Immo Van Meerbeeck: 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.
What changed
Immo Van Meerbeeck
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€209,707
2024 · €339,107-€129,399
Equity
€3.1m
2024 · €2.9m+€209,707
Cash
€188,460
2024 · €263,100-€74,640
Balance sheet total
€10.5m
2024 · €10.8m-€292,483
Largest movements
Assets
- Tangible fixed assets -€270,248
down €270,248 (-2.7%), from €9.9m to €9.7m
of which Land and buildings: -€276,994
Equity and liabilities
- Short-term financial debts -€1.0m
no longer reported in 2025 (was €1.0m)
- Debts after one year +€450,512
up €450,512 (+8.1%), from €5.5m to €6.0m
- Reserves +€209,707
up €209,707 (+15.8%), from €1.3m to €1.5m
of which Tax-exempt reserves: +€175,384
Income statement
- Other operating charges +€82,252
up €82,252 (+152%), from €53,969 to €136,222
- Gross operating margin -€44,818
down €44,818 (-3.2%), from €1.4m to €1.4m
- Financial charges +€14,812
up €14,812 (+6.9%), from €213,985 to €228,796
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.
Result 2024
€339,107
Gross operating margin
-€44,818
Staff costs
-€330
Depreciation
-€5,065
Write-downs
-€4,646
Provisions
+€3,118
Other operating charges
-€82,252
Financial income
-€2,199
Financial charges
-€14,812
Taxes
+€9,293
Deferred taxes and other
+€12,312
Result 2025
€209,707
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€930,741
Investment
-€527,310
Financing
-€478,070
Cash 2024
€263,100
From operations (derived)
+€930,741
Net result for the year
+€209,707
Depreciation
+€697,558
Receivables within one year
+€41,017
Deferred charges and accrued income
+€6,579
Provisions
+€98,653
Trade debts
-€18,146
Tax, wage and social debts
-€26,707
Other debts
-€79,968
Accrued charges and deferred income
+€2,048
Investment (derived)
-€527,310
Investment in fixed assets (net)
-€427,310
Current investments
-€100,000
Financing
-€478,070
Debts after one year
+€450,512
Current portion of long-term debt
+€71,418
Short-term financial debts
-€1.0m
Cash 2025
€188,460
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,789,821 | €10,497,337 | -€292,483 | -2.7% |
| Fixed assets | 21/28 | €9,948,538 | €9,678,290 | -€270,248 | -2.7% |
| Tangible fixed assets | 22/27 | €9,948,244 | €9,677,996 | -€270,248 | -2.7% |
| Land and buildings | 22 | €8,397,686 | €8,120,693 | -€276,994 | -3.3% |
| Plant, machinery and equipment | 23 | €1,536,632 | €1,546,140 | +€9,508 | +0.6% |
| Furniture and vehicles | 24 | €13,925 | €11,163 | -€2,762 | -19.8% |
| Financial fixed assets | 28 | €295 | €295 | = | 0.0% |
| Current assets | 29/58 | €841,282 | €819,047 | -€22,235 | -2.6% |
| Amounts receivable within one year | 40/41 | €62,027 | €21,010 | -€41,017 | -66.1% |
| Trade receivables | 40 | €62,027 | €21,010 | -€41,017 | -66.1% |
| Current investments | 50/53 | €500,000 | €600,000 | +€100,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €263,100 | €188,460 | -€74,640 | -28.4% |
| Deferred charges and accrued income | 490/1 | €16,155 | €9,577 | -€6,579 | -40.7% |
| Total equity and liabilities | 10/49 | €10,789,821 | €10,497,337 | -€292,483 | -2.7% |
| Equity | 10/15 | €2,893,201 | €3,102,908 | +€209,707 | +7.2% |
| Contributions | 10/11 | €200,794 | €200,794 | = | 0.0% |
| Capital | 10 | €200,794 | €200,794 | = | 0.0% |
| Issued capital | 100 | €200,794 | €200,794 | = | 0.0% |
