ML 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.
ML IMMO
Largest movements
- Tangible fixed assets +€246,164
up €246,164 (+12.2%), from €2.0m to €2.3m
of which Land and buildings: +€977,171
- Receivables within one year -€200,078
down €200,078 (-94.6%), from €211,609 to €11,531
of which Other amounts receivable: -€183,005
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€70,012
up €70,012 (+82.3%), from €85,079 to €155,091
mainly Receivables within one year (+€200,078) and Current investments (+€100,000)
- Profit (loss) carried forward +€27,485
up €27,485 (+2.1%), from €1.3m to €1.3m
- Gross operating margin +€35,036
up €35,036 (+75.0%), from €46,731 to €81,767
- Depreciation +€15,756
up €15,756 (+38.5%), from €40,978 to €56,734
- Financial income -€14,967
down €14,967 (-91.9%), from €16,285 to €1,318
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 | €2,419,009 | €2,435,743 | +€16,734 | +0.7% |
| Fixed assets | 21/28 | €2,022,217 | €2,268,381 | +€246,164 | +12.2% |
| Tangible fixed assets | 22/27 | €2,022,092 | €2,268,256 | +€246,164 | +12.2% |
| Land and buildings | 22 | €918,431 | €1,895,602 | +€977,171 | +106.4% |
| Plant, machinery and equipment | 23 | €110,883 | €105,122 | -€5,761 | -5.2% |
| Assets under construction and advance payments | 27 | €992,779 | €267,533 | -€725,246 | -73.1% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €396,792 | €167,362 | -€229,430 | -57.8% |
| Amounts receivable within one year | 40/41 | €211,609 | €11,531 | -€200,078 | -94.6% |
| Trade receivables | 40 | €20,041 | €2,968 | -€17,073 | -85.2% |
| Other amounts receivable | 41 | €191,568 | €8,562 | -€183,005 | -95.5% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €85,079 | €155,091 | +€70,012 | +82.3% |
| Deferred charges and accrued income | 490/1 | €105 | €741 | +€636 | +608.4% |
| Total equity and liabilities | 10/49 | €2,419,009 | €2,435,743 | +€16,734 | +0.7% |
| Equity | 10/15 | €2,056,970 | €2,078,946 | +€21,976 | +1.1% |
| Contributions | 10/11 | €246,000 | €246,000 | = | 0.0% |
| Capital | 10 | €246,000 | €246,000 | = | 0.0% |
| Issued capital | 100 | €246,000 | €246,000 | = | 0.0% |
| Reserves | 13 | €493,656 | €488,147 | -€5,509 | -1.1% |
| Non-distributable reserves | 130/1 | €24,600 | €24,600 | = | 0.0% |
| Legal reserve | 130 | €24,600 | €24,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €469,056 | €463,547 | -€5,509 | -1.2% |
| Profit (loss) carried forward | 14 | €1,317,314 | €1,344,799 | +€27,485 | +2.1% |
| Provisions and deferred taxes | 16 | €156,352 | €154,516 | -€1,836 | -1.2% |
| Deferred taxes | 168 | €156,352 | €154,516 | -€1,836 | -1.2% |
| Amounts payable | 17/49 | €205,688 | €202,282 | -€3,405 | -1.7% |
| Amounts payable after more than one year | 17 | €166,667 | €146,667 | -€20,000 | -12.0% |
| Financial debts | 170/4 | €166,667 | €146,667 | -€20,000 | -12.0% |
| Amounts payable within one year | 42/48 | €39,021 | €55,400 | +€16,379 | +42.0% |
| Current portion of amounts payable after more than one year | 42 | €22,084 | €20,000 | -€2,084 | -9.4% |
| Trade debts | 44 | €1,937 | €2,733 | +€796 | +41.1% |
| Suppliers | 440/4 | €1,937 | €2,733 | +€796 | +41.1% |
| Taxes, remuneration and social security | 45 | - | €3,146 | +€3,146 | |
| Taxes | 450/3 | - | €3,146 | +€3,146 | |
| Other amounts payable | 47/48 | €15,000 | €29,522 | +€14,522 | +96.8% |
| Accrued charges and deferred income | 492/3 | - | €215 | +€215 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,978 | €56,734 | +€15,756 | +38.5% |
| Other operating charges | 640/8 | €1 | €50 | +€49 | +4803.9% |
| Non-recurring operating charges | 66A | €9,997 | - | -€9,997 | |
| Gross operating margin | 9900 | €46,731 | €81,767 | +€35,036 | +75.0% |
| Operating profit (loss) | 9901 | -€4,245 | €24,982 | +€29,227 | |
| Financial income | 75/76B | €16,285 | €1,318 | -€14,967 | -91.9% |
| Recurring financial income | 75 | €16,285 | €1,318 | -€14,967 | -91.9% |
| Financial charges | 65/66B | €5,460 | €6,161 | +€701 | +12.8% |
| Recurring financial charges | 65 | €5,460 | €6,161 | +€701 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €6,580 | €20,139 | +€13,559 | +206.1% |
| Transfer from deferred taxes | 780 | €1,836 | €1,836 | = | 0.0% |
| Profit (loss) for the period | 9904 | €8,417 | €21,976 | +€13,559 | +161.1% |
| Transfer from tax-exempt reserves | 789 | €5,509 | €5,509 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,926 | €27,485 | +€13,559 | +97.4% |
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 28 September 2026 via checked.be.