PM 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.
PM Immo
Largest movements
- Receivables within one year -€875,791
down €875,791 (-99.7%), from €878,028 to €2,236
of which Trade receivables: -€878,028
- Tangible fixed assets +€519,721
up €519,721 (+46.9%), from €1.1m to €1.6m
of which Assets under construction and advance payments: +€401,155
- Deferred charges and accrued income +€291,946
up €291,946 (+23.3%), from €1.3m to €1.5m
- Cash -€245,370
down €245,370 (-59.2%), from €414,796 to €169,426
mainly Investment in fixed assets (net) (-€519,721) and Deferred charges and accrued income (-€291,946)
- Trade debts -€285,473
down €285,473 (-28.8%), from €990,347 to €704,874
- Accrued charges and deferred income -€247,580
down €247,580 (-95.4%), from €259,394 to €11,813
- Reserves +€154,778
up €154,778 (+122.6%), from €126,262 to €281,041
- Revaluation surpluses +€118,566
up €118,566 (+321.1%), from €36,920 to €155,486
- Tax, wage and social debts -€74,475
down €74,475 (-32.8%), from €226,855 to €152,380
- Gross operating margin -€8.1m
down €8.1m (-63.1%), from €12.9m to €4.7m
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 | €3,656,321 | €3,346,827 | -€309,494 | -8.5% |
| Fixed assets | 21/28 | €1,108,746 | €1,628,468 | +€519,721 | +46.9% |
| Tangible fixed assets | 22/27 | €1,108,746 | €1,628,468 | +€519,721 | +46.9% |
| Land and buildings | 22 | €0 | - | = | |
| Other tangible fixed assets | 26 | €1,108,746 | €1,227,313 | +€118,566 | +10.7% |
| Assets under construction and advance payments | 27 | €0 | €401,155 | +€401,155 | |
| Current assets | 29/58 | €2,547,574 | €1,718,359 | -€829,215 | -32.5% |
| Amounts receivable within one year | 40/41 | €878,028 | €2,236 | -€875,791 | -99.7% |
| Trade receivables | 40 | €878,028 | €0 | -€878,028 | -100.0% |
| Other amounts receivable | 41 | - | €2,236 | +€2,236 | |
| Cash at bank and in hand | 54/58 | €414,796 | €169,426 | -€245,370 | -59.2% |
| Deferred charges and accrued income | 490/1 | €1,254,751 | €1,546,696 | +€291,946 | +23.3% |
| Total equity and liabilities | 10/49 | €3,656,321 | €3,346,827 | -€309,494 | -8.5% |
| Equity | 10/15 | €1,413,182 | €1,686,527 | +€273,345 | +19.3% |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Revaluation surpluses | 12 | €36,920 | €155,486 | +€118,566 | +321.1% |
| Reserves | 13 | €126,262 | €281,041 | +€154,778 | +122.6% |
| Distributable reserves | 133 | €126,262 | €281,041 | +€154,778 | +122.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,243,139 | €1,660,300 | -€582,839 | -26.0% |
| Amounts payable after more than one year | 17 | €766,543 | €791,232 | +€24,689 | +3.2% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €766,543 | €791,232 | +€24,689 | +3.2% |
| Amounts payable within one year | 42/48 | €1,217,202 | €857,254 | -€359,948 | -29.6% |
| Trade debts | 44 | €990,347 | €704,874 | -€285,473 | -28.8% |
| Suppliers | 440/4 | €990,347 | €704,874 | -€285,473 | -28.8% |
| Taxes, remuneration and social security | 45 | €226,855 | €152,380 | -€74,475 | -32.8% |
| Taxes | 450/3 | €226,855 | €152,380 | -€74,475 | -32.8% |
| Accrued charges and deferred income | 492/3 | €259,394 | €11,813 | -€247,580 | -95.4% |
| Non-recurring operating income | 76A | €80,000 | €0 | -€80,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €5,014 | €1,547 | -€3,467 | -69.2% |
| Non-recurring operating charges | 66A | €11,472,628 | €4,098,428 | -€7.4m | -64.3% |
| Gross operating margin | 9900 | €12,859,339 | €4,740,279 | -€8.1m | -63.1% |
| Operating profit (loss) | 9901 | €1,381,697 | €640,304 | -€741,393 | -53.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €408,265 | €428,565 | +€20,300 | +5.0% |
| Recurring financial charges | 65 | €408,265 | €428,565 | +€20,300 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €973,432 | €211,739 | -€761,693 | -78.2% |
| Income taxes | 67/77 | €55,000 | €56,961 | +€1,961 | +3.6% |
| Profit (loss) for the period | 9904 | €918,432 | €154,778 | -€763,653 | -83.1% |
| Profit (loss) for the period to be appropriated | 9905 | €918,432 | €154,778 | -€763,653 | -83.1% |
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 8 October 2026 via checked.be.