IMMO MALVOZ: what changed
Two financial 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 MALVOZ
Largest movements
- Tangible fixed assets -€159,539
down €159,539 (-2.2%), from €7.2m to €7.0m
- Debts after one year -€551,019
down €551,019 (-72.9%), from €756,019 to €205,000
- Profit (loss) carried forward +€459,504
up €459,504 (+16.9%), from €2.7m to €3.2m
- Turnover +€796,732
new in 2025: €796,732
- Depreciation +€66,095
up €66,095 (+70.7%), from €93,445 to €159,539
- Write-downs -€66,095
no longer reported in 2025 (was €66,095)
- Gross operating margin +€20,265
up €20,265 (+2.7%), from €764,211 to €784,477
- Financial income -€17,254
down €17,254 (-35.1%), from €49,188 to €31,935
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.
Derived cash bridge
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 | €9,029,091 | €8,945,239 | -€83,852 | -0.9% |
| Fixed assets | 21/28 | €7,203,991 | €7,044,452 | -€159,539 | -2.2% |
| Tangible fixed assets | 22/27 | €7,203,991 | €7,044,452 | -€159,539 | -2.2% |
| Other tangible fixed assets | 26 | €7,203,991 | €7,044,452 | -€159,539 | -2.2% |
| Current assets | 29/58 | €1,825,100 | €1,900,787 | +€75,687 | +4.1% |
| Cash at bank and in hand | 54/58 | €1,821,348 | €1,898,475 | +€77,127 | +4.2% |
| Deferred charges and accrued income | 490/1 | €3,752 | €2,313 | -€1,440 | -38.4% |
| Total equity and liabilities | 10/49 | €9,029,091 | €8,945,239 | -€83,852 | -0.9% |
| Equity | 10/15 | €8,244,215 | €8,703,719 | +€459,504 | +5.6% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Revaluation surpluses | 12 | €4,240,580 | €4,180,788 | -€59,791 | -1.4% |
| Reserves | 13 | €1,252,244 | €1,312,036 | +€59,791 | +4.8% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €1,214,744 | €1,274,536 | +€59,791 | +4.9% |
| Profit (loss) carried forward | 14 | €2,711,391 | €3,170,895 | +€459,504 | +16.9% |
| Amounts payable | 17/49 | €784,876 | €241,520 | -€543,356 | -69.2% |
| Amounts payable after more than one year | 17 | €756,019 | €205,000 | -€551,019 | -72.9% |
| Financial debts | 170/4 | €756,019 | €205,000 | -€551,019 | -72.9% |
| Amounts payable within one year | 42/48 | €19,551 | €33,608 | +€14,057 | +71.9% |
| Trade debts | 44 | €88 | €89 | +€2 | +1.9% |
| Suppliers | 440/4 | €88 | €89 | +€2 | +1.9% |
| Taxes, remuneration and social security | 45 | €19,463 | €33,518 | +€14,055 | +72.2% |
| Taxes | 450/3 | €19,463 | €33,518 | +€14,055 | +72.2% |
| Accrued charges and deferred income | 492/3 | €9,306 | €2,912 | -€6,394 | -68.7% |
| Turnover | 70 | - | €796,732 | +€796,732 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €12,255 | +€12,255 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,445 | €159,539 | +€66,095 | +70.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €66,095 | - | -€66,095 | |
| Gross operating margin | 9900 | €764,211 | €784,477 | +€20,265 | +2.7% |
| Operating profit (loss) | 9901 | €604,672 | €624,937 | +€20,265 | +3.4% |
| Financial income | 75/76B | €49,188 | €31,935 | -€17,254 | -35.1% |
| Recurring financial income | 75 | €49,188 | €31,935 | -€17,254 | -35.1% |
| Financial charges | 65/66B | €36,773 | €24,269 | -€12,504 | -34.0% |
| Recurring financial charges | 65 | €36,773 | €24,269 | -€12,504 | -34.0% |
| Profit (loss) for the period before taxes | 9903 | €617,087 | €632,603 | +€15,515 | +2.5% |
| Income taxes | 67/77 | €169,220 | €173,099 | +€3,879 | +2.3% |
| Profit (loss) for the period | 9904 | €447,868 | €459,504 | +€11,637 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €447,868 | €459,504 | +€11,637 | +2.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.