IMMO - MORREN: 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 - MORREN
Largest movements
- Tangible fixed assets +€20,187
up €20,187 (+59.6%), from €33,860 to €54,047
- Cash -€3,368
down €3,368 (-14.6%), from €23,145 to €19,777
mainly Investment in fixed assets (net) (-€24,392) and Tax, wage and social debts (-€319)
- Profit (loss) carried forward +€14,518
up €14,518 (+98.9%), from -€14,677 to -€159
- Other debts +€2,113
up €2,113 (+9.8%), from €21,643 to €23,756
- Gross operating margin -€5,125
down €5,125 (-15.2%), from €33,825 to €28,700
- Taxes +€3,474
up €3,474 (+925.0%), from €376 to €3,849
- Depreciation +€1,913
up €1,913 (+70.3%), from €2,722 to €4,635
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 | €57,446 | €73,824 | +€16,378 | +28.5% |
| Fixed assets | 21/28 | €34,290 | €54,047 | +€19,757 | +57.6% |
| Tangible fixed assets | 22/27 | €33,860 | €54,047 | +€20,187 | +59.6% |
| Land and buildings | 22 | €33,860 | €54,047 | +€20,187 | +59.6% |
| Financial fixed assets | 28 | €430 | €0 | -€430 | -100.0% |
| Current assets | 29/58 | €23,156 | €19,777 | -€3,379 | -14.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €23,145 | €19,777 | -€3,368 | -14.6% |
| Deferred charges and accrued income | 490/1 | €11 | €0 | -€11 | -100.0% |
| Total equity and liabilities | 10/49 | €57,446 | €73,824 | +€16,378 | +28.5% |
| Equity | 10/15 | €35,437 | €49,955 | +€14,518 | +41.0% |
| Contributions | 10/11 | €48,874 | €48,874 | = | 0.0% |
| Reserves | 13 | €1,239 | €1,239 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,239 | €1,239 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,677 | -€159 | +€14,518 | +98.9% |
| Amounts payable | 17/49 | €22,009 | €23,869 | +€1,860 | +8.5% |
| Amounts payable within one year | 42/48 | €22,009 | €23,869 | +€1,860 | +8.5% |
| Trade debts | 44 | - | €66 | +€66 | |
| Suppliers | 440/4 | - | €66 | +€66 | |
| Taxes, remuneration and social security | 45 | €366 | €47 | -€319 | -87.1% |
| Taxes | 450/3 | €366 | €47 | -€319 | -87.1% |
| Other amounts payable | 47/48 | €21,643 | €23,756 | +€2,113 | +9.8% |
| Non-recurring operating income | 76A | €2,498 | €0 | -€2,498 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,722 | €4,635 | +€1,913 | +70.3% |
| Other operating charges | 640/8 | €4,919 | €5,066 | +€147 | +3.0% |
| Non-recurring operating charges | 66A | €0 | €487 | +€487 | |
| Gross operating margin | 9900 | €33,825 | €28,700 | -€5,125 | -15.2% |
| Operating profit (loss) | 9901 | €26,184 | €18,512 | -€7,672 | -29.3% |
| Financial income | 75/76B | €42 | €24 | -€17 | -41.9% |
| Recurring financial income | 75 | €42 | €24 | -€17 | -41.9% |
| Financial charges | 65/66B | €163 | €169 | +€6 | +3.8% |
| Recurring financial charges | 65 | €163 | €169 | +€6 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €26,063 | €18,367 | -€7,696 | -29.5% |
| Income taxes | 67/77 | €376 | €3,849 | +€3,474 | +925.0% |
| Profit (loss) for the period | 9904 | €25,687 | €14,518 | -€11,170 | -43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,687 | €14,518 | -€11,170 | -43.5% |
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 28 September 2026 via checked.be.