Immo Mullem: 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 Mullem
Largest movements
- Tangible fixed assets -€84,260
down €84,260 (-3.6%), from €2.4m to €2.3m
of which Land and buildings: -€84,260
- Receivables within one year +€60,398
up €60,398 (+416.0%), from €14,520 to €74,918
of which Trade receivables: +€60,398
- Debts after one year -€81,360
down €81,360 (-3.5%), from €2.3m to €2.2m
- Profit (loss) carried forward +€39,668
up €39,668 (+42.1%), from -€94,334 to -€54,665
- Gross operating margin +€15,971
up €15,971 (+11.5%), from €138,701 to €154,671
- Other operating charges +€7,997
up €7,997 (+615.3%), from €1,300 to €9,297
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 | €2,390,479 | €2,353,150 | -€37,330 | -1.6% |
| Fixed assets | 21/28 | €2,351,816 | €2,267,556 | -€84,260 | -3.6% |
| Tangible fixed assets | 22/27 | €2,351,816 | €2,267,556 | -€84,260 | -3.6% |
| Land and buildings | 22 | €2,351,816 | €2,267,556 | -€84,260 | -3.6% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €38,663 | €85,594 | +€46,930 | +121.4% |
| Amounts receivable within one year | 40/41 | €14,520 | €74,918 | +€60,398 | +416.0% |
| Trade receivables | 40 | €14,520 | €74,918 | +€60,398 | +416.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €23,609 | €10,675 | -€12,934 | -54.8% |
| Deferred charges and accrued income | 490/1 | €534 | €0 | -€534 | -100.0% |
| Total equity and liabilities | 10/49 | €2,390,479 | €2,353,150 | -€37,330 | -1.6% |
| Equity | 10/15 | -€89,334 | -€49,665 | +€39,668 | +44.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,334 | -€54,665 | +€39,668 | +42.1% |
| Amounts payable | 17/49 | €2,479,813 | €2,402,815 | -€76,998 | -3.1% |
| Amounts payable after more than one year | 17 | €2,309,368 | €2,228,008 | -€81,360 | -3.5% |
| Financial debts | 170/4 | €2,309,368 | €2,228,008 | -€81,360 | -3.5% |
| Amounts payable within one year | 42/48 | €160,771 | €165,133 | +€4,362 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €80,662 | €81,360 | +€698 | +0.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,494 | €5,160 | -€333 | -6.1% |
| Suppliers | 440/4 | €5,494 | €5,160 | -€333 | -6.1% |
| Taxes, remuneration and social security | 45 | €7,615 | €11,612 | +€3,997 | +52.5% |
| Taxes | 450/3 | €7,615 | €11,612 | +€3,997 | +52.5% |
| Other amounts payable | 47/48 | €67,000 | €67,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €9,675 | €9,675 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,380 | €84,260 | +€880 | +1.1% |
| Other operating charges | 640/8 | €1,300 | €9,297 | +€7,997 | +615.3% |
| Gross operating margin | 9900 | €138,701 | €154,671 | +€15,971 | +11.5% |
| Operating profit (loss) | 9901 | €54,021 | €61,114 | +€7,093 | +13.1% |
| Financial charges | 65/66B | €22,204 | €21,446 | -€758 | -3.4% |
| Recurring financial charges | 65 | €22,204 | €21,446 | -€758 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €31,817 | €39,668 | +€7,851 | +24.7% |
| Profit (loss) for the period | 9904 | €31,817 | €39,668 | +€7,851 | +24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31,817 | €39,668 | +€7,851 | +24.7% |
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.