IMMO MOTTARD: 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 MOTTARD
Largest movements
- Current investments -€1.2m
down €1.2m (-100%), from €1.2m to €0
- Tangible fixed assets +€1.1m
up €1.1m (+35.5%), from €3.1m to €4.2m
of which Land and buildings: +€1.1m
- Cash +€123,150
up €123,150 (+16.6%), from €742,062 to €865,212
mainly Current investments (+€1.2m) and Depreciation (+€173,450)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€75,522
up €75,522 (+59.0%), from €128,071 to €203,593
- Depreciation +€74,563
up €74,563 (+75.4%), from €98,887 to €173,450
- Financial income -€54,600
down €54,600 (-46.3%), from €117,984 to €63,384
- Other operating charges +€7,274
up €7,274 (+52.7%), from €13,816 to €21,090
- Taxes +€4,380
up €4,380 (+7.6%), from €57,906 to €62,286
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 | €5,872,528 | €5,940,767 | +€68,239 | +1.2% |
| Fixed assets | 21/28 | €3,084,957 | €4,180,274 | +€1.1m | +35.5% |
| Tangible fixed assets | 22/27 | €3,084,957 | €4,180,274 | +€1.1m | +35.5% |
| Land and buildings | 22 | €2,915,492 | €4,038,251 | +€1.1m | +38.5% |
| Plant, machinery and equipment | 23 | - | €6,994 | +€6,994 | |
| Furniture and vehicles | 24 | €169,465 | €135,029 | -€34,436 | -20.3% |
| Current assets | 29/58 | €2,787,571 | €1,760,493 | -€1.0m | -36.8% |
| Amounts receivable within one year | 40/41 | €801,491 | €802,670 | +€1,179 | +0.1% |
| Trade receivables | 40 | - | €2,670 | +€2,670 | |
| Other amounts receivable | 41 | €801,491 | €800,000 | -€1,491 | -0.2% |
| Current investments | 50/53 | €1,200,000 | €0 | -€1.2m | -100% |
| Cash at bank and in hand | 54/58 | €742,062 | €865,212 | +€123,150 | +16.6% |
| Deferred charges and accrued income | 490/1 | €44,018 | €92,611 | +€48,593 | +110% |
| Total equity and liabilities | 10/49 | €5,872,528 | €5,940,767 | +€68,239 | +1.2% |
| Equity | 10/15 | €4,978,039 | €5,015,043 | +€37,004 | +0.7% |
| 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 | €4,904,345 | €4,941,349 | +€37,004 | +0.8% |
| Non-distributable reserves | 130/1 | €40,000 | €40,000 | = | 0.0% |
| Legal reserve | 130 | €40,000 | €40,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,591,619 | €2,510,448 | -€81,171 | -3.1% |
| Distributable reserves | 133 | €2,272,726 | €2,390,901 | +€118,175 | +5.2% |
| Profit (loss) carried forward | 14 | €11,694 | €11,694 | +€0 | 0.0% |
| Provisions and deferred taxes | 16 | €863,873 | €836,816 | -€27,057 | -3.1% |
| Deferred taxes | 168 | €863,873 | €836,816 | -€27,057 | -3.1% |
| Amounts payable | 17/49 | €30,616 | €88,908 | +€58,292 | +190% |
| Amounts payable after more than one year | 17 | €14,017 | - | -€14,017 | |
| Other amounts payable | 178/9 | €14,017 | - | -€14,017 | |
| Amounts payable within one year | 42/48 | €14,321 | €85,950 | +€71,629 | +500% |
| Current portion of amounts payable after more than one year | 42 | - | €18,560 | +€18,560 | |
| Trade debts | 44 | €343 | €3,712 | +€3,369 | +982% |
| Suppliers | 440/4 | €343 | €3,712 | +€3,369 | +982% |
| Taxes, remuneration and social security | 45 | €12,408 | €62,336 | +€49,928 | +402% |
| Taxes | 450/3 | €12,408 | €62,336 | +€49,928 | +402% |
| Other amounts payable | 47/48 | €1,570 | €1,342 | -€228 | -14.5% |
| Accrued charges and deferred income | 492/3 | €2,278 | €2,958 | +€680 | +29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,887 | €173,450 | +€74,563 | +75.4% |
| Other operating charges | 640/8 | €13,816 | €21,090 | +€7,274 | +52.7% |
| Gross operating margin | 9900 | €128,071 | €203,593 | +€75,522 | +59.0% |
| Operating profit (loss) | 9901 | €15,368 | €9,053 | -€6,315 | -41.1% |
| Financial income | 75/76B | €117,984 | €63,384 | -€54,600 | -46.3% |
| Recurring financial income | 75 | €117,984 | €63,384 | -€54,600 | -46.3% |
| Financial charges | 65/66B | €457 | €204 | -€253 | -55.4% |
| Recurring financial charges | 65 | €457 | €204 | -€253 | -55.4% |
| Profit (loss) for the period before taxes | 9903 | €132,895 | €72,233 | -€60,662 | -45.6% |
| Transfer from deferred taxes | 780 | €12,273 | €27,057 | +€14,784 | +120% |
| Income taxes | 67/77 | €57,906 | €62,286 | +€4,380 | +7.6% |
| Profit (loss) for the period | 9904 | €87,262 | €37,004 | -€50,258 | -57.6% |
| Transfer from tax-exempt reserves | 789 | €36,820 | €81,171 | +€44,351 | +120% |
| Profit (loss) for the period to be appropriated | 9905 | €124,082 | €118,175 | -€5,907 | -4.8% |
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 16 October 2026 via checked.be.