IMMO BEHEER WARSON: 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.
IMMO BEHEER WARSON
Largest movements
- Tangible fixed assets +€57,783
up €57,783 (+12.4%), from €465,963 to €523,746
- Cash -€51,390
down €51,390 (-62.3%), from €82,477 to €31,087
mainly Investment in fixed assets (net) (-€86,919) and Other debts (-€4,781)
- Profit (loss) carried forward +€9,389
up €9,389 (+3.7%), from €253,648 to €263,037
- Depreciation +€12,556
up €12,556 (+75.7%), from €16,580 to €29,136
- Financial income -€8,276
down €8,276 (-100%), from €8,276 to €0
- Taxes +€3,074
up €3,074 (+640%), from €480 to €3,554
- Gross operating margin -€2,548
down €2,548 (-4.3%), from €59,456 to €56,907
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 | €552,512 | €556,835 | +€4,323 | +0.8% |
| Fixed assets | 21/28 | €465,963 | €523,746 | +€57,783 | +12.4% |
| Tangible fixed assets | 22/27 | €465,963 | €523,746 | +€57,783 | +12.4% |
| Land and buildings | 22 | €465,963 | €523,746 | +€57,783 | +12.4% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €86,550 | €33,089 | -€53,460 | -61.8% |
| Amounts receivable within one year | 40/41 | €4,073 | €2,002 | -€2,070 | -50.8% |
| Other amounts receivable | 41 | €4,073 | €2,002 | -€2,070 | -50.8% |
| Cash at bank and in hand | 54/58 | €82,477 | €31,087 | -€51,390 | -62.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €552,512 | €556,835 | +€4,323 | +0.8% |
| Equity | 10/15 | €510,415 | €519,804 | +€9,389 | +1.8% |
| Contributions | 10/11 | €101,008 | €101,008 | = | 0.0% |
| Capital | 10 | €101,008 | €101,008 | = | 0.0% |
| Issued capital | 100 | €101,008 | €101,008 | = | 0.0% |
| Reserves | 13 | €155,759 | €155,759 | = | 0.0% |
| Non-distributable reserves | 130/1 | €80,101 | €80,101 | = | 0.0% |
| Legal reserve | 130 | €80,101 | €80,101 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €69,659 | €69,659 | = | 0.0% |
| Profit (loss) carried forward | 14 | €253,648 | €263,037 | +€9,389 | +3.7% |
| Amounts payable | 17/49 | €42,098 | €37,031 | -€5,067 | -12.0% |
| Amounts payable within one year | 42/48 | €42,098 | €37,031 | -€5,067 | -12.0% |
| Trade debts | 44 | €1,770 | €0 | -€1,770 | -100% |
| Suppliers | 440/4 | €1,770 | €0 | -€1,770 | -100% |
| Taxes, remuneration and social security | 45 | - | €1,484 | +€1,484 | |
| Taxes | 450/3 | - | €1,484 | +€1,484 | |
| Other amounts payable | 47/48 | €40,328 | €35,547 | -€4,781 | -11.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,580 | €29,136 | +€12,556 | +75.7% |
| Other operating charges | 640/8 | €13,713 | €13,893 | +€180 | +1.3% |
| Gross operating margin | 9900 | €59,456 | €56,907 | -€2,548 | -4.3% |
| Operating profit (loss) | 9901 | €29,163 | €13,879 | -€15,284 | -52.4% |
| Financial income | 75/76B | €8,276 | €0 | -€8,276 | -100% |
| Recurring financial income | 75 | €8,276 | €0 | -€8,276 | -100% |
| Financial charges | 65/66B | €1,194 | €935 | -€259 | -21.7% |
| Recurring financial charges | 65 | €1,194 | €935 | -€259 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €36,244 | €12,943 | -€23,301 | -64.3% |
| Income taxes | 67/77 | €480 | €3,554 | +€3,074 | +640% |
| Profit (loss) for the period | 9904 | €35,764 | €9,389 | -€26,375 | -73.7% |
| Profit (loss) for the period to be appropriated | 9905 | €35,764 | €9,389 | -€26,375 | -73.7% |
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 14 October 2026 via checked.be.