M & D 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 & D Immo
Largest movements
- Tangible fixed assets -€13,674
down €13,674 (-5.4%), from €255,360 to €241,686
of which Land and buildings: -€6,922
- Debts after one year -€16,661
down €16,661 (-11.9%), from €139,757 to €123,096
- Other debts +€11,187
up €11,187 (+27.1%), from €41,241 to €52,428
- Profit (loss) carried forward -€8,401
down €8,401 (-17.3%), from -€48,570 to -€56,971
- Gross operating margin -€10,034
down €10,034 (-41.8%), from €24,000 to €13,966
- Other operating charges +€5,561
new in 2025: €5,561
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 | €255,371 | €241,822 | -€13,549 | -5.3% |
| Fixed assets | 21/28 | €255,360 | €241,686 | -€13,674 | -5.4% |
| Tangible fixed assets | 22/27 | €255,360 | €241,686 | -€13,674 | -5.4% |
| Land and buildings | 22 | €178,381 | €171,460 | -€6,922 | -3.9% |
| Plant, machinery and equipment | 23 | €10,206 | €7,382 | -€2,824 | -27.7% |
| Other tangible fixed assets | 26 | €66,773 | €62,845 | -€3,928 | -5.9% |
| Current assets | 29/58 | €11 | €136 | +€124 | +1107.6% |
| Amounts receivable within one year | 40/41 | €9 | €9 | = | 0.0% |
| Other amounts receivable | 41 | €9 | €9 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2 | €127 | +€124 | +5763.4% |
| Total equity and liabilities | 10/49 | €255,371 | €241,822 | -€13,549 | -5.3% |
| Equity | 10/15 | €58,038 | €49,637 | -€8,401 | -14.5% |
| Contributions | 10/11 | €66,502 | €66,502 | = | 0.0% |
| Reserves | 13 | €40,106 | €40,106 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,776 | €4,776 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,776 | €4,776 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,805 | €4,805 | = | 0.0% |
| Distributable reserves | 133 | €30,525 | €30,525 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,570 | -€56,971 | -€8,401 | -17.3% |
| Amounts payable | 17/49 | €197,333 | €192,185 | -€5,148 | -2.6% |
| Amounts payable after more than one year | 17 | €139,757 | €123,096 | -€16,661 | -11.9% |
| Financial debts | 170/4 | €139,757 | €123,096 | -€16,661 | -11.9% |
| Amounts payable within one year | 42/48 | €57,576 | €69,089 | +€11,513 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | €16,335 | €16,661 | +€326 | +2.0% |
| Other amounts payable | 47/48 | €41,241 | €52,428 | +€11,187 | +27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,674 | €13,674 | = | 0.0% |
| Other operating charges | 640/8 | - | €5,561 | +€5,561 | |
| Gross operating margin | 9900 | €24,000 | €13,966 | -€10,034 | -41.8% |
| Operating profit (loss) | 9901 | €10,326 | -€5,269 | -€15,596 | |
| Financial income | 75/76B | - | €200 | +€200 | |
| Recurring financial income | 75 | - | €200 | +€200 | |
| Financial charges | 65/66B | €3,348 | €3,332 | -€16 | -0.5% |
| Recurring financial charges | 65 | €3,348 | €3,332 | -€16 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €6,979 | -€8,401 | -€15,380 | |
| Profit (loss) for the period | 9904 | €6,979 | -€8,401 | -€15,380 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,979 | -€8,401 | -€15,380 |
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 7 October 2026 via checked.be.