IMMO DE WARANDE: 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 DE WARANDE
Largest movements
- Cash +€43,651
up €43,651 (+29,920%), from €146 to €43,797
- Tangible fixed assets -€27,395
down €27,395 (-6.0%), from €454,398 to €427,003
of which Land and buildings: -€23,042
- Debts after one year -€53,253
down €53,253 (-21.0%), from €253,109 to €199,856
of which Financial debts: -€53,253
- Reserves +€53,000
up €53,000 (+56.9%), from €93,200 to €146,200
of which Distributable reserves: +€53,000
- Tax, wage and social debts +€5,962
up €5,962 (+89.3%), from €6,679 to €12,641
of which Taxes: +€4,606
- Current portion of long-term debt +€4,925
up €4,925 (+19.1%), from €25,847 to €30,773
- Gross operating margin +€49,020
up €49,020 (+59.6%), from €82,282 to €131,302
- Depreciation -€9,781
down €9,781 (-26.6%), from €36,815 to €27,035
- Taxes +€5,370
up €5,370 (+143%), from €3,748 to €9,118
- Other operating charges -€4,660
down €4,660 (-24.9%), from €18,715 to €14,055
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €461,744 | €479,560 | +€17,815 | +3.9% |
| Fixed assets | 21/28 | €454,398 | €427,003 | -€27,395 | -6.0% |
| Tangible fixed assets | 22/27 | €454,398 | €427,003 | -€27,395 | -6.0% |
| Land and buildings | 22 | €442,105 | €419,063 | -€23,042 | -5.2% |
| Furniture and vehicles | 24 | €12,294 | €7,940 | -€4,353 | -35.4% |
| Current assets | 29/58 | €7,346 | €52,557 | +€45,211 | +615% |
| Amounts receivable within one year | 40/41 | €6,750 | €7,310 | +€560 | +8.3% |
| Trade receivables | 40 | €6,750 | €7,310 | +€560 | +8.3% |
| Cash at bank and in hand | 54/58 | €146 | €43,797 | +€43,651 | +29,920% |
| Deferred charges and accrued income | 490/1 | €450 | €1,450 | +€1,000 | +222% |
| Total equity and liabilities | 10/49 | €461,744 | €479,560 | +€17,815 | +3.9% |
| Equity | 10/15 | €171,559 | €226,799 | +€55,241 | +32.2% |
| Contributions | 10/11 | €80,573 | €80,573 | = | 0.0% |
| Reserves | 13 | €93,200 | €146,200 | +€53,000 | +56.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €87,000 | €140,000 | +€53,000 | +60.9% |
| Profit (loss) carried forward | 14 | -€2,215 | €26 | +€2,241 | |
| Amounts payable | 17/49 | €290,186 | €252,761 | -€37,425 | -12.9% |
| Amounts payable after more than one year | 17 | €253,109 | €199,856 | -€53,253 | -21.0% |
| Financial debts | 170/4 | €198,109 | €144,856 | -€53,253 | -26.9% |
| Other amounts payable | 178/9 | €55,000 | €55,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €37,077 | €52,428 | +€15,351 | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €25,847 | €30,773 | +€4,925 | +19.1% |
| Financial debts | 43 | €1,064 | - | -€1,064 | |
| Credit institutions | 430/8 | €1,064 | - | -€1,064 | |
| Trade debts | 44 | €2,361 | €6,723 | +€4,362 | +185% |
| Suppliers | 440/4 | €2,361 | €6,723 | +€4,362 | +185% |
| Advances received on contracts in progress | 46 | €610 | - | -€610 | |
| Taxes, remuneration and social security | 45 | €6,679 | €12,641 | +€5,962 | +89.3% |
| Taxes | 450/3 | €1,065 | €5,671 | +€4,606 | +433% |
| Remuneration and social security | 454/9 | €5,614 | €6,970 | +€1,356 | +24.2% |
| Other amounts payable | 47/48 | €516 | €2,292 | +€1,776 | +344% |
| Accrued charges and deferred income | 492/3 | - | €476 | +€476 | |
| Remuneration, social security and pensions | 62 | €20,158 | €21,085 | +€927 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,815 | €27,035 | -€9,781 | -26.6% |
| Other operating charges | 640/8 | €18,715 | €14,055 | -€4,660 | -24.9% |
| Gross operating margin | 9900 | €82,282 | €131,302 | +€49,020 | +59.6% |
| Operating profit (loss) | 9901 | €6,594 | €69,128 | +€62,534 | +948% |
| Financial charges | 65/66B | €5,522 | €4,823 | -€699 | -12.7% |
| Recurring financial charges | 65 | €5,522 | €4,823 | -€699 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €1,072 | €64,305 | +€63,233 | +5,899% |
| Income taxes | 67/77 | €3,748 | €9,118 | +€5,370 | +143% |
| Profit (loss) for the period | 9904 | -€2,676 | €55,187 | +€57,863 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,676 | €55,187 | +€57,863 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.