Immo Darwin: 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.
What changed
Immo Darwin
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€186,830
2024 · €5.4m-€5.3m
Equity
€6.1m
2024 · €6.0m+€186,830
Cash
€536,318
2024 · €3.2m-€2.7m
Balance sheet total
€24.2m
2024 · €22.6m+€1.6m
Largest movements
Assets
- Tangible fixed assets +€3.8m
up €3.8m (+41.5%), from €9.1m to €12.8m
of which Leasing and similar rights: +€12.5m
- Cash -€2.7m
down €2.7m (-83.4%), from €3.2m to €536,318
mainly Investment in fixed assets (net) (-€5.5m) and Trade debts (-€1.8m)
- Financial fixed assets +€1.5m
new in 2025: €1.5m
- Receivables within one year -€1.0m
down €1.0m (-19.7%), from €5.2m to €4.2m
of which Trade receivables: -€2.2m
Equity and liabilities
- Accrued charges and deferred income +€3.2m
new in 2025: €3.2m
- Trade debts -€1.8m
down €1.8m (-76.0%), from €2.3m to €561,269
- Debts after one year +€1.3m
up €1.3m (+11.0%), from €11.6m to €12.9m
- Tax, wage and social debts -€559,689
down €559,689 (-96.1%), from €582,373 to €22,684
of which Taxes: -€559,689
- Current portion of long-term debt -€289,940
down €289,940 (-33.8%), from €858,529 to €568,589
Income statement
- Turnover +€9.8m
new in 2025: €9.8m
- Goods and materials +€8.5m
new in 2025: €8.5m
- Gross operating margin -€8.4m
no longer reported in 2025 (was €8.4m)
- Taxes -€1.6m
down €1.6m (-96.2%), from €1.7m to €62,856
- Services and other goods +€237,772
new in 2025: €237,772
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.
Result 2024
€5.4m
Turnover
+€9.8m
Other operating income
+€70,137
Goods and materials
-€8.5m
Services and other goods
-€237,772
Depreciation
-€39,884
Other operating charges
+€162,048
Other operating items
-€8.3m
Financial income
+€905
Financial charges
+€214,785
Taxes
+€1.6m
Result 2025
€186,830
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.1m
Investment
-€5.5m
Financing
+€744,354
Cash 2024
€3.2m
From operations (derived)
+€2.1m
Net result for the year
+€186,830
Depreciation
+€247,694
Receivables within one year
+€1.0m
Deferred charges and accrued income
-€58,068
Trade debts
-€1.8m
Tax, wage and social debts
-€559,689
Other debts
-€199,599
Accrued charges and deferred income
+€3.2m
Investment (derived)
-€5.5m
Investment in fixed assets (net)
-€5.5m
Financing
+€744,354
Debts after one year
+€1.3m
Current portion of long-term debt
-€289,940
Short-term financial debts
-€248,911
Cash 2025
€536,318
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,569,370 | €24,156,548 | +€1.6m | +7.0% |
| Fixed assets | 21/28 | €9,059,348 | €14,315,063 | +€5.3m | +58.0% |
| Tangible fixed assets | 22/27 | €9,059,348 | €12,815,063 | +€3.8m | +41.5% |
| Land and buildings | 22 | €9,059,348 | €350,837 | -€8.7m | -96.1% |
| Leasing and similar rights | 25 | - | €12,464,226 | +€12.5m | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | - | €1,500,000 | +€1.5m | |
| Other financial fixed assets | 284/8 | - | €1,500,000 | +€1.5m | |
| Amounts receivable and cash guarantees | 285/8 | - | €1,500,000 | +€1.5m | |
| Current assets | 29/58 | €13,510,021 | €9,841,484 | -€3.7m | -27.2% |
| Stocks and contracts in progress | 3 | €5,061,692 | €5,061,692 | = | 0.0% |
| Stocks | 30/36 | €5,061,692 | €5,061,692 | = | 0.0% |
| Property held for sale | 35 | - | €5,061,692 | +€5.1m | |
| Amounts receivable within one year | 40/41 | €5,212,282 | €4,185,406 | -€1.0m | -19.7% |
| Trade receivables | 40 | €2,699,540 | €542,512 | -€2.2m | -79.9% |
| Other amounts receivable | 41 | €2,512,741 | €3,642,894 | +€1.1m | +45.0% |
