IMMO L.W.A.: 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 L.W.A.
Largest movements
- Tangible fixed assets -€93,418
down €93,418 (-7.3%), from €1.3m to €1.2m
of which Land and buildings: -€94,447
- Cash -€87,190
down €87,190 (-61.0%), from €142,850 to €55,660
mainly Other debts (-€188,278) and Contributions, distributions and other (-€67,000)
- Current investments +€25,729
up €25,729 (+5.0%), from €509,735 to €535,464
- Other debts -€188,278
down €188,278 (-65.4%), from €287,799 to €99,522
- Reserves +€68,644
up €68,644 (+10.9%), from €631,006 to €699,649
of which Tax-exempt reserves: +€68,644
- Debts after one year -€25,000
down €25,000 (-12.2%), from €204,167 to €179,167
- Provisions +€22,881
up €22,881 (+11.9%), from €191,979 to €214,860
- Gross operating margin +€120,132
up €120,132 (+87.2%), from €137,719 to €257,851
- Financial income +€9,403
up €9,403 (+32.6%), from €28,818 to €38,222
- Taxes -€5,912
down €5,912 (-52.1%), from €11,337 to €5,426
- Depreciation -€3,289
down €3,289 (-3.1%), from €104,821 to €101,532
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 | €1,957,306 | €1,814,065 | -€143,241 | -7.3% |
| Fixed assets | 21/28 | €1,282,418 | €1,189,150 | -€93,268 | -7.3% |
| Tangible fixed assets | 22/27 | €1,282,418 | €1,189,000 | -€93,418 | -7.3% |
| Land and buildings | 22 | €1,281,144 | €1,186,696 | -€94,447 | -7.4% |
| Plant, machinery and equipment | 23 | €1,274 | €688 | -€587 | -46.0% |
| Furniture and vehicles | 24 | €0 | €1,616 | +€1,616 | |
| Financial fixed assets | 28 | €0 | €150 | +€150 | |
| Current assets | 29/58 | €674,888 | €624,915 | -€49,973 | -7.4% |
| Amounts receivable within one year | 40/41 | €14,905 | €32,977 | +€18,072 | +121% |
| Trade receivables | 40 | €4,271 | €4,730 | +€459 | +10.7% |
| Other amounts receivable | 41 | €10,634 | €28,247 | +€17,613 | +166% |
| Current investments | 50/53 | €509,735 | €535,464 | +€25,729 | +5.0% |
| Cash at bank and in hand | 54/58 | €142,850 | €55,660 | -€87,190 | -61.0% |
| Deferred charges and accrued income | 490/1 | €7,399 | €815 | -€6,584 | -89.0% |
| Total equity and liabilities | 10/49 | €1,957,306 | €1,814,065 | -€143,241 | -7.3% |
| Equity | 10/15 | €1,219,222 | €1,269,958 | +€50,736 | +4.2% |
| Contributions | 10/11 | €521,000 | €521,000 | = | 0.0% |
| Capital | 10 | €521,000 | €521,000 | = | 0.0% |
| Issued capital | 100 | €521,000 | €521,000 | = | 0.0% |
| Reserves | 13 | €631,006 | €699,649 | +€68,644 | +10.9% |
| Non-distributable reserves | 130/1 | €52,100 | €52,100 | = | 0.0% |
| Legal reserve | 130 | €52,100 | €52,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €578,906 | €647,549 | +€68,644 | +11.9% |
| Profit (loss) carried forward | 14 | €67,216 | €49,309 | -€17,907 | -26.6% |
| Provisions and deferred taxes | 16 | €191,979 | €214,860 | +€22,881 | +11.9% |
| Deferred taxes | 168 | €191,979 | €214,860 | +€22,881 | +11.9% |
| Amounts payable | 17/49 | €546,106 | €329,247 | -€216,859 | -39.7% |
| Amounts payable after more than one year | 17 | €204,167 | €179,167 | -€25,000 | -12.2% |
| Financial debts | 170/4 | €204,167 | €179,167 | -€25,000 | -12.2% |
| Amounts payable within one year | 42/48 | €324,508 | €132,651 | -€191,857 | -59.1% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €2,986 | €6,201 | +€3,215 | +108% |
| Suppliers | 440/4 | €2,986 | €6,201 | +€3,215 | +108% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €8,723 | €1,929 | -€6,794 | -77.9% |
| Taxes | 450/3 | €8,723 | €1,929 | -€6,794 | -77.9% |
| Other amounts payable | 47/48 | €287,799 | €99,522 | -€188,278 | -65.4% |
| Accrued charges and deferred income | 492/3 | €17,431 | €17,429 | -€2 | 0.0% |
| Non-recurring operating income | 76A | - | €181,869 | +€181,869 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,821 | €101,532 | -€3,289 | -3.1% |
| Other operating charges | 640/8 | €20,564 | €23,035 | +€2,471 | +12.0% |
| Gross operating margin | 9900 | €137,719 | €257,851 | +€120,132 | +87.2% |
| Operating profit (loss) | 9901 | €12,334 | €133,284 | +€120,950 | +981% |
| Financial income | 75/76B | €28,818 | €38,222 | +€9,403 | +32.6% |
| Recurring financial income | 75 | €28,818 | €38,222 | +€9,403 | +32.6% |
| Financial charges | 65/66B | €23,297 | €25,461 | +€2,164 | +9.3% |
| Recurring financial charges | 65 | €23,297 | €25,461 | +€2,164 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €17,855 | €146,044 | +€128,189 | +718% |
| Transfer from deferred taxes | 780 | €15,110 | €21,128 | +€6,017 | +39.8% |
| Transfer to deferred taxes | 680 | - | €44,009 | +€44,009 | |
| Income taxes | 67/77 | €11,337 | €5,426 | -€5,912 | -52.1% |
| Profit (loss) for the period | 9904 | €21,628 | €117,736 | +€96,109 | +444% |
| Transfer from tax-exempt reserves | 789 | €45,331 | €63,383 | +€18,052 | +39.8% |
| Transfer to tax-exempt reserves | 689 | - | €132,027 | +€132,027 | |
| Profit (loss) for the period to be appropriated | 9905 | €66,959 | €49,093 | -€17,866 | -26.7% |
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 1 November 2026 via checked.be.