IMMO MGN: 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 MGN
Largest movements
- Stocks and contracts +€645,995
up €645,995 (+120.2%), from €537,314 to €1.2m
- Current investments -€310,106
down €310,106 (-46.3%), from €670,000 to €359,894
- Tangible fixed assets -€221,975
down €221,975 (-4.7%), from €4.7m to €4.5m
of which Land and buildings: -€168,098
- Debts after one year +€1.3m
up €1.3m (+166.9%), from €752,208 to €2.0m
of which Other amounts payable: +€1.5m
- Other debts -€1.1m
no longer reported in 2025 (was €1.1m)
- Trade debts +€87,093
up €87,093 (+457.0%), from €19,057 to €106,151
- Other operating charges -€56,859
down €56,859 (-58.2%), from €97,770 to €40,911
- Gross operating margin -€48,544
down €48,544 (-14.1%), from €343,156 to €294,613
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 | €5,927,755 | €6,055,218 | +€127,464 | +2.2% |
| Fixed assets | 21/28 | €4,682,898 | €4,460,922 | -€221,975 | -4.7% |
| Tangible fixed assets | 22/27 | €4,682,898 | €4,460,922 | -€221,975 | -4.7% |
| Land and buildings | 22 | €4,515,412 | €4,347,314 | -€168,098 | -3.7% |
| Plant, machinery and equipment | 23 | €88,240 | €59,345 | -€28,896 | -32.7% |
| Furniture and vehicles | 24 | €79,246 | €54,264 | -€24,982 | -31.5% |
| Current assets | 29/58 | €1,244,857 | €1,594,296 | +€349,439 | +28.1% |
| Stocks and contracts in progress | 3 | €537,314 | €1,183,309 | +€645,995 | +120.2% |
| Stocks | 30/36 | €537,314 | €1,183,309 | +€645,995 | +120.2% |
| Amounts receivable within one year | 40/41 | €5,030 | €6,617 | +€1,587 | +31.5% |
| Trade receivables | 40 | €4,945 | €6,531 | +€1,586 | +32.1% |
| Other amounts receivable | 41 | €85 | €85 | +€0 | +0.5% |
| Current investments | 50/53 | €670,000 | €359,894 | -€310,106 | -46.3% |
| Cash at bank and in hand | 54/58 | €32,513 | €44,476 | +€11,963 | +36.8% |
| Total equity and liabilities | 10/49 | €5,927,755 | €6,055,218 | +€127,464 | +2.2% |
| Equity | 10/15 | €3,867,037 | €3,802,413 | -€64,624 | -1.7% |
| Contributions | 10/11 | €4,213,000 | €4,213,000 | = | 0.0% |
| Reserves | 13 | €7,239 | - | -€7,239 | |
| Tax-exempt reserves | 132 | €7,239 | - | -€7,239 | |
| Profit (loss) carried forward | 14 | -€353,202 | -€410,587 | -€57,385 | -16.2% |
| Amounts payable | 17/49 | €2,060,718 | €2,252,806 | +€192,088 | +9.3% |
| Amounts payable after more than one year | 17 | €752,208 | €2,007,662 | +€1.3m | +166.9% |
| Financial debts | 170/4 | €752,208 | €556,104 | -€196,104 | -26.1% |
| Other amounts payable | 178/9 | - | €1,451,558 | +€1.5m | |
| Amounts payable within one year | 42/48 | €1,308,510 | €243,513 | -€1.1m | -81.4% |
| Current portion of amounts payable after more than one year | 42 | €74,965 | €75,913 | +€948 | +1.3% |
| Trade debts | 44 | €19,057 | €106,151 | +€87,093 | +457.0% |
| Suppliers | 440/4 | €19,057 | €106,151 | +€87,093 | +457.0% |
| Advances received on contracts in progress | 46 | - | €6,859 | +€6,859 | |
| Taxes, remuneration and social security | 45 | €84,829 | €54,591 | -€30,238 | -35.6% |
| Taxes | 450/3 | €84,829 | €54,591 | -€30,238 | -35.6% |
| Other amounts payable | 47/48 | €1,129,658 | - | -€1.1m | |
| Accrued charges and deferred income | 492/3 | - | €1,630 | +€1,630 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €229,601 | €227,861 | -€1,740 | -0.8% |
| Other operating charges | 640/8 | €97,770 | €40,911 | -€56,859 | -58.2% |
| Gross operating margin | 9900 | €343,156 | €294,613 | -€48,544 | -14.1% |
| Operating profit (loss) | 9901 | €15,785 | €25,841 | +€10,056 | +63.7% |
| Financial income | 75/76B | €106 | €1,047 | +€942 | +890.9% |
| Recurring financial income | 75 | €106 | €1,047 | +€942 | +890.9% |
| Financial charges | 65/66B | €89,948 | €91,011 | +€1,063 | +1.2% |
| Recurring financial charges | 65 | €89,948 | €91,011 | +€1,063 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | -€74,057 | -€64,123 | +€9,934 | +13.4% |
| Income taxes | 67/77 | €556 | €501 | -€55 | -9.8% |
| Profit (loss) for the period | 9904 | -€74,613 | -€64,624 | +€9,989 | +13.4% |
| Transfer from tax-exempt reserves | 789 | - | €7,239 | +€7,239 | |
| Transfer to tax-exempt reserves | 689 | €3,620 | - | -€3,620 | |
| Profit (loss) for the period to be appropriated | 9905 | -€78,233 | -€57,385 | +€20,848 | +26.6% |
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 12 October 2026 via checked.be.