Immo MVP: 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 MVP
Largest movements
- Cash -€98,679
down €98,679 (-38.9%), from €253,872 to €155,192
mainly Contributions, distributions and other (-€199,280) and Investment in fixed assets (net) (-€13,543)
- Receivables within one year -€32,953
down €32,953 (-55.2%), from €59,661 to €26,708
of which Trade receivables: -€38,230
- Intangible fixed assets -€8,203
down €8,203 (-26.3%), from €31,192 to €22,989
- Reserves -€121,453
down €121,453 (-30.8%), from €394,812 to €273,358
- Other debts -€9,470
down €9,470 (-12.6%), from €75,091 to €65,621
- Tax, wage and social debts -€7,604
down €7,604 (-32.1%), from €23,725 to €16,121
- Debts after one year -€5,606
down €5,606 (-21.6%), from €25,918 to €20,312
of which Financial debts: -€5,606
- Gross operating margin -€22,305
down €22,305 (-13.2%), from €169,530 to €147,225
- Taxes -€7,976
down €7,976 (-18.2%), from €43,708 to €35,732
- Financial income -€5,968
down €5,968 (-83.7%), from €7,126 to €1,158
- Financial charges +€4,312
up €4,312 (+121%), from €3,553 to €7,865
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 | €551,072 | €408,761 | -€142,311 | -25.8% |
| Fixed assets | 21/28 | €235,023 | €224,374 | -€10,649 | -4.5% |
| Intangible fixed assets | 21 | €31,192 | €22,989 | -€8,203 | -26.3% |
| Tangible fixed assets | 22/27 | €128,831 | €124,735 | -€4,096 | -3.2% |
| Land and buildings | 22 | €112,638 | €106,272 | -€6,367 | -5.7% |
| Plant, machinery and equipment | 23 | €7,062 | €12,985 | +€5,923 | +83.9% |
| Furniture and vehicles | 24 | €3,728 | €2,350 | -€1,378 | -37.0% |
| Other tangible fixed assets | 26 | €5,403 | €3,129 | -€2,273 | -42.1% |
| Financial fixed assets | 28 | €75,000 | €76,650 | +€1,650 | +2.2% |
| Current assets | 29/58 | €316,049 | €184,388 | -€131,662 | -41.7% |
| Amounts receivable within one year | 40/41 | €59,661 | €26,708 | -€32,953 | -55.2% |
| Trade receivables | 40 | €45,106 | €6,877 | -€38,230 | -84.8% |
| Other amounts receivable | 41 | €14,555 | €19,831 | +€5,276 | +36.3% |
| Cash at bank and in hand | 54/58 | €253,872 | €155,192 | -€98,679 | -38.9% |
| Deferred charges and accrued income | 490/1 | €2,516 | €2,488 | -€29 | -1.1% |
| Total equity and liabilities | 10/49 | €551,072 | €408,761 | -€142,311 | -25.8% |
| Equity | 10/15 | €413,812 | €292,358 | -€121,453 | -29.3% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €394,812 | €273,358 | -€121,453 | -30.8% |
| Distributable reserves | 133 | €394,812 | €273,358 | -€121,453 | -30.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €137,260 | €116,403 | -€20,858 | -15.2% |
| Amounts payable after more than one year | 17 | €25,918 | €20,312 | -€5,606 | -21.6% |
| Financial debts | 170/4 | €23,923 | €18,317 | -€5,606 | -23.4% |
| Other amounts payable | 178/9 | €1,995 | €1,995 | = | 0.0% |
| Amounts payable within one year | 42/48 | €110,457 | €95,287 | -€15,170 | -13.7% |
| Current portion of amounts payable after more than one year | 42 | €5,522 | €5,606 | +€83 | +1.5% |
| Trade debts | 44 | €6,119 | €7,939 | +€1,820 | +29.7% |
| Suppliers | 440/4 | €6,119 | €7,939 | +€1,820 | +29.7% |
| Taxes, remuneration and social security | 45 | €23,725 | €16,121 | -€7,604 | -32.1% |
| Taxes | 450/3 | €23,725 | €16,121 | -€7,604 | -32.1% |
| Other amounts payable | 47/48 | €75,091 | €65,621 | -€9,470 | -12.6% |
| Accrued charges and deferred income | 492/3 | €885 | €804 | -€82 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,214 | €24,192 | -€1,021 | -4.1% |
| Other operating charges | 640/8 | €2,685 | €2,768 | +€83 | +3.1% |
| Non-recurring operating charges | 66A | €966 | €0 | -€966 | -100% |
| Gross operating margin | 9900 | €169,530 | €147,225 | -€22,305 | -13.2% |
| Operating profit (loss) | 9901 | €140,666 | €120,265 | -€20,401 | -14.5% |
| Financial income | 75/76B | €7,126 | €1,158 | -€5,968 | -83.7% |
| Recurring financial income | 75 | €7,126 | €1,158 | -€5,968 | -83.7% |
| Financial charges | 65/66B | €3,553 | €7,865 | +€4,312 | +121% |
| Recurring financial charges | 65 | €3,553 | €7,865 | +€4,312 | +121% |
| Profit (loss) for the period before taxes | 9903 | €144,239 | €113,558 | -€30,681 | -21.3% |
| Income taxes | 67/77 | €43,708 | €35,732 | -€7,976 | -18.2% |
| Profit (loss) for the period | 9904 | €100,531 | €77,826 | -€22,705 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €100,531 | €77,826 | -€22,705 | -22.6% |
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 14 October 2026 via checked.be.