Immo MDP: 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.
What changed
Immo MDP
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€20,406
2024 · €70,491-€50,085
Equity
€207,385
2024 · €206,979+€406
Cash
€36,379
2024 · €10,832+€25,547
Balance sheet total
€1.2m
2024 · €1.2m-€13,449
Largest movements
Assets
- Tangible fixed assets -€32,732
down €32,732 (-2.8%), from €1.2m to €1.1m
- Cash +€25,547
up €25,547 (+235.8%), from €10,832 to €36,379
mainly Trade debts (+€110,142) and Depreciation (+€35,949)
Equity and liabilities
- Trade debts +€110,142
up €110,142 (+155.7%), from €70,738 to €180,880
- Debts after one year -€74,217
down €74,217 (-9.6%), from €770,487 to €696,270
- Other debts -€50,000
down €50,000 (-71.4%), from €70,000 to €20,000
Income statement
- Gross operating margin -€50,968
down €50,968 (-40.1%), from €127,191 to €76,223
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
€70,491
Gross operating margin
-€50,968
Depreciation
-€127
Other operating charges
-€68
Financial income
-€0
Financial charges
+€955
Taxes
+€124
Result 2025
€20,406
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
+€121,953
Investment
-€3,217
Financing
-€93,189
Cash 2024
€10,832
From operations (derived)
+€121,953
Net result for the year
+€20,406
Depreciation
+€35,949
Receivables within one year
+€2,178
Deferred charges and accrued income
+€4,086
Trade debts
+€110,142
Tax, wage and social debts
-€725
Other debts
-€50,000
Accrued charges and deferred income
-€82
Investment (derived)
-€3,217
Investment in fixed assets (net)
-€3,217
Financing
-€93,189
Debts after one year
-€74,217
Current portion of long-term debt
+€1,028
Contributions, distributions and other
-€20,000
Cash 2025
€36,379
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,198,875 | €1,185,427 | -€13,449 | -1.1% |
| Fixed assets | 21/28 | €1,181,215 | €1,148,483 | -€32,732 | -2.8% |
| Tangible fixed assets | 22/27 | €1,181,215 | €1,148,483 | -€32,732 | -2.8% |
| Land and buildings | 22 | €1,181,215 | €1,148,483 | -€32,732 | -2.8% |
| Current assets | 29/58 | €17,660 | €36,944 | +€19,283 | +109.2% |
| Amounts receivable within one year | 40/41 | €2,178 | €0 | -€2,178 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,178 | €0 | -€2,178 | -100.0% |
| Cash at bank and in hand | 54/58 | €10,832 | €36,379 | +€25,547 | +235.8% |
| Deferred charges and accrued income | 490/1 | €4,650 | €565 | -€4,086 | -87.9% |
| Total equity and liabilities | 10/49 | €1,198,875 | €1,185,427 | -€13,449 | -1.1% |
| Equity | 10/15 | €206,979 | €207,385 | +€406 | +0.2% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €131,979 | €132,385 | +€406 | +0.3% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €124,479 | €124,885 | +€406 | +0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €991,897 | €978,042 | -€13,855 | -1.4% |
| Amounts payable after more than one year | 17 | €770,487 | €696,270 | -€74,217 | -9.6% |
| Financial debts | 170/4 | €770,487 | €696,270 | -€74,217 | -9.6% |
| Amounts payable within one year | 42/48 | €220,426 | €280,871 | +€60,445 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €78,471 | €79,499 | +€1,028 | +1.3% |
| Trade debts | 44 | €70,738 | €180,880 | +€110,142 | +155.7% |
| Suppliers | 440/4 | €70,738 | €180,880 | +€110,142 | +155.7% |
| Taxes, remuneration and social security | 45 | €1,218 | €492 | -€725 | -59.6% |
| Taxes | 450/3 | €1,218 | €492 | -€725 | -59.6% |
| Other amounts payable | 47/48 | €70,000 | €20,000 | -€50,000 | -71.4% |
| Accrued charges and deferred income | 492/3 | €983 | €901 | -€82 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,821 | €35,949 | +€127 | +0.4% |
| Other operating charges | 640/8 | €8,486 | €8,554 | +€68 | +0.8% |
| Gross operating margin | 9900 | €127,191 | €76,223 | -€50,968 | -40.1% |
| Operating profit (loss) | 9901 | €82,884 | €31,720 | -€51,164 | -61.7% |
| Financial income | 75/76B | €1 | €1 | -€0 | -29.7% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -29.7% |
| Financial charges | 65/66B | €12,279 | €11,324 | -€955 | -7.8% |
| Recurring financial charges | 65 | €12,279 | €11,324 | -€955 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €70,606 | €20,397 | -€50,209 | -71.1% |
| Income taxes | 67/77 | €115 | -€9 | -€124 | |
| Profit (loss) for the period | 9904 | €70,491 | €20,406 | -€50,085 | -71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €70,491 | €20,406 | -€50,085 | -71.1% |
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.