DE WULF IMMO: 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.
DE WULF IMMO
Largest movements
- Current investments +€598,294
up €598,294 (+68.2%), from €877,539 to €1.5m
- Tangible fixed assets -€60,595
down €60,595 (-54.8%), from €110,555 to €49,960
- Reserves +€307,983
up €307,983 (+37.2%), from €827,600 to €1.1m
of which Distributable reserves: +€307,983
- Profit (loss) carried forward +€215,438
no longer reported in 2025 (was -€215,438)
- Tax, wage and social debts +€26,198
up €26,198 (+639.0%), from €4,100 to €30,298
of which Taxes: +€26,198
- Gross operating margin +€630,084
up €630,084, from -€59,204 to €570,881
- Taxes +€43,742
up €43,742 (+2762.0%), from €1,584 to €45,326
- Financial income +€8,332
new in 2025: €8,332
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 | €1,016,305 | €1,565,925 | +€549,620 | +54.1% |
| Fixed assets | 21/28 | €110,555 | €49,960 | -€60,595 | -54.8% |
| Tangible fixed assets | 22/27 | €110,555 | €49,960 | -€60,595 | -54.8% |
| Land and buildings | 22 | €110,555 | €49,960 | -€60,595 | -54.8% |
| Current assets | 29/58 | €905,750 | €1,515,965 | +€610,215 | +67.4% |
| Amounts receivable within one year | 40/41 | €3,844 | €840 | -€3,004 | -78.1% |
| Other amounts receivable | 41 | €3,844 | €840 | -€3,004 | -78.1% |
| Current investments | 50/53 | €877,539 | €1,475,833 | +€598,294 | +68.2% |
| Cash at bank and in hand | 54/58 | €24,367 | €37,029 | +€12,661 | +52.0% |
| Deferred charges and accrued income | 490/1 | - | €2,264 | +€2,264 | |
| Total equity and liabilities | 10/49 | €1,016,305 | €1,565,925 | +€549,620 | +54.1% |
| Equity | 10/15 | €1,012,162 | €1,535,583 | +€523,421 | +51.7% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €827,600 | €1,135,583 | +€307,983 | +37.2% |
| Non-distributable reserves | 130/1 | €810,000 | €810,000 | = | 0.0% |
| Legal reserve | 130 | €40,000 | €40,000 | = | 0.0% |
| Own shares acquired | 1312 | €770,000 | €770,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,600 | €17,600 | = | 0.0% |
| Distributable reserves | 133 | - | €307,983 | +€307,983 | |
| Profit (loss) carried forward | 14 | -€215,438 | - | +€215,438 | |
| Amounts payable | 17/49 | €4,143 | €30,342 | +€26,200 | +632.4% |
| Amounts payable within one year | 42/48 | €4,143 | €30,342 | +€26,200 | +632.4% |
| Trade debts | 44 | €43 | €44 | +€1 | +3.2% |
| Suppliers | 440/4 | €43 | €44 | +€1 | +3.2% |
| Taxes, remuneration and social security | 45 | €4,100 | €30,298 | +€26,198 | +639.0% |
| Taxes | 450/3 | €2,600 | €28,798 | +€26,198 | +1007.6% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Non-recurring operating income | 76A | - | €630,264 | +€630,264 | |
| Other operating charges | 640/8 | €4,677 | €10,203 | +€5,526 | +118.1% |
| Gross operating margin | 9900 | -€59,204 | €570,881 | +€630,084 | |
| Operating profit (loss) | 9901 | -€63,881 | €560,677 | +€624,559 | |
| Financial income | 75/76B | - | €8,332 | +€8,332 | |
| Recurring financial income | 75 | - | €8,332 | +€8,332 | |
| Financial charges | 65/66B | €266 | €263 | -€2 | -0.9% |
| Recurring financial charges | 65 | €266 | €263 | -€2 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | -€64,147 | €568,747 | +€632,894 | |
| Income taxes | 67/77 | €1,584 | €45,326 | +€43,742 | +2762.0% |
| Profit (loss) for the period | 9904 | -€65,731 | €523,421 | +€589,151 | |
| Profit (loss) for the period to be appropriated | 9905 | -€65,731 | €523,421 | +€589,151 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.