MAY 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.
MAY IMMO
Largest movements
- Tangible fixed assets -€16,800
down €16,800 (-2.9%), from €574,000 to €557,200
- Receivables within one year +€11,000
up €11,000 (+43.7%), from €25,150 to €36,150
- Debts after one year -€42,986
down €42,986 (-13.9%), from €309,439 to €266,453
- Profit (loss) carried forward +€24,327
up €24,327 (+18.0%), from €134,776 to €159,103
- Other debts +€18,280
up €18,280 (+20949.1%), from €87 to €18,367
- Trade debts +€14,591
up €14,591 (+144.2%), from €10,122 to €24,713
- Tax, wage and social debts -€9,453
down €9,453 (-13.0%), from €72,704 to €63,251
of which Taxes: -€10,345
- Gross operating margin +€9,657
up €9,657 (+10.6%), from €91,429 to €101,086
- Staff costs +€6,217
up €6,217 (+18.8%), from €33,089 to €39,307
- Financial charges -€1,831
down €1,831 (-17.1%), from €10,692 to €8,861
- Taxes +€1,254
up €1,254 (+14.8%), from €8,477 to €9,731
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 | €599,411 | €596,874 | -€2,537 | -0.4% |
| Fixed assets | 21/28 | €574,000 | €557,200 | -€16,800 | -2.9% |
| Tangible fixed assets | 22/27 | €574,000 | €557,200 | -€16,800 | -2.9% |
| Land and buildings | 22 | €574,000 | €557,200 | -€16,800 | -2.9% |
| Current assets | 29/58 | €25,411 | €39,674 | +€14,263 | +56.1% |
| Amounts receivable within one year | 40/41 | €25,150 | €36,150 | +€11,000 | +43.7% |
| Other amounts receivable | 41 | €25,150 | €36,150 | +€11,000 | +43.7% |
| Cash at bank and in hand | 54/58 | €236 | €3,524 | +€3,288 | +1394.2% |
| Deferred charges and accrued income | 490/1 | €25 | - | -€25 | |
| Total equity and liabilities | 10/49 | €599,411 | €596,874 | -€2,537 | -0.4% |
| Equity | 10/15 | €156,776 | €181,103 | +€24,327 | +15.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,776 | €159,103 | +€24,327 | +18.0% |
| Amounts payable | 17/49 | €442,635 | €415,770 | -€26,864 | -6.1% |
| Amounts payable after more than one year | 17 | €309,439 | €266,453 | -€42,986 | -13.9% |
| Financial debts | 170/4 | €309,439 | €266,453 | -€42,986 | -13.9% |
| Amounts payable within one year | 42/48 | €124,960 | €149,317 | +€24,357 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €42,047 | €42,986 | +€939 | +2.2% |
| Trade debts | 44 | €10,122 | €24,713 | +€14,591 | +144.2% |
| Suppliers | 440/4 | €10,122 | €24,713 | +€14,591 | +144.2% |
| Taxes, remuneration and social security | 45 | €72,704 | €63,251 | -€9,453 | -13.0% |
| Taxes | 450/3 | €64,379 | €54,034 | -€10,345 | -16.1% |
| Remuneration and social security | 454/9 | €8,325 | €9,217 | +€892 | +10.7% |
| Other amounts payable | 47/48 | €87 | €18,367 | +€18,280 | +20949.1% |
| Accrued charges and deferred income | 492/3 | €8,236 | - | -€8,236 | |
| Remuneration, social security and pensions | 62 | €33,089 | €39,307 | +€6,217 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,800 | €16,800 | = | 0.0% |
| Other operating charges | 640/8 | €1,250 | €2,060 | +€810 | +64.8% |
| Gross operating margin | 9900 | €91,429 | €101,086 | +€9,657 | +10.6% |
| Operating profit (loss) | 9901 | €40,289 | €42,919 | +€2,629 | +6.5% |
| Financial charges | 65/66B | €10,692 | €8,861 | -€1,831 | -17.1% |
| Recurring financial charges | 65 | €10,692 | €8,861 | -€1,831 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €29,598 | €34,058 | +€4,460 | +15.1% |
| Income taxes | 67/77 | €8,477 | €9,731 | +€1,254 | +14.8% |
| Profit (loss) for the period | 9904 | €21,120 | €24,327 | +€3,207 | +15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,120 | €24,327 | +€3,207 | +15.2% |
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 1 October 2026 via checked.be.