Immo Margaux: 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 Margaux
Largest movements
- Tangible fixed assets +€22,440
up €22,440 (+22.6%), from €99,398 to €121,838
- Receivables within one year +€17,616
up €17,616 (+164%), from €10,773 to €28,390
of which Other amounts receivable: +€10,542
- Cash -€13,743
down €13,743 (-31.2%), from €44,102 to €30,359
mainly Investment in fixed assets (net) (-€50,181) and Receivables within one year (-€17,616)
- Current investments +€3,688
new in 2025: €3,688
- Reserves +€28,713
up €28,713 (+66.9%), from €42,896 to €71,608
- Current portion of long-term debt +€21,124
up €21,124 (+155%), from €13,671 to €34,795
- Other debts -€14,270
down €14,270 (-100%), from €14,270 to €0
- Trade debts -€12,352
down €12,352 (-45.2%), from €27,333 to €14,982
- Debts after one year +€4,146
up €4,146 (+10.4%), from €39,814 to €43,960
- Depreciation +€8,397
up €8,397 (+41.1%), from €20,455 to €28,852
- Taxes -€1,024
down €1,024 (-7.1%), from €14,513 to €13,489
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 | €160,450 | €190,280 | +€29,830 | +18.6% |
| Formation expenses | 20 | €5,494 | €4,383 | -€1,111 | -20.2% |
| Fixed assets | 21/28 | €99,398 | €121,838 | +€22,440 | +22.6% |
| Tangible fixed assets | 22/27 | €99,398 | €121,838 | +€22,440 | +22.6% |
| Plant, machinery and equipment | 23 | €4,886 | €10,128 | +€5,243 | +107% |
| Furniture and vehicles | 24 | €72,502 | €80,803 | +€8,302 | +11.5% |
| Other tangible fixed assets | 26 | €22,011 | €30,906 | +€8,896 | +40.4% |
| Current assets | 29/58 | €55,558 | €64,059 | +€8,501 | +15.3% |
| Amounts receivable within one year | 40/41 | €10,773 | €28,390 | +€17,616 | +164% |
| Trade receivables | 40 | €2,513 | €9,588 | +€7,075 | +282% |
| Other amounts receivable | 41 | €8,260 | €18,802 | +€10,542 | +128% |
| Current investments | 50/53 | - | €3,688 | +€3,688 | |
| Cash at bank and in hand | 54/58 | €44,102 | €30,359 | -€13,743 | -31.2% |
| Deferred charges and accrued income | 490/1 | €682 | €1,623 | +€940 | +138% |
| Total equity and liabilities | 10/49 | €160,450 | €190,280 | +€29,830 | +18.6% |
| Equity | 10/15 | €46,896 | €75,608 | +€28,713 | +61.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €42,896 | €71,608 | +€28,713 | +66.9% |
| Distributable reserves | 133 | €42,896 | €71,608 | +€28,713 | +66.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €113,554 | €114,672 | +€1,118 | +1.0% |
| Amounts payable after more than one year | 17 | €39,814 | €43,960 | +€4,146 | +10.4% |
| Financial debts | 170/4 | €39,814 | €43,960 | +€4,146 | +10.4% |
| Amounts payable within one year | 42/48 | €72,109 | €70,314 | -€1,796 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €13,671 | €34,795 | +€21,124 | +155% |
| Financial debts | 43 | - | €3,537 | +€3,537 | |
| Credit institutions | 430/8 | - | €3,537 | +€3,537 | |
| Trade debts | 44 | €27,333 | €14,982 | -€12,352 | -45.2% |
| Suppliers | 440/4 | €27,333 | €14,982 | -€12,352 | -45.2% |
| Taxes, remuneration and social security | 45 | €16,835 | €17,000 | +€165 | +1.0% |
| Taxes | 450/3 | €13,748 | €17,000 | +€3,251 | +23.7% |
| Remuneration and social security | 454/9 | €3,087 | €0 | -€3,087 | -100% |
| Other amounts payable | 47/48 | €14,270 | €0 | -€14,270 | -100% |
| Accrued charges and deferred income | 492/3 | €1,631 | €398 | -€1,233 | -75.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,455 | €28,852 | +€8,397 | +41.1% |
| Other operating charges | 640/8 | €924 | €1,532 | +€608 | +65.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €75,286 | €75,498 | +€212 | +0.3% |
| Operating profit (loss) | 9901 | €53,907 | €45,114 | -€8,793 | -16.3% |
| Financial income | 75/76B | €86 | €32 | -€54 | -63.2% |
| Recurring financial income | 75 | €86 | €32 | -€54 | -63.2% |
| Financial charges | 65/66B | €2,792 | €2,945 | +€153 | +5.5% |
| Recurring financial charges | 65 | €2,792 | €2,945 | +€153 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €51,202 | €42,202 | -€9,000 | -17.6% |
| Income taxes | 67/77 | €14,513 | €13,489 | -€1,024 | -7.1% |
| Profit (loss) for the period | 9904 | €36,689 | €28,713 | -€7,976 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,689 | €28,713 | -€7,976 | -21.7% |
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 26 October 2026 via checked.be.