IMMO MIN 18: 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 MIN 18
Largest movements
- Receivables within one year -€139,329
down €139,329 (-35.6%), from €390,852 to €251,523
- Cash +€94,071
up €94,071 (+35.8%), from €262,701 to €356,771
mainly Receivables within one year (+€139,329) and Net result for the year (+€72,079)
- Other debts -€130,000
down €130,000 (-26.1%), from €498,888 to €368,888
- Reserves +€72,079
up €72,079 (+22.4%), from €321,121 to €393,201
of which Distributable reserves: +€72,079
- Depreciation -€22,417
down €22,417 (-78.9%), from €28,427 to €6,009
- Taxes +€7,700
up €7,700 (+29.7%), from €25,948 to €33,648
- Gross operating margin -€1,872
down €1,872 (-1.4%), from €136,032 to €134,160
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €886,416 | €835,072 | -€51,344 | -5.8% |
| Fixed assets | 21/28 | €232,117 | €226,108 | -€6,009 | -2.6% |
| Tangible fixed assets | 22/27 | €232,117 | €226,108 | -€6,009 | -2.6% |
| Land and buildings | 22 | €232,117 | €226,108 | -€6,009 | -2.6% |
| Current assets | 29/58 | €654,298 | €608,964 | -€45,334 | -6.9% |
| Amounts receivable within one year | 40/41 | €390,852 | €251,523 | -€139,329 | -35.6% |
| Other amounts receivable | 41 | €390,852 | €251,523 | -€139,329 | -35.6% |
| Cash at bank and in hand | 54/58 | €262,701 | €356,771 | +€94,071 | +35.8% |
| Deferred charges and accrued income | 490/1 | €746 | €670 | -€76 | -10.2% |
| Total equity and liabilities | 10/49 | €886,416 | €835,072 | -€51,344 | -5.8% |
| Equity | 10/15 | €383,121 | €455,201 | +€72,079 | +18.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €321,121 | €393,201 | +€72,079 | +22.4% |
| Non-distributable reserves | 130/1 | €20,612 | €20,612 | = | 0.0% |
| Legal reserve | 130 | €20,612 | €20,612 | = | 0.0% |
| Distributable reserves | 133 | €300,509 | €372,588 | +€72,079 | +24.0% |
| Amounts payable | 17/49 | €503,294 | €379,871 | -€123,423 | -24.5% |
| Amounts payable within one year | 42/48 | €501,794 | €378,371 | -€123,423 | -24.6% |
| Trade debts | 44 | €409 | €836 | +€426 | +104% |
| Suppliers | 440/4 | €409 | €836 | +€426 | +104% |
| Taxes, remuneration and social security | 45 | €2,497 | €8,648 | +€6,150 | +246% |
| Taxes | 450/3 | €2,497 | €8,648 | +€6,150 | +246% |
| Other amounts payable | 47/48 | €498,888 | €368,888 | -€130,000 | -26.1% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,427 | €6,009 | -€22,417 | -78.9% |
| Other operating charges | 640/8 | €20,784 | €21,497 | +€713 | +3.4% |
| Gross operating margin | 9900 | €136,032 | €134,160 | -€1,872 | -1.4% |
| Operating profit (loss) | 9901 | €86,821 | €106,653 | +€19,833 | +22.8% |
| Financial charges | 65/66B | €843 | €926 | +€83 | +9.9% |
| Recurring financial charges | 65 | €843 | €926 | +€83 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €85,978 | €105,727 | +€19,749 | +23.0% |
| Income taxes | 67/77 | €25,948 | €33,648 | +€7,700 | +29.7% |
| Profit (loss) for the period | 9904 | €60,030 | €72,079 | +€12,050 | +20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €60,030 | €72,079 | +€12,050 | +20.1% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.