MBA 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.
MBA IMMO
Largest movements
- Tangible fixed assets -€26,342
down €26,342 (-3.2%), from €821,686 to €795,344
of which Land and buildings: -€25,222
- Debts after one year -€30,178
down €30,178 (-7.9%), from €381,647 to €351,469
of which Financial debts: -€68,178
- Reserves +€29,966
up €29,966 (+10.3%), from €291,760 to €321,726
of which Distributable reserves: +€29,966
- Accrued charges and deferred income -€27,700
no longer reported in 2025 (was €27,700)
No income-statement line moved by more than 1% of the activity.
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 | €821,938 | €797,289 | -€24,648 | -3.0% |
| Fixed assets | 21/28 | €821,686 | €795,344 | -€26,342 | -3.2% |
| Tangible fixed assets | 22/27 | €821,686 | €795,344 | -€26,342 | -3.2% |
| Land and buildings | 22 | €818,326 | €793,104 | -€25,222 | -3.1% |
| Plant, machinery and equipment | 23 | €3,360 | €2,240 | -€1,120 | -33.3% |
| Current assets | 29/58 | €251 | €1,946 | +€1,694 | +673.8% |
| Amounts receivable within one year | 40/41 | - | €133 | +€133 | |
| Other amounts receivable | 41 | - | €133 | +€133 | |
| Cash at bank and in hand | 54/58 | €251 | €73 | -€179 | -71.1% |
| Deferred charges and accrued income | 490/1 | - | €1,740 | +€1,740 | |
| Total equity and liabilities | 10/49 | €821,938 | €797,289 | -€24,648 | -3.0% |
| Equity | 10/15 | €310,360 | €340,326 | +€29,966 | +9.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €291,760 | €321,726 | +€29,966 | +10.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €289,900 | €319,866 | +€29,966 | +10.3% |
| Amounts payable | 17/49 | €511,578 | €456,964 | -€54,614 | -10.7% |
| Amounts payable after more than one year | 17 | €381,647 | €351,469 | -€30,178 | -7.9% |
| Financial debts | 170/4 | €215,647 | €147,469 | -€68,178 | -31.6% |
| Other amounts payable | 178/9 | €166,000 | €204,000 | +€38,000 | +22.9% |
| Amounts payable within one year | 42/48 | €102,231 | €105,495 | +€3,263 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €67,354 | €68,178 | +€824 | +1.2% |
| Taxes, remuneration and social security | 45 | €28,373 | €26,680 | -€1,693 | -6.0% |
| Taxes | 450/3 | €28,373 | €26,680 | -€1,693 | -6.0% |
| Other amounts payable | 47/48 | €6,504 | €10,636 | +€4,132 | +63.5% |
| Accrued charges and deferred income | 492/3 | €27,700 | - | -€27,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,342 | €26,342 | = | 0.0% |
| Other operating charges | 640/8 | €8,042 | €7,488 | -€554 | -6.9% |
| Gross operating margin | 9900 | €82,801 | €83,184 | +€382 | +0.5% |
| Operating profit (loss) | 9901 | €48,417 | €49,354 | +€936 | +1.9% |
| Financial charges | 65/66B | €5,084 | €4,392 | -€693 | -13.6% |
| Recurring financial charges | 65 | €5,084 | €4,392 | -€693 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €43,333 | €44,962 | +€1,629 | +3.8% |
| Income taxes | 67/77 | €14,674 | €14,996 | +€322 | +2.2% |
| Profit (loss) for the period | 9904 | €28,659 | €29,966 | +€1,307 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,659 | €29,966 | +€1,307 | +4.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.