IMMO MBD: 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 MBD
Largest movements
- Tangible fixed assets +€484,441
up €484,441 (+79.3%), from €610,940 to €1.1m
of which Assets under construction and advance payments: +€859,166
- Receivables within one year +€139,208
up €139,208 (+1698.6%), from €8,195 to €147,403
of which Trade receivables: +€145,795
- Other debts +€254,459
up €254,459 (+102.4%), from €248,606 to €503,065
- Trade debts +€191,136
new in 2025: €191,136
- Debts after one year +€169,295
up €169,295 (+40.6%), from €417,037 to €586,332
- Current portion of long-term debt +€37,530
new in 2025: €37,530
- Profit (loss) carried forward -€27,966
down €27,966 (-53.2%), from -€52,539 to -€80,505
- Financial charges +€15,626
up €15,626 (+172.3%), from €9,069 to €24,694
- Depreciation -€2,693
down €2,693 (-100.0%), from €2,693 to €0
- Gross operating margin -€1,338
down €1,338 (-109.6%), from -€1,221 to -€2,559
- Financial income -€412
down €412 (-100.0%), from €412 to €0
- Other operating charges +€400
up €400 (+128.3%), from €312 to €712
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 | €628,104 | €1,252,559 | +€624,455 | +99.4% |
| Fixed assets | 21/28 | €610,940 | €1,095,381 | +€484,441 | +79.3% |
| Tangible fixed assets | 22/27 | €610,940 | €1,095,381 | +€484,441 | +79.3% |
| Land and buildings | 22 | €610,940 | €236,215 | -€374,725 | -61.3% |
| Assets under construction and advance payments | 27 | - | €859,166 | +€859,166 | |
| Current assets | 29/58 | €17,164 | €157,178 | +€140,014 | +815.7% |
| Amounts receivable within one year | 40/41 | €8,195 | €147,403 | +€139,208 | +1698.6% |
| Trade receivables | 40 | - | €145,795 | +€145,795 | |
| Other amounts receivable | 41 | €8,195 | €1,608 | -€6,587 | -80.4% |
| Cash at bank and in hand | 54/58 | €8,969 | €9,775 | +€806 | +9.0% |
| Total equity and liabilities | 10/49 | €628,104 | €1,252,559 | +€624,455 | +99.4% |
| Equity | 10/15 | -€37,539 | -€65,505 | -€27,966 | -74.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,539 | -€80,505 | -€27,966 | -53.2% |
| Amounts payable | 17/49 | €665,644 | €1,318,064 | +€652,421 | +98.0% |
| Amounts payable after more than one year | 17 | €417,037 | €586,332 | +€169,295 | +40.6% |
| Financial debts | 170/4 | €417,037 | €586,332 | +€169,295 | +40.6% |
| Amounts payable within one year | 42/48 | €248,606 | €731,732 | +€483,126 | +194.3% |
| Current portion of amounts payable after more than one year | 42 | - | €37,530 | +€37,530 | |
| Trade debts | 44 | - | €191,136 | +€191,136 | |
| Suppliers | 440/4 | - | €191,136 | +€191,136 | |
| Other amounts payable | 47/48 | €248,606 | €503,065 | +€254,459 | +102.4% |
| Non-recurring operating income | 76A | - | €2,693 | +€2,693 | |
| Remuneration, social security and pensions | 62 | €387 | - | -€387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,693 | €0 | -€2,693 | -100.0% |
| Other operating charges | 640/8 | €312 | €712 | +€400 | +128.3% |
| Gross operating margin | 9900 | -€1,221 | -€2,559 | -€1,338 | -109.6% |
| Operating profit (loss) | 9901 | -€4,614 | -€3,272 | +€1,342 | +29.1% |
| Financial income | 75/76B | €412 | €0 | -€412 | -100.0% |
| Recurring financial income | 75 | €412 | €0 | -€412 | -100.0% |
| Financial charges | 65/66B | €9,069 | €24,694 | +€15,626 | +172.3% |
| Recurring financial charges | 65 | €9,069 | €24,694 | +€15,626 | +172.3% |
| Profit (loss) for the period before taxes | 9903 | -€13,270 | -€27,966 | -€14,696 | -110.7% |
| Profit (loss) for the period | 9904 | -€13,270 | -€27,966 | -€14,696 | -110.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,270 | -€27,966 | -€14,696 | -110.7% |
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 5 October 2026 via checked.be.