M3L 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.
M3L IMMO
Largest movements
- Tangible fixed assets -€20,644
down €20,644 (-2.8%), from €736,981 to €716,337
- Cash +€8,239
up €8,239 (+181%), from €4,562 to €12,801
mainly Depreciation (+€20,644) and Receivables within one year (+€2,643)
- Debts after one year -€12,326
down €12,326 (-8.2%), from €150,638 to €138,312
- Gross operating margin +€3,105
up €3,105 (+13.1%), from €23,636 to €26,741
- Other operating charges +€386
up €386 (+15.1%), from €2,548 to €2,934
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 | €754,887 | €740,723 | -€14,165 | -1.9% |
| Fixed assets | 21/28 | €736,981 | €716,337 | -€20,644 | -2.8% |
| Tangible fixed assets | 22/27 | €736,981 | €716,337 | -€20,644 | -2.8% |
| Land and buildings | 22 | €736,981 | €716,337 | -€20,644 | -2.8% |
| Current assets | 29/58 | €17,906 | €24,385 | +€6,479 | +36.2% |
| Amounts receivable within one year | 40/41 | €13,344 | €10,701 | -€2,643 | -19.8% |
| Other amounts receivable | 41 | €13,344 | €10,701 | -€2,643 | -19.8% |
| Cash at bank and in hand | 54/58 | €4,562 | €12,801 | +€8,239 | +181% |
| Deferred charges and accrued income | 490/1 | - | €883 | +€883 | |
| Total equity and liabilities | 10/49 | €754,887 | €740,723 | -€14,165 | -1.9% |
| Equity | 10/15 | €121,737 | €121,048 | -€689 | -0.6% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,263 | -€53,952 | -€689 | -1.3% |
| Amounts payable | 17/49 | €633,150 | €619,675 | -€13,476 | -2.1% |
| Amounts payable after more than one year | 17 | €150,638 | €138,312 | -€12,326 | -8.2% |
| Financial debts | 170/4 | €150,638 | €138,312 | -€12,326 | -8.2% |
| Amounts payable within one year | 42/48 | €482,512 | €481,362 | -€1,150 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €12,038 | €12,326 | +€287 | +2.4% |
| Trade debts | 44 | €1,008 | - | -€1,008 | |
| Suppliers | 440/4 | €1,008 | - | -€1,008 | |
| Other amounts payable | 47/48 | €469,466 | €469,037 | -€429 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,644 | €20,644 | = | 0.0% |
| Other operating charges | 640/8 | €2,548 | €2,934 | +€386 | +15.1% |
| Gross operating margin | 9900 | €23,636 | €26,741 | +€3,105 | +13.1% |
| Operating profit (loss) | 9901 | €444 | €3,163 | +€2,719 | +612% |
| Financial income | 75/76B | €284 | €322 | +€38 | +13.4% |
| Recurring financial income | 75 | €284 | €322 | +€38 | +13.4% |
| Financial charges | 65/66B | €4,390 | €4,174 | -€216 | -4.9% |
| Recurring financial charges | 65 | €4,390 | €4,174 | -€216 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,662 | -€689 | +€2,974 | +81.2% |
| Profit (loss) for the period | 9904 | -€3,662 | -€689 | +€2,974 | +81.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,662 | -€689 | +€2,974 | +81.2% |
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 21 October 2026 via checked.be.