fhwd-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.
fhwd-immo
Largest movements
- Tangible fixed assets -€18,195
down €18,195 (-8.3%), from €219,984 to €201,790
- Cash +€11,465
up €11,465 (+129%), from €8,880 to €20,345
mainly Depreciation (+€18,195) and Net result for the year (+€7,476)
- Debts after one year -€9,896
down €9,896 (-18.4%), from €53,725 to €43,830
- Other debts +€4,000
new in 2025: €4,000
- Tax, wage and social debts +€3,375
up €3,375 (+397%), from €850 to €4,225
- Reserves -€3,000
down €3,000 (-17.1%), from €17,500 to €14,500
- Gross operating margin +€4,972
up €4,972 (+19.4%), from €25,629 to €30,601
- Taxes +€1,637
up €1,637 (+82.4%), from €1,987 to €3,624
- Other operating charges +€506
up €506 (+266%), from €191 to €697
- Financial charges -€381
down €381 (-20.3%), from €1,877 to €1,497
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 | €231,235 | €227,075 | -€4,159 | -1.8% |
| Fixed assets | 21/28 | €219,984 | €201,790 | -€18,195 | -8.3% |
| Tangible fixed assets | 22/27 | €219,984 | €201,790 | -€18,195 | -8.3% |
| Land and buildings | 22 | €219,984 | €201,790 | -€18,195 | -8.3% |
| Current assets | 29/58 | €11,251 | €25,286 | +€14,035 | +125% |
| Amounts receivable within one year | 40/41 | €1,510 | €2,240 | +€730 | +48.4% |
| Other amounts receivable | 41 | €1,510 | €2,240 | +€730 | +48.4% |
| Cash at bank and in hand | 54/58 | €8,880 | €20,345 | +€11,465 | +129% |
| Deferred charges and accrued income | 490/1 | €861 | €2,701 | +€1,840 | +214% |
| Total equity and liabilities | 10/49 | €231,235 | €227,075 | -€4,159 | -1.8% |
| Equity | 10/15 | €163,366 | €161,354 | -€2,012 | -1.2% |
| Contributions | 10/11 | €62,162 | €62,162 | = | 0.0% |
| Reserves | 13 | €17,500 | €14,500 | -€3,000 | -17.1% |
| Distributable reserves | 133 | €17,500 | €14,500 | -€3,000 | -17.1% |
| Profit (loss) carried forward | 14 | €80,540 | €82,016 | +€1,476 | +1.8% |
| Investment grants | 15 | €3,164 | €2,677 | -€488 | -15.4% |
| Provisions and deferred taxes | 16 | €2,428 | €2,029 | -€399 | -16.4% |
| Deferred taxes | 168 | €2,428 | €2,029 | -€399 | -16.4% |
| Amounts payable | 17/49 | €65,440 | €63,692 | -€1,748 | -2.7% |
| Amounts payable after more than one year | 17 | €53,725 | €43,830 | -€9,896 | -18.4% |
| Financial debts | 170/4 | €53,725 | €43,830 | -€9,896 | -18.4% |
| Amounts payable within one year | 42/48 | €11,715 | €19,863 | +€8,148 | +69.6% |
| Current portion of amounts payable after more than one year | 42 | €10,495 | €10,760 | +€265 | +2.5% |
| Trade debts | 44 | €370 | €877 | +€507 | +137% |
| Suppliers | 440/4 | €370 | €877 | +€507 | +137% |
| Taxes, remuneration and social security | 45 | €850 | €4,225 | +€3,375 | +397% |
| Taxes | 450/3 | €850 | €4,225 | +€3,375 | +397% |
| Other amounts payable | 47/48 | - | €4,000 | +€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,929 | €18,195 | +€266 | +1.5% |
| Other operating charges | 640/8 | €191 | €697 | +€506 | +266% |
| Gross operating margin | 9900 | €25,629 | €30,601 | +€4,972 | +19.4% |
| Operating profit (loss) | 9901 | €7,509 | €11,710 | +€4,200 | +55.9% |
| Financial income | 75/76B | €488 | €488 | +€0 | 0.0% |
| Recurring financial income | 75 | €488 | €488 | +€0 | 0.0% |
| Financial charges | 65/66B | €1,877 | €1,497 | -€381 | -20.3% |
| Recurring financial charges | 65 | €1,877 | €1,497 | -€381 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €6,120 | €10,700 | +€4,581 | +74.9% |
| Transfer from deferred taxes | 780 | €399 | €399 | +€0 | 0.0% |
| Income taxes | 67/77 | €1,987 | €3,624 | +€1,637 | +82.4% |
| Profit (loss) for the period | 9904 | €4,532 | €7,476 | +€2,944 | +65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,532 | €7,476 | +€2,944 | +65.0% |
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 13 October 2026 via checked.be.