IMMO MARS 25: 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.
What changed
IMMO MARS 25
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€135,136
2024 · €122,484+€12,652
Equity
€2.1m
2024 · €2.0m+€135,136
Cash
€62,705
2024 · €13,494+€49,212
Balance sheet total
€4.9m
2024 · €5.0m-€149,837
Largest movements
Assets
- Tangible fixed assets -€141,636
down €141,636 (-3.5%), from €4.0m to €3.9m
of which Land and buildings: -€140,250
- Receivables within one year -€52,158
down €52,158 (-6.6%), from €785,921 to €733,763
Equity and liabilities
- Reserves +€135,136
up €135,136 (+8.1%), from €1.7m to €1.8m
of which Distributable reserves: +€171,552
- Debts after one year -€128,195
down €128,195 (-9.2%), from €1.4m to €1.3m
- Short-term financial debts -€121,455
down €121,455 (-10.0%), from €1.2m to €1.1m
- Current portion of long-term debt -€63,931
down €63,931 (-31.1%), from €205,591 to €141,660
- Trade debts +€50,732
up €50,732 (+877.1%), from €5,784 to €56,516
Income statement
- Financial charges -€24,619
down €24,619 (-27.5%), from €89,389 to €64,770
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.
Result 2024
€122,484
Gross operating margin
-€413
Depreciation
-€184
Other operating charges
-€349
Other operating items
-€9,959
Financial income
-€278
Financial charges
+€24,619
Taxes
-€785
Result 2025
€135,136
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.
From operations
+€364,368
Investment
-€1,576
Financing
-€313,580
Cash 2024
€13,494
From operations (derived)
+€364,368
Net result for the year
+€135,136
Depreciation
+€143,213
Receivables within one year
+€52,158
Deferred charges and accrued income
+€5,255
Provisions
-€12,138
Trade debts
+€50,732
Tax, wage and social debts
-€8,610
Accrued charges and deferred income
-€1,376
Investment (derived)
-€1,576
Investment in fixed assets (net)
-€1,576
Financing
-€313,580
Debts after one year
-€128,195
Current portion of long-term debt
-€63,931
Short-term financial debts
-€121,455
Cash 2025
€62,705
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,040,367 | €4,890,530 | -€149,837 | -3.0% |
| Fixed assets | 21/28 | €4,028,512 | €3,886,875 | -€141,636 | -3.5% |
| Tangible fixed assets | 22/27 | €4,028,512 | €3,886,875 | -€141,636 | -3.5% |
| Land and buildings | 22 | €3,992,844 | €3,852,594 | -€140,250 | -3.5% |
| Plant, machinery and equipment | 23 | €915 | €735 | -€180 | -19.7% |
| Furniture and vehicles | 24 | €4,642 | €3,436 | -€1,206 | -26.0% |
| Other tangible fixed assets | 26 | €30,110 | €30,110 | = | 0.0% |
| Current assets | 29/58 | €1,011,855 | €1,003,655 | -€8,200 | -0.8% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €785,921 | €733,763 | -€52,158 | -6.6% |
| Other amounts receivable | 41 | €785,921 | €733,763 | -€52,158 | -6.6% |
| Cash at bank and in hand | 54/58 | €13,494 | €62,705 | +€49,212 | +364.7% |
| Deferred charges and accrued income | 490/1 | €12,441 | €7,187 | -€5,255 | -42.2% |
| Total equity and liabilities | 10/49 | €5,040,367 | €4,890,530 | -€149,837 | -3.0% |
| Equity | 10/15 | €1,977,506 | €2,112,642 | +€135,136 | +6.8% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €1,677,506 | €1,812,642 | +€135,136 | +8.1% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €399,180 | €362,765 | -€36,415 | -9.1% |
| Distributable reserves | 133 | €1,248,326 | €1,419,877 | +€171,552 | +13.7% |
| Provisions and deferred taxes | 16 | €183,465 | €171,327 | -€12,138 | -6.6% |
| Deferred taxes | 168 | €183,465 | €171,327 | -€12,138 | -6.6% |
| Amounts payable | 17/49 | €2,879,396 | €2,606,561 | -€272,835 | -9.5% |
| Amounts payable after more than one year | 17 | €1,387,535 | €1,259,340 | -€128,195 | -9.2% |
| Financial debts | 170/4 | €1,387,535 | €1,259,340 | -€128,195 | -9.2% |
| Amounts payable within one year | 42/48 | €1,486,290 | €1,343,027 | -€143,264 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €205,591 | €141,660 | -€63,931 | -31.1% |
| Financial debts | 43 | €1,214,545 | €1,093,091 | -€121,455 | -10.0% |
| Credit institutions | 430/8 | €1,214,545 | €1,093,091 | -€121,455 | -10.0% |
| Trade debts | 44 | €5,784 | €56,516 | +€50,732 | +877.1% |
| Suppliers | 440/4 | €5,784 | €56,516 | +€50,732 | +877.1% |
| Taxes, remuneration and social security | 45 | €60,370 | €51,760 | -€8,610 | -14.3% |
| Taxes | 450/3 | €60,370 | €51,760 | -€8,610 | -14.3% |
| Accrued charges and deferred income | 492/3 | €5,571 | €4,195 | -€1,376 | -24.7% |
| Non-recurring operating income | 76A | - | €215 | +€215 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,029 | €143,213 | +€184 | +0.1% |
| Other operating charges | 640/8 | €13,918 | €14,267 | +€349 | +2.5% |
| Non-recurring operating charges | 66A | - | €9,959 | +€9,959 | |
| Gross operating margin | 9900 | €389,320 | €388,907 | -€413 | -0.1% |
| Operating profit (loss) | 9901 | €232,373 | €221,468 | -€10,905 | -4.7% |
| Financial income | 75/76B | €27,740 | €27,462 | -€278 | -1.0% |
| Recurring financial income | 75 | €27,740 | €27,462 | -€278 | -1.0% |
| Financial charges | 65/66B | €89,389 | €64,770 | -€24,619 | -27.5% |
| Recurring financial charges | 65 | €89,389 | €64,770 | -€24,619 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | €170,724 | €184,161 | +€13,437 | +7.9% |
| Transfer from deferred taxes | 780 | €12,138 | €12,138 | = | 0.0% |
| Income taxes | 67/77 | €60,378 | €61,163 | +€785 | +1.3% |
| Profit (loss) for the period | 9904 | €122,484 | €135,136 | +€12,652 | +10.3% |
| Transfer from tax-exempt reserves | 789 | €36,415 | €36,415 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €158,900 | €171,552 | +€12,652 | +8.0% |
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 8 October 2026 via checked.be.