MASS-IMMO INVEST: what changed
What changed
MASS-IMMO INVEST
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€6,318
2024 · €800+€5,518
Equity
€42,828
2024 · €36,510+€6,318
Cash
€472
2024 · €343+€128
Balance sheet total
€802,527
2024 · €356,496+€446,031
Largest movements
Assets
- Tangible fixed assets +€441,139
up €441,139 (+226%), from €195,532 to €636,671
of which Land and buildings: +€455,062
- Stocks and contracts +€8,138
up €8,138 (+7.1%), from €113,886 to €122,024
Equity and liabilities
- Debts after one year +€330,698
up €330,698 (+173%), from €191,149 to €521,847
- Other debts +€72,655
up €72,655 (+74.6%), from €97,420 to €170,075
- Trade debts +€21,364
up €21,364 (+191%), from €11,171 to €32,534
- Current portion of long-term debt +€12,975
up €12,975 (+93.0%), from €13,949 to €26,924
Income statement
- Gross operating margin +€19,762
up €19,762 (+89.5%), from €22,076 to €41,837
- Financial charges +€13,682
up €13,682 (+222%), from €6,159 to €19,840
of which Financial charges: +€8,890
- Depreciation +€986
up €986 (+9.1%), from €10,839 to €11,824
- Taxes +€984
up €984 (+115%), from €857 to €1,841
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€800
Gross operating margin
+€19,762
Depreciation
-€986
Other operating charges
-€170
Other operating items
+€1,578
Financial charges
-€13,682
Taxes
-€984
Result 2025
€6,318
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€109,419
Investment
-€452,963
Financing
+€343,673
Cash 2024
€343
From operations (derived)
+€109,419
Net result for the year
+€6,318
Depreciation
+€11,824
Receivables after one year
-€2,010
Stocks and contracts
-€8,138
Receivables within one year
+€5,384
Trade debts
+€21,364
Tax, wage and social debts
+€2,021
Other debts
+€72,655
Investment (derived)
-€452,963
Investment in fixed assets (net)
-€452,963
Financing
+€343,673
Debts after one year
+€330,698
Current portion of long-term debt
+€12,975
Cash 2025
€472
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €356,496 | €802,527 | +€446,031 | +125% |
| Fixed assets | 21/28 | €195,532 | €636,671 | +€441,139 | +226% |
| Tangible fixed assets | 22/27 | €195,532 | €636,671 | +€441,139 | +226% |
| Land and buildings | 22 | €178,152 | €633,215 | +€455,062 | +255% |
| Furniture and vehicles | 24 | €17,380 | €3,456 | -€13,923 | -80.1% |
| Current assets | 29/58 | €160,963 | €165,856 | +€4,892 | +3.0% |
| Amounts receivable after more than one year | 29 | €35,291 | €37,301 | +€2,010 | +5.7% |
| Trade receivables | 290 | €35,291 | €37,301 | +€2,010 | +5.7% |
| Stocks and contracts in progress | 3 | €113,886 | €122,024 | +€8,138 | +7.1% |
| Stocks | 30/36 | €113,886 | €122,024 | +€8,138 | +7.1% |
| Amounts receivable within one year | 40/41 | €11,443 | €6,059 | -€5,384 | -47.1% |
| Trade receivables | 40 | €5,583 | €6,059 | +€476 | +8.5% |
| Other amounts receivable | 41 | €5,860 | - | -€5,860 | |
| Cash at bank and in hand | 54/58 | €343 | €472 | +€128 | +37.4% |
| Total equity and liabilities | 10/49 | €356,496 | €802,527 | +€446,031 | +125% |
| Equity | 10/15 | €36,510 | €42,828 | +€6,318 | +17.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Contributions outside capital | 11 | €2,500 | €2,500 | = | 0.0% |
| Other | 1109/19 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €33,950 | €39,950 | +€6,000 | +17.7% |
| Distributable reserves | 133 | €33,950 | €39,950 | +€6,000 | +17.7% |
| Profit (loss) carried forward | 14 | €60 | €378 | +€318 | +528% |
| Amounts payable | 17/49 | €319,985 | €759,699 | +€439,713 | +137% |
| Amounts payable after more than one year | 17 | €191,149 | €521,847 | +€330,698 | +173% |
| Financial debts | 170/4 | €191,149 | €521,847 | +€330,698 | +173% |
| Amounts payable within one year | 42/48 | €128,836 | €237,852 | +€109,015 | +84.6% |
| Current portion of amounts payable after more than one year | 42 | €13,949 | €26,924 | +€12,975 | +93.0% |
| Trade debts | 44 | €11,171 | €32,534 | +€21,364 | +191% |
| Suppliers | 440/4 | €11,171 | €32,534 | +€21,364 | +191% |
| Taxes, remuneration and social security | 45 | €6,297 | €8,319 | +€2,021 | +32.1% |
| Taxes | 450/3 | €6,297 | €8,319 | +€2,021 | +32.1% |
| Other amounts payable | 47/48 | €97,420 | €170,075 | +€72,655 | +74.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,839 | €11,824 | +€986 | +9.1% |
| Other operating charges | 640/8 | €1,844 | €2,014 | +€170 | +9.2% |
| Non-recurring operating charges | 66A | €1,578 | - | -€1,578 | |
| Gross operating margin | 9900 | €22,076 | €41,837 | +€19,762 | +89.5% |
| Operating profit (loss) | 9901 | €7,815 | €27,999 | +€20,184 | +258% |
| Financial charges | 65/66B | €6,159 | €19,840 | +€13,682 | +222% |
| Recurring financial charges | 65 | €6,159 | €15,049 | +€8,890 | +144% |
| Non-recurring financial charges | 66B | - | €4,792 | +€4,792 | |
| Profit (loss) for the period before taxes | 9903 | €1,657 | €8,158 | +€6,502 | +392% |
| Income taxes | 67/77 | €857 | €1,841 | +€984 | +115% |
| Profit (loss) for the period | 9904 | €800 | €6,318 | +€5,518 | +689% |
| Profit (loss) for the period to be appropriated | 9905 | €800 | €6,318 | +€5,518 | +689% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.