CHwapimmo: 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.
CHwapimmo
Largest movements
- Tangible fixed assets +€367.3m
up €367.3m (+17,338%), from €2.1m to €369.4m
of which Assets under construction and advance payments: +€261.9m
- Current investments +€63.9m
new in 2025: €63.9m
- Receivables within one year +€39.2m
new in 2025: €39.2m
of which Other amounts receivable: +€38.7m
- Debts after one year +€296.4m
new in 2025: €296.4m
- Profit (loss) carried forward +€75.0m
up €75.0m (+3,926%), from €1.9m to €76.9m
- Reserves +€73.7m
new in 2025: €73.7m
- Debts within one year +€22.8m
up €22.8m (+7,594%), from €300,000 to €23.1m
of which Current portion of long-term debt: +€18.9m
- Investment grants +€8.4m
new in 2025: €8.4m
- Gross operating margin +€9.1m
up €9.1m (+454%), from €2.0m to €11.1m
- Financial income +€8.3m
new in 2025: €8.3m
of which Non-recurring financial income: +€8.2m
- Financial charges +€1.7m
up €1.7m (+896,725%), from €189 to €1.7m
- Turnover +€1.1m
new in 2025: €1.1m
- Depreciation +€403,026
up €403,026 (+446%), from €90,406 to €493,431
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 | €2,209,248 | €481,904,648 | +€479.7m | +21,713% |
| Formation expenses | 20 | - | €1,082,110 | +€1.1m | |
| Fixed assets | 21/28 | €2,118,578 | €369,434,795 | +€367.3m | +17,338% |
| Tangible fixed assets | 22/27 | €2,118,578 | €369,434,495 | +€367.3m | +17,338% |
| Land and buildings | 22 | €2,118,578 | €106,360,981 | +€104.2m | +4,920% |
| Other tangible fixed assets | 26 | - | €1,200,395 | +€1.2m | |
| Assets under construction and advance payments | 27 | - | €261,873,118 | +€261.9m | |
| Financial fixed assets | 28 | - | €300 | +€300 | |
| Current assets | 29/58 | €90,670 | €111,387,744 | +€111.3m | +122,750% |
| Amounts receivable after more than one year | 29 | - | €4,232,375 | +€4.2m | |
| Other amounts receivable | 291 | - | €4,232,375 | +€4.2m | |
| Amounts receivable within one year | 40/41 | - | €39,221,256 | +€39.2m | |
| Trade receivables | 40 | - | €520,344 | +€520,344 | |
| Other amounts receivable | 41 | - | €38,700,912 | +€38.7m | |
| Current investments | 50/53 | - | €63,923,954 | +€63.9m | |
| Cash at bank and in hand | 54/58 | €90,670 | €4,009,798 | +€3.9m | +4,322% |
| Deferred charges and accrued income | 490/1 | - | €361 | +€361 | |
| Total equity and liabilities | 10/49 | €2,209,248 | €481,904,648 | +€479.7m | +21,713% |
| Equity | 10/15 | €1,909,248 | €158,992,869 | +€157.1m | +8,228% |
| Reserves | 13 | - | €73,737,000 | +€73.7m | |
| Profit (loss) carried forward | 14 | €1,909,248 | €76,871,804 | +€75.0m | +3,926% |
| Investment grants | 15 | - | €8,384,065 | +€8.4m | |
| Amounts payable | 17/49 | €300,000 | €322,911,779 | +€322.6m | +107,537% |
| Amounts payable after more than one year | 17 | - | €296,386,385 | +€296.4m | |
| Financial debts | 170/4 | - | €296,386,385 | +€296.4m | |
| Amounts payable within one year | 42/48 | €300,000 | €23,081,907 | +€22.8m | +7,594% |
| Current portion of amounts payable after more than one year | 42 | - | €18,857,693 | +€18.9m | |
| Trade debts | 44 | - | €4,222,356 | +€4.2m | |
| Suppliers | 440/4 | - | €4,222,356 | +€4.2m | |
| Taxes, remuneration and social security | 45 | - | €1,857 | +€1,857 | |
| Remuneration and social security | 454/9 | - | €1,857 | +€1,857 | |
| Accrued charges and deferred income | 492/3 | - | €3,443,487 | +€3.4m | |
| Turnover | 70 | - | €1,081,782 | +€1.1m | |
| Membership fees, donations, legacies and grants | 73 | €2,000,000 | €10,000,000 | +€8.0m | +400% |
| Non-recurring operating income | 76A | - | €13 | +€13 | |
| Goods, raw materials, services and sundry goods | 60/61 | €158 | €6,235 | +€6,077 | +3,848% |
| Remuneration, social security and pensions | 62 | - | €14,198 | +€14,198 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,406 | €493,431 | +€403,026 | +446% |
| Other operating charges | 640/8 | - | €14,012 | +€14,012 | |
| Non-recurring operating charges | 66A | - | €476 | +€476 | |
| Gross operating margin | 9900 | €1,999,842 | €11,075,560 | +€9.1m | +454% |
| Operating profit (loss) | 9901 | €1,909,437 | €10,553,442 | +€8.6m | +453% |
| Financial income | 75/76B | - | €8,300,527 | +€8.3m | |
| Recurring financial income | 75 | - | €112,305 | +€112,305 | |
| Non-recurring financial income | 76B | - | €8,188,222 | +€8.2m | |
| Financial charges | 65/66B | €189 | €1,692,847 | +€1.7m | +896,725% |
| Recurring financial charges | 65 | €189 | €1,692,847 | +€1.7m | +896,725% |
| Profit (loss) for the period before taxes | 9903 | €1,909,248 | €17,161,122 | +€15.3m | +799% |
| Profit (loss) for the period | 9904 | €1,909,248 | €17,161,122 | +€15.3m | +799% |
| Profit (loss) for the period to be appropriated | 9905 | €1,909,248 | €17,161,122 | +€15.3m | +799% |
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 14 October 2026 via checked.be.