IMMO MENARA: 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 MENARA
Largest movements
- Cash +€22,099
up €22,099 (+12.6%), from €175,503 to €197,602
mainly Depreciation (+€70,309) and Net result for the year (+€32,545)
- Reserves +€35,000
up €35,000 (+6.2%), from €563,322 to €598,322
of which Distributable reserves: +€35,000
- Depreciation +€7,197
up €7,197 (+11.4%), from €63,112 to €70,309
- Taxes -€4,643
down €4,643 (-41.1%), from €11,297 to €6,654
- Gross operating margin -€3,075
down €3,075 (-2.5%), from €124,396 to €121,321
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 | €2,034,240 | €2,071,239 | +€36,999 | +1.8% |
| Fixed assets | 21/28 | €1,818,592 | €1,817,362 | -€1,231 | -0.1% |
| Tangible fixed assets | 22/27 | €1,818,592 | €1,817,362 | -€1,231 | -0.1% |
| Land and buildings | 22 | €1,816,330 | €1,813,040 | -€3,290 | -0.2% |
| Plant, machinery and equipment | 23 | €2,263 | €4,322 | +€2,059 | +91.0% |
| Current assets | 29/58 | €215,648 | €253,878 | +€38,230 | +17.7% |
| Amounts receivable within one year | 40/41 | €40,145 | €56,276 | +€16,131 | +40.2% |
| Trade receivables | 40 | €6,278 | €9,063 | +€2,785 | +44.4% |
| Other amounts receivable | 41 | €33,867 | €47,213 | +€13,346 | +39.4% |
| Cash at bank and in hand | 54/58 | €175,503 | €197,602 | +€22,099 | +12.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,034,240 | €2,071,239 | +€36,999 | +1.8% |
| Equity | 10/15 | €2,017,933 | €2,050,479 | +€32,545 | +1.6% |
| Contributions | 10/11 | €1,452,011 | €1,452,011 | = | 0.0% |
| Capital | 10 | €1,452,011 | €1,452,011 | = | 0.0% |
| Issued capital | 100 | €1,452,011 | €1,452,011 | = | 0.0% |
| Reserves | 13 | €563,322 | €598,322 | +€35,000 | +6.2% |
| Non-distributable reserves | 130/1 | €33,322 | €33,322 | = | 0.0% |
| Legal reserve | 130 | €33,322 | €33,322 | = | 0.0% |
| Distributable reserves | 133 | €530,000 | €565,000 | +€35,000 | +6.6% |
| Profit (loss) carried forward | 14 | €2,600 | €146 | -€2,455 | -94.4% |
| Amounts payable | 17/49 | €16,307 | €20,760 | +€4,454 | +27.3% |
| Amounts payable within one year | 42/48 | €16,307 | €20,760 | +€4,454 | +27.3% |
| Trade debts | 44 | €9,534 | €11,256 | +€1,722 | +18.1% |
| Suppliers | 440/4 | €9,534 | €11,256 | +€1,722 | +18.1% |
| Taxes, remuneration and social security | 45 | €6,023 | €8,755 | +€2,732 | +45.4% |
| Taxes | 450/3 | €6,023 | €8,755 | +€2,732 | +45.4% |
| Other amounts payable | 47/48 | €749 | €749 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,112 | €70,309 | +€7,197 | +11.4% |
| Other operating charges | 640/8 | €10,665 | €11,786 | +€1,121 | +10.5% |
| Gross operating margin | 9900 | €124,396 | €121,321 | -€3,075 | -2.5% |
| Operating profit (loss) | 9901 | €50,619 | €39,226 | -€11,393 | -22.5% |
| Financial income | 75/76B | €16 | €0 | -€16 | -100.0% |
| Recurring financial income | 75 | €16 | €0 | -€16 | -100.0% |
| Financial charges | 65/66B | €46 | €26 | -€20 | -43.5% |
| Recurring financial charges | 65 | €46 | €26 | -€20 | -43.5% |
| Profit (loss) for the period before taxes | 9903 | €50,590 | €39,200 | -€11,390 | -22.5% |
| Income taxes | 67/77 | €11,297 | €6,654 | -€4,643 | -41.1% |
| Profit (loss) for the period | 9904 | €39,292 | €32,545 | -€6,747 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €39,292 | €32,545 | -€6,747 | -17.2% |
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 3 October 2026 via checked.be.