IMMO MGDis: 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 MGDis
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+135%), from €941,662 to €2.2m
of which Land and buildings: +€1.3m
- Cash -€385,963
down €385,963 (-60.7%), from €635,346 to €249,383
mainly Investment in fixed assets (net) (-€1.4m) and Net result for the year (-€57,217)
- Debts after one year +€618,220
up €618,220 (+149%), from €414,046 to €1.0m
- Other debts +€250,167
up €250,167 (+250%), from €100,000 to €350,167
- Current portion of long-term debt +€57,260
up €57,260 (+143%), from €40,010 to €97,270
- Profit (loss) carried forward -€43,009
down €43,009 (-4.6%), from €942,168 to €899,159
- Other operating charges +€188,665
up €188,665 (+12,511%), from €1,508 to €190,173
- Depreciation +€38,347
up €38,347 (+77.1%), from €49,733 to €88,080
- Gross operating margin +€33,368
up €33,368 (+26.3%), from €127,008 to €160,376
- Financial income -€15,980
down €15,980 (-12.3%), from €130,088 to €114,108
- Taxes -€13,623
down €13,623, from €11,831 to -€1,792
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,917,334 | €2,784,047 | +€866,713 | +45.2% |
| Fixed assets | 21/28 | €1,238,687 | €2,510,439 | +€1.3m | +103% |
| Tangible fixed assets | 22/27 | €941,662 | €2,213,414 | +€1.3m | +135% |
| Land and buildings | 22 | €935,742 | €2,211,132 | +€1.3m | +136% |
| Furniture and vehicles | 24 | €5,920 | €2,282 | -€3,638 | -61.5% |
| Financial fixed assets | 28 | €297,025 | €297,025 | = | 0.0% |
| Current assets | 29/58 | €678,647 | €273,608 | -€405,039 | -59.7% |
| Amounts receivable within one year | 40/41 | €43,301 | €24,225 | -€19,076 | -44.1% |
| Trade receivables | 40 | - | €21,644 | +€21,644 | |
| Other amounts receivable | 41 | €43,301 | €2,581 | -€40,720 | -94.0% |
| Cash at bank and in hand | 54/58 | €635,346 | €249,383 | -€385,963 | -60.7% |
| Total equity and liabilities | 10/49 | €1,917,334 | €2,784,047 | +€866,713 | +45.2% |
| Equity | 10/15 | €1,269,299 | €1,212,082 | -€57,217 | -4.5% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €264,131 | €249,923 | -€14,208 | -5.4% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €222,926 | €208,718 | -€14,208 | -6.4% |
| Distributable reserves | 133 | €34,905 | €34,905 | = | 0.0% |
| Profit (loss) carried forward | 14 | €942,168 | €899,159 | -€43,009 | -4.6% |
| Provisions and deferred taxes | 16 | €83,414 | €78,097 | -€5,317 | -6.4% |
| Deferred taxes | 168 | €83,414 | €78,097 | -€5,317 | -6.4% |
| Amounts payable | 17/49 | €564,621 | €1,493,868 | +€929,247 | +165% |
| Amounts payable after more than one year | 17 | €414,046 | €1,032,266 | +€618,220 | +149% |
| Financial debts | 170/4 | €414,046 | €1,032,266 | +€618,220 | +149% |
| Amounts payable within one year | 42/48 | €150,575 | €461,602 | +€311,027 | +207% |
| Current portion of amounts payable after more than one year | 42 | €40,010 | €97,270 | +€57,260 | +143% |
| Trade debts | 44 | €4,203 | €4,211 | +€8 | +0.2% |
| Suppliers | 440/4 | €4,203 | €4,211 | +€8 | +0.2% |
| Taxes, remuneration and social security | 45 | €6,362 | €9,954 | +€3,592 | +56.5% |
| Taxes | 450/3 | €6,362 | €9,954 | +€3,592 | +56.5% |
| Other amounts payable | 47/48 | €100,000 | €350,167 | +€250,167 | +250% |
| Remuneration, social security and pensions | 62 | €42,689 | €42,534 | -€155 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,733 | €88,080 | +€38,347 | +77.1% |
| Other operating charges | 640/8 | €1,508 | €190,173 | +€188,665 | +12,511% |
| Gross operating margin | 9900 | €127,008 | €160,376 | +€33,368 | +26.3% |
| Operating profit (loss) | 9901 | €33,078 | -€160,411 | -€193,489 | |
| Financial income | 75/76B | €130,088 | €114,108 | -€15,980 | -12.3% |
| Recurring financial income | 75 | €130,088 | €114,108 | -€15,980 | -12.3% |
| Financial charges | 65/66B | €4,713 | €18,022 | +€13,309 | +282% |
| Recurring financial charges | 65 | €4,713 | €18,022 | +€13,309 | +282% |
| Profit (loss) for the period before taxes | 9903 | €158,453 | -€64,325 | -€222,778 | |
| Transfer from deferred taxes | 780 | €5,316 | €5,316 | = | 0.0% |
| Income taxes | 67/77 | €11,831 | -€1,792 | -€13,623 | |
| Profit (loss) for the period | 9904 | €151,938 | -€57,217 | -€209,155 | |
| Transfer from tax-exempt reserves | 789 | €14,208 | €14,208 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €166,146 | -€43,009 | -€209,155 |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.