M.G.M. IMMO: 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.
M.G.M. IMMO
Largest movements
- Receivables within one year +€23,259
up €23,259, from €0 to €23,259
of which Trade receivables: +€21,138
- Tangible fixed assets -€15,407
down €15,407 (-4.9%), from €316,733 to €301,326
- Deferred charges and accrued income +€9,634
up €9,634 (+256%), from €3,762 to €13,395
- Debts after one year -€19,317
down €19,317 (-11.2%), from €172,755 to €153,438
- Accrued charges and deferred income +€18,750
up €18,750, from €0 to €18,750
- Trade debts +€16,079
up €16,079 (+405%), from €3,974 to €20,053
- Profit (loss) carried forward +€6,189
up €6,189 (+11.2%), from €55,459 to €61,647
- Other debts -€3,600
down €3,600 (-9.1%), from €39,387 to €35,787
- Depreciation -€13,633
down €13,633 (-46.9%), from €29,041 to €15,407
- Taxes +€3,350
up €3,350 (+4,391%), from €76 to €3,427
- Other operating charges +€3,010
up €3,010 (+78.9%), from €3,816 to €6,826
- Gross operating margin -€864
down €864 (-2.0%), from €43,555 to €42,691
- Financial charges +€519
up €519 (+5.0%), from €10,324 to €10,843
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 | €321,942 | €339,919 | +€17,977 | +5.6% |
| Fixed assets | 21/28 | €316,733 | €301,326 | -€15,407 | -4.9% |
| Tangible fixed assets | 22/27 | €316,733 | €301,326 | -€15,407 | -4.9% |
| Land and buildings | 22 | €316,733 | €301,326 | -€15,407 | -4.9% |
| Current assets | 29/58 | €5,208 | €38,593 | +€33,385 | +641% |
| Amounts receivable within one year | 40/41 | €0 | €23,259 | +€23,259 | |
| Trade receivables | 40 | - | €21,138 | +€21,138 | |
| Other amounts receivable | 41 | €0 | €2,121 | +€2,121 | |
| Cash at bank and in hand | 54/58 | €1,447 | €1,938 | +€492 | +34.0% |
| Deferred charges and accrued income | 490/1 | €3,762 | €13,395 | +€9,634 | +256% |
| Total equity and liabilities | 10/49 | €321,942 | €339,919 | +€17,977 | +5.6% |
| Equity | 10/15 | €82,959 | €89,147 | +€6,189 | +7.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,459 | €61,647 | +€6,189 | +11.2% |
| Amounts payable | 17/49 | €238,983 | €250,772 | +€11,789 | +4.9% |
| Amounts payable after more than one year | 17 | €172,755 | €153,438 | -€19,317 | -11.2% |
| Financial debts | 170/4 | €172,755 | €153,438 | -€19,317 | -11.2% |
| Amounts payable within one year | 42/48 | €66,228 | €78,584 | +€12,356 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €18,408 | €19,317 | +€910 | +4.9% |
| Trade debts | 44 | €3,974 | €20,053 | +€16,079 | +405% |
| Suppliers | 440/4 | €3,974 | €20,053 | +€16,079 | +405% |
| Taxes, remuneration and social security | 45 | €4,460 | €3,427 | -€1,033 | -23.2% |
| Taxes | 450/3 | €4,460 | €3,427 | -€1,033 | -23.2% |
| Other amounts payable | 47/48 | €39,387 | €35,787 | -€3,600 | -9.1% |
| Accrued charges and deferred income | 492/3 | €0 | €18,750 | +€18,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,041 | €15,407 | -€13,633 | -46.9% |
| Other operating charges | 640/8 | €3,816 | €6,826 | +€3,010 | +78.9% |
| Gross operating margin | 9900 | €43,555 | €42,691 | -€864 | -2.0% |
| Operating profit (loss) | 9901 | €10,699 | €20,458 | +€9,760 | +91.2% |
| Financial charges | 65/66B | €10,324 | €10,843 | +€519 | +5.0% |
| Recurring financial charges | 65 | €10,324 | €10,843 | +€519 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €374 | €9,615 | +€9,241 | +2,468% |
| Income taxes | 67/77 | €76 | €3,427 | +€3,350 | +4,391% |
| Profit (loss) for the period | 9904 | €298 | €6,189 | +€5,891 | +1,976% |
| Profit (loss) for the period to be appropriated | 9905 | €298 | €6,189 | +€5,891 | +1,976% |
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 24 October 2026 via checked.be.