MS IMMOB: 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.
MS IMMOB
Largest movements
- Tangible fixed assets -€23,375
down €23,375 (-3.1%), from €761,249 to €737,873
of which Land and buildings: -€24,876
- Receivables within one year -€7,962
down €7,962 (-76.1%), from €10,458 to €2,496
of which Other amounts receivable: -€8,262
- Debts after one year -€27,473
down €27,473 (-3.8%), from €728,912 to €701,439
- Gross operating margin +€57,666
up €57,666 (+3846.1%), from €1,499 to €59,165
- Other operating charges -€30,210
down €30,210 (-89.9%), from €33,616 to €3,406
- Depreciation +€8,567
up €8,567 (+34.7%), from €24,682 to €33,250
- Financial charges +€3,279
up €3,279 (+14.7%), from €22,348 to €25,628
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 | €777,903 | €750,568 | -€27,335 | -3.5% |
| Formation expenses | 20 | €1,532 | €1,096 | -€436 | -28.5% |
| Fixed assets | 21/28 | €762,767 | €739,231 | -€23,535 | -3.1% |
| Intangible fixed assets | 21 | €1,518 | €1,358 | -€160 | -10.5% |
| Tangible fixed assets | 22/27 | €761,249 | €737,873 | -€23,375 | -3.1% |
| Land and buildings | 22 | €746,944 | €722,068 | -€24,876 | -3.3% |
| Plant, machinery and equipment | 23 | - | €2,988 | +€2,988 | |
| Furniture and vehicles | 24 | €14,305 | €12,817 | -€1,488 | -10.4% |
| Current assets | 29/58 | €13,605 | €10,241 | -€3,364 | -24.7% |
| Amounts receivable within one year | 40/41 | €10,458 | €2,496 | -€7,962 | -76.1% |
| Trade receivables | 40 | - | €300 | +€300 | |
| Other amounts receivable | 41 | €10,458 | €2,196 | -€8,262 | -79.0% |
| Cash at bank and in hand | 54/58 | €3,147 | €7,745 | +€4,598 | +146.1% |
| Total equity and liabilities | 10/49 | €777,903 | €750,568 | -€27,335 | -3.5% |
| Equity | 10/15 | -€19,148 | -€22,266 | -€3,119 | -16.3% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,148 | -€82,266 | -€3,119 | -3.9% |
| Amounts payable | 17/49 | €797,051 | €772,834 | -€24,217 | -3.0% |
| Amounts payable after more than one year | 17 | €728,912 | €701,439 | -€27,473 | -3.8% |
| Financial debts | 170/4 | €728,912 | €701,439 | -€27,473 | -3.8% |
| Amounts payable within one year | 42/48 | €68,139 | €71,395 | +€3,257 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €26,491 | €27,473 | +€982 | +3.7% |
| Trade debts | 44 | €16 | €3,278 | +€3,262 | +20899.4% |
| Suppliers | 440/4 | €16 | €3,278 | +€3,262 | +20899.4% |
| Taxes, remuneration and social security | 45 | €1,211 | - | -€1,211 | |
| Taxes | 450/3 | €1,211 | - | -€1,211 | |
| Other amounts payable | 47/48 | €40,420 | €40,644 | +€224 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,682 | €33,250 | +€8,567 | +34.7% |
| Other operating charges | 640/8 | €33,616 | €3,406 | -€30,210 | -89.9% |
| Gross operating margin | 9900 | €1,499 | €59,165 | +€57,666 | +3846.1% |
| Operating profit (loss) | 9901 | -€56,799 | €22,509 | +€79,309 | |
| Financial charges | 65/66B | €22,348 | €25,628 | +€3,279 | +14.7% |
| Recurring financial charges | 65 | €22,348 | €25,628 | +€3,279 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | -€79,148 | -€3,119 | +€76,029 | +96.1% |
| Profit (loss) for the period | 9904 | -€79,148 | -€3,119 | +€76,029 | +96.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€79,148 | -€3,119 | +€76,029 | +96.1% |
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 4 October 2026 via checked.be.