| Cash at bank and in hand | 54/58 | €3,236,048 | €536,318 | -€2.7m | -83.4% |
| Deferred charges and accrued income | 490/1 | - | €58,068 | +€58,068 | |
| Total equity and liabilities | 10/49 | €22,569,370 | €24,156,548 | +€1.6m | +7.0% |
| Equity | 10/15 | €5,960,303 | €6,147,132 | +€186,830 | +3.1% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €4,960,303 | €5,147,132 | +€186,830 | +3.8% |
| Distributable reserves | 133 | €4,960,303 | €5,147,132 | +€186,830 | +3.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €16,609,067 | €18,009,415 | +€1.4m | +8.4% |
| Amounts payable after more than one year | 17 | €11,647,077 | €12,930,282 | +€1.3m | +11.0% |
| Financial debts | 170/4 | €11,647,077 | €12,930,282 | +€1.3m | +11.0% |
| Subordinated loans | 170 | - | €50,000 | +€50,000 | |
| Leasing and similar obligations | 172 | - | €9,689,282 | +€9.7m | |
| Credit institutions | 173 | - | €3,191,000 | +€3.2m | |
| Amounts payable within one year | 42/48 | €4,961,990 | €1,885,372 | -€3.1m | -62.0% |
| Current portion of amounts payable after more than one year | 42 | €858,529 | €568,589 | -€289,940 | -33.8% |
| Financial debts | 43 | €249,551 | €639 | -€248,911 | -99.7% |
| Credit institutions | 430/8 | €249,551 | €639 | -€248,911 | -99.7% |
| Trade debts | 44 | €2,339,749 | €561,269 | -€1.8m | -76.0% |
| Suppliers | 440/4 | €2,339,749 | €561,269 | -€1.8m | -76.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €582,373 | €22,684 | -€559,689 | -96.1% |
| Taxes | 450/3 | €582,373 | €22,684 | -€559,689 | -96.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €931,789 | €732,189 | -€199,599 | -21.4% |
| Accrued charges and deferred income | 492/3 | - | €3,193,762 | +€3.2m | |
| Operating income | 70/76A | - | €9,958,677 | +€10.0m | |
| Turnover | 70 | - | €9,830,472 | +€9.8m | |
| Other operating income | 74 | - | €70,137 | +€70,137 | |
| Non-recurring operating income | 76A | - | €58,068 | +€58,068 | |
| Operating charges | 60/66A | - | €9,011,530 | +€9.0m | |
| Goods for resale, raw materials and consumables | 60 | - | €8,513,005 | +€8.5m | |
| Purchases | 600/8 | - | €8,513,005 | +€8.5m | |
| Services and other goods | 61 | - | €237,772 | +€237,772 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207,809 | €247,694 | +€39,884 | +19.2% |
| Other operating charges | 640/8 | €175,108 | €13,060 | -€162,048 | -92.5% |
| Gross operating margin | 9900 | €8,399,003 | - | -€8.4m | |
| Operating profit (loss) | 9901 | €8,016,085 | €947,147 | -€7.1m | -88.2% |
| Financial income | 75/76B | €81 | €985 | +€905 | +1,124% |
| Recurring financial income | 75 | €81 | €985 | +€905 | +1,124% |
| Income from current assets | 751 | - | €985 | +€985 | |
| Other financial income | 752/9 | - | €0 | = | |
| Financial charges | 65/66B | €913,231 | €698,447 | -€214,785 | -23.5% |
| Recurring financial charges | 65 | €913,231 | €698,447 | -€214,785 | -23.5% |
| Debt charges | 650 | - | €696,071 | +€696,071 | |
| Other financial charges | 652/9 | - | €2,376 | +€2,376 | |
| Profit (loss) for the period before taxes | 9903 | €7,102,934 | €249,686 | -€6.9m | -96.5% |
| Income taxes | 67/77 | €1,653,449 | €62,856 | -€1.6m | -96.2% |
| Taxes | 670/3 | - | €80,000 | +€80,000 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €17,144 | +€17,144 | |
| Profit (loss) for the period | 9904 | €5,449,485 | €186,830 | -€5.3m | -96.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,449,485 | €186,830 | -€5.3m | -96.6% |
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.