M13 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.
M13 IMMO
Largest movements
- Tangible fixed assets -€20,267
down €20,267 (-3.2%), from €637,401 to €617,134
- Debts after one year -€34,845
down €34,845 (-6.4%), from €541,147 to €506,303
- Profit (loss) carried forward +€10,269
up €10,269 (+16.8%), from -€61,066 to -€50,797
- Gross operating margin -€23,555
down €23,555 (-31.0%), from €75,892 to €52,337
- Financial charges -€791
down €791 (-6.0%), from €13,123 to €12,332
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 | €643,092 | €623,002 | -€20,089 | -3.1% |
| Fixed assets | 21/28 | €637,401 | €617,134 | -€20,267 | -3.2% |
| Tangible fixed assets | 22/27 | €637,401 | €617,134 | -€20,267 | -3.2% |
| Land and buildings | 22 | €637,401 | €617,134 | -€20,267 | -3.2% |
| Current assets | 29/58 | €5,691 | €5,869 | +€177 | +3.1% |
| Cash at bank and in hand | 54/58 | €5,691 | €5,869 | +€177 | +3.1% |
| Total equity and liabilities | 10/49 | €643,092 | €623,002 | -€20,089 | -3.1% |
| Equity | 10/15 | €58,934 | €69,203 | +€10,269 | +17.4% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,066 | -€50,797 | +€10,269 | +16.8% |
| Amounts payable | 17/49 | €584,158 | €553,799 | -€30,359 | -5.2% |
| Amounts payable after more than one year | 17 | €541,147 | €506,303 | -€34,845 | -6.4% |
| Financial debts | 170/4 | €541,147 | €506,303 | -€34,845 | -6.4% |
| Amounts payable within one year | 42/48 | €38,611 | €43,097 | +€4,486 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €34,092 | €34,845 | +€753 | +2.2% |
| Trade debts | 44 | €4,519 | €8,252 | +€3,733 | +82.6% |
| Suppliers | 440/4 | €4,519 | €8,252 | +€3,733 | +82.6% |
| Accrued charges and deferred income | 492/3 | €4,400 | €4,400 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,267 | €20,267 | = | 0.0% |
| Other operating charges | 640/8 | €9,288 | €9,578 | +€290 | +3.1% |
| Gross operating margin | 9900 | €75,892 | €52,337 | -€23,555 | -31.0% |
| Operating profit (loss) | 9901 | €46,337 | €22,492 | -€23,845 | -51.5% |
| Financial income | 75/76B | - | €110 | +€110 | |
| Recurring financial income | 75 | - | €110 | +€110 | |
| Financial charges | 65/66B | €13,123 | €12,332 | -€791 | -6.0% |
| Recurring financial charges | 65 | €13,123 | €12,332 | -€791 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €33,214 | €10,269 | -€22,944 | -69.1% |
| Profit (loss) for the period | 9904 | €33,214 | €10,269 | -€22,944 | -69.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,214 | €10,269 | -€22,944 | -69.1% |
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.