MDU 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.
MDU IMMO
Largest movements
- Tangible fixed assets +€31,355
up €31,355 (+1.5%), from €2.1m to €2.1m
- Other debts +€117,120
up €117,120 (+25.3%), from €462,141 to €579,261
- Debts after one year -€98,507
down €98,507 (-6.0%), from €1.7m to €1.6m
of which Financial debts: -€98,507
- Financial charges -€56,703
down €56,703 (-50.1%), from €113,247 to €56,544
- Other operating charges -€33,528
down €33,528 (-51.5%), from €65,119 to €31,591
- Gross operating margin -€12,526
down €12,526 (-8.4%), from €149,060 to €136,534
- Depreciation +€2,414
up €2,414 (+4.0%), from €60,534 to €62,948
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 | €2,445,286 | €2,452,183 | +€6,897 | +0.3% |
| Fixed assets | 21/28 | €2,107,735 | €2,139,090 | +€31,355 | +1.5% |
| Tangible fixed assets | 22/27 | €2,107,735 | €2,139,090 | +€31,355 | +1.5% |
| Land and buildings | 22 | €2,107,735 | €2,139,090 | +€31,355 | +1.5% |
| Current assets | 29/58 | €337,550 | €313,093 | -€24,458 | -7.2% |
| Amounts receivable after more than one year | 29 | €312,028 | €312,028 | = | 0.0% |
| Other amounts receivable | 291 | €312,028 | €312,028 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €154 | +€154 | |
| Other amounts receivable | 41 | - | €154 | +€154 | |
| Cash at bank and in hand | 54/58 | €4,022 | €910 | -€3,112 | -77.4% |
| Deferred charges and accrued income | 490/1 | €21,500 | - | -€21,500 | |
| Total equity and liabilities | 10/49 | €2,445,286 | €2,452,183 | +€6,897 | +0.3% |
| Equity | 10/15 | €183,770 | €169,390 | -€14,380 | -7.8% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €61,438 | €61,438 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,000 | €6,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,000 | €6,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €55,438 | €55,438 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,332 | €47,952 | -€14,380 | -23.1% |
| Amounts payable | 17/49 | €2,261,516 | €2,282,793 | +€21,278 | +0.9% |
| Amounts payable after more than one year | 17 | €1,652,620 | €1,554,113 | -€98,507 | -6.0% |
| Financial debts | 170/4 | €1,613,320 | €1,514,813 | -€98,507 | -6.1% |
| Other amounts payable | 178/9 | €39,300 | €39,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €608,896 | €728,230 | +€119,334 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €95,309 | €96,755 | +€1,446 | +1.5% |
| Trade debts | 44 | €33,514 | €52,214 | +€18,701 | +55.8% |
| Suppliers | 440/4 | €33,514 | €52,214 | +€18,701 | +55.8% |
| Taxes, remuneration and social security | 45 | €17,933 | - | -€17,933 | |
| Taxes | 450/3 | €17,933 | - | -€17,933 | |
| Other amounts payable | 47/48 | €462,141 | €579,261 | +€117,120 | +25.3% |
| Accrued charges and deferred income | 492/3 | - | €450 | +€450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,534 | €62,948 | +€2,414 | +4.0% |
| Other operating charges | 640/8 | €65,119 | €31,591 | -€33,528 | -51.5% |
| Gross operating margin | 9900 | €149,060 | €136,534 | -€12,526 | -8.4% |
| Operating profit (loss) | 9901 | €23,407 | €41,995 | +€18,588 | +79.4% |
| Financial income | 75/76B | - | €169 | +€169 | |
| Recurring financial income | 75 | - | €169 | +€169 | |
| Financial charges | 65/66B | €113,247 | €56,544 | -€56,703 | -50.1% |
| Recurring financial charges | 65 | €113,247 | €56,544 | -€56,703 | -50.1% |
| Profit (loss) for the period before taxes | 9903 | -€89,840 | -€14,380 | +€75,460 | +84.0% |
| Transfer from deferred taxes | 780 | €18,479 | - | -€18,479 | |
| Profit (loss) for the period | 9904 | -€71,360 | -€14,380 | +€56,980 | +79.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,360 | -€14,380 | +€56,980 | +79.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.