables | 40 | €55,244 | €64,958 | +€9,714 | +17.6% |
| Other amounts receivable | 41 | €3,485 | €985 | -€2,500 | -71.7% |
| Cash at bank and in hand | 54/58 | €49 | €38 | -€12 | -23.7% |
| Deferred charges and accrued income | 490/1 | €214 | - | -€214 | |
| Total equity and liabilities | 10/49 | €529,677 | €515,473 | -€14,203 | -2.7% |
| Equity | 10/15 | €100,527 | €137,788 | +€37,261 | +37.1% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €55,527 | €92,788 | +€37,261 | +67.1% |
| Tax-exempt reserves | 132 | €454 | €454 | = | 0.0% |
| Distributable reserves | 133 | €55,072 | €92,333 | +€37,261 | +67.7% |
| Amounts payable | 17/49 | €429,150 | €377,686 | -€51,464 | -12.0% |
| Amounts payable after more than one year | 17 | €318,829 | €256,736 | -€62,093 | -19.5% |
| Financial debts | 170/4 | €318,829 | €256,736 | -€62,093 | -19.5% |
| Amounts payable within one year | 42/48 | €105,346 | €111,808 | +€6,461 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €59,510 | €62,093 | +€2,583 | +4.3% |
| Financial debts | 43 | €4,371 | €13,210 | +€8,838 | +202.2% |
| Credit institutions | 430/8 | €4,371 | €13,210 | +€8,838 | +202.2% |
| Trade debts | 44 | €1,213 | - | -€1,213 | |
| Suppliers | 440/4 | €1,213 | - | -€1,213 | |
| Taxes, remuneration and social security | 45 | €24,073 | €4,888 | -€19,185 | -79.7% |
| Taxes | 450/3 | €24,073 | €4,888 | -€19,185 | -79.7% |
| Other amounts payable | 47/48 | €16,179 | €31,617 | +€15,438 | +95.4% |
| Accrued charges and deferred income | 492/3 | €4,975 | €9,142 | +€4,167 | +83.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,191 | €21,191 | = | 0.0% |
| Other operating charges | 640/8 | €17,054 | €2,686 | -€14,368 | -84.2% |
| Gross operating margin | 9900 | €76,374 | €92,046 | +€15,671 | +20.5% |
| Operating profit (loss) | 9901 | €38,129 | €68,168 | +€30,039 | +78.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -14.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -14.3% |
| Financial charges | 65/66B | €17,655 | €13,519 | -€4,136 | -23.4% |
| Recurring financial charges | 65 | €17,655 | €13,519 | -€4,136 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €20,475 | €54,650 | +€34,175 | +166.9% |
| Income taxes | 67/77 | €6,515 | €17,389 | +€10,874 | +166.9% |
| Profit (loss) for the period | 9904 | €13,960 | €37,261 | +€23,301 | +166.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,960 | €37,261 | +€23,301 | +166.9% |
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.