IMMO MARC SMET: 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 MARC SMET
Largest movements
- Cash +€67,743
up €67,743 (+45.9%), from €147,533 to €215,276
mainly Depreciation (+€57,257) and Net result for the year (+€37,633)
- Receivables within one year -€33,402
down €33,402 (-100%), from €33,402 to €0
- Profit (loss) carried forward +€37,633
up €37,633 (+65.1%), from -€57,804 to -€20,171
- Tax, wage and social debts -€24,596
down €24,596 (-52.9%), from €46,462 to €21,866
of which Taxes: -€24,596
- Other debts +€18,873
up €18,873 (+15.3%), from €123,329 to €142,203
- Gross operating margin -€60,331
down €60,331 (-30.7%), from €196,446 to €136,114
- Taxes -€17,156
down €17,156 (-52.3%), from €32,813 to €15,658
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 | €485,819 | €516,180 | +€30,361 | +6.2% |
| Fixed assets | 21/28 | €304,884 | €300,904 | -€3,980 | -1.3% |
| Tangible fixed assets | 22/27 | €303,042 | €299,062 | -€3,980 | -1.3% |
| Land and buildings | 22 | €264,203 | €229,332 | -€34,870 | -13.2% |
| Plant, machinery and equipment | 23 | €26,950 | €25,601 | -€1,349 | -5.0% |
| Furniture and vehicles | 24 | €11,889 | €44,129 | +€32,240 | +271% |
| Financial fixed assets | 28 | €1,842 | €1,842 | = | 0.0% |
| Current assets | 29/58 | €180,935 | €215,276 | +€34,341 | +19.0% |
| Amounts receivable within one year | 40/41 | €33,402 | €0 | -€33,402 | -100% |
| Trade receivables | 40 | €33,402 | €0 | -€33,402 | -100% |
| Cash at bank and in hand | 54/58 | €147,533 | €215,276 | +€67,743 | +45.9% |
| Total equity and liabilities | 10/49 | €485,819 | €516,180 | +€30,361 | +6.2% |
| Equity | 10/15 | €314,036 | €351,669 | +€37,633 | +12.0% |
| Contributions | 10/11 | €371,840 | €371,840 | = | 0.0% |
| Capital | 10 | €371,840 | €371,840 | = | 0.0% |
| Issued capital | 100 | €371,840 | €371,840 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,804 | -€20,171 | +€37,633 | +65.1% |
| Amounts payable | 17/49 | €171,783 | €164,511 | -€7,272 | -4.2% |
| Amounts payable within one year | 42/48 | €171,783 | €164,511 | -€7,272 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,992 | €443 | -€1,549 | -77.8% |
| Suppliers | 440/4 | €1,992 | €443 | -€1,549 | -77.8% |
| Taxes, remuneration and social security | 45 | €46,462 | €21,866 | -€24,596 | -52.9% |
| Taxes | 450/3 | €45,962 | €21,366 | -€24,596 | -53.5% |
| Remuneration and social security | 454/9 | €500 | €500 | = | 0.0% |
| Other amounts payable | 47/48 | €123,329 | €142,203 | +€18,873 | +15.3% |
| Non-recurring operating income | 76A | €11,956 | €0 | -€11,956 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,612 | €57,257 | +€1,645 | +3.0% |
| Other operating charges | 640/8 | €24,334 | €24,862 | +€528 | +2.2% |
| Gross operating margin | 9900 | €196,446 | €136,114 | -€60,331 | -30.7% |
| Operating profit (loss) | 9901 | €116,500 | €53,996 | -€62,504 | -53.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €688 | €705 | +€17 | +2.5% |
| Recurring financial charges | 65 | €688 | €705 | +€17 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €115,812 | €53,291 | -€62,522 | -54.0% |
| Income taxes | 67/77 | €32,813 | €15,658 | -€17,156 | -52.3% |
| Profit (loss) for the period | 9904 | €82,999 | €37,633 | -€45,366 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €82,999 | €37,633 | -€45,366 | -54.7% |
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 19 October 2026 via checked.be.