| Reserves | 13 | €1,327,687 | €1,537,394 | +€209,707 | +15.8% |
| Non-distributable reserves | 130/1 | €20,079 | €20,079 | = | 0.0% |
| Legal reserve | 130 | €20,079 | €20,079 | = | 0.0% |
| Tax-exempt reserves | 132 | €756,266 | €931,650 | +€175,384 | +23.2% |
| Distributable reserves | 133 | €551,342 | €585,665 | +€34,323 | +6.2% |
| Profit (loss) carried forward | 14 | €1,364,720 | €1,364,720 | = | 0.0% |
| Provisions and deferred taxes | 16 | €582,064 | €680,717 | +€98,653 | +16.9% |
| Provisions for liabilities and charges | 160/5 | €329,976 | €370,367 | +€40,392 | +12.2% |
| Major repairs and maintenance | 162 | €329,976 | €370,367 | +€40,392 | +12.2% |
| Deferred taxes | 168 | €252,089 | €310,350 | +€58,261 | +23.1% |
| Amounts payable | 17/49 | €7,314,555 | €6,713,712 | -€600,844 | -8.2% |
| Amounts payable after more than one year | 17 | €5,532,349 | €5,982,861 | +€450,512 | +8.1% |
| Financial debts | 170/4 | €5,532,349 | €5,982,861 | +€450,512 | +8.1% |
| Amounts payable within one year | 42/48 | €1,782,206 | €728,803 | -€1.1m | -59.1% |
| Current portion of amounts payable after more than one year | 42 | €452,934 | €524,351 | +€71,418 | +15.8% |
| Financial debts | 43 | €1,000,000 | - | -€1.0m | |
| Credit institutions | 430/8 | €1,000,000 | - | -€1.0m | |
| Trade debts | 44 | €196,556 | €178,410 | -€18,146 | -9.2% |
| Suppliers | 440/4 | €196,556 | €178,410 | -€18,146 | -9.2% |
| Taxes, remuneration and social security | 45 | €52,748 | €26,041 | -€26,707 | -50.6% |
| Taxes | 450/3 | €52,748 | €26,041 | -€26,707 | -50.6% |
| Other amounts payable | 47/48 | €79,968 | - | -€79,968 | |
| Accrued charges and deferred income | 492/3 | - | €2,048 | +€2,048 | |
| Non-recurring operating income | 76A | €605,788 | €318,578 | -€287,210 | -47.4% |
| Remuneration, social security and pensions | 62 | €33 | €363 | +€330 | +996% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €692,493 | €697,558 | +€5,065 | +0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,646 | +€4,646 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €43,510 | €40,392 | -€3,118 | -7.2% |
| Other operating charges | 640/8 | €53,969 | €136,222 | +€82,252 | +152% |
| Gross operating margin | 9900 | €1,421,471 | €1,376,653 | -€44,818 | -3.2% |
| Operating profit (loss) | 9901 | €631,466 | €497,473 | -€133,993 | -21.2% |
| Financial income | 75/76B | €4,924 | €2,725 | -€2,199 | -44.7% |
| Recurring financial income | 75 | €4,924 | €2,725 | -€2,199 | -44.7% |
| Financial charges | 65/66B | €213,985 | €228,796 | +€14,812 | +6.9% |
| Recurring financial charges | 65 | €213,985 | €228,796 | +€14,812 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €422,405 | €271,401 | -€151,004 | -35.7% |
| Transfer from deferred taxes | 780 | €27,176 | €21,383 | -€5,793 | -21.3% |
| Transfer to deferred taxes | 680 | €97,749 | €79,645 | -€18,104 | -18.5% |
| Income taxes | 67/77 | €12,725 | €3,432 | -€9,293 | -73.0% |
| Profit (loss) for the period | 9904 | €339,107 | €209,707 | -€129,399 | -38.2% |
| Transfer from tax-exempt reserves | 789 | €81,528 | €63,550 | -€17,978 | -22.1% |
| Transfer to tax-exempt reserves | 689 | €293,247 | €238,934 | -€54,313 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €127,387 | €34,323 | -€93,064 | -73.1% |
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 23 October 2026 via checked.be.