"M.A. IMMO": 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.
"M.A. IMMO"
Largest movements
- Tangible fixed assets -€100,770
down €100,770 (-5.9%), from €1.7m to €1.6m
of which Land and buildings: -€100,000
- Debts after one year -€95,628
down €95,628 (-6.1%), from €1.6m to €1.5m
- Other debts -€30,000
down €30,000 (-14.0%), from €213,661 to €183,661
- Gross operating margin +€39,429
up €39,429 (+32.5%), from €121,227 to €160,655
- Other operating charges +€27,327
up €27,327 (+1308.6%), from €2,088 to €29,415
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 | €1,737,403 | €1,639,921 | -€97,482 | -5.6% |
| Fixed assets | 21/28 | €1,713,214 | €1,612,443 | -€100,770 | -5.9% |
| Tangible fixed assets | 22/27 | €1,713,214 | €1,612,443 | -€100,770 | -5.9% |
| Land and buildings | 22 | €1,709,017 | €1,609,017 | -€100,000 | -5.9% |
| Plant, machinery and equipment | 23 | €384 | €169 | -€215 | -56.0% |
| Other tangible fixed assets | 26 | €3,813 | €3,258 | -€556 | -14.6% |
| Current assets | 29/58 | €24,189 | €27,478 | +€3,289 | +13.6% |
| Amounts receivable within one year | 40/41 | €17,950 | €17,532 | -€418 | -2.3% |
| Trade receivables | 40 | €17,532 | €17,532 | = | 0.0% |
| Other amounts receivable | 41 | €418 | €0 | -€418 | -100.0% |
| Cash at bank and in hand | 54/58 | €6,239 | €9,946 | +€3,706 | +59.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,737,403 | €1,639,921 | -€97,482 | -5.6% |
| Equity | 10/15 | -€150,765 | -€135,284 | +€15,480 | +10.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€200,765 | -€185,284 | +€15,480 | +7.7% |
| Amounts payable | 17/49 | €1,888,167 | €1,775,205 | -€112,962 | -6.0% |
| Amounts payable after more than one year | 17 | €1,579,554 | €1,483,925 | -€95,628 | -6.1% |
| Financial debts | 170/4 | €1,579,554 | €1,483,925 | -€95,628 | -6.1% |
| Amounts payable within one year | 42/48 | €308,614 | €291,280 | -€17,334 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €94,814 | €95,628 | +€815 | +0.9% |
| Trade debts | 44 | €65 | €11,917 | +€11,852 | +18270.2% |
| Suppliers | 440/4 | €65 | €11,917 | +€11,852 | +18270.2% |
| Taxes, remuneration and social security | 45 | €75 | €75 | = | 0.0% |
| Taxes | 450/3 | €75 | €75 | = | 0.0% |
| Other amounts payable | 47/48 | €213,661 | €183,661 | -€30,000 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,770 | €100,770 | = | 0.0% |
| Other operating charges | 640/8 | €2,088 | €29,415 | +€27,327 | +1308.6% |
| Gross operating margin | 9900 | €121,227 | €160,655 | +€39,429 | +32.5% |
| Operating profit (loss) | 9901 | €18,368 | €30,469 | +€12,101 | +65.9% |
| Financial charges | 65/66B | €15,025 | €14,989 | -€36 | -0.2% |
| Recurring financial charges | 65 | €15,025 | €14,989 | -€36 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €3,343 | €15,480 | +€12,138 | +363.1% |
| Profit (loss) for the period | 9904 | €3,343 | €15,480 | +€12,138 | +363.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,343 | €15,480 | +€12,138 | +363.1% |
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 9 October 2026 via checked.be.