Immo.mak International: what changed
What changed
Immo.mak International
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€46,794
2024 · €78,469-€31,675
Equity
€20,037
2024 · €18,243+€1,794
Cash
€40,335
2024 · €41,273-€938
Balance sheet total
€663,989
2024 · €678,080-€14,091
Largest movements
Assets
- Receivables within one year -€13,178
down €13,178 (-22.0%), from €59,944 to €46,766
of which Trade receivables: -€16,718
Equity and liabilities
- Debts after one year -€27,011
down €27,011 (-4.8%), from €559,774 to €532,763
- Trade debts -€22,620
down €22,620 (-86.5%), from €26,137 to €3,517
- Other debts +€21,108
up €21,108 (+45.2%), from €46,709 to €67,817
Income statement
- Other operating charges +€12,238
up €12,238 (+686%), from €1,783 to €14,021
- Taxes +€8,837
new in 2025: €8,837
- Gross operating margin -€8,541
down €8,541 (-7.0%), from €121,596 to €113,055
- Depreciation +€2,826
up €2,826 (+9.1%), from €31,057 to €33,883
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€78,469
Gross operating margin
-€8,541
Depreciation
-€2,826
Other operating charges
-€12,238
Financial income
+€322
Financial charges
+€445
Taxes
-€8,837
Result 2025
€46,794
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€98,408
Investment
-€33,908
Financing
-€65,438
Cash 2024
€41,273
From operations (derived)
+€98,408
Net result for the year
+€46,794
Depreciation
+€33,883
Receivables within one year
+€13,178
Trade debts
-€22,620
Tax, wage and social debts
+€6,065
Other debts
+€21,108
Investment (derived)
-€33,908
Investment in fixed assets (net)
-€33,908
Financing
-€65,438
Debts after one year
-€27,011
Current portion of long-term debt
+€532
Short-term financial debts
+€6,041
Contributions, distributions and other
-€45,000
Cash 2025
€40,335
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €678,080 | €663,989 | -€14,091 | -2.1% |
| Fixed assets | 21/28 | €576,863 | €576,888 | +€25 | 0.0% |
| Tangible fixed assets | 22/27 | €576,683 | €576,708 | +€25 | 0.0% |
| Land and buildings | 22 | €550,415 | €545,957 | -€4,458 | -0.8% |
| Furniture and vehicles | 24 | €26,268 | €30,751 | +€4,483 | +17.1% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €101,217 | €87,101 | -€14,116 | -13.9% |
| Amounts receivable within one year | 40/41 | €59,944 | €46,766 | -€13,178 | -22.0% |
| Trade receivables | 40 | €24,272 | €7,554 | -€16,718 | -68.9% |
| Other amounts receivable | 41 | €35,672 | €39,212 | +€3,540 | +9.9% |
| Cash at bank and in hand | 54/58 | €41,273 | €40,335 | -€938 | -2.3% |
| Total equity and liabilities | 10/49 | €678,080 | €663,989 | -€14,091 | -2.1% |
| Equity | 10/15 | €18,243 | €20,037 | +€1,794 | +9.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,757 | €37 | +€1,794 | |
| Amounts payable | 17/49 | €659,837 | €643,952 | -€15,885 | -2.4% |
| Amounts payable after more than one year | 17 | €559,774 | €532,763 | -€27,011 | -4.8% |
| Financial debts | 170/4 | €559,774 | €532,763 | -€27,011 | -4.8% |
| Amounts payable within one year | 42/48 | €100,063 | €111,189 | +€11,126 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €26,480 | €27,012 | +€532 | +2.0% |
| Financial debts | 43 | - | €6,041 | +€6,041 | |
| Credit institutions | 430/8 | - | €6,041 | +€6,041 | |
| Trade debts | 44 | €26,137 | €3,517 | -€22,620 | -86.5% |
| Suppliers | 440/4 | €26,137 | €3,517 | -€22,620 | -86.5% |
| Taxes, remuneration and social security | 45 | €737 | €6,802 | +€6,065 | +823% |
| Taxes | 450/3 | €737 | €6,802 | +€6,065 | +823% |
| Other amounts payable | 47/48 | €46,709 | €67,817 | +€21,108 | +45.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,057 | €33,883 | +€2,826 | +9.1% |
| Other operating charges | 640/8 | €1,783 | €14,021 | +€12,238 | +686% |
| Gross operating margin | 9900 | €121,596 | €113,055 | -€8,541 | -7.0% |
| Operating profit (loss) | 9901 | €88,756 | €65,151 | -€23,605 | -26.6% |
| Financial income | 75/76B | €1,911 | €2,233 | +€322 | +16.8% |
| Recurring financial income | 75 | €1,911 | €2,233 | +€322 | +16.8% |
| Financial charges | 65/66B | €12,198 | €11,753 | -€445 | -3.6% |
| Recurring financial charges | 65 | €12,198 | €11,753 | -€445 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €78,469 | €55,631 | -€22,838 | -29.1% |
| Income taxes | 67/77 | - | €8,837 | +€8,837 | |
| Profit (loss) for the period | 9904 | €78,469 | €46,794 | -€31,675 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €78,469 | €46,794 | -€31,675 | -40.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.