IMMO ASW: 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 ASW
Largest movements
- Stocks and contracts +€496,449
up €496,449 (+85.9%), from €577,965 to €1.1m
- Receivables within one year +€46,749
up €46,749 (+415.5%), from €11,251 to €58,000
- Cash -€41,006
down €41,006 (-93.7%), from €43,752 to €2,746
mainly Stocks and contracts (-€496,449) and Receivables within one year (-€46,749)
- Financial fixed assets +€30,000
new in 2025: €30,000
- Short-term financial debts +€286,000
up €286,000 (+73.0%), from €392,000 to €678,000
- Other debts +€272,551
up €272,551 (+202.8%), from €134,398 to €406,949
- Reserves -€26,234
down €26,234 (-15.0%), from €175,226 to €148,992
- Financial charges +€17,005
up €17,005 (+921.2%), from €1,846 to €18,851
- Gross operating margin -€16,323
down €16,323, from €12,249 to -€4,074
- Taxes -€3,386
down €3,386 (-100.0%), from €3,386 to €0
- Other operating charges +€2,746
up €2,746 (+488.0%), from €563 to €3,308
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 | €767,010 | €1,302,062 | +€535,052 | +69.8% |
| Fixed assets | 21/28 | €134,042 | €164,042 | +€30,000 | +22.4% |
| Tangible fixed assets | 22/27 | €134,042 | €134,042 | = | 0.0% |
| Land and buildings | 22 | €134,042 | €134,042 | = | 0.0% |
| Financial fixed assets | 28 | - | €30,000 | +€30,000 | |
| Current assets | 29/58 | €632,968 | €1,138,021 | +€505,052 | +79.8% |
| Stocks and contracts in progress | 3 | €577,965 | €1,074,414 | +€496,449 | +85.9% |
| Stocks | 30/36 | €577,965 | €1,074,414 | +€496,449 | +85.9% |
| Amounts receivable within one year | 40/41 | €11,251 | €58,000 | +€46,749 | +415.5% |
| Other amounts receivable | 41 | €11,251 | €58,000 | +€46,749 | +415.5% |
| Cash at bank and in hand | 54/58 | €43,752 | €2,746 | -€41,006 | -93.7% |
| Deferred charges and accrued income | 490/1 | - | €2,860 | +€2,860 | |
| Total equity and liabilities | 10/49 | €767,010 | €1,302,062 | +€535,052 | +69.8% |
| Equity | 10/15 | €237,226 | €210,992 | -€26,234 | -11.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €175,226 | €148,992 | -€26,234 | -15.0% |
| Distributable reserves | 133 | €175,226 | €148,992 | -€26,234 | -15.0% |
| Amounts payable | 17/49 | €529,784 | €1,091,070 | +€561,286 | +105.9% |
| Amounts payable within one year | 42/48 | €529,784 | €1,091,070 | +€561,286 | +105.9% |
| Financial debts | 43 | €392,000 | €678,000 | +€286,000 | +73.0% |
| Credit institutions | 430/8 | €392,000 | €678,000 | +€286,000 | +73.0% |
| Trade debts | 44 | - | €2,735 | +€2,735 | |
| Suppliers | 440/4 | - | €2,735 | +€2,735 | |
| Taxes, remuneration and social security | 45 | €3,386 | €3,386 | = | 0.0% |
| Taxes | 450/3 | €3,386 | €3,386 | = | 0.0% |
| Other amounts payable | 47/48 | €134,398 | €406,949 | +€272,551 | +202.8% |
| Other operating charges | 640/8 | €563 | €3,308 | +€2,746 | +488.0% |
| Gross operating margin | 9900 | €12,249 | -€4,074 | -€16,323 | |
| Operating profit (loss) | 9901 | €11,687 | -€7,383 | -€19,069 | |
| Financial charges | 65/66B | €1,846 | €18,851 | +€17,005 | +921.2% |
| Recurring financial charges | 65 | €1,846 | €18,851 | +€17,005 | +921.2% |
| Profit (loss) for the period before taxes | 9903 | €9,841 | -€26,234 | -€36,075 | |
| Income taxes | 67/77 | €3,386 | €0 | -€3,386 | -100.0% |
| Profit (loss) for the period | 9904 | €6,455 | -€26,234 | -€32,689 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,455 | -€26,234 | -€32,689 |
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 7 October 2026 via checked.be.