MAO 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.
MAO IMMO
Largest movements
- Cash +€288,096
up €288,096 (+1738.4%), from €16,572 to €304,669
mainly Other debts (+€292,024) and Accrued charges and deferred income (+€119,800)
- Receivables within one year +€159,551
up €159,551 (+208.2%), from €76,628 to €236,179
of which Other amounts receivable: +€150,622
- Other debts +€292,024
up €292,024 (+968.3%), from €30,158 to €322,182
- Accrued charges and deferred income +€119,800
up €119,800 (+363.0%), from €33,000 to €152,800
- Reserves +€82,912
up €82,912 (+90.8%), from €91,331 to €174,243
of which Distributable reserves: +€82,912
- Trade debts -€38,045
down €38,045 (-6.7%), from €569,553 to €531,508
- Gross operating margin +€180,034
up €180,034, from -€14,358 to €165,677
- Other operating charges +€56,963
up €56,963 (+1615.2%), from €3,527 to €60,490
- Taxes +€5,557
up €5,557 (+203.3%), from €2,734 to €8,291
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €848,088 | €1,308,804 | +€460,715 | +54.3% |
| Fixed assets | 21/28 | €321,823 | €334,416 | +€12,593 | +3.9% |
| Tangible fixed assets | 22/27 | €312,873 | €325,466 | +€12,593 | +4.0% |
| Land and buildings | 22 | €312,873 | €299,824 | -€13,049 | -4.2% |
| Other tangible fixed assets | 26 | - | €25,642 | +€25,642 | |
| Financial fixed assets | 28 | €8,950 | €8,950 | = | 0.0% |
| Current assets | 29/58 | €526,266 | €974,388 | +€448,122 | +85.2% |
| Stocks and contracts in progress | 3 | €432,677 | €432,677 | = | 0.0% |
| Stocks | 30/36 | €432,677 | €432,677 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €76,628 | €236,179 | +€159,551 | +208.2% |
| Trade receivables | 40 | €36,941 | €45,869 | +€8,929 | +24.2% |
| Other amounts receivable | 41 | €39,688 | €190,310 | +€150,622 | +379.5% |
| Cash at bank and in hand | 54/58 | €16,572 | €304,669 | +€288,096 | +1738.4% |
| Deferred charges and accrued income | 490/1 | €388 | €863 | +€475 | +122.5% |
| Total equity and liabilities | 10/49 | €848,088 | €1,308,804 | +€460,715 | +54.3% |
| Equity | 10/15 | €173,123 | €256,035 | +€82,912 | +47.9% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €91,331 | €174,243 | +€82,912 | +90.8% |
| Non-distributable reserves | 130/1 | €784 | €784 | = | 0.0% |
| Legal reserve | 130 | €784 | €784 | = | 0.0% |
| Distributable reserves | 133 | €90,547 | €173,460 | +€82,912 | +91.6% |
| Profit (loss) carried forward | 14 | €19,292 | €19,292 | = | 0.0% |
| Provisions and deferred taxes | 16 | €37,988 | €37,988 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €37,988 | €37,988 | = | 0.0% |
| Other liabilities and charges | 164/5 | €37,988 | €37,988 | = | 0.0% |
| Amounts payable | 17/49 | €636,978 | €1,014,781 | +€377,803 | +59.3% |
| Amounts payable within one year | 42/48 | €603,978 | €861,981 | +€258,003 | +42.7% |
| Trade debts | 44 | €569,553 | €531,508 | -€38,045 | -6.7% |
| Suppliers | 440/4 | €569,553 | €531,508 | -€38,045 | -6.7% |
| Taxes, remuneration and social security | 45 | €4,267 | €8,291 | +€4,024 | +94.3% |
| Taxes | 450/3 | €4,267 | €8,291 | +€4,024 | +94.3% |
| Other amounts payable | 47/48 | €30,158 | €322,182 | +€292,024 | +968.3% |
| Accrued charges and deferred income | 492/3 | €33,000 | €152,800 | +€119,800 | +363.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,769 | €14,551 | -€1,218 | -7.7% |
| Other operating charges | 640/8 | €3,527 | €60,490 | +€56,963 | +1615.2% |
| Gross operating margin | 9900 | -€14,358 | €165,677 | +€180,034 | |
| Operating profit (loss) | 9901 | -€33,654 | €90,635 | +€124,289 | |
| Financial income | 75/76B | €284 | €670 | +€386 | +135.9% |
| Recurring financial income | 75 | €284 | €670 | +€386 | +135.9% |
| Financial charges | 65/66B | €61 | €101 | +€41 | +67.2% |
| Recurring financial charges | 65 | €61 | €101 | +€41 | +67.2% |
| Profit (loss) for the period before taxes | 9903 | -€33,431 | €91,203 | +€124,634 | |
| Income taxes | 67/77 | €2,734 | €8,291 | +€5,557 | +203.3% |
| Profit (loss) for the period | 9904 | -€36,165 | €82,912 | +€119,077 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,165 | €82,912 | +€119,077 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.