IMMO-MARTENS: 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-MARTENS
Largest movements
- Cash +€126,770
up €126,770 (+510%), from €24,871 to €151,641
mainly Net result for the year (+€122,607) and Depreciation (+€115,773)
- Tangible fixed assets -€115,773
down €115,773 (-3.5%), from €3.3m to €3.2m
- Debts after one year -€125,955
down €125,955 (-16.3%), from €770,520 to €644,565
- Profit (loss) carried forward +€122,607
up €122,607 (+17.3%), from €709,486 to €832,093
- Depreciation -€14,157
down €14,157 (-10.9%), from €129,930 to €115,773
- Gross operating margin -€9,611
down €9,611 (-2.9%), from €332,044 to €322,433
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 | €3,425,009 | €3,456,206 | +€31,197 | +0.9% |
| Fixed assets | 21/28 | €3,267,714 | €3,151,941 | -€115,773 | -3.5% |
| Tangible fixed assets | 22/27 | €3,267,555 | €3,151,782 | -€115,773 | -3.5% |
| Land and buildings | 22 | €3,267,555 | €3,151,782 | -€115,773 | -3.5% |
| Financial fixed assets | 28 | €159 | €159 | = | 0.0% |
| Current assets | 29/58 | €157,296 | €304,266 | +€146,970 | +93.4% |
| Amounts receivable within one year | 40/41 | €131,575 | €142,625 | +€11,050 | +8.4% |
| Trade receivables | 40 | €26,575 | €37,625 | +€11,050 | +41.6% |
| Other amounts receivable | 41 | €105,000 | €105,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €24,871 | €151,641 | +€126,770 | +510% |
| Deferred charges and accrued income | 490/1 | €850 | €10,000 | +€9,150 | +1,076% |
| Total equity and liabilities | 10/49 | €3,425,009 | €3,456,206 | +€31,197 | +0.9% |
| Equity | 10/15 | €2,208,905 | €2,331,512 | +€122,607 | +5.6% |
| Contributions | 10/11 | €307,484 | €307,484 | = | 0.0% |
| Reserves | 13 | €1,191,935 | €1,191,935 | = | 0.0% |
| Tax-exempt reserves | 132 | €837,410 | €837,410 | = | 0.0% |
| Distributable reserves | 133 | €354,525 | €354,525 | = | 0.0% |
| Profit (loss) carried forward | 14 | €709,486 | €832,093 | +€122,607 | +17.3% |
| Amounts payable | 17/49 | €1,216,104 | €1,124,694 | -€91,410 | -7.5% |
| Amounts payable after more than one year | 17 | €770,520 | €644,565 | -€125,955 | -16.3% |
| Financial debts | 170/4 | €770,520 | €644,565 | -€125,955 | -16.3% |
| Amounts payable within one year | 42/48 | €444,137 | €478,606 | +€34,468 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €121,872 | €155,955 | +€34,083 | +28.0% |
| Trade debts | 44 | €1,628 | €215 | -€1,413 | -86.8% |
| Suppliers | 440/4 | €1,628 | €215 | -€1,413 | -86.8% |
| Taxes, remuneration and social security | 45 | €13,149 | €24,947 | +€11,798 | +89.7% |
| Taxes | 450/3 | €13,149 | €24,947 | +€11,798 | +89.7% |
| Other amounts payable | 47/48 | €307,488 | €297,488 | -€10,000 | -3.3% |
| Accrued charges and deferred income | 492/3 | €1,447 | €1,523 | +€76 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,930 | €115,773 | -€14,157 | -10.9% |
| Other operating charges | 640/8 | €36,615 | €33,645 | -€2,970 | -8.1% |
| Gross operating margin | 9900 | €332,044 | €322,433 | -€9,611 | -2.9% |
| Operating profit (loss) | 9901 | €165,499 | €173,015 | +€7,516 | +4.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €9,938 | €8,436 | -€1,502 | -15.1% |
| Recurring financial charges | 65 | €9,938 | €8,436 | -€1,502 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €155,561 | €164,579 | +€9,018 | +5.8% |
| Income taxes | 67/77 | €40,354 | €41,972 | +€1,618 | +4.0% |
| Profit (loss) for the period | 9904 | €115,207 | €122,607 | +€7,400 | +6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €115,207 | €122,607 | +€7,400 | +6.4% |
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 17 October 2026 via checked.be.