Immo Mortier: 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 Mortier
Largest movements
- Tangible fixed assets +€1.6m
up €1.6m (+96.2%), from €1.7m to €3.3m
of which Land and buildings: +€1.6m
- Stocks and contracts +€903,697
up €903,697 (+35.1%), from €2.6m to €3.5m
- Other debts +€1.2m
up €1.2m (+40.8%), from €2.9m to €4.1m
- Contributions +€798,000
up €798,000 (+118.3%), from €674,450 to €1.5m
- Reserves +€439,347
up €439,347 (+21.0%), from €2.1m to €2.5m
of which Distributable reserves: +€249,800
- Trade debts +€167,291
up €167,291 (+4613.6%), from €3,626 to €170,917
- Gross operating margin -€224,456
down €224,456 (-40.1%), from €559,194 to €334,738
- Financial charges -€106,182
down €106,182 (-58.6%), from €181,131 to €74,949
- Taxes -€59,493
down €59,493 (-55.8%), from €106,581 to €47,088
- Depreciation +€37,847
up €37,847 (+44.7%), from €84,709 to €122,555
- Financial income -€20,998
down €20,998 (-41.8%), from €50,233 to €29,236
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 | €5,826,660 | €8,439,050 | +€2.6m | +44.8% |
| Fixed assets | 21/28 | €1,687,643 | €3,356,851 | +€1.7m | +98.9% |
| Intangible fixed assets | 21 | - | €46,240 | +€46,240 | |
| Tangible fixed assets | 22/27 | €1,687,643 | €3,310,611 | +€1.6m | +96.2% |
| Land and buildings | 22 | €1,660,707 | €3,297,039 | +€1.6m | +98.5% |
| Furniture and vehicles | 24 | €26,935 | €13,572 | -€13,364 | -49.6% |
| Current assets | 29/58 | €4,139,017 | €5,082,199 | +€943,182 | +22.8% |
| Stocks and contracts in progress | 3 | €2,576,541 | €3,480,238 | +€903,697 | +35.1% |
| Stocks | 30/36 | €2,576,541 | €3,480,238 | +€903,697 | +35.1% |
| Amounts receivable within one year | 40/41 | €9,498 | €18,644 | +€9,147 | +96.3% |
| Trade receivables | 40 | €891 | €5,646 | +€4,755 | +533.6% |
| Other amounts receivable | 41 | €8,606 | €12,998 | +€4,392 | +51.0% |
| Cash at bank and in hand | 54/58 | €1,520,235 | €1,544,119 | +€23,884 | +1.6% |
| Deferred charges and accrued income | 490/1 | €32,743 | €39,198 | +€6,455 | +19.7% |
| Total equity and liabilities | 10/49 | €5,826,660 | €8,439,050 | +€2.6m | +44.8% |
| Equity | 10/15 | €2,764,272 | €4,001,448 | +€1.2m | +44.8% |
| Contributions | 10/11 | €674,450 | €1,472,450 | +€798,000 | +118.3% |
| Reserves | 13 | €2,089,651 | €2,528,998 | +€439,347 | +21.0% |
| Tax-exempt reserves | 132 | €209,824 | €399,370 | +€189,546 | +90.3% |
| Distributable reserves | 133 | €1,879,828 | €2,129,628 | +€249,800 | +13.3% |
| Profit (loss) carried forward | 14 | €170 | - | -€170 | |
| Provisions and deferred taxes | 16 | €108,043 | €168,760 | +€60,717 | +56.2% |
| Deferred taxes | 168 | €108,043 | €168,760 | +€60,717 | +56.2% |
| Amounts payable | 17/49 | €2,954,345 | €4,268,842 | +€1.3m | +44.5% |
| Amounts payable after more than one year | 17 | €233 | €233 | = | 0.0% |
| Other amounts payable | 178/9 | €233 | €233 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,948,379 | €4,260,781 | +€1.3m | +44.5% |
| Trade debts | 44 | €3,626 | €170,917 | +€167,291 | +4613.6% |
| Suppliers | 440/4 | €3,626 | €170,917 | +€167,291 | +4613.6% |
| Taxes, remuneration and social security | 45 | €58,968 | €27,614 | -€31,353 | -53.2% |
| Taxes | 450/3 | €58,968 | €27,614 | -€31,353 | -53.2% |
| Other amounts payable | 47/48 | €2,885,785 | €4,062,250 | +€1.2m | +40.8% |
| Accrued charges and deferred income | 492/3 | €5,733 | €7,828 | +€2,095 | +36.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,709 | €122,555 | +€37,847 | +44.7% |
| Other operating charges | 640/8 | €38,489 | €51,719 | +€13,230 | +34.4% |
| Gross operating margin | 9900 | €559,194 | €334,738 | -€224,456 | -40.1% |
| Operating profit (loss) | 9901 | €435,996 | €160,464 | -€275,532 | -63.2% |
| Financial income | 75/76B | €50,233 | €29,236 | -€20,998 | -41.8% |
| Recurring financial income | 75 | €50,233 | €29,236 | -€20,998 | -41.8% |
| Financial charges | 65/66B | €181,131 | €74,949 | -€106,182 | -58.6% |
| Recurring financial charges | 65 | €181,131 | €74,949 | -€106,182 | -58.6% |
| Profit (loss) for the period before taxes | 9903 | €305,098 | €114,751 | -€190,348 | -62.4% |
| Transfer from deferred taxes | 780 | €6,990 | €9,197 | +€2,206 | +31.6% |
| Income taxes | 67/77 | €106,581 | €47,088 | -€59,493 | -55.8% |
| Profit (loss) for the period | 9904 | €205,507 | €76,860 | -€128,648 | -62.6% |
| Transfer from tax-exempt reserves | 789 | €13,575 | €20,195 | +€6,619 | +48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €219,083 | €97,054 | -€122,029 | -55.7% |
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 11 October 2026 via checked.be.