MORELIMMO: what changed
What changed
MORELIMMO
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
€728,190
2024 · -€37,389+€765,579
Equity
€2.4m
2024 · €1.6m+€728,190
Cash
€739,920
2024 · €61,575+€678,345
Balance sheet total
€5.0m
2024 · €3.5m+€1.5m
Largest movements
Assets
- Tangible fixed assets +€744,569
up €744,569 (+39.4%), from €1.9m to €2.6m
of which Land and buildings: +€614,569
- Cash +€678,345
up €678,345 (+1,102%), from €61,575 to €739,920
mainly Net result for the year (+€728,190) and Debts after one year (+€686,811)
- Receivables within one year +€72,848
up €72,848 (+11.1%), from €658,254 to €731,102
of which Other amounts receivable: +€106,116
Equity and liabilities
- Reserves +€690,949
up €690,949 (+58.3%), from €1.2m to €1.9m
of which Distributable reserves: +€703,626
- Debts after one year +€686,811
up €686,811 (+110%), from €624,974 to €1.3m
- Advances received -€51,725
down €51,725 (-100%), from €51,725 to €0
Income statement
- Financial income +€755,677
up €755,677 (+9,719%), from €7,775 to €763,452
- Depreciation -€78,417
down €78,417 (-35.7%), from €219,609 to €141,192
- Gross operating margin -€65,360
down €65,360 (-23.1%), from €282,987 to €217,627
- Financial charges +€4,487
up €4,487 (+5.1%), from €87,136 to €91,622
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
-€37,389
Gross operating margin
-€65,360
Depreciation
+€78,417
Other operating charges
+€156
Financial income
+€755,677
Financial charges
-€4,487
Deferred taxes and other
+€1,176
Result 2025
€728,190
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
+€830,313
Investment
-€885,762
Financing
+€733,794
Cash 2024
€61,575
From operations (derived)
+€830,313
Net result for the year
+€728,190
Depreciation
+€141,192
Receivables within one year
-€72,848
Smaller working-capital items
+€535
Provisions
-€4,226
Trade debts
+€43,050
Advances received
-€51,725
Other debts
+€46,144
Investment (derived)
-€885,762
Investment in fixed assets (net)
-€885,762
Financing
+€733,794
Debts after one year
+€686,811
Current portion of long-term debt
+€46,982
Cash 2025
€739,920
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,465,559 | €4,960,839 | +€1.5m | +43.1% |
| Fixed assets | 21/28 | €2,745,247 | €3,489,817 | +€744,569 | +27.1% |
| Tangible fixed assets | 22/27 | €1,889,279 | €2,633,849 | +€744,569 | +39.4% |
| Land and buildings | 22 | €1,889,279 | €2,503,849 | +€614,569 | +32.5% |
| Assets under construction and advance payments | 27 | - | €130,000 | +€130,000 | |
| Financial fixed assets | 28 | €855,968 | €855,968 | = | 0.0% |
| Current assets | 29/58 | €720,311 | €1,471,022 | +€750,711 | +104% |
| Amounts receivable within one year | 40/41 | €658,254 | €731,102 | +€72,848 | +11.1% |
| Trade receivables | 40 | €239,138 | €205,870 | -€33,268 | -13.9% |
| Other amounts receivable | 41 | €419,116 | €525,232 | +€106,116 | +25.3% |
| Cash at bank and in hand | 54/58 | €61,575 | €739,920 | +€678,345 | +1,102% |
| Deferred charges and accrued income | 490/1 | €482 | €0 | -€482 | -100% |
| Total equity and liabilities | 10/49 | €3,465,559 | €4,960,839 | +€1.5m | +43.1% |
| Equity | 10/15 | €1,647,239 | €2,375,429 | +€728,190 | +44.2% |
| Contributions | 10/11 | €498,364 | €498,364 | = | 0.0% |
| Reserves | 13 | €1,186,115 | €1,877,065 | +€690,949 | +58.3% |
| Tax-exempt reserves | 132 | €275,707 | €263,030 | -€12,677 | -4.6% |
| Distributable reserves | 133 | €910,409 | €1,614,035 | +€703,626 | +77.3% |
| Profit (loss) carried forward | 14 | -€37,241 | €0 | +€37,241 | |
| Provisions and deferred taxes | 16 | €79,402 | €75,177 | -€4,226 | -5.3% |
| Deferred taxes | 168 | €79,402 | €75,177 | -€4,226 | -5.3% |
| Amounts payable | 17/49 | €1,738,918 | €2,510,234 | +€771,316 | +44.4% |
| Amounts payable after more than one year | 17 | €624,974 | €1,311,786 | +€686,811 | +110% |
| Financial debts | 170/4 | €624,974 | €1,311,786 | +€686,811 | +110% |
| Amounts payable within one year | 42/48 | €1,113,378 | €1,197,243 | +€83,865 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €78,263 | €125,245 | +€46,982 | +60.0% |
| Trade debts | 44 | €98,505 | €141,555 | +€43,050 | +43.7% |
| Suppliers | 440/4 | €98,505 | €141,555 | +€43,050 | +43.7% |
| Advances received on contracts in progress | 46 | €51,725 | €0 | -€51,725 | -100% |
| Taxes, remuneration and social security | 45 | €68,649 | €68,062 | -€587 | -0.9% |
| Taxes | 450/3 | €68,649 | €68,062 | -€587 | -0.9% |
| Other amounts payable | 47/48 | €816,237 | €862,381 | +€46,144 | +5.7% |
| Accrued charges and deferred income | 492/3 | €565 | €1,205 | +€640 | +113% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €219,609 | €141,192 | -€78,417 | -35.7% |
| Other operating charges | 640/8 | €24,456 | €24,300 | -€156 | -0.6% |
| Gross operating margin | 9900 | €282,987 | €217,627 | -€65,360 | -23.1% |
| Operating profit (loss) | 9901 | €38,922 | €52,135 | +€13,213 | +33.9% |
| Financial income | 75/76B | €7,775 | €763,452 | +€755,677 | +9,719% |
| Recurring financial income | 75 | €7,775 | €763,452 | +€755,677 | +9,719% |
| Financial charges | 65/66B | €87,136 | €91,622 | +€4,487 | +5.1% |
| Recurring financial charges | 65 | €87,136 | €91,622 | +€4,487 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | -€40,439 | €723,964 | +€764,403 | |
| Transfer from deferred taxes | 780 | €3,050 | €4,226 | +€1,176 | +38.5% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€37,389 | €728,190 | +€765,579 | |
| Transfer from tax-exempt reserves | 789 | €9,148 | €12,677 | +€3,528 | +38.6% |
| Transfer to tax-exempt reserves | 689 | €9,000 | €0 | -€9,000 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,241 | €740,866 | +€778,107 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 4 November 2026 via checked.be.