FAIRWAY 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.
What changed
FAIRWAY IMMO
NACE 68.204, Real estate activities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€116,344
2024 · €79,492+€36,851
Equity
€1.4m
2024 · €1.3m+€116,344
Cash
€23,043
2024 · €25,209-€2,166
Balance sheet total
€1.6m
2024 · €1.5m+€184,818
Largest movements
Assets
- Receivables within one year +€216,909
up €216,909 (+87.6%), from €247,728 to €464,637
of which Other amounts receivable: +€236,611
- Receivables after one year -€50,000
down €50,000 (-20.0%), from €250,000 to €200,000
Equity and liabilities
- Profit (loss) carried forward +€116,344
up €116,344 (+3.8%), from -€3.1m to -€3.0m
- Debts after one year +€88,182
new in 2025: €88,182
- Trade debts -€17,298
down €17,298 (-77.9%), from €22,191 to €4,893
Income statement
- Other operating charges -€40,745
down €40,745 (-82.8%), from €49,228 to €8,483
- Gross operating margin -€9,209
down €9,209 (-5.2%), from €177,603 to €168,394
- Depreciation -€6,818
down €6,818 (-12.3%), from €55,385 to €48,567
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.
Result 2024
€79,492
Gross operating margin
-€9,209
Depreciation
+€6,818
Other operating charges
+€40,745
Financial income
-€219
Financial charges
-€1,276
Taxes
-€8
Result 2025
€116,344
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.
From operations
-€30,259
Investment
-€64,947
Financing
+€93,040
Cash 2024
€25,209
From operations (derived)
-€30,259
Net result for the year
+€116,344
Depreciation
+€48,567
Receivables after one year
+€50,000
Receivables within one year
-€216,909
Deferred charges and accrued income
-€3,695
Trade debts
-€17,298
Tax, wage and social debts
+€264
Other debts
-€7,531
Investment (derived)
-€64,947
Investment in fixed assets (net)
-€64,947
Financing
+€93,040
Debts after one year
+€88,182
Current portion of long-term debt
+€4,857
Cash 2025
€23,043
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,464,656 | €1,649,474 | +€184,818 | +12.6% |
| Fixed assets | 21/28 | €929,281 | €945,661 | +€16,380 | +1.8% |
| Tangible fixed assets | 22/27 | €929,281 | €945,661 | +€16,380 | +1.8% |
| Land and buildings | 22 | €750,222 | €750,093 | -€129 | 0.0% |
| Plant, machinery and equipment | 23 | €103,942 | €153,955 | +€50,013 | +48.1% |
| Furniture and vehicles | 24 | €74,638 | €41,309 | -€33,328 | -44.7% |
| Other tangible fixed assets | 26 | €480 | €303 | -€176 | -36.7% |
| Current assets | 29/58 | €535,375 | €703,813 | +€168,438 | +31.5% |
| Amounts receivable after more than one year | 29 | €250,000 | €200,000 | -€50,000 | -20.0% |
| Other amounts receivable | 291 | €250,000 | €200,000 | -€50,000 | -20.0% |
| Amounts receivable within one year | 40/41 | €247,728 | €464,637 | +€216,909 | +87.6% |
| Trade receivables | 40 | €19,702 | - | -€19,702 | |
| Other amounts receivable | 41 | €228,026 | €464,637 | +€236,611 | +103.8% |
| Cash at bank and in hand | 54/58 | €25,209 | €23,043 | -€2,166 | -8.6% |
| Deferred charges and accrued income | 490/1 | €12,438 | €16,133 | +€3,695 | +29.7% |
| Total equity and liabilities | 10/49 | €1,464,656 | €1,649,474 | +€184,818 | +12.6% |
| Equity | 10/15 | €1,325,853 | €1,442,196 | +€116,344 | +8.8% |
| Contributions | 10/11 | €4,296,243 | €4,296,243 | = | 0.0% |
| Reserves | 13 | €127,169 | €127,169 | = | 0.0% |
| Non-distributable reserves | 130/1 | €127,169 | €127,169 | = | 0.0% |
| Reserves not available under the articles | 1311 | €126,178 | €126,178 | = | 0.0% |
| Other | 1319 | €992 | €992 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,097,559 | -€2,981,216 | +€116,344 | +3.8% |
| Amounts payable | 17/49 | €138,803 | €207,277 | +€68,474 | +49.3% |
| Amounts payable after more than one year | 17 | - | €88,182 | +€88,182 | |
| Financial debts | 170/4 | - | €88,182 | +€88,182 | |
| Amounts payable within one year | 42/48 | €138,803 | €119,095 | -€19,708 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | - | €4,857 | +€4,857 | |
| Trade debts | 44 | €22,191 | €4,893 | -€17,298 | -77.9% |
| Suppliers | 440/4 | €22,191 | €4,893 | -€17,298 | -77.9% |
| Taxes, remuneration and social security | 45 | €2,044 | €2,308 | +€264 | +12.9% |
| Taxes | 450/3 | €2,044 | €2,308 | +€264 | +12.9% |
| Other amounts payable | 47/48 | €114,568 | €107,037 | -€7,531 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,385 | €48,567 | -€6,818 | -12.3% |
| Other operating charges | 640/8 | €49,228 | €8,483 | -€40,745 | -82.8% |
| Gross operating margin | 9900 | €177,603 | €168,394 | -€9,209 | -5.2% |
| Operating profit (loss) | 9901 | €72,990 | €111,345 | +€38,355 | +52.5% |
| Financial income | 75/76B | €7,547 | €7,327 | -€219 | -2.9% |
| Recurring financial income | 75 | €7,547 | €7,327 | -€219 | -2.9% |
| Financial charges | 65/66B | €631 | €1,907 | +€1,276 | +202.4% |
| Recurring financial charges | 65 | €631 | €1,907 | +€1,276 | +202.4% |
| Profit (loss) for the period before taxes | 9903 | €79,906 | €116,765 | +€36,859 | +46.1% |
| Income taxes | 67/77 | €414 | €422 | +€8 | +2.0% |
| Profit (loss) for the period | 9904 | €79,492 | €116,344 | +€36,851 | +46.4% |
| Profit (loss) for the period to be appropriated | 9905 | €79,492 | €116,344 | +€36,851 | +46.4% |
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 10 October 2026 via checked.be.