Immo MGJ: 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.
What changed
Immo MGJ
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€210,111
2024 · €169,570+€40,541
Equity
€3.1m
2024 · €2.9m+€210,111
Cash
€84,163
2024 · €65,106+€19,058
Balance sheet total
€3.8m
2024 · €3.3m+€491,610
Largest movements
Assets
- Tangible fixed assets +€305,631
up €305,631 (+26.0%), from €1.2m to €1.5m
of which Land and buildings: +€318,320
- Current investments +€199,166
up €199,166 (+9.9%), from €2.0m to €2.2m
Equity and liabilities
- Short-term financial debts +€300,000
new in 2025: €300,000
- Reserves +€210,111
up €210,111 (+13.7%), from €1.5m to €1.7m
of which Distributable reserves: +€210,111
Income statement
- Financial income +€48,512
up €48,512 (+30.6%), from €158,447 to €206,960
- Taxes +€23,408
up €23,408 (+75.2%), from €31,140 to €54,548
- Gross operating margin +€15,489
up €15,489 (+12.9%), from €119,960 to €135,449
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.
Result 2024
€169,570
Gross operating margin
+€15,489
Depreciation
-€606
Other operating charges
+€451
Financial income
+€48,512
Financial charges
+€102
Taxes
-€23,408
Result 2025
€210,111
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.
From operations
+€317,994
Investment
-€562,631
Financing
+€263,695
Cash 2024
€65,106
From operations (derived)
+€317,994
Net result for the year
+€210,111
Depreciation
+€57,835
Receivables within one year
+€32,583
Smaller working-capital items
-€412
Tax, wage and social debts
+€17,526
Other debts
-€1,554
Accrued charges and deferred income
+€1,904
Investment (derived)
-€562,631
Investment in fixed assets (net)
-€363,465
Current investments
-€199,166
Financing
+€263,695
Debts after one year
-€28,222
Current portion of long-term debt
-€8,083
Short-term financial debts
+€300,000
Cash 2025
€84,163
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,286,594 | €3,778,204 | +€491,610 | +15.0% |
| Fixed assets | 21/28 | €1,173,468 | €1,479,098 | +€305,631 | +26.0% |
| Tangible fixed assets | 22/27 | €1,173,412 | €1,479,042 | +€305,631 | +26.0% |
| Land and buildings | 22 | €1,126,788 | €1,445,109 | +€318,320 | +28.3% |
| Plant, machinery and equipment | 23 | €6,051 | €4,270 | -€1,782 | -29.4% |
| Furniture and vehicles | 24 | €40,572 | €29,664 | -€10,908 | -26.9% |
| Financial fixed assets | 28 | €56 | €56 | = | 0.0% |
| Current assets | 29/58 | €2,113,126 | €2,299,105 | +€185,979 | +8.8% |
| Amounts receivable within one year | 40/41 | €32,583 | - | -€32,583 | |
| Trade receivables | 40 | €9,680 | - | -€9,680 | |
| Other amounts receivable | 41 | €22,903 | - | -€22,903 | |
| Current investments | 50/53 | €2,012,585 | €2,211,751 | +€199,166 | +9.9% |
| Cash at bank and in hand | 54/58 | €65,106 | €84,163 | +€19,058 | +29.3% |
| Deferred charges and accrued income | 490/1 | €2,852 | €3,191 | +€339 | +11.9% |
| Total equity and liabilities | 10/49 | €3,286,594 | €3,778,204 | +€491,610 | +15.0% |
| Equity | 10/15 | €2,860,653 | €3,070,764 | +€210,111 | +7.3% |
| Contributions | 10/11 | €1,326,239 | €1,326,239 | = | 0.0% |
| Reserves | 13 | €1,534,414 | €1,744,525 | +€210,111 | +13.7% |
| Non-distributable reserves | 130/1 | €37,930 | €37,930 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,570 | €19,570 | = | 0.0% |
| Own shares acquired | 1312 | €18,360 | €18,360 | = | 0.0% |
| Distributable reserves | 133 | €1,496,484 | €1,706,595 | +€210,111 | +14.0% |
| Amounts payable | 17/49 | €425,942 | €707,440 | +€281,499 | +66.1% |
| Amounts payable after more than one year | 17 | €52,644 | €24,421 | -€28,222 | -53.6% |
| Financial debts | 170/4 | €52,644 | €24,421 | -€28,222 | -53.6% |
| Amounts payable within one year | 42/48 | €369,432 | €677,249 | +€307,817 | +83.3% |
| Current portion of amounts payable after more than one year | 42 | €38,605 | €30,522 | -€8,083 | -20.9% |
| Financial debts | 43 | - | €300,000 | +€300,000 | |
| Credit institutions | 430/8 | - | €300,000 | +€300,000 | |
| Trade debts | 44 | €10,254 | €10,181 | -€73 | -0.7% |
| Suppliers | 440/4 | €10,254 | €10,181 | -€73 | -0.7% |
| Taxes, remuneration and social security | 45 | €7,294 | €24,821 | +€17,526 | +240.3% |
| Taxes | 450/3 | €6,981 | €24,750 | +€17,769 | +254.5% |
| Remuneration and social security | 454/9 | €313 | €70 | -€243 | -77.5% |
| Other amounts payable | 47/48 | €313,279 | €311,725 | -€1,554 | -0.5% |
| Accrued charges and deferred income | 492/3 | €3,866 | €5,770 | +€1,904 | +49.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,229 | €57,835 | +€606 | +1.1% |
| Other operating charges | 640/8 | €7,805 | €7,355 | -€451 | -5.8% |
| Gross operating margin | 9900 | €119,960 | €135,449 | +€15,489 | +12.9% |
| Operating profit (loss) | 9901 | €54,926 | €70,260 | +€15,334 | +27.9% |
| Financial income | 75/76B | €158,447 | €206,960 | +€48,512 | +30.6% |
| Recurring financial income | 75 | €158,447 | €206,960 | +€48,512 | +30.6% |
| Financial charges | 65/66B | €12,663 | €12,561 | -€102 | -0.8% |
| Recurring financial charges | 65 | €12,663 | €12,561 | -€102 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €200,710 | €264,659 | +€63,948 | +31.9% |
| Income taxes | 67/77 | €31,140 | €54,548 | +€23,408 | +75.2% |
| Profit (loss) for the period | 9904 | €169,570 | €210,111 | +€40,541 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €169,570 | €210,111 | +€40,541 | +23.9% |
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 7 October 2026 via checked.be.