IMMO MICAM: 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 MICAM
Largest movements
- Tangible fixed assets -€29,515
down €29,515 (-6.9%), from €429,542 to €400,027
- Debts after one year -€36,843
down €36,843 (-37.5%), from €98,340 to €61,497
- Profit (loss) carried forward +€5,666
up €5,666 (+1.7%), from €341,071 to €346,736
- Financial charges -€2,805
down €2,805 (-36.3%), from €7,719 to €4,914
- Taxes +€1,552
up €1,552 (+303.7%), from €511 to €2,062
- Gross operating margin +€661
up €661 (+1.4%), from €48,078 to €48,738
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 | €495,752 | €467,599 | -€28,153 | -5.7% |
| Fixed assets | 21/28 | €429,542 | €400,027 | -€29,515 | -6.9% |
| Tangible fixed assets | 22/27 | €429,542 | €400,027 | -€29,515 | -6.9% |
| Land and buildings | 22 | €429,542 | €400,027 | -€29,515 | -6.9% |
| Current assets | 29/58 | €66,210 | €67,572 | +€1,362 | +2.1% |
| Amounts receivable within one year | 40/41 | €62,356 | €63,156 | +€800 | +1.3% |
| Other amounts receivable | 41 | €62,356 | €63,156 | +€800 | +1.3% |
| Cash at bank and in hand | 54/58 | €3,853 | €4,415 | +€562 | +14.6% |
| Total equity and liabilities | 10/49 | €495,752 | €467,599 | -€28,153 | -5.7% |
| Equity | 10/15 | €361,531 | €367,196 | +€5,666 | +1.6% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €341,071 | €346,736 | +€5,666 | +1.7% |
| Amounts payable | 17/49 | €134,221 | €100,402 | -€33,819 | -25.2% |
| Amounts payable after more than one year | 17 | €98,340 | €61,497 | -€36,843 | -37.5% |
| Financial debts | 170/4 | €98,340 | €61,497 | -€36,843 | -37.5% |
| Amounts payable within one year | 42/48 | €35,881 | €38,905 | +€3,024 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €35,370 | €36,843 | +€1,473 | +4.2% |
| Taxes, remuneration and social security | 45 | €511 | €2,062 | +€1,552 | +303.7% |
| Taxes | 450/3 | €511 | €2,062 | +€1,552 | +303.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,515 | €29,515 | = | 0.0% |
| Other operating charges | 640/8 | €6,391 | €6,581 | +€190 | +3.0% |
| Gross operating margin | 9900 | €48,078 | €48,738 | +€661 | +1.4% |
| Operating profit (loss) | 9901 | €12,171 | €12,642 | +€471 | +3.9% |
| Financial charges | 65/66B | €7,719 | €4,914 | -€2,805 | -36.3% |
| Recurring financial charges | 65 | €7,719 | €4,914 | -€2,805 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €4,452 | €7,728 | +€3,276 | +73.6% |
| Income taxes | 67/77 | €511 | €2,062 | +€1,552 | +303.7% |
| Profit (loss) for the period | 9904 | €3,941 | €5,666 | +€1,725 | +43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,941 | €5,666 | +€1,725 | +43.8% |
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 4 October 2026 via checked.be.