M.L. 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.L. IMMO
Largest movements
- Receivables after one year +€41,000
up €41,000, from €0 to €41,000
- Tangible fixed assets -€19,573
down €19,573 (-4.1%), from €479,659 to €460,087
- Cash +€9,428
up €9,428 (+510%), from €1,850 to €11,278
mainly Contributions, distributions and other (+€296,038) and Depreciation (+€19,573)
- Receivables within one year +€6,183
up €6,183, from €0 to €6,183
of which Other amounts receivable: +€4,496
- Profit (loss) carried forward +€302,012
up €302,012, from -€68,782 to €233,230
- Debts after one year -€268,867
down €268,867 (-88.6%), from €303,387 to €34,520
of which Other amounts payable: -€253,124
- Current portion of long-term debt -€10,683
down €10,683 (-40.4%), from €26,427 to €15,743
- Other debts +€9,127
new in 2025: €9,127
- Reserves +€8,815
up €8,815 (+21.1%), from €41,748 to €50,563
of which Distributable reserves: +€6,955
- Gross operating margin +€7,379
up €7,379 (+22.4%), from €32,968 to €40,347
- Write-downs -€7,312
down €7,312 (-100%), from €7,312 to €0
- Taxes -€2,999
down €2,999 (-100%), from €2,999 to €0
- Financial charges -€1,169
down €1,169 (-32.2%), from €3,625 to €2,456
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 | €481,509 | €518,548 | +€37,038 | +7.7% |
| Fixed assets | 21/28 | €479,659 | €460,087 | -€19,573 | -4.1% |
| Tangible fixed assets | 22/27 | €479,659 | €460,087 | -€19,573 | -4.1% |
| Land and buildings | 22 | €479,659 | €460,087 | -€19,573 | -4.1% |
| Current assets | 29/58 | €1,850 | €58,461 | +€56,611 | +3,060% |
| Amounts receivable after more than one year | 29 | €0 | €41,000 | +€41,000 | |
| Other amounts receivable | 291 | €0 | €41,000 | +€41,000 | |
| Amounts receivable within one year | 40/41 | €0 | €6,183 | +€6,183 | |
| Trade receivables | 40 | - | €1,687 | +€1,687 | |
| Other amounts receivable | 41 | €0 | €4,496 | +€4,496 | |
| Cash at bank and in hand | 54/58 | €1,850 | €11,278 | +€9,428 | +510% |
| Total equity and liabilities | 10/49 | €481,509 | €518,548 | +€37,038 | +7.7% |
| Equity | 10/15 | €146,718 | €457,590 | +€310,872 | +212% |
| Contributions | 10/11 | €62,500 | €69,500 | +€7,000 | +11.2% |
| Capital | 10 | €62,500 | €69,500 | +€7,000 | +11.2% |
| Issued capital | 100 | €62,500 | €69,500 | +€7,000 | +11.2% |
| Revaluation surpluses | 12 | €111,252 | €104,297 | -€6,955 | -6.3% |
| Reserves | 13 | €41,748 | €50,563 | +€8,815 | +21.1% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €41,748 | €48,703 | +€6,955 | +16.7% |
| Profit (loss) carried forward | 14 | -€68,782 | €233,230 | +€302,012 | |
| Amounts payable | 17/49 | €334,791 | €60,957 | -€273,834 | -81.8% |
| Amounts payable after more than one year | 17 | €303,387 | €34,520 | -€268,867 | -88.6% |
| Financial debts | 170/4 | €36,422 | €20,678 | -€15,743 | -43.2% |
| Other amounts payable | 178/9 | €266,965 | €13,842 | -€253,124 | -94.8% |
| Amounts payable within one year | 42/48 | €31,339 | €26,370 | -€4,969 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | €26,427 | €15,743 | -€10,683 | -40.4% |
| Trade debts | 44 | €387 | €0 | -€387 | -100% |
| Suppliers | 440/4 | €387 | €0 | -€387 | -100% |
| Taxes, remuneration and social security | 45 | €4,525 | €1,500 | -€3,025 | -66.8% |
| Taxes | 450/3 | €4,525 | €1,500 | -€3,025 | -66.8% |
| Other amounts payable | 47/48 | - | €9,127 | +€9,127 | |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,573 | €19,573 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,312 | €0 | -€7,312 | -100% |
| Other operating charges | 640/8 | €3,801 | €3,484 | -€317 | -8.3% |
| Gross operating margin | 9900 | €32,968 | €40,347 | +€7,379 | +22.4% |
| Operating profit (loss) | 9901 | €2,282 | €17,290 | +€15,008 | +658% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,625 | €2,456 | -€1,169 | -32.2% |
| Recurring financial charges | 65 | €3,625 | €2,456 | -€1,169 | -32.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,343 | €14,834 | +€16,177 | |
| Income taxes | 67/77 | €2,999 | €0 | -€2,999 | -100% |
| Profit (loss) for the period | 9904 | -€4,342 | €14,834 | +€19,176 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,342 | €14,834 | +€19,176 |
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 14 October 2026 via checked.be.