IMMO MICHA: 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 MICHA
Largest movements
- Tangible fixed assets -€20,992
down €20,992 (-2.8%), from €737,511 to €716,519
of which Land and buildings: -€20,992
- Reserves -€12,497
down €12,497 (-3.6%), from €349,464 to €336,967
- Debts after one year -€8,524
down €8,524 (-8.8%), from €96,867 to €88,343
of which Financial debts: -€8,524
- Gross operating margin -€8,516
down €8,516 (-38.4%), from €22,163 to €13,647
- Depreciation -€1,517
down €1,517 (-6.7%), from €22,509 to €20,992
- Taxes +€1,157
up €1,157, from €0 to €1,157
- Other operating charges +€365
up €365 (+13.6%), from €2,693 to €3,058
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 | €766,114 | €743,464 | -€22,650 | -3.0% |
| Fixed assets | 21/28 | €737,511 | €716,519 | -€20,992 | -2.8% |
| Tangible fixed assets | 22/27 | €737,511 | €716,519 | -€20,992 | -2.8% |
| Land and buildings | 22 | €737,511 | €716,519 | -€20,992 | -2.8% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €28,603 | €26,945 | -€1,658 | -5.8% |
| Cash at bank and in hand | 54/58 | €28,603 | €26,945 | -€1,658 | -5.8% |
| Total equity and liabilities | 10/49 | €766,114 | €743,464 | -€22,650 | -3.0% |
| Equity | 10/15 | €523,709 | €514,997 | -€8,713 | -1.7% |
| Contributions | 10/11 | €196,000 | €196,000 | = | 0.0% |
| Reserves | 13 | €349,464 | €336,967 | -€12,497 | -3.6% |
| Tax-exempt reserves | 132 | €349,464 | €336,967 | -€12,497 | -3.6% |
| Profit (loss) carried forward | 14 | -€21,754 | -€17,970 | +€3,784 | +17.4% |
| Provisions and deferred taxes | 16 | €116,488 | €112,322 | -€4,166 | -3.6% |
| Deferred taxes | 168 | €116,488 | €112,322 | -€4,166 | -3.6% |
| Amounts payable | 17/49 | €125,917 | €116,145 | -€9,772 | -7.8% |
| Amounts payable after more than one year | 17 | €96,867 | €88,343 | -€8,524 | -8.8% |
| Financial debts | 170/4 | €94,902 | €86,378 | -€8,524 | -9.0% |
| Other amounts payable | 178/9 | €1,965 | €1,965 | = | 0.0% |
| Amounts payable within one year | 42/48 | €29,050 | €27,802 | -€1,248 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €8,421 | €8,524 | +€103 | +1.2% |
| Trade debts | 44 | €403 | €548 | +€146 | +36.2% |
| Suppliers | 440/4 | €403 | €548 | +€146 | +36.2% |
| Other amounts payable | 47/48 | €20,227 | €18,730 | -€1,497 | -7.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,509 | €20,992 | -€1,517 | -6.7% |
| Other operating charges | 640/8 | €2,693 | €3,058 | +€365 | +13.6% |
| Gross operating margin | 9900 | €22,163 | €13,647 | -€8,516 | -38.4% |
| Operating profit (loss) | 9901 | -€3,039 | -€10,403 | -€7,364 | -242.3% |
| Financial income | 75/76B | €21 | €0 | -€21 | -100.0% |
| Recurring financial income | 75 | €21 | €0 | -€21 | -100.0% |
| Financial charges | 65/66B | €1,420 | €1,318 | -€102 | -7.2% |
| Recurring financial charges | 65 | €1,420 | €1,318 | -€102 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,438 | -€11,721 | -€7,283 | -164.1% |
| Transfer from deferred taxes | 780 | €4,307 | €4,166 | -€141 | -3.3% |
| Income taxes | 67/77 | €0 | €1,157 | +€1,157 | |
| Profit (loss) for the period | 9904 | -€132 | -€8,713 | -€8,581 | -6521.6% |
| Transfer from tax-exempt reserves | 789 | €12,920 | €12,497 | -€424 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,789 | €3,784 | -€9,005 | -70.4% |
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 9 October 2026 via checked.be.