MABO-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.
What changed
MABO-IMMO
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€61,662
2024 · €172,775-€111,113
Equity
€4.4m
2024 · €4.3m+€61,662
Cash
€764,622
2024 · €533,272+€231,350
Balance sheet total
€5.8m
2024 · €5.9m-€104,634
Largest movements
Assets
- Tangible fixed assets -€397,132
down €397,132 (-7.5%), from €5.3m to €4.9m
of which Land and buildings: -€393,158
- Cash +€231,350
up €231,350 (+43.4%), from €533,272 to €764,622
mainly Depreciation (+€428,293) and Debts after one year (+€262,500)
- Receivables within one year +€59,039
up €59,039 (+103.6%), from €56,989 to €116,027
of which Trade receivables: +€32,309
Equity and liabilities
- Current portion of long-term debt -€412,500
down €412,500 (-91.7%), from €450,000 to €37,500
- Debts after one year +€262,500
up €262,500 (+27.5%), from €954,500 to €1.2m
- Profit (loss) carried forward +€73,128
up €73,128 (+5.9%), from €1.2m to €1.3m
Income statement
- Gross operating margin -€135,702
down €135,702 (-15.9%), from €855,882 to €720,180
- Taxes -€23,374
down €23,374 (-44.6%), from €52,361 to €28,987
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.
Result 2024
€172,775
Gross operating margin
-€135,702
Staff costs
+€1,999
Depreciation
-€1,849
Other operating charges
-€1,784
Financial income
-€2,085
Financial charges
+€4,935
Taxes
+€23,374
Result 2025
€61,662
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.
From operations
+€412,511
Investment
-€31,162
Financing
-€150,000
Cash 2024
€533,272
From operations (derived)
+€412,511
Net result for the year
+€61,662
Depreciation
+€428,293
Receivables within one year
-€59,039
Deferred charges and accrued income
-€2,110
Provisions
-€3,822
Trade debts
+€14,905
Tax, wage and social debts
-€20,712
Accrued charges and deferred income
-€6,667
Investment (derived)
-€31,162
Investment in fixed assets (net)
-€31,162
Financing
-€150,000
Debts after one year
+€262,500
Current portion of long-term debt
-€412,500
Cash 2025
€764,622
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,867,710 | €5,763,076 | -€104,634 | -1.8% |
| Fixed assets | 21/28 | €5,275,177 | €4,878,045 | -€397,132 | -7.5% |
| Tangible fixed assets | 22/27 | €5,275,177 | €4,878,045 | -€397,132 | -7.5% |
| Land and buildings | 22 | €5,191,163 | €4,798,006 | -€393,158 | -7.6% |
| Plant, machinery and equipment | 23 | €82,033 | €70,034 | -€11,999 | -14.6% |
| Furniture and vehicles | 24 | €1,980 | €10,005 | +€8,025 | +405.2% |
| Current assets | 29/58 | €592,533 | €885,031 | +€292,498 | +49.4% |
| Amounts receivable within one year | 40/41 | €56,989 | €116,027 | +€59,039 | +103.6% |
| Trade receivables | 40 | €56,844 | €89,152 | +€32,309 | +56.8% |
| Other amounts receivable | 41 | €145 | €26,875 | +€26,730 | +18428.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €533,272 | €764,622 | +€231,350 | +43.4% |
| Deferred charges and accrued income | 490/1 | €2,272 | €4,382 | +€2,110 | +92.9% |
| Total equity and liabilities | 10/49 | €5,867,710 | €5,763,076 | -€104,634 | -1.8% |
| Equity | 10/15 | €4,326,906 | €4,388,568 | +€61,662 | +1.4% |
| Contributions | 10/11 | €2,883,525 | €2,883,525 | = | 0.0% |
| Reserves | 13 | €199,201 | €187,735 | -€11,466 | -5.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €156,848 | €145,382 | -€11,466 | -7.3% |
| Distributable reserves | 133 | €42,353 | €42,353 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,244,180 | €1,317,308 | +€73,128 | +5.9% |
| Provisions and deferred taxes | 16 | €52,283 | €48,461 | -€3,822 | -7.3% |
| Deferred taxes | 168 | €52,283 | €48,461 | -€3,822 | -7.3% |
| Amounts payable | 17/49 | €1,488,520 | €1,326,047 | -€162,474 | -10.9% |
| Amounts payable after more than one year | 17 | €954,500 | €1,217,000 | +€262,500 | +27.5% |
| Financial debts | 170/4 | €954,500 | €1,217,000 | +€262,500 | +27.5% |
| Amounts payable within one year | 42/48 | €515,946 | €97,639 | -€418,307 | -81.1% |
| Current portion of amounts payable after more than one year | 42 | €450,000 | €37,500 | -€412,500 | -91.7% |
| Trade debts | 44 | €10,437 | €25,342 | +€14,905 | +142.8% |
| Suppliers | 440/4 | €10,437 | €25,342 | +€14,905 | +142.8% |
| Taxes, remuneration and social security | 45 | €55,338 | €34,626 | -€20,712 | -37.4% |
| Taxes | 450/3 | €44,717 | €23,878 | -€20,839 | -46.6% |
| Remuneration and social security | 454/9 | €10,621 | €10,748 | +€127 | +1.2% |
| Other amounts payable | 47/48 | €171 | €171 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €18,075 | €11,408 | -€6,667 | -36.9% |
| Non-recurring operating income | 76A | €41,007 | €20,694 | -€20,312 | -49.5% |
| Remuneration, social security and pensions | 62 | €120,489 | €118,490 | -€1,999 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €426,444 | €428,293 | +€1,849 | +0.4% |
| Other operating charges | 640/8 | €42,606 | €44,389 | +€1,784 | +4.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €855,882 | €720,180 | -€135,702 | -15.9% |
| Operating profit (loss) | 9901 | €266,343 | €129,007 | -€137,336 | -51.6% |
| Financial income | 75/76B | €2,085 | €1 | -€2,085 | -100.0% |
| Recurring financial income | 75 | €2,085 | €1 | -€2,085 | -100.0% |
| Financial charges | 65/66B | €47,115 | €42,180 | -€4,935 | -10.5% |
| Recurring financial charges | 65 | €47,115 | €42,180 | -€4,935 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €221,313 | €86,827 | -€134,486 | -60.8% |
| Transfer from deferred taxes | 780 | €3,822 | €3,822 | = | 0.0% |
| Income taxes | 67/77 | €52,361 | €28,987 | -€23,374 | -44.6% |
| Profit (loss) for the period | 9904 | €172,775 | €61,662 | -€111,113 | -64.3% |
| Transfer from tax-exempt reserves | 789 | €11,466 | €11,466 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €184,240 | €73,128 | -€111,113 | -60.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.