IMMO-MIGEAUX: 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-MIGEAUX
Largest movements
- Tangible fixed assets -€29,897
down €29,897 (-8.9%), from €335,023 to €305,126
of which Land and buildings: -€29,856
- Receivables within one year -€13,357
down €13,357 (-86.0%), from €15,534 to €2,177
of which Trade receivables: -€12,128
- Cash +€3,998
up €3,998 (+405%), from €987 to €4,985
mainly Other debts (+€38,310) and Depreciation (+€30,982)
- Profit (loss) carried forward -€38,743
down €38,743 (-41.8%), from -€92,641 to -€131,384
- Other debts +€38,310
up €38,310 (+245%), from €15,631 to €53,941
- Tax, wage and social debts -€10,883
down €10,883 (-21.1%), from €51,521 to €40,637
of which Taxes: -€8,064
- Short-term financial debts -€9,732
no longer reported in 2025 (was €9,732)
- Trade debts -€8,663
down €8,663 (-11.0%), from €78,742 to €70,080
- Financial income -€48,597
down €48,597 (-99.8%), from €48,705 to €108
of which Non-recurring financial income: -€48,583
- Staff costs -€14,803
down €14,803 (-13.5%), from €110,034 to €95,231
- Gross operating margin -€13,834
down €13,834 (-11.6%), from €119,540 to €105,706
- Financial charges -€9,999
down €9,999 (-44.2%), from €22,645 to €12,646
of which Financial charges: -€5,298
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.
Derived cash bridge
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 | €389,323 | €350,867 | -€38,456 | -9.9% |
| Fixed assets | 21/28 | €335,370 | €305,473 | -€29,897 | -8.9% |
| Tangible fixed assets | 22/27 | €335,023 | €305,126 | -€29,897 | -8.9% |
| Land and buildings | 22 | €331,403 | €301,547 | -€29,856 | -9.0% |
| Plant, machinery and equipment | 23 | €3,340 | €2,354 | -€985 | -29.5% |
| Furniture and vehicles | 24 | €280 | €1,225 | +€945 | +337% |
| Financial fixed assets | 28 | €347 | €347 | = | 0.0% |
| Current assets | 29/58 | €53,952 | €45,394 | -€8,559 | -15.9% |
| Amounts receivable within one year | 40/41 | €15,534 | €2,177 | -€13,357 | -86.0% |
| Trade receivables | 40 | €13,817 | €1,689 | -€12,128 | -87.8% |
| Other amounts receivable | 41 | €1,717 | €488 | -€1,230 | -71.6% |
| Cash at bank and in hand | 54/58 | €987 | €4,985 | +€3,998 | +405% |
| Deferred charges and accrued income | 490/1 | €37,431 | €38,231 | +€801 | +2.1% |
| Total equity and liabilities | 10/49 | €389,323 | €350,867 | -€38,456 | -9.9% |
| Equity | 10/15 | €210,257 | €171,514 | -€38,743 | -18.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €249,015 | €249,015 | = | 0.0% |
| Reserves | 13 | €33,884 | €33,884 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,907 | €1,907 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,907 | €1,907 | = | 0.0% |
| Distributable reserves | 133 | €31,977 | €31,977 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€92,641 | -€131,384 | -€38,743 | -41.8% |
| Amounts payable | 17/49 | €179,065 | €179,352 | +€287 | +0.2% |
| Amounts payable after more than one year | 17 | €14,111 | €5,868 | -€8,244 | -58.4% |
| Financial debts | 170/4 | €14,111 | €5,868 | -€8,244 | -58.4% |
| Amounts payable within one year | 42/48 | €163,245 | €172,902 | +€9,657 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €7,619 | €8,244 | +€624 | +8.2% |
| Financial debts | 43 | €9,732 | - | -€9,732 | |
| Credit institutions | 430/8 | €9,732 | - | -€9,732 | |
| Trade debts | 44 | €78,742 | €70,080 | -€8,663 | -11.0% |
| Suppliers | 440/4 | €78,742 | €70,080 | -€8,663 | -11.0% |
| Taxes, remuneration and social security | 45 | €51,521 | €40,637 | -€10,883 | -21.1% |
| Taxes | 450/3 | €16,229 | €8,165 | -€8,064 | -49.7% |
| Remuneration and social security | 454/9 | €35,292 | €32,472 | -€2,819 | -8.0% |
| Other amounts payable | 47/48 | €15,631 | €53,941 | +€38,310 | +245% |
| Accrued charges and deferred income | 492/3 | €1,708 | €583 | -€1,126 | -65.9% |
| Remuneration, social security and pensions | 62 | €110,034 | €95,231 | -€14,803 | -13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,777 | €30,982 | +€205 | +0.7% |
| Other operating charges | 640/8 | €5,778 | €5,593 | -€185 | -3.2% |
| Gross operating margin | 9900 | €119,540 | €105,706 | -€13,834 | -11.6% |
| Operating profit (loss) | 9901 | -€27,049 | -€26,100 | +€949 | +3.5% |
| Financial income | 75/76B | €48,705 | €108 | -€48,597 | -99.8% |
| Recurring financial income | 75 | €123 | €108 | -€14 | -11.7% |
| Non-recurring financial income | 76B | €48,583 | - | -€48,583 | |
| Financial charges | 65/66B | €22,645 | €12,646 | -€9,999 | -44.2% |
| Recurring financial charges | 65 | €17,944 | €12,646 | -€5,298 | -29.5% |
| Non-recurring financial charges | 66B | €4,701 | - | -€4,701 | |
| Profit (loss) for the period before taxes | 9903 | -€988 | -€38,638 | -€37,649 | -3,809% |
| Transfer from deferred taxes | 780 | €33 | - | -€33 | |
| Income taxes | 67/77 | €129 | €105 | -€23 | -18.0% |
| Profit (loss) for the period | 9904 | -€1,084 | -€38,743 | -€37,659 | -3,475% |
| Transfer from tax-exempt reserves | 789 | €65 | - | -€65 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,019 | -€38,743 | -€37,724 | -3,702% |
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 28 October 2026 via checked.be.