IMMO ADW: what changed
Two fiscal 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.
IMMO ADW
Largest movements
- Cash -€14,554
down €14,554 (-49.6%), from €29,354 to €14,800
mainly Debts after one year (-€24,586) and Tax, wage and social debts (-€6,282)
- Tangible fixed assets -€8,876
down €8,876 (-1.1%), from €824,312 to €815,436
- Debts after one year -€24,586
down €24,586 (-11.7%), from €209,574 to €184,988
- Other operating charges -€833
down €833 (-17.5%), from €4,751 to €3,918
- Taxes +€330
up €330 (+104.1%), from €317 to €647
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 | €882,123 | €853,951 | -€28,173 | -3.2% |
| Formation expenses | 20 | €28,458 | €21,489 | -€6,969 | -24.5% |
| Fixed assets | 21/28 | €824,312 | €815,436 | -€8,876 | -1.1% |
| Tangible fixed assets | 22/27 | €824,312 | €815,436 | -€8,876 | -1.1% |
| Land and buildings | 22 | €824,312 | €815,436 | -€8,876 | -1.1% |
| Current assets | 29/58 | €29,354 | €17,026 | -€12,328 | -42.0% |
| Amounts receivable within one year | 40/41 | - | €1,853 | +€1,853 | |
| Other amounts receivable | 41 | - | €1,853 | +€1,853 | |
| Cash at bank and in hand | 54/58 | €29,354 | €14,800 | -€14,554 | -49.6% |
| Deferred charges and accrued income | 490/1 | - | €373 | +€373 | |
| Total equity and liabilities | 10/49 | €882,123 | €853,951 | -€28,173 | -3.2% |
| Equity | 10/15 | €335,750 | €337,582 | +€1,832 | +0.5% |
| Contributions | 10/11 | €318,600 | €318,600 | = | 0.0% |
| Outside capital | 11 | €318,600 | €318,600 | = | 0.0% |
| Other | 1109/19 | €318,600 | €318,600 | = | 0.0% |
| Reserves | 13 | €17,000 | €17,000 | = | 0.0% |
| Distributable reserves | 133 | €17,000 | €17,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €150 | €1,982 | +€1,832 | +1218.8% |
| Amounts payable | 17/49 | €546,373 | €516,369 | -€30,004 | -5.5% |
| Amounts payable after more than one year | 17 | €209,574 | €184,988 | -€24,586 | -11.7% |
| Financial debts | 170/4 | €209,574 | €184,988 | -€24,586 | -11.7% |
| Amounts payable within one year | 42/48 | €334,049 | €323,413 | -€10,636 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €24,296 | €24,586 | +€290 | +1.2% |
| Taxes, remuneration and social security | 45 | €8,819 | €2,537 | -€6,282 | -71.2% |
| Taxes | 450/3 | €8,819 | €2,537 | -€6,282 | -71.2% |
| Other amounts payable | 47/48 | €300,933 | €296,290 | -€4,643 | -1.5% |
| Accrued charges and deferred income | 492/3 | €2,751 | €7,968 | +€5,217 | +189.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,947 | €15,845 | -€102 | -0.6% |
| Other operating charges | 640/8 | €4,751 | €3,918 | -€833 | -17.5% |
| Gross operating margin | 9900 | €32,149 | €32,361 | +€211 | +0.7% |
| Operating profit (loss) | 9901 | €11,451 | €12,598 | +€1,147 | +10.0% |
| Financial charges | 65/66B | €10,408 | €10,120 | -€289 | -2.8% |
| Recurring financial charges | 65 | €10,408 | €10,120 | -€289 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €1,043 | €2,478 | +€1,435 | +137.6% |
| Income taxes | 67/77 | €317 | €647 | +€330 | +104.1% |
| Profit (loss) for the period | 9904 | €726 | €1,832 | +€1,105 | +152.2% |
| Profit (loss) for the period to be appropriated | 9905 | €726 | €1,832 | +€1,105 | +152.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.