IMMO - MINERVE: 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 - MINERVE
Largest movements
- Tangible fixed assets -€10,369
down €10,369 (-2.0%), from €528,112 to €517,742
of which Land and buildings: -€28,800
- Profit (loss) carried forward -€28,259
down €28,259 (-177.6%), from -€15,911 to -€44,170
- Other debts +€14,964
up €14,964 (+58.9%), from €25,390 to €40,354
- Gross operating margin +€1,317
up €1,317 (+11.9%), from €11,046 to €12,363
- Depreciation +€486
up €486 (+1.4%), from €34,714 to €35,200
- Other operating charges +€163
up €163 (+3.1%), from €5,199 to €5,362
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 | €537,751 | €525,031 | -€12,720 | -2.4% |
| Fixed assets | 21/28 | €528,112 | €517,742 | -€10,369 | -2.0% |
| Tangible fixed assets | 22/27 | €528,112 | €517,742 | -€10,369 | -2.0% |
| Land and buildings | 22 | €504,912 | €476,112 | -€28,800 | -5.7% |
| Other tangible fixed assets | 26 | €23,199 | €41,630 | +€18,431 | +79.4% |
| Current assets | 29/58 | €9,639 | €7,289 | -€2,351 | -24.4% |
| Amounts receivable within one year | 40/41 | €3,700 | €3,700 | = | 0.0% |
| Trade receivables | 40 | €3,700 | €3,700 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,830 | €3,589 | -€2,241 | -38.4% |
| Deferred charges and accrued income | 490/1 | €110 | - | -€110 | |
| Total equity and liabilities | 10/49 | €537,751 | €525,031 | -€12,720 | -2.4% |
| Equity | 10/15 | €512,361 | €484,101 | -€28,259 | -5.5% |
| Contributions | 10/11 | €35,697 | €35,697 | = | 0.0% |
| Outside capital | 11 | €35,697 | €35,697 | = | 0.0% |
| Other | 1109/19 | €35,697 | €35,697 | = | 0.0% |
| Revaluation surpluses | 12 | €481,268 | €481,268 | = | 0.0% |
| Reserves | 13 | €11,307 | €11,307 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,307 | €11,307 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,307 | €11,307 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,911 | -€44,170 | -€28,259 | -177.6% |
| Amounts payable | 17/49 | €25,390 | €40,930 | +€15,539 | +61.2% |
| Amounts payable within one year | 42/48 | €25,390 | €40,930 | +€15,539 | +61.2% |
| Trade debts | 44 | - | €576 | +€576 | |
| Suppliers | 440/4 | - | €576 | +€576 | |
| Other amounts payable | 47/48 | €25,390 | €40,354 | +€14,964 | +58.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,714 | €35,200 | +€486 | +1.4% |
| Other operating charges | 640/8 | €5,199 | €5,362 | +€163 | +3.1% |
| Gross operating margin | 9900 | €11,046 | €12,363 | +€1,317 | +11.9% |
| Operating profit (loss) | 9901 | -€28,867 | -€28,199 | +€668 | +2.3% |
| Financial charges | 65/66B | €48 | €60 | +€12 | +24.4% |
| Recurring financial charges | 65 | €48 | €60 | +€12 | +24.4% |
| Profit (loss) for the period before taxes | 9903 | -€28,915 | -€28,259 | +€656 | +2.3% |
| Profit (loss) for the period | 9904 | -€28,915 | -€28,259 | +€656 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,915 | -€28,259 | +€656 | +2.3% |
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 5 October 2026 via checked.be.