M&S 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&S Immo
Largest movements
- Tangible fixed assets +€290,650
up €290,650 (+90.1%), from €322,643 to €613,293
- Deferred charges and accrued income +€30,000
new in 2025: €30,000
- Debts after one year +€339,247
up €339,247 (+82.5%), from €411,343 to €750,590
- Profit (loss) carried forward -€36,559
down €36,559 (-96.1%), from -€38,038 to -€74,597
- Trade debts +€18,020
up €18,020 (+1462.8%), from €1,232 to €19,252
- Gross operating margin +€13,305
new in 2025: €13,305
- Depreciation +€6,993
up €6,993 (+296.7%), from €2,357 to €9,350
- Other operating charges +€6,183
up €6,183 (+18.0%), from €34,443 to €40,625
- Financial charges -€187
down €187, from €75 to -€111
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 | €374,537 | €695,245 | +€320,708 | +85.6% |
| Fixed assets | 21/28 | €322,643 | €613,293 | +€290,650 | +90.1% |
| Tangible fixed assets | 22/27 | €322,643 | €613,293 | +€290,650 | +90.1% |
| Land and buildings | 22 | €322,643 | €613,293 | +€290,650 | +90.1% |
| Current assets | 29/58 | €51,893 | €81,952 | +€30,058 | +57.9% |
| Cash at bank and in hand | 54/58 | €51,893 | €51,952 | +€58 | +0.1% |
| Deferred charges and accrued income | 490/1 | - | €30,000 | +€30,000 | |
| Total equity and liabilities | 10/49 | €374,537 | €695,245 | +€320,708 | +85.6% |
| Equity | 10/15 | -€38,038 | -€74,597 | -€36,559 | -96.1% |
| Issued capital | 100 | - | €25,000 | +€25,000 | |
| Uncalled capital | 101 | - | €25,000 | +€25,000 | |
| Profit (loss) carried forward | 14 | -€38,038 | -€74,597 | -€36,559 | -96.1% |
| Amounts payable | 17/49 | €412,575 | €769,842 | +€357,268 | +86.6% |
| Amounts payable after more than one year | 17 | €411,343 | €750,590 | +€339,247 | +82.5% |
| Financial debts | 170/4 | €411,343 | €750,590 | +€339,247 | +82.5% |
| Amounts payable within one year | 42/48 | €1,232 | €19,252 | +€18,020 | +1462.8% |
| Trade debts | 44 | €1,232 | €19,252 | +€18,020 | +1462.8% |
| Suppliers | 440/4 | €1,232 | €19,252 | +€18,020 | +1462.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,357 | €9,350 | +€6,993 | +296.7% |
| Other operating charges | 640/8 | €34,443 | €40,625 | +€6,183 | +18.0% |
| Gross operating margin | 9900 | - | €13,305 | +€13,305 | |
| Operating profit (loss) | 9901 | -€36,799 | -€36,671 | +€129 | +0.4% |
| Financial charges | 65/66B | €75 | -€111 | -€187 | |
| Recurring financial charges | 65 | €75 | -€111 | -€187 | |
| Profit (loss) for the period before taxes | 9903 | -€36,875 | -€36,559 | +€316 | +0.9% |
| Profit (loss) for the period | 9904 | -€36,875 | -€36,559 | +€316 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,875 | -€36,559 | +€316 | +0.9% |
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 9 October 2026 via checked.be.