IMMO MAX: 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 MAX
Largest movements
- Tangible fixed assets -€68,179
down €68,179 (-8.7%), from €783,853 to €715,674
of which Land and buildings: -€67,023
- Debts after one year -€48,774
down €48,774 (-14.2%), from €344,564 to €295,790
- Other debts -€36,613
down €36,613 (-92.1%), from €39,743 to €3,130
- Profit (loss) carried forward +€21,055
up €21,055 (+9.4%), from €224,957 to €246,012
- Reserves -€10,483
down €10,483 (-5.2%), from €201,050 to €190,567
of which Tax-exempt reserves: -€10,483
- Taxes +€7,584
up €7,584 (+252,800%), from €3 to €7,587
- Purchases and services +€1,461
up €1,461 (+21.3%), from €6,855 to €8,316
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 | €870,433 | €804,259 | -€66,174 | -7.6% |
| Fixed assets | 21/28 | €796,450 | €722,081 | -€74,369 | -9.3% |
| Tangible fixed assets | 22/27 | €783,853 | €715,674 | -€68,179 | -8.7% |
| Land and buildings | 22 | €774,281 | €707,258 | -€67,023 | -8.7% |
| Plant, machinery and equipment | 23 | €9,572 | €8,416 | -€1,156 | -12.1% |
| Financial fixed assets | 28 | €12,597 | €6,407 | -€6,190 | -49.1% |
| Current assets | 29/58 | €73,983 | €82,178 | +€8,195 | +11.1% |
| Amounts receivable within one year | 40/41 | €20,998 | €20,999 | +€1 | 0.0% |
| Other amounts receivable | 41 | €20,998 | €20,999 | +€1 | 0.0% |
| Cash at bank and in hand | 54/58 | €51,683 | €59,827 | +€8,144 | +15.8% |
| Deferred charges and accrued income | 490/1 | €1,302 | €1,352 | +€50 | +3.8% |
| Total equity and liabilities | 10/49 | €870,433 | €804,259 | -€66,174 | -7.6% |
| Equity | 10/15 | €438,407 | €448,979 | +€10,572 | +2.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €201,050 | €190,567 | -€10,483 | -5.2% |
| Tax-exempt reserves | 132 | €199,190 | €188,707 | -€10,483 | -5.3% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €224,957 | €246,012 | +€21,055 | +9.4% |
| Amounts payable | 17/49 | €432,026 | €355,280 | -€76,746 | -17.8% |
| Amounts payable after more than one year | 17 | €344,564 | €295,790 | -€48,774 | -14.2% |
| Financial debts | 170/4 | €344,564 | €295,790 | -€48,774 | -14.2% |
| Amounts payable within one year | 42/48 | €87,462 | €59,490 | -€27,972 | -32.0% |
| Current portion of amounts payable after more than one year | 42 | €47,719 | €48,774 | +€1,055 | +2.2% |
| Taxes, remuneration and social security | 45 | - | €7,586 | +€7,586 | |
| Taxes | 450/3 | - | €7,586 | +€7,586 | |
| Other amounts payable | 47/48 | €39,743 | €3,130 | -€36,613 | -92.1% |
| Turnover | 70 | €109,300 | €110,203 | +€903 | +0.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €6,855 | €8,316 | +€1,461 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,579 | €70,286 | -€293 | -0.4% |
| Other operating charges | 640/8 | €4,331 | €4,469 | +€138 | +3.2% |
| Gross operating margin | 9900 | €102,445 | €101,887 | -€558 | -0.5% |
| Operating profit (loss) | 9901 | €27,535 | €27,132 | -€403 | -1.5% |
| Financial income | 75/76B | €425 | €22 | -€403 | -94.8% |
| Recurring financial income | 75 | €425 | €22 | -€403 | -94.8% |
| Financial charges | 65/66B | €9,871 | €8,995 | -€876 | -8.9% |
| Recurring financial charges | 65 | €9,871 | €8,995 | -€876 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €18,089 | €18,159 | +€70 | +0.4% |
| Income taxes | 67/77 | €3 | €7,587 | +€7,584 | +252,800% |
| Profit (loss) for the period | 9904 | €18,086 | €10,572 | -€7,514 | -41.5% |
| Transfer from tax-exempt reserves | 789 | - | €10,483 | +€10,483 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,086 | €21,055 | +€2,969 | +16.4% |
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 18 October 2026 via checked.be.