"IMMO MISCAR": what changed
Two financial 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.
"IMMO MISCAR"
Largest movements
- Tangible fixed assets -€163,910
down €163,910 (-10.1%), from €1.6m to €1.5m
of which Leasing and similar rights: -€96,583
- Cash +€50,722
up €50,722 (+22,346%), from €227 to €50,949
mainly Depreciation (+€83,542) and Investment in fixed assets (net) (+€80,368)
- Receivables within one year -€30,585
down €30,585 (-19.0%), from €160,839 to €130,254
of which Other amounts receivable: -€28,385
- Debts after one year -€93,244
down €93,244 (-6.2%), from €1.5m to €1.4m
- Profit (loss) carried forward -€20,213
down €20,213 (-38.4%), from €52,675 to €32,461
- Gross operating margin +€19,979
up €19,979 (+21.8%), from €91,804 to €111,783
- Other operating charges +€9,283
up €9,283 (+102%), from €9,072 to €18,355
- Financial charges +€1,813
up €1,813 (+6.4%), from €28,313 to €30,126
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.
Derived cash bridge
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 | €1,784,822 | €1,641,082 | -€143,740 | -8.1% |
| Fixed assets | 21/28 | €1,620,637 | €1,456,727 | -€163,910 | -10.1% |
| Tangible fixed assets | 22/27 | €1,620,637 | €1,456,727 | -€163,910 | -10.1% |
| Land and buildings | 22 | €1,445,535 | €1,387,751 | -€57,784 | -4.0% |
| Plant, machinery and equipment | 23 | €78,519 | €68,976 | -€9,543 | -12.2% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €96,583 | €0 | -€96,583 | -100% |
| Current assets | 29/58 | €164,185 | €184,355 | +€20,170 | +12.3% |
| Amounts receivable within one year | 40/41 | €160,839 | €130,254 | -€30,585 | -19.0% |
| Trade receivables | 40 | €126,877 | €124,677 | -€2,200 | -1.7% |
| Other amounts receivable | 41 | €33,962 | €5,577 | -€28,385 | -83.6% |
| Cash at bank and in hand | 54/58 | €227 | €50,949 | +€50,722 | +22,346% |
| Deferred charges and accrued income | 490/1 | €3,118 | €3,152 | +€33 | +1.1% |
| Total equity and liabilities | 10/49 | €1,784,822 | €1,641,082 | -€143,740 | -8.1% |
| Equity | 10/15 | €54,675 | €34,461 | -€20,213 | -37.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,675 | €32,461 | -€20,213 | -38.4% |
| Amounts payable | 17/49 | €1,730,147 | €1,606,620 | -€123,527 | -7.1% |
| Amounts payable after more than one year | 17 | €1,515,323 | €1,422,080 | -€93,244 | -6.2% |
| Financial debts | 170/4 | €1,515,323 | €1,422,080 | -€93,244 | -6.2% |
| Amounts payable within one year | 42/48 | €211,848 | €183,941 | -€27,907 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €76,877 | €61,021 | -€15,855 | -20.6% |
| Financial debts | 43 | €15,209 | €6,840 | -€8,368 | -55.0% |
| Credit institutions | 430/8 | €15,209 | €6,840 | -€8,368 | -55.0% |
| Trade debts | 44 | €23,354 | €7,464 | -€15,891 | -68.0% |
| Suppliers | 440/4 | €23,354 | €7,464 | -€15,891 | -68.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €1,460 | €2,395 | +€935 | +64.0% |
| Taxes | 450/3 | €1,460 | €2,395 | +€935 | +64.0% |
| Other amounts payable | 47/48 | €94,948 | €106,220 | +€11,272 | +11.9% |
| Accrued charges and deferred income | 492/3 | €2,976 | €600 | -€2,376 | -79.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,186 | €83,542 | +€356 | +0.4% |
| Other operating charges | 640/8 | €9,072 | €18,355 | +€9,283 | +102% |
| Gross operating margin | 9900 | €91,804 | €111,783 | +€19,979 | +21.8% |
| Operating profit (loss) | 9901 | -€454 | €9,886 | +€10,340 | |
| Financial income | 75/76B | €0 | €194 | +€194 | |
| Recurring financial income | 75 | €0 | €194 | +€194 | |
| Financial charges | 65/66B | €28,313 | €30,126 | +€1,813 | +6.4% |
| Recurring financial charges | 65 | €28,313 | €30,126 | +€1,813 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | -€28,767 | -€20,045 | +€8,721 | +30.3% |
| Income taxes | 67/77 | €149 | €168 | +€19 | +13.0% |
| Profit (loss) for the period | 9904 | -€28,915 | -€20,213 | +€8,702 | +30.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,915 | -€20,213 | +€8,702 | +30.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.