IMMO MCB: 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.
What changed
IMMO MCB
NACE 68.110, Buying and selling of own real estate
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€237,969
2024 · -€180,616+€418,585
Equity
€67,864
2024 · €379,895-€312,031
Cash
€66,114
2024 · €51,157+€14,957
Balance sheet total
€7.0m
2024 · €8.0m-€1.0m
Largest movements
Assets
- Tangible fixed assets -€999,534
down €999,534 (-13.2%), from €7.5m to €6.6m
of which Land and buildings: -€953,667
Equity and liabilities
- Current portion of long-term debt -€609,403
down €609,403 (-58.2%), from €1.0m to €436,943
- Other debts +€543,950
up €543,950 (+64.1%), from €848,708 to €1.4m
- Debts after one year -€533,625
down €533,625 (-10.1%), from €5.3m to €4.7m
of which Financial debts: -€534,507
- Profit (loss) carried forward -€295,277
down €295,277 (-92.1%), from €320,481 to €25,204
- Trade debts -€146,743
down €146,743 (-35.9%), from €408,400 to €261,657
Income statement
- Gross operating margin +€377,921
up €377,921 (+96.6%), from €391,055 to €768,976
- Depreciation -€36,800
down €36,800 (-11.9%), from €309,863 to €273,063
- Other operating charges +€17,521
up €17,521 (+46.7%), from €37,482 to €55,003
- Taxes +€14,427
up €14,427 (+91.1%), from €15,845 to €30,272
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.
Result 2024
-€180,616
Gross operating margin
+€377,921
Staff costs
+€1,121
Depreciation
+€36,800
Other operating charges
-€17,521
Other operating items
+€25,715
Financial income
-€340
Financial charges
+€2,776
Taxes
-€14,427
Deferred taxes and other
+€6,540
Result 2025
€237,969
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.
From operations
+€981,515
Investment
+€726,471
Financing
-€1.7m
Cash 2024
€51,157
From operations (derived)
+€981,515
Net result for the year
+€237,969
Depreciation
+€273,063
Receivables within one year
+€67,936
Deferred charges and accrued income
-€4,800
Provisions
-€7,984
Trade debts
-€146,743
Tax, wage and social debts
+€38,105
Other debts
+€543,950
Accrued charges and deferred income
-€19,981
Investment (derived)
+€726,471
Investment in fixed assets (net)
+€726,471
Financing
-€1.7m
Debts after one year
-€533,625
Current portion of long-term debt
-€609,403
Contributions, distributions and other
-€550,000
Cash 2025
€66,114
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,023,335 | €6,975,623 | -€1.0m | -13.1% |
| Fixed assets | 21/28 | €7,552,326 | €6,552,792 | -€999,534 | -13.2% |
| Tangible fixed assets | 22/27 | €7,549,826 | €6,550,292 | -€999,534 | -13.2% |
| Land and buildings | 22 | €6,496,823 | €5,543,156 | -€953,667 | -14.7% |
| Plant, machinery and equipment | 23 | €1,030,146 | €981,118 | -€49,028 | -4.8% |
| Furniture and vehicles | 24 | €22,857 | €26,018 | +€3,161 | +13.8% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €471,009 | €422,831 | -€48,179 | -10.2% |
| Amounts receivable within one year | 40/41 | €419,547 | €351,611 | -€67,936 | -16.2% |
| Trade receivables | 40 | €419,472 | €351,611 | -€67,860 | -16.2% |
| Other amounts receivable | 41 | €75 | - | -€75 | |
| Cash at bank and in hand | 54/58 | €51,157 | €66,114 | +€14,957 | +29.2% |
| Deferred charges and accrued income | 490/1 | €306 | €5,105 | +€4,800 | +1570.4% |
| Total equity and liabilities | 10/49 | €8,023,335 | €6,975,623 | -€1.0m | -13.1% |
| Equity | 10/15 | €379,895 | €67,864 | -€312,031 | -82.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €34,414 | €17,660 | -€16,754 | -48.7% |
| Non-distributable reserves | 130/1 | €2,766 | €2,766 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,766 | €2,766 | = | 0.0% |
| Tax-exempt reserves | 132 | €31,648 | €14,894 | -€16,754 | -52.9% |
| Profit (loss) carried forward | 14 | €320,481 | €25,204 | -€295,277 | -92.1% |
| Provisions and deferred taxes | 16 | €9,421 | €1,436 | -€7,984 | -84.8% |
| Deferred taxes | 168 | €9,421 | €1,436 | -€7,984 | -84.8% |
| Amounts payable | 17/49 | €7,634,020 | €6,906,323 | -€727,697 | -9.5% |
| Amounts payable after more than one year | 17 | €5,277,652 | €4,744,027 | -€533,625 | -10.1% |
| Financial debts | 170/4 | €5,254,575 | €4,720,068 | -€534,507 | -10.2% |
| Other amounts payable | 178/9 | €23,077 | €23,959 | +€882 | +3.8% |
| Amounts payable within one year | 42/48 | €2,328,440 | €2,154,349 | -€174,091 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €1,046,346 | €436,943 | -€609,403 | -58.2% |
| Trade debts | 44 | €408,400 | €261,657 | -€146,743 | -35.9% |
| Suppliers | 440/4 | €408,400 | €261,657 | -€146,743 | -35.9% |
| Taxes, remuneration and social security | 45 | €24,986 | €63,091 | +€38,105 | +152.5% |
| Taxes | 450/3 | €24,986 | €63,091 | +€38,105 | +152.5% |
| Other amounts payable | 47/48 | €848,708 | €1,392,658 | +€543,950 | +64.1% |
| Accrued charges and deferred income | 492/3 | €27,927 | €7,946 | -€19,981 | -71.5% |
| Non-recurring operating income | 76A | €13,639 | €300,635 | +€286,996 | +2104.2% |
| Remuneration, social security and pensions | 62 | €1,345 | €225 | -€1,121 | -83.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €309,863 | €273,063 | -€36,800 | -11.9% |
| Other operating charges | 640/8 | €37,482 | €55,003 | +€17,521 | +46.7% |
| Non-recurring operating charges | 66A | €25,715 | - | -€25,715 | |
| Gross operating margin | 9900 | €391,055 | €768,976 | +€377,921 | +96.6% |
| Operating profit (loss) | 9901 | €16,649 | €440,685 | +€424,036 | +2546.8% |
| Financial income | 75/76B | €418 | €78 | -€340 | -81.3% |
| Recurring financial income | 75 | €418 | €78 | -€340 | -81.3% |
| Financial charges | 65/66B | €183,283 | €180,507 | -€2,776 | -1.5% |
| Recurring financial charges | 65 | €183,283 | €180,507 | -€2,776 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | -€166,216 | €260,257 | +€426,472 | |
| Transfer from deferred taxes | 780 | €1,444 | €7,984 | +€6,540 | +452.9% |
| Income taxes | 67/77 | €15,845 | €30,272 | +€14,427 | +91.1% |
| Profit (loss) for the period | 9904 | -€180,616 | €237,969 | +€418,585 | |
| Transfer from tax-exempt reserves | 789 | €4,052 | €16,754 | +€12,702 | +313.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€176,564 | €254,723 | +€431,287 |
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 10 October 2026 via checked.be.