IMMO MERU: 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 MERU
Largest movements
- Cash -€271,208
down €271,208 (-73.7%), from €367,943 to €96,734
mainly Investment in fixed assets (net) (-€325,693) and Net result for the year (-€69,776)
- Tangible fixed assets +€260,123
up €260,123 (+92.7%), from €280,538 to €540,661
- Reserves -€112,762
down €112,762 (-21.2%), from €532,942 to €420,180
of which Distributable reserves: -€110,455
- Debts after one year +€50,000
up €50,000 (+65.1%), from €76,840 to €126,840
of which Financial debts: +€50,000
- Profit (loss) carried forward +€42,987
no longer reported in 2025 (was -€42,987)
- Other debts +€7,976
new in 2025: €7,976
- Gross operating margin -€408,110
down €408,110, from €394,550 to -€13,560
- Taxes -€40,062
down €40,062 (-99.0%), from €40,469 to €408
- Financial charges -€11,239
no longer reported in 2025 (was €11,239)
- Depreciation +€8,177
up €8,177 (+14.2%), from €57,392 to €65,569
- Financial income +€5,372
up €5,372 (+111.9%), from €4,802 to €10,174
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 | €698,616 | €686,047 | -€12,569 | -1.8% |
| Fixed assets | 21/28 | €325,538 | €585,661 | +€260,123 | +79.9% |
| Tangible fixed assets | 22/27 | €280,538 | €540,661 | +€260,123 | +92.7% |
| Land and buildings | 22 | €280,538 | €540,661 | +€260,123 | +92.7% |
| Financial fixed assets | 28 | €45,000 | €45,000 | = | 0.0% |
| Current assets | 29/58 | €373,079 | €100,386 | -€272,692 | -73.1% |
| Amounts receivable within one year | 40/41 | €5,136 | €3,652 | -€1,484 | -28.9% |
| Other amounts receivable | 41 | €5,136 | €3,652 | -€1,484 | -28.9% |
| Cash at bank and in hand | 54/58 | €367,943 | €96,734 | -€271,208 | -73.7% |
| Total equity and liabilities | 10/49 | €698,616 | €686,047 | -€12,569 | -1.8% |
| Equity | 10/15 | €508,555 | €438,780 | -€69,776 | -13.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €532,942 | €420,180 | -€112,762 | -21.2% |
| Tax-exempt reserves | 132 | €365,124 | €362,816 | -€2,308 | -0.6% |
| Distributable reserves | 133 | €167,819 | €57,364 | -€110,455 | -65.8% |
| Profit (loss) carried forward | 14 | -€42,987 | - | +€42,987 | |
| Provisions and deferred taxes | 16 | €113,221 | €112,452 | -€769 | -0.7% |
| Deferred taxes | 168 | €113,221 | €112,452 | -€769 | -0.7% |
| Amounts payable | 17/49 | €76,840 | €134,816 | +€57,976 | +75.5% |
| Amounts payable after more than one year | 17 | €76,840 | €126,840 | +€50,000 | +65.1% |
| Financial debts | 170/4 | - | €50,000 | +€50,000 | |
| Other amounts payable | 178/9 | €76,840 | €76,840 | = | 0.0% |
| Amounts payable within one year | 42/48 | - | €7,976 | +€7,976 | |
| Other amounts payable | 47/48 | - | €7,976 | +€7,976 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,392 | €65,569 | +€8,177 | +14.2% |
| Other operating charges | 640/8 | €5,030 | €1,181 | -€3,849 | -76.5% |
| Gross operating margin | 9900 | €394,550 | -€13,560 | -€408,110 | |
| Operating profit (loss) | 9901 | €332,128 | -€80,311 | -€412,439 | |
| Financial income | 75/76B | €4,802 | €10,174 | +€5,372 | +111.9% |
| Recurring financial income | 75 | €4,802 | €10,174 | +€5,372 | +111.9% |
| Financial charges | 65/66B | €11,239 | - | -€11,239 | |
| Recurring financial charges | 65 | €11,239 | - | -€11,239 | |
| Profit (loss) for the period before taxes | 9903 | €325,691 | -€70,137 | -€395,829 | |
| Transfer from deferred taxes | 780 | €105,355 | €769 | -€104,586 | -99.3% |
| Transfer to deferred taxes | 680 | €113,356 | - | -€113,356 | |
| Income taxes | 67/77 | €40,469 | €408 | -€40,062 | -99.0% |
| Profit (loss) for the period | 9904 | €277,221 | -€69,776 | -€346,997 | |
| Transfer from tax-exempt reserves | 789 | €204,771 | €2,308 | -€202,463 | -98.9% |
| Transfer to tax-exempt reserves | 689 | €340,068 | - | -€340,068 | |
| Profit (loss) for the period to be appropriated | 9905 | €141,924 | -€67,468 | -€209,392 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.