Immo Mattheus: 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 Mattheus
Largest movements
- Tangible fixed assets +€595,268
up €595,268 (+136%), from €436,758 to €1.0m
of which Land and buildings: +€507,549
- Receivables within one year +€279,807
up €279,807 (+1,660%), from €16,858 to €296,665
- Other debts +€787,333
up €787,333 (+1,450%), from €54,301 to €841,635
- Debts after one year +€133,229
up €133,229 (+56.6%), from €235,418 to €368,647
of which Financial debts: +€368,647
- Profit (loss) carried forward -€34,871
down €34,871, from €9,223 to -€25,648
- Depreciation +€77,823
up €77,823 (+474%), from €16,408 to €94,232
- Gross operating margin +€23,678
up €23,678 (+63.7%), from €37,155 to €60,833
- Financial charges -€7,939
down €7,939 (-90.8%), from €8,742 to €804
- Taxes -€3,249
down €3,249 (-94.4%), from €3,442 to €193
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 | €465,624 | €1,349,424 | +€883,800 | +190% |
| Fixed assets | 21/28 | €437,958 | €1,033,226 | +€595,268 | +136% |
| Tangible fixed assets | 22/27 | €436,758 | €1,032,026 | +€595,268 | +136% |
| Land and buildings | 22 | €436,758 | €944,306 | +€507,549 | +116% |
| Plant, machinery and equipment | 23 | - | €60,737 | +€60,737 | |
| Furniture and vehicles | 24 | - | €26,983 | +€26,983 | |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €27,666 | €316,198 | +€288,532 | +1,043% |
| Amounts receivable within one year | 40/41 | €16,858 | €296,665 | +€279,807 | +1,660% |
| Other amounts receivable | 41 | €16,858 | €296,665 | +€279,807 | +1,660% |
| Cash at bank and in hand | 54/58 | €10,808 | €18,573 | +€7,765 | +71.8% |
| Deferred charges and accrued income | 490/1 | €0 | €960 | +€960 | |
| Total equity and liabilities | 10/49 | €465,624 | €1,349,424 | +€883,800 | +190% |
| Equity | 10/15 | €145,188 | €106,817 | -€38,371 | -26.4% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €100,965 | €97,465 | -€3,500 | -3.5% |
| Distributable reserves | 133 | €100,965 | €97,465 | -€3,500 | -3.5% |
| Profit (loss) carried forward | 14 | €9,223 | -€25,648 | -€34,871 | |
| Amounts payable | 17/49 | €320,435 | €1,242,607 | +€922,172 | +288% |
| Amounts payable after more than one year | 17 | €235,418 | €368,647 | +€133,229 | +56.6% |
| Financial debts | 170/4 | €0 | €368,647 | +€368,647 | |
| Other amounts payable | 178/9 | €235,418 | €0 | -€235,418 | -100% |
| Amounts payable within one year | 42/48 | €80,751 | €873,960 | +€793,209 | +982% |
| Current portion of amounts payable after more than one year | 42 | €25,332 | €31,353 | +€6,021 | +23.8% |
| Trade debts | 44 | €1,117 | €972 | -€145 | -13.0% |
| Suppliers | 440/4 | €1,117 | €972 | -€145 | -13.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €54,301 | €841,635 | +€787,333 | +1,450% |
| Accrued charges and deferred income | 492/3 | €4,267 | €0 | -€4,267 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,408 | €94,232 | +€77,823 | +474% |
| Other operating charges | 640/8 | €3,636 | €3,976 | +€340 | +9.4% |
| Gross operating margin | 9900 | €37,155 | €60,833 | +€23,678 | +63.7% |
| Operating profit (loss) | 9901 | €17,111 | -€37,374 | -€54,486 | |
| Financial charges | 65/66B | €8,742 | €804 | -€7,939 | -90.8% |
| Recurring financial charges | 65 | €8,742 | €804 | -€7,939 | -90.8% |
| Profit (loss) for the period before taxes | 9903 | €8,369 | -€38,178 | -€46,547 | |
| Income taxes | 67/77 | €3,442 | €193 | -€3,249 | -94.4% |
| Profit (loss) for the period | 9904 | €4,927 | -€38,371 | -€43,299 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,927 | -€38,371 | -€43,299 |
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 19 October 2026 via checked.be.