M.E.R. 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.E.R. IMMO
Largest movements
- Cash +€12,206
up €12,206 (+475.1%), from €2,569 to €14,775
mainly Net result for the year (+€17,341) and Tax, wage and social debts (+€5,827)
- Current investments +€6,000
up €6,000 (+2.0%), from €300,000 to €306,000
- Reserves +€17,341
up €17,341 (+17.6%), from €98,652 to €115,992
of which Distributable reserves: +€17,341
- Tax, wage and social debts +€5,827
up €5,827, from €0 to €5,827
- Financial income -€1,466
down €1,466 (-14.4%), from €10,166 to €8,700
- Depreciation +€865
up €865 (+60.9%), from €1,420 to €2,285
- Gross operating margin +€439
up €439 (+1.9%), from €22,828 to €23,267
- Taxes -€296
down €296 (-3.4%), from €8,734 to €8,437
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 | €478,812 | €496,917 | +€18,105 | +3.8% |
| Fixed assets | 21/28 | €175,426 | €176,142 | +€716 | +0.4% |
| Tangible fixed assets | 22/27 | €175,426 | €176,142 | +€716 | +0.4% |
| Land and buildings | 22 | €171,351 | €170,484 | -€866 | -0.5% |
| Plant, machinery and equipment | 23 | €4,076 | €5,658 | +€1,582 | +38.8% |
| Current assets | 29/58 | €303,385 | €320,775 | +€17,389 | +5.7% |
| Amounts receivable within one year | 40/41 | €816 | €0 | -€816 | -100.0% |
| Other amounts receivable | 41 | €816 | €0 | -€816 | -100.0% |
| Current investments | 50/53 | €300,000 | €306,000 | +€6,000 | +2.0% |
| Cash at bank and in hand | 54/58 | €2,569 | €14,775 | +€12,206 | +475.1% |
| Total equity and liabilities | 10/49 | €478,812 | €496,917 | +€18,105 | +3.8% |
| Equity | 10/15 | €289,652 | €306,992 | +€17,341 | +6.0% |
| Contributions | 10/11 | €191,000 | €191,000 | = | 0.0% |
| Capital | 10 | €191,000 | €191,000 | = | 0.0% |
| Issued capital | 100 | €191,000 | €191,000 | = | 0.0% |
| Reserves | 13 | €98,652 | €115,992 | +€17,341 | +17.6% |
| Non-distributable reserves | 130/1 | €19,100 | €19,100 | = | 0.0% |
| Legal reserve | 130 | €19,100 | €19,100 | = | 0.0% |
| Distributable reserves | 133 | €79,552 | €96,892 | +€17,341 | +21.8% |
| Amounts payable | 17/49 | €189,160 | €189,924 | +€764 | +0.4% |
| Amounts payable within one year | 42/48 | €189,160 | €189,924 | +€764 | +0.4% |
| Trade debts | 44 | €450 | €0 | -€450 | -100.0% |
| Suppliers | 440/4 | €450 | €0 | -€450 | -100.0% |
| Taxes, remuneration and social security | 45 | €0 | €5,827 | +€5,827 | |
| Taxes | 450/3 | €0 | €5,827 | +€5,827 | |
| Other amounts payable | 47/48 | €188,710 | €184,097 | -€4,613 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,420 | €2,285 | +€865 | +60.9% |
| Other operating charges | 640/8 | €3,718 | €3,831 | +€114 | +3.1% |
| Gross operating margin | 9900 | €22,828 | €23,267 | +€439 | +1.9% |
| Operating profit (loss) | 9901 | €17,690 | €17,150 | -€540 | -3.1% |
| Financial income | 75/76B | €10,166 | €8,700 | -€1,466 | -14.4% |
| Recurring financial income | 75 | €10,166 | €8,700 | -€1,466 | -14.4% |
| Financial charges | 65/66B | €95 | €72 | -€23 | -24.4% |
| Recurring financial charges | 65 | €95 | €72 | -€23 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €27,761 | €25,778 | -€1,983 | -7.1% |
| Income taxes | 67/77 | €8,734 | €8,437 | -€296 | -3.4% |
| Profit (loss) for the period | 9904 | €19,027 | €17,341 | -€1,687 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,027 | €17,341 | -€1,687 | -8.9% |
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 1 October 2026 via checked.be.