IMMO MENENDEZ: 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 MENENDEZ
Largest movements
- Cash -€290,904
down €290,904 (-47.9%), from €607,631 to €316,727
mainly Receivables within one year (-€193,391) and Other debts (-€111,230)
- Receivables within one year +€193,391
up €193,391 (+246%), from €78,492 to €271,883
of which Other amounts receivable: +€211,284
- Other debts -€111,230
down €111,230 (-67.3%), from €165,255 to €54,025
- Profit (loss) carried forward +€45,883
up €45,883 (+10.3%), from €445,271 to €491,154
- Debts after one year -€40,620
down €40,620 (-29.7%), from €136,768 to €96,149
- Trade debts -€14,842
down €14,842 (-46.9%), from €31,666 to €16,824
- Tax, wage and social debts +€12,064
up €12,064 (+447%), from €2,701 to €14,765
- Other operating charges -€58,329
down €58,329 (-79.0%), from €73,823 to €15,494
- Gross operating margin -€24,060
down €24,060 (-17.5%), from €137,650 to €113,589
- Taxes +€14,586
up €14,586, from -€2,523 to €12,064
- Depreciation -€9,714
down €9,714 (-19.0%), from €51,171 to €41,456
- Financial income +€3,286
new in 2025: €3,286
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 | €1,049,947 | €941,202 | -€108,745 | -10.4% |
| Fixed assets | 21/28 | €357,260 | €349,408 | -€7,852 | -2.2% |
| Tangible fixed assets | 22/27 | €357,260 | €349,408 | -€7,852 | -2.2% |
| Land and buildings | 22 | €357,260 | €349,408 | -€7,852 | -2.2% |
| Current assets | 29/58 | €692,687 | €591,794 | -€100,893 | -14.6% |
| Amounts receivable within one year | 40/41 | €78,492 | €271,883 | +€193,391 | +246% |
| Trade receivables | 40 | €30,497 | €12,603 | -€17,894 | -58.7% |
| Other amounts receivable | 41 | €47,995 | €259,280 | +€211,284 | +440% |
| Cash at bank and in hand | 54/58 | €607,631 | €316,727 | -€290,904 | -47.9% |
| Deferred charges and accrued income | 490/1 | €6,564 | €3,184 | -€3,380 | -51.5% |
| Total equity and liabilities | 10/49 | €1,049,947 | €941,202 | -€108,745 | -10.4% |
| Equity | 10/15 | €672,937 | €718,820 | +€45,883 | +6.8% |
| Contributions | 10/11 | €26,252 | €26,252 | = | 0.0% |
| Reserves | 13 | €201,414 | €201,414 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,625 | €2,625 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,625 | €2,625 | = | 0.0% |
| Distributable reserves | 133 | €198,789 | €198,789 | = | 0.0% |
| Profit (loss) carried forward | 14 | €445,271 | €491,154 | +€45,883 | +10.3% |
| Amounts payable | 17/49 | €377,010 | €222,382 | -€154,628 | -41.0% |
| Amounts payable after more than one year | 17 | €136,768 | €96,149 | -€40,620 | -29.7% |
| Financial debts | 170/4 | €136,768 | €96,149 | -€40,620 | -29.7% |
| Amounts payable within one year | 42/48 | €240,242 | €126,233 | -€114,008 | -47.5% |
| Current portion of amounts payable after more than one year | 42 | €40,620 | €40,620 | = | 0.0% |
| Trade debts | 44 | €31,666 | €16,824 | -€14,842 | -46.9% |
| Suppliers | 440/4 | €31,666 | €16,824 | -€14,842 | -46.9% |
| Taxes, remuneration and social security | 45 | €2,701 | €14,765 | +€12,064 | +447% |
| Taxes | 450/3 | €2,701 | €14,765 | +€12,064 | +447% |
| Other amounts payable | 47/48 | €165,255 | €54,025 | -€111,230 | -67.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,171 | €41,456 | -€9,714 | -19.0% |
| Other operating charges | 640/8 | €73,823 | €15,494 | -€58,329 | -79.0% |
| Gross operating margin | 9900 | €137,650 | €113,589 | -€24,060 | -17.5% |
| Operating profit (loss) | 9901 | €12,656 | €56,639 | +€43,983 | +348% |
| Financial income | 75/76B | - | €3,286 | +€3,286 | |
| Recurring financial income | 75 | - | €3,286 | +€3,286 | |
| Financial charges | 65/66B | €2,389 | €1,978 | -€411 | -17.2% |
| Recurring financial charges | 65 | €2,389 | €1,978 | -€411 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €10,267 | €57,947 | +€47,680 | +464% |
| Income taxes | 67/77 | -€2,523 | €12,064 | +€14,586 | |
| Profit (loss) for the period | 9904 | €12,789 | €45,883 | +€33,094 | +259% |
| Profit (loss) for the period to be appropriated | 9905 | €12,789 | €45,883 | +€33,094 | +259% |
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 26 October 2026 via checked.be.