IMMO MATRIX: 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 MATRIX
Largest movements
- Current investments +€1.7m
new in 2025: €1.7m
- Cash +€99,571
up €99,571 (+2513.8%), from €3,961 to €103,532
mainly Net result for the year (+€1.4m) and Provisions (+€453,000)
- Tangible fixed assets -€75,631
down €75,631 (-13.0%), from €580,726 to €505,095
- Reserves +€1.4m
up €1.4m (+7015.5%), from €19,515 to €1.4m
of which Tax-exempt reserves: +€1.4m
- Provisions +€453,000
up €453,000 (+2384.2%), from €19,000 to €472,000
of which Deferred taxes: +€453,000
- Accrued charges and deferred income -€71,000
no longer reported in 2025 (was €71,000)
- Debts after one year -€50,454
down €50,454 (-15.3%), from €329,238 to €278,784
- Other debts +€32,000
up €32,000 (+29.8%), from €107,422 to €139,422
- Gross operating margin +€1.8m
up €1.8m (+6451.6%), from €28,056 to €1.8m
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 | €902,929 | €2,625,484 | +€1.7m | +190.8% |
| Fixed assets | 21/28 | €897,583 | €821,952 | -€75,631 | -8.4% |
| Tangible fixed assets | 22/27 | €580,726 | €505,095 | -€75,631 | -13.0% |
| Land and buildings | 22 | €580,726 | €505,095 | -€75,631 | -13.0% |
| Financial fixed assets | 28 | €316,857 | €316,857 | = | 0.0% |
| Current assets | 29/58 | €5,346 | €1,803,532 | +€1.8m | +33637.5% |
| Amounts receivable within one year | 40/41 | €890 | - | -€890 | |
| Other amounts receivable | 41 | €890 | - | -€890 | |
| Current investments | 50/53 | - | €1,700,000 | +€1.7m | |
| Cash at bank and in hand | 54/58 | €3,961 | €103,532 | +€99,571 | +2513.8% |
| Deferred charges and accrued income | 490/1 | €495 | - | -€495 | |
| Total equity and liabilities | 10/49 | €902,929 | €2,625,484 | +€1.7m | +190.8% |
| Equity | 10/15 | €306,928 | €1,676,581 | +€1.4m | +446.2% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Reserves | 13 | €19,515 | €1,388,617 | +€1.4m | +7015.5% |
| Non-distributable reserves | 130/1 | €14,915 | €14,915 | = | 0.0% |
| Legal reserve | 130 | €14,915 | €14,915 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €1,359,102 | +€1.4m | |
| Distributable reserves | 133 | €4,600 | €14,600 | +€10,000 | +217.4% |
| Profit (loss) carried forward | 14 | €138,677 | €139,227 | +€551 | +0.4% |
| Provisions and deferred taxes | 16 | €19,000 | €472,000 | +€453,000 | +2384.2% |
| Provisions for liabilities and charges | 160/5 | €19,000 | €19,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €19,000 | €19,000 | = | 0.0% |
| Deferred taxes | 168 | - | €453,000 | +€453,000 | |
| Amounts payable | 17/49 | €577,001 | €476,903 | -€100,098 | -17.3% |
| Amounts payable after more than one year | 17 | €329,238 | €278,784 | -€50,454 | -15.3% |
| Financial debts | 170/4 | €329,238 | €278,784 | -€50,454 | -15.3% |
| Amounts payable within one year | 42/48 | €176,763 | €198,119 | +€21,356 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | €53,913 | €50,454 | -€3,460 | -6.4% |
| Trade debts | 44 | €7,067 | €383 | -€6,685 | -94.6% |
| Suppliers | 440/4 | €7,067 | €383 | -€6,685 | -94.6% |
| Taxes, remuneration and social security | 45 | €8,360 | €7,860 | -€500 | -6.0% |
| Taxes | 450/3 | €8,360 | €7,860 | -€500 | -6.0% |
| Other amounts payable | 47/48 | €107,422 | €139,422 | +€32,000 | +29.8% |
| Accrued charges and deferred income | 492/3 | €71,000 | - | -€71,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,044 | - | -€2,044 | |
| Other operating charges | 640/8 | €11,313 | €14,105 | +€2,792 | +24.7% |
| Gross operating margin | 9900 | €28,056 | €1,838,118 | +€1.8m | +6451.6% |
| Operating profit (loss) | 9901 | €14,699 | €1,824,013 | +€1.8m | +12309.0% |
| Financial income | 75/76B | - | €11,851 | +€11,851 | |
| Recurring financial income | 75 | - | €11,851 | +€11,851 | |
| Financial charges | 65/66B | €5,076 | €6,863 | +€1,787 | +35.2% |
| Recurring financial charges | 65 | €5,076 | €6,863 | +€1,787 | +35.2% |
| Profit (loss) for the period before taxes | 9903 | €9,623 | €1,829,000 | +€1.8m | +18906.1% |
| Transfer to deferred taxes | 680 | - | €453,000 | +€453,000 | |
| Income taxes | 67/77 | €5,022 | €6,347 | +€1,325 | +26.4% |
| Profit (loss) for the period | 9904 | €4,601 | €1,369,653 | +€1.4m | +29665.7% |
| Transfer to tax-exempt reserves | 689 | - | €1,359,102 | +€1.4m | |
| Profit (loss) for the period to be appropriated | 9905 | €4,601 | €10,551 | +€5,949 | +129.3% |
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 29 September 2026 via checked.be.