IMMO - SNOW - WHITE: 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 - SNOW - WHITE
Largest movements
- Cash +€146,517
up €146,517 (+426%), from €34,427 to €180,943
mainly Net result for the year (+€240,154) and Investment in fixed assets (net) (+€42,777)
- Current investments +€115,475
up €115,475 (+12.4%), from €927,666 to €1.0m
- Tangible fixed assets -€48,765
down €48,765 (-38.8%), from €125,720 to €76,955
of which Land and buildings: -€48,136
- Reserves +€240,154
up €240,154 (+129%), from €186,646 to €426,800
of which Distributable reserves: +€240,154
- Tax, wage and social debts -€31,915
down €31,915 (-76.0%), from €42,008 to €10,093
- Other debts +€24,769
up €24,769 (+5.2%), from €475,258 to €500,026
- Gross operating margin +€190,613
up €190,613 (+99.7%), from €191,116 to €381,728
- Taxes +€69,241
up €69,241 (+161%), from €43,107 to €112,348
- Depreciation -€19,762
down €19,762 (-76.7%), from €25,751 to €5,988
- Financial income -€10,603
down €10,603 (-31.5%), from €33,646 to €23,043
- Financial charges -€5,792
down €5,792 (-14.5%), from €39,850 to €34,058
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 | €1,098,825 | €1,331,403 | +€232,579 | +21.2% |
| Fixed assets | 21/28 | €126,385 | €77,620 | -€48,765 | -38.6% |
| Tangible fixed assets | 22/27 | €125,720 | €76,955 | -€48,765 | -38.8% |
| Land and buildings | 22 | €123,832 | €75,697 | -€48,136 | -38.9% |
| Plant, machinery and equipment | 23 | €1,888 | €1,259 | -€629 | -33.3% |
| Financial fixed assets | 28 | €665 | €665 | = | 0.0% |
| Current assets | 29/58 | €972,440 | €1,253,784 | +€281,344 | +28.9% |
| Amounts receivable within one year | 40/41 | €701 | €8,069 | +€7,368 | +1,051% |
| Trade receivables | 40 | €701 | €0 | -€701 | -100% |
| Other amounts receivable | 41 | - | €8,069 | +€8,069 | |
| Current investments | 50/53 | €927,666 | €1,043,141 | +€115,475 | +12.4% |
| Cash at bank and in hand | 54/58 | €34,427 | €180,943 | +€146,517 | +426% |
| Deferred charges and accrued income | 490/1 | €9,646 | €21,631 | +€11,985 | +124% |
| Total equity and liabilities | 10/49 | €1,098,825 | €1,331,403 | +€232,579 | +21.2% |
| Equity | 10/15 | €580,046 | €820,200 | +€240,154 | +41.4% |
| Contributions | 10/11 | €393,400 | €393,400 | = | 0.0% |
| Capital | 10 | €393,400 | €393,400 | = | 0.0% |
| Issued capital | 100 | €393,400 | €393,400 | = | 0.0% |
| Reserves | 13 | €186,646 | €426,800 | +€240,154 | +129% |
| Non-distributable reserves | 130/1 | €39,340 | €39,340 | = | 0.0% |
| Legal reserve | 130 | €39,340 | €39,340 | = | 0.0% |
| Distributable reserves | 133 | €147,306 | €387,460 | +€240,154 | +163% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €518,779 | €511,203 | -€7,576 | -1.5% |
| Amounts payable within one year | 42/48 | €517,690 | €510,155 | -€7,536 | -1.5% |
| Trade debts | 44 | €424 | €35 | -€389 | -91.7% |
| Suppliers | 440/4 | €424 | €35 | -€389 | -91.7% |
| Taxes, remuneration and social security | 45 | €42,008 | €10,093 | -€31,915 | -76.0% |
| Taxes | 450/3 | €42,008 | €10,093 | -€31,915 | -76.0% |
| Other amounts payable | 47/48 | €475,258 | €500,026 | +€24,769 | +5.2% |
| Accrued charges and deferred income | 492/3 | €1,088 | €1,049 | -€40 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,751 | €5,988 | -€19,762 | -76.7% |
| Other operating charges | 640/8 | €12,776 | €12,222 | -€554 | -4.3% |
| Gross operating margin | 9900 | €191,116 | €381,728 | +€190,613 | +99.7% |
| Operating profit (loss) | 9901 | €152,589 | €363,518 | +€210,929 | +138% |
| Financial income | 75/76B | €33,646 | €23,043 | -€10,603 | -31.5% |
| Recurring financial income | 75 | €33,646 | €23,043 | -€10,603 | -31.5% |
| Financial charges | 65/66B | €39,850 | €34,058 | -€5,792 | -14.5% |
| Recurring financial charges | 65 | €39,850 | €34,058 | -€5,792 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €146,385 | €352,502 | +€206,117 | +141% |
| Income taxes | 67/77 | €43,107 | €112,348 | +€69,241 | +161% |
| Profit (loss) for the period | 9904 | €103,278 | €240,154 | +€136,876 | +133% |
| Profit (loss) for the period to be appropriated | 9905 | €103,278 | €240,154 | +€136,876 | +133% |
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 25 October 2026 via checked.be.