IMMO MZ: 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 MZ
Largest movements
- Tangible fixed assets -€44,510
down €44,510 (-4.1%), from €1.1m to €1.0m
- Receivables within one year +€27,303
up €27,303 (+129.7%), from €21,058 to €48,361
- Debts after one year -€49,059
down €49,059 (-4.0%), from €1.2m to €1.2m
- Profit (loss) carried forward +€27,536
up €27,536 (+18.6%), from -€148,002 to -€120,466
- Depreciation -€125,655
down €125,655 (-73.8%), from €170,165 to €44,510
- Gross operating margin +€72,669
up €72,669 (+169.4%), from €42,892 to €115,561
- Financial charges +€20,942
up €20,942 (+110.0%), from €19,040 to €39,982
- Other operating charges +€1,844
up €1,844 (+109.1%), from €1,689 to €3,533
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 | €1,115,707 | €1,099,221 | -€16,486 | -1.5% |
| Fixed assets | 21/28 | €1,093,365 | €1,048,855 | -€44,510 | -4.1% |
| Tangible fixed assets | 22/27 | €1,093,365 | €1,048,855 | -€44,510 | -4.1% |
| Land and buildings | 22 | €1,093,365 | €1,048,855 | -€44,510 | -4.1% |
| Current assets | 29/58 | €22,342 | €50,366 | +€28,024 | +125.4% |
| Amounts receivable within one year | 40/41 | €21,058 | €48,361 | +€27,303 | +129.7% |
| Other amounts receivable | 41 | €21,058 | €48,361 | +€27,303 | +129.7% |
| Cash at bank and in hand | 54/58 | €16 | €615 | +€598 | +3719.5% |
| Deferred charges and accrued income | 490/1 | €1,268 | €1,391 | +€123 | +9.7% |
| Total equity and liabilities | 10/49 | €1,115,707 | €1,099,221 | -€16,486 | -1.5% |
| Equity | 10/15 | -€144,002 | -€116,466 | +€27,536 | +19.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,002 | -€120,466 | +€27,536 | +18.6% |
| Amounts payable | 17/49 | €1,259,710 | €1,215,687 | -€44,022 | -3.5% |
| Amounts payable after more than one year | 17 | €1,212,143 | €1,163,084 | -€49,059 | -4.0% |
| Financial debts | 170/4 | €1,212,143 | €1,163,084 | -€49,059 | -4.0% |
| Amounts payable within one year | 42/48 | €47,567 | €49,470 | +€1,903 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €47,567 | €49,059 | +€1,492 | +3.1% |
| Trade debts | 44 | - | €311 | +€311 | |
| Suppliers | 440/4 | - | €311 | +€311 | |
| Other amounts payable | 47/48 | - | €100 | +€100 | |
| Accrued charges and deferred income | 492/3 | - | €3,133 | +€3,133 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170,165 | €44,510 | -€125,655 | -73.8% |
| Other operating charges | 640/8 | €1,689 | €3,533 | +€1,844 | +109.1% |
| Gross operating margin | 9900 | €42,892 | €115,561 | +€72,669 | +169.4% |
| Operating profit (loss) | 9901 | -€128,963 | €67,518 | +€196,481 | |
| Financial charges | 65/66B | €19,040 | €39,982 | +€20,942 | +110.0% |
| Recurring financial charges | 65 | €19,040 | €39,982 | +€20,942 | +110.0% |
| Profit (loss) for the period before taxes | 9903 | -€148,002 | €27,536 | +€175,538 | |
| Profit (loss) for the period | 9904 | -€148,002 | €27,536 | +€175,538 | |
| Profit (loss) for the period to be appropriated | 9905 | -€148,002 | €27,536 | +€175,538 |
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 2 October 2026 via checked.be.