Immo Meeusen: 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 Meeusen
Largest movements
- Tangible fixed assets -€174,874
down €174,874 (-8.4%), from €2.1m to €1.9m
of which Land and buildings: -€116,447
- Cash +€48,066
up €48,066 (+149%), from €32,197 to €80,263
mainly Depreciation (+€174,874) and Net result for the year (+€22,663)
- Debts after one year -€140,492
down €140,492 (-23.6%), from €595,507 to €455,015
- Profit (loss) carried forward +€38,574
up €38,574 (+5.2%), from €738,736 to €777,311
No income-statement line moved by more than 1% of the activity.
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 | €2,286,698 | €2,164,521 | -€122,178 | -5.3% |
| Fixed assets | 21/28 | €2,093,743 | €1,918,869 | -€174,874 | -8.4% |
| Tangible fixed assets | 22/27 | €2,093,507 | €1,918,633 | -€174,874 | -8.4% |
| Land and buildings | 22 | €2,025,515 | €1,909,068 | -€116,447 | -5.7% |
| Other tangible fixed assets | 26 | €67,992 | €9,565 | -€58,427 | -85.9% |
| Financial fixed assets | 28 | €236 | €236 | = | 0.0% |
| Current assets | 29/58 | €192,956 | €245,652 | +€52,697 | +27.3% |
| Amounts receivable within one year | 40/41 | €8,975 | €13,543 | +€4,568 | +50.9% |
| Trade receivables | 40 | €3,128 | €7,628 | +€4,500 | +144% |
| Other amounts receivable | 41 | €5,847 | €5,915 | +€68 | +1.2% |
| Current investments | 50/53 | €150,000 | €150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €32,197 | €80,263 | +€48,066 | +149% |
| Deferred charges and accrued income | 490/1 | €1,784 | €1,846 | +€62 | +3.5% |
| Total equity and liabilities | 10/49 | €2,286,698 | €2,164,521 | -€122,178 | -5.3% |
| Equity | 10/15 | €1,099,901 | €1,122,564 | +€22,663 | +2.1% |
| Contributions | 10/11 | €32,226 | €32,226 | = | 0.0% |
| Reserves | 13 | €328,939 | €313,027 | -€15,912 | -4.8% |
| Tax-exempt reserves | 132 | €323,366 | €307,455 | -€15,912 | -4.9% |
| Distributable reserves | 133 | €5,573 | €5,573 | = | 0.0% |
| Profit (loss) carried forward | 14 | €738,736 | €777,311 | +€38,574 | +5.2% |
| Provisions and deferred taxes | 16 | €93,501 | €88,197 | -€5,304 | -5.7% |
| Deferred taxes | 168 | €93,501 | €88,197 | -€5,304 | -5.7% |
| Amounts payable | 17/49 | €1,093,296 | €953,760 | -€139,536 | -12.8% |
| Amounts payable after more than one year | 17 | €595,507 | €455,015 | -€140,492 | -23.6% |
| Financial debts | 170/4 | €595,507 | €455,015 | -€140,492 | -23.6% |
| Amounts payable within one year | 42/48 | €497,789 | €498,745 | +€956 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €139,548 | €140,492 | +€944 | +0.7% |
| Trade debts | 44 | €2,649 | €2,660 | +€11 | +0.4% |
| Suppliers | 440/4 | €2,649 | €2,660 | +€11 | +0.4% |
| Other amounts payable | 47/48 | €355,593 | €355,593 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €174,703 | €174,874 | +€171 | +0.1% |
| Other operating charges | 640/8 | €20,411 | €22,344 | +€1,933 | +9.5% |
| Gross operating margin | 9900 | €229,758 | €229,870 | +€112 | 0.0% |
| Operating profit (loss) | 9901 | €34,644 | €32,651 | -€1,993 | -5.8% |
| Financial income | 75/76B | €3,420 | €2,640 | -€780 | -22.8% |
| Recurring financial income | 75 | €3,420 | €2,640 | -€780 | -22.8% |
| Financial charges | 65/66B | €5,729 | €4,801 | -€928 | -16.2% |
| Recurring financial charges | 65 | €5,729 | €4,801 | -€928 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €32,335 | €30,491 | -€1,844 | -5.7% |
| Transfer from deferred taxes | 780 | €5,304 | €5,304 | = | 0.0% |
| Income taxes | 67/77 | €13,548 | €13,132 | -€416 | -3.1% |
| Profit (loss) for the period | 9904 | €24,091 | €22,663 | -€1,429 | -5.9% |
| Transfer from tax-exempt reserves | 789 | €15,912 | €15,912 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,003 | €38,574 | -€1,429 | -3.6% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.