IMMO - MALIST: 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 - MALIST
Largest movements
- Cash -€196,016
down €196,016 (-40.5%), from €483,830 to €287,815
mainly Investment in fixed assets (net) (-€278,232) and Debts after one year (-€74,382)
- Tangible fixed assets +€154,879
up €154,879 (+8.0%), from €1.9m to €2.1m
of which Land and buildings: +€101,859
- Receivables within one year +€33,991
up €33,991 (+216.3%), from €15,717 to €49,708
- Profit (loss) carried forward +€131,064
up €131,064 (+45.9%), from €285,468 to €416,532
- Debts after one year -€74,382
down €74,382 (-10.4%), from €717,364 to €642,982
of which Financial debts: -€75,000
- Tax, wage and social debts -€44,859
down €44,859 (-76.8%), from €58,436 to €13,576
- Gross operating margin -€98,070
down €98,070 (-22.4%), from €438,254 to €340,184
- Taxes -€46,599
down €46,599 (-60.4%), from €77,116 to €30,517
- Other operating charges +€20,767
up €20,767 (+186.8%), from €11,119 to €31,886
- Depreciation +€8,933
up €8,933 (+7.8%), from €114,420 to €123,353
- Financial charges +€5,418
up €5,418 (+14.1%), from €38,415 to €43,834
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 | €2,437,477 | €2,430,332 | -€7,145 | -0.3% |
| Fixed assets | 21/28 | €1,937,930 | €2,092,809 | +€154,879 | +8.0% |
| Tangible fixed assets | 22/27 | €1,937,847 | €2,092,726 | +€154,879 | +8.0% |
| Land and buildings | 22 | €1,934,212 | €2,036,071 | +€101,859 | +5.3% |
| Plant, machinery and equipment | 23 | €935 | €1,284 | +€349 | +37.3% |
| Furniture and vehicles | 24 | €2,700 | €55,372 | +€52,672 | +1950.8% |
| Financial fixed assets | 28 | €83 | €83 | = | 0.0% |
| Current assets | 29/58 | €499,547 | €337,523 | -€162,024 | -32.4% |
| Amounts receivable within one year | 40/41 | €15,717 | €49,708 | +€33,991 | +216.3% |
| Other amounts receivable | 41 | €15,717 | €49,708 | +€33,991 | +216.3% |
| Cash at bank and in hand | 54/58 | €483,830 | €287,815 | -€196,016 | -40.5% |
| Total equity and liabilities | 10/49 | €2,437,477 | €2,430,332 | -€7,145 | -0.3% |
| Equity | 10/15 | €1,615,196 | €1,732,892 | +€117,695 | +7.3% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Revaluation surpluses | 12 | €22,695 | €22,695 | = | 0.0% |
| Reserves | 13 | €807,033 | €793,665 | -€13,369 | -1.7% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €127,033 | €113,665 | -€13,369 | -10.5% |
| Distributable reserves | 133 | €630,000 | €630,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €285,468 | €416,532 | +€131,064 | +45.9% |
| Provisions and deferred taxes | 16 | €41,838 | €36,925 | -€4,913 | -11.7% |
| Deferred taxes | 168 | €41,838 | €36,925 | -€4,913 | -11.7% |
| Amounts payable | 17/49 | €780,443 | €660,515 | -€119,928 | -15.4% |
| Amounts payable after more than one year | 17 | €717,364 | €642,982 | -€74,382 | -10.4% |
| Financial debts | 170/4 | €665,000 | €590,000 | -€75,000 | -11.3% |
| Other amounts payable | 178/9 | €52,364 | €52,982 | +€618 | +1.2% |
| Amounts payable within one year | 42/48 | €63,079 | €17,533 | -€45,546 | -72.2% |
| Trade debts | 44 | €3,886 | €2,958 | -€928 | -23.9% |
| Suppliers | 440/4 | €3,886 | €2,958 | -€928 | -23.9% |
| Taxes, remuneration and social security | 45 | €58,436 | €13,576 | -€44,859 | -76.8% |
| Taxes | 450/3 | €58,436 | €13,576 | -€44,859 | -76.8% |
| Other amounts payable | 47/48 | €757 | €998 | +€242 | +31.9% |
| Non-recurring operating income | 76A | €120,489 | €15,500 | -€104,989 | -87.1% |
| Remuneration, social security and pensions | 62 | €170 | - | -€170 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,420 | €123,353 | +€8,933 | +7.8% |
| Other operating charges | 640/8 | €11,119 | €31,886 | +€20,767 | +186.8% |
| Gross operating margin | 9900 | €438,254 | €340,184 | -€98,070 | -22.4% |
| Operating profit (loss) | 9901 | €312,544 | €184,944 | -€127,600 | -40.8% |
| Financial income | 75/76B | €430 | €2,189 | +€1,759 | +409.0% |
| Recurring financial income | 75 | €430 | €2,189 | +€1,759 | +409.0% |
| Financial charges | 65/66B | €38,415 | €43,834 | +€5,418 | +14.1% |
| Recurring financial charges | 65 | €38,415 | €43,834 | +€5,418 | +14.1% |
| Profit (loss) for the period before taxes | 9903 | €274,559 | €143,300 | -€131,259 | -47.8% |
| Transfer from deferred taxes | 780 | €4,913 | €4,913 | = | 0.0% |
| Income taxes | 67/77 | €77,116 | €30,517 | -€46,599 | -60.4% |
| Profit (loss) for the period | 9904 | €202,356 | €117,695 | -€84,661 | -41.8% |
| Transfer from tax-exempt reserves | 789 | €13,369 | €13,369 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €215,725 | €131,064 | -€84,661 | -39.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.