IMMO MZG: 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 MZG
Largest movements
- Tangible fixed assets -€30,993
down €30,993 (-7.2%), from €432,097 to €401,103
of which Land and buildings: -€19,135
- Cash +€14,783
up €14,783 (+115%), from €12,815 to €27,598
mainly Depreciation (+€30,993) and Net result for the year (+€6,991)
- Debts after one year -€24,205
down €24,205 (-6.4%), from €378,907 to €354,703
of which Financial debts: -€24,205
- Profit (loss) carried forward +€6,991
up €6,991 (+65.6%), from €10,662 to €17,653
- Gross operating margin -€1,907
down €1,907 (-3.8%), from €49,540 to €47,633
- Depreciation +€1,092
up €1,092 (+3.7%), from €29,902 to €30,993
- Taxes -€824
down €824 (-23.7%), from €3,480 to €2,656
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 | €444,912 | €429,557 | -€15,355 | -3.5% |
| Fixed assets | 21/28 | €432,097 | €401,103 | -€30,993 | -7.2% |
| Tangible fixed assets | 22/27 | €432,097 | €401,103 | -€30,993 | -7.2% |
| Land and buildings | 22 | €383,573 | €364,438 | -€19,135 | -5.0% |
| Furniture and vehicles | 24 | €48,524 | €36,666 | -€11,858 | -24.4% |
| Current assets | 29/58 | €12,815 | €28,453 | +€15,638 | +122% |
| Cash at bank and in hand | 54/58 | €12,815 | €27,598 | +€14,783 | +115% |
| Deferred charges and accrued income | 490/1 | - | €855 | +€855 | |
| Total equity and liabilities | 10/49 | €444,912 | €429,557 | -€15,355 | -3.5% |
| Equity | 10/15 | €35,662 | €42,653 | +€6,991 | +19.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,662 | €17,653 | +€6,991 | +65.6% |
| Amounts payable | 17/49 | €409,249 | €386,903 | -€22,346 | -5.5% |
| Amounts payable after more than one year | 17 | €378,907 | €354,703 | -€24,205 | -6.4% |
| Financial debts | 170/4 | €367,807 | €343,603 | -€24,205 | -6.6% |
| Other amounts payable | 178/9 | €11,100 | €11,100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €30,342 | €32,201 | +€1,859 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €23,610 | €24,205 | +€594 | +2.5% |
| Trade debts | 44 | - | €1,047 | +€1,047 | |
| Suppliers | 440/4 | - | €1,047 | +€1,047 | |
| Taxes, remuneration and social security | 45 | €3,480 | €6,137 | +€2,656 | +76.3% |
| Taxes | 450/3 | €3,480 | €6,137 | +€2,656 | +76.3% |
| Other amounts payable | 47/48 | €3,251 | €812 | -€2,439 | -75.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,902 | €30,993 | +€1,092 | +3.7% |
| Other operating charges | 640/8 | €3,042 | €3,138 | +€95 | +3.1% |
| Gross operating margin | 9900 | €49,540 | €47,633 | -€1,907 | -3.8% |
| Operating profit (loss) | 9901 | €16,596 | €13,502 | -€3,094 | -18.6% |
| Financial charges | 65/66B | €4,121 | €3,855 | -€266 | -6.5% |
| Recurring financial charges | 65 | €4,121 | €3,855 | -€266 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €12,475 | €9,647 | -€2,828 | -22.7% |
| Income taxes | 67/77 | €3,480 | €2,656 | -€824 | -23.7% |
| Profit (loss) for the period | 9904 | €8,995 | €6,991 | -€2,004 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,995 | €6,991 | -€2,004 | -22.3% |
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 18 October 2026 via checked.be.