IMMO MARRAF: 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 MARRAF
Largest movements
- Tangible fixed assets -€68,754
down €68,754 (-3.0%), from €2.3m to €2.2m
- Other debts -€110,000
down €110,000 (-2.7%), from €4.1m to €4.0m
- Profit (loss) carried forward +€54,387
up €54,387 (+14.3%), from -€379,016 to -€324,629
- Gross operating margin +€28,215
up €28,215 (+25.5%), from €110,599 to €138,814
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 | €3,865,890 | €3,804,656 | -€61,234 | -1.6% |
| Fixed assets | 21/28 | €3,855,936 | €3,787,182 | -€68,754 | -1.8% |
| Tangible fixed assets | 22/27 | €2,310,303 | €2,241,549 | -€68,754 | -3.0% |
| Land and buildings | 22 | €2,310,303 | €2,241,549 | -€68,754 | -3.0% |
| Financial fixed assets | 28 | €1,545,633 | €1,545,633 | = | 0.0% |
| Current assets | 29/58 | €9,954 | €17,474 | +€7,520 | +75.5% |
| Cash at bank and in hand | 54/58 | €9,954 | €14,474 | +€4,520 | +45.4% |
| Deferred charges and accrued income | 490/1 | - | €3,000 | +€3,000 | |
| Total equity and liabilities | 10/49 | €3,865,890 | €3,804,656 | -€61,234 | -1.6% |
| Equity | 10/15 | -€239,016 | -€184,629 | +€54,387 | +22.8% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Capital | 10 | €140,000 | €140,000 | = | 0.0% |
| Issued capital | 100 | €140,000 | €140,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€379,016 | -€324,629 | +€54,387 | +14.3% |
| Amounts payable | 17/49 | €4,104,906 | €3,989,285 | -€115,621 | -2.8% |
| Amounts payable within one year | 42/48 | €4,092,000 | €3,982,000 | -€110,000 | -2.7% |
| Trade debts | 44 | €2,000 | €2,000 | = | 0.0% |
| Suppliers | 440/4 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €4,090,000 | €3,980,000 | -€110,000 | -2.7% |
| Accrued charges and deferred income | 492/3 | €12,906 | €7,285 | -€5,621 | -43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,755 | €68,754 | -€1 | 0.0% |
| Other operating charges | 640/8 | €15,008 | €15,479 | +€471 | +3.1% |
| Gross operating margin | 9900 | €110,599 | €138,814 | +€28,215 | +25.5% |
| Operating profit (loss) | 9901 | €26,836 | €54,581 | +€27,745 | +103.4% |
| Financial charges | 65/66B | €163 | €194 | +€31 | +19.0% |
| Recurring financial charges | 65 | €163 | €194 | +€31 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €26,673 | €54,387 | +€27,714 | +103.9% |
| Profit (loss) for the period | 9904 | €26,673 | €54,387 | +€27,714 | +103.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,673 | €54,387 | +€27,714 | +103.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.