MSB 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.
MSB IMMO
Largest movements
- Tangible fixed assets -€35,413
down €35,413 (-6.5%), from €547,884 to €512,472
of which Land and buildings: -€30,627
- Cash -€30,193
down €30,193 (-21.2%), from €142,402 to €112,209
mainly Other debts (-€52,157) and Net result for the year (-€14,264)
- Other debts -€52,157
down €52,157 (-12.5%), from €418,752 to €366,594
- Profit (loss) carried forward -€14,264
down €14,264 (-185.7%), from -€7,682 to -€21,946
- Gross operating margin -€17,789
down €17,789 (-34.6%), from €51,447 to €33,658
- Depreciation -€1,454
down €1,454 (-3.9%), from €36,867 to €35,413
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 | €692,464 | €627,043 | -€65,421 | -9.4% |
| Fixed assets | 21/28 | €547,884 | €512,472 | -€35,413 | -6.5% |
| Tangible fixed assets | 22/27 | €547,884 | €512,472 | -€35,413 | -6.5% |
| Land and buildings | 22 | €538,496 | €507,869 | -€30,627 | -5.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €9,388 | €4,602 | -€4,786 | -51.0% |
| Current assets | 29/58 | €144,580 | €114,571 | -€30,008 | -20.8% |
| Cash at bank and in hand | 54/58 | €142,402 | €112,209 | -€30,193 | -21.2% |
| Deferred charges and accrued income | 490/1 | €2,178 | €2,362 | +€184 | +8.5% |
| Total equity and liabilities | 10/49 | €692,464 | €627,043 | -€65,421 | -9.4% |
| Equity | 10/15 | €272,648 | €258,384 | -€14,264 | -5.2% |
| Contributions | 10/11 | €275,000 | €275,000 | = | 0.0% |
| Reserves | 13 | €5,330 | €5,330 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,330 | €5,330 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,330 | €5,330 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,682 | -€21,946 | -€14,264 | -185.7% |
| Amounts payable | 17/49 | €419,816 | €368,659 | -€51,157 | -12.2% |
| Amounts payable within one year | 42/48 | €419,816 | €368,659 | -€51,157 | -12.2% |
| Trade debts | 44 | €583 | €1,798 | +€1,215 | +208.4% |
| Suppliers | 440/4 | €583 | €1,798 | +€1,215 | +208.4% |
| Taxes, remuneration and social security | 45 | €482 | €267 | -€215 | -44.5% |
| Taxes | 450/3 | €482 | €267 | -€215 | -44.5% |
| Other amounts payable | 47/48 | €418,752 | €366,594 | -€52,157 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,867 | €35,413 | -€1,454 | -3.9% |
| Other operating charges | 640/8 | €6,752 | €6,974 | +€222 | +3.3% |
| Gross operating margin | 9900 | €51,447 | €33,658 | -€17,789 | -34.6% |
| Operating profit (loss) | 9901 | €7,828 | -€8,728 | -€16,557 | |
| Financial charges | 65/66B | €5,270 | €5,597 | +€327 | +6.2% |
| Recurring financial charges | 65 | €5,270 | €5,597 | +€327 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €2,558 | -€14,325 | -€16,883 | |
| Income taxes | 67/77 | €329 | -€61 | -€389 | |
| Profit (loss) for the period | 9904 | €2,230 | -€14,264 | -€16,494 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,230 | -€14,264 | -€16,494 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.