M-Immo: what changed
What changed
M-Immo
filed annual accounts (NBB)
Net result for the year
€64,589
2024 · €36,446+€28,143
Equity
€148,457
2024 · €83,868+€64,589
Cash
€16,786
2024 · €11,586+€5,200
Balance sheet total
€2.1m
2024 · €2.2m-€46,293
Largest movements
Assets
- Tangible fixed assets -€46,833
down €46,833 (-2.2%), from €2.2m to €2.1m
Equity and liabilities
- Other debts -€329,900
down €329,900 (-71.0%), from €464,900 to €135,000
- Debts after one year +€210,319
up €210,319 (+14.1%), from €1.5m to €1.7m
of which Financial debts: +€210,319
- Reserves +€64,589
up €64,589 (+99.0%), from €65,246 to €129,835
Income statement
- Gross operating margin +€33,403
up €33,403 (+22.8%), from €146,678 to €180,081
- Taxes +€7,878
up €7,878 (+57.7%), from €13,651 to €21,530
- Financial charges -€2,950
down €2,950 (-7.6%), from €39,010 to €36,061
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
€36,446
Gross operating margin
+€33,403
Other operating charges
-€331
Financial charges
+€2,950
Taxes
-€7,878
Result 2025
€64,589
raises the resultlowers the result
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
-€208,042
Investment
€0
Financing
+€213,242
Cash 2024
€11,586
From operations (derived)
-€208,042
Net result for the year
+€64,589
Depreciation
+€46,833
Receivables within one year
+€5,033
Deferred charges and accrued income
-€373
Trade debts
+€1,117
Other debts
-€329,900
Accrued charges and deferred income
+€4,660
Financing
+€213,242
Debts after one year
+€210,319
Current portion of long-term debt
+€2,923
Cash 2025
€16,786
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,191,762 | €2,145,470 | -€46,293 | -2.1% |
| Fixed assets | 21/28 | €2,166,860 | €2,120,027 | -€46,833 | -2.2% |
| Tangible fixed assets | 22/27 | €2,166,860 | €2,120,027 | -€46,833 | -2.2% |
| Land and buildings | 22 | €2,166,860 | €2,120,027 | -€46,833 | -2.2% |
| Current assets | 29/58 | €24,902 | €25,442 | +€540 | +2.2% |
| Amounts receivable within one year | 40/41 | €13,278 | €8,245 | -€5,033 | -37.9% |
| Other amounts receivable | 41 | €13,278 | €8,245 | -€5,033 | -37.9% |
| Cash at bank and in hand | 54/58 | €11,586 | €16,786 | +€5,200 | +44.9% |
| Deferred charges and accrued income | 490/1 | €38 | €411 | +€373 | +989% |
| Total equity and liabilities | 10/49 | €2,191,762 | €2,145,470 | -€46,293 | -2.1% |
| Equity | 10/15 | €83,868 | €148,457 | +€64,589 | +77.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €65,246 | €129,835 | +€64,589 | +99.0% |
| Distributable reserves | 133 | €65,246 | €129,835 | +€64,589 | +99.0% |
| Profit (loss) carried forward | 14 | €22 | €22 | = | 0.0% |
| Amounts payable | 17/49 | €2,107,894 | €1,997,012 | -€110,882 | -5.3% |
| Amounts payable after more than one year | 17 | €1,493,388 | €1,703,707 | +€210,319 | +14.1% |
| Financial debts | 170/4 | €1,474,911 | €1,685,230 | +€210,319 | +14.3% |
| Other amounts payable | 178/9 | €18,477 | €18,477 | = | 0.0% |
| Amounts payable within one year | 42/48 | €596,923 | €271,062 | -€325,861 | -54.6% |
| Current portion of amounts payable after more than one year | 42 | €117,359 | €120,282 | +€2,923 | +2.5% |
| Trade debts | 44 | €1,012 | €2,128 | +€1,117 | +110% |
| Suppliers | 440/4 | €1,012 | €2,128 | +€1,117 | +110% |
| Taxes, remuneration and social security | 45 | €13,651 | €13,651 | = | 0.0% |
| Taxes | 450/3 | €13,651 | €13,651 | = | 0.0% |
| Other amounts payable | 47/48 | €464,900 | €135,000 | -€329,900 | -71.0% |
| Accrued charges and deferred income | 492/3 | €17,584 | €22,243 | +€4,660 | +26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,833 | €46,833 | = | 0.0% |
| Other operating charges | 640/8 | €10,738 | €11,069 | +€331 | +3.1% |
| Gross operating margin | 9900 | €146,678 | €180,081 | +€33,403 | +22.8% |
| Operating profit (loss) | 9901 | €89,108 | €122,179 | +€33,072 | +37.1% |
| Financial charges | 65/66B | €39,010 | €36,061 | -€2,950 | -7.6% |
| Recurring financial charges | 65 | €39,010 | €36,061 | -€2,950 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €50,097 | €86,119 | +€36,022 | +71.9% |
| Income taxes | 67/77 | €13,651 | €21,530 | +€7,878 | +57.7% |
| Profit (loss) for the period | 9904 | €36,446 | €64,589 | +€28,143 | +77.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,446 | €64,589 | +€28,143 | +77.2% |
Next steps
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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 6 November 2026 via checked.be.