HTW-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.
HTW-IMMO
Largest movements
- Tangible fixed assets +€405,651
up €405,651 (+46.8%), from €866,559 to €1.3m
of which Land and buildings: +€281,871
- Debts after one year +€313,974
up €313,974 (+47.3%), from €664,112 to €978,086
- Other debts +€112,000
up €112,000 (+40.4%), from €277,510 to €389,510
- Profit (loss) carried forward -€55,606
down €55,606 (-64.1%), from -€86,704 to -€142,310
- Current portion of long-term debt +€43,375
new in 2025: €43,375
- Gross operating margin +€43,185
up €43,185, from -€38,102 to €5,083
- Financial charges +€14,046
up €14,046 (+92.6%), from €15,162 to €29,209
- Other operating charges -€2,745
down €2,745 (-84.1%), from €3,264 to €520
- Depreciation +€783
up €783 (+2.6%), from €30,178 to €30,961
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 | €882,884 | €1,289,468 | +€406,584 | +46.1% |
| Fixed assets | 21/28 | €866,559 | €1,272,210 | +€405,651 | +46.8% |
| Tangible fixed assets | 22/27 | €866,559 | €1,272,210 | +€405,651 | +46.8% |
| Land and buildings | 22 | €866,559 | €1,148,430 | +€281,871 | +32.5% |
| Furniture and vehicles | 24 | - | €123,780 | +€123,780 | |
| Current assets | 29/58 | €16,325 | €17,258 | +€933 | +5.7% |
| Cash at bank and in hand | 54/58 | €14,882 | €8,328 | -€6,555 | -44.0% |
| Deferred charges and accrued income | 490/1 | €1,443 | €8,931 | +€7,488 | +519% |
| Total equity and liabilities | 10/49 | €882,884 | €1,289,468 | +€406,584 | +46.1% |
| Equity | 10/15 | -€66,704 | -€122,310 | -€55,606 | -83.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,704 | -€142,310 | -€55,606 | -64.1% |
| Amounts payable | 17/49 | €949,588 | €1,411,778 | +€462,190 | +48.7% |
| Amounts payable after more than one year | 17 | €664,112 | €978,086 | +€313,974 | +47.3% |
| Financial debts | 170/4 | €664,112 | €978,086 | +€313,974 | +47.3% |
| Amounts payable within one year | 42/48 | €285,476 | €433,692 | +€148,216 | +51.9% |
| Current portion of amounts payable after more than one year | 42 | - | €43,375 | +€43,375 | |
| Trade debts | 44 | €7,966 | €807 | -€7,159 | -89.9% |
| Suppliers | 440/4 | €7,966 | €807 | -€7,159 | -89.9% |
| Other amounts payable | 47/48 | €277,510 | €389,510 | +€112,000 | +40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,178 | €30,961 | +€783 | +2.6% |
| Other operating charges | 640/8 | €3,264 | €520 | -€2,745 | -84.1% |
| Gross operating margin | 9900 | -€38,102 | €5,083 | +€43,185 | |
| Operating profit (loss) | 9901 | -€71,544 | -€26,397 | +€45,147 | +63.1% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €15,162 | €29,209 | +€14,046 | +92.6% |
| Recurring financial charges | 65 | €15,162 | €29,209 | +€14,046 | +92.6% |
| Profit (loss) for the period before taxes | 9903 | -€86,704 | -€55,606 | +€31,098 | +35.9% |
| Profit (loss) for the period | 9904 | -€86,704 | -€55,606 | +€31,098 | +35.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€86,704 | -€55,606 | +€31,098 | +35.9% |
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.