IMMO-W: what changed
Two fiscal 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-W
Largest movements
- Cash -€33,805
down €33,805 (-33.1%), from €102,161 to €68,356
mainly Contributions, distributions and other (-€88,000) and Other debts (-€7,915)
- Receivables within one year +€3,978
up €3,978 (+62.4%), from €6,378 to €10,356
of which Trade receivables: +€3,877
- Deferred charges and accrued income -€2,143
down €2,143 (-79.4%), from €2,697 to €554
- Profit (loss) carried forward -€21,887
down €21,887 (-95.2%), from €22,997 to €1,110
- Other debts -€7,915
down €7,915 (-13.7%), from €57,830 to €49,914
- Tax, wage and social debts -€1,231
down €1,231 (-5.6%), from €22,160 to €20,929
- Gross operating margin -€7,508
down €7,508 (-7.5%), from €99,492 to €91,985
- Taxes -€2,012
down €2,012 (-7.6%), from €26,337 to €24,325
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.
Cash bridge derived
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 | €111,629 | €80,524 | -€31,105 | -27.9% |
| Fixed assets | 21/28 | €393 | €1,258 | +€865 | +220.5% |
| Tangible fixed assets | 22/27 | €393 | €1,258 | +€865 | +220.5% |
| Plant, machinery and equipment | 23 | €393 | €1,258 | +€865 | +220.5% |
| Current assets | 29/58 | €111,236 | €79,266 | -€31,970 | -28.7% |
| Amounts receivable within one year | 40/41 | €6,378 | €10,356 | +€3,978 | +62.4% |
| Trade receivables | 40 | €804 | €4,681 | +€3,877 | +482.0% |
| Other amounts receivable | 41 | €5,574 | €5,675 | +€101 | +1.8% |
| Cash at bank and in hand | 54/58 | €102,161 | €68,356 | -€33,805 | -33.1% |
| Deferred charges and accrued income | 490/1 | €2,697 | €554 | -€2,143 | -79.4% |
| Total equity and liabilities | 10/49 | €111,629 | €80,524 | -€31,105 | -27.9% |
| Equity | 10/15 | €27,997 | €6,110 | -€21,887 | -78.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,997 | €1,110 | -€21,887 | -95.2% |
| Amounts payable | 17/49 | €83,632 | €74,414 | -€9,218 | -11.0% |
| Amounts payable within one year | 42/48 | €83,632 | €74,414 | -€9,218 | -11.0% |
| Trade debts | 44 | €3,642 | €3,570 | -€72 | -2.0% |
| Suppliers | 440/4 | €3,642 | €3,570 | -€72 | -2.0% |
| Taxes, remuneration and social security | 45 | €22,160 | €20,929 | -€1,231 | -5.6% |
| Taxes | 450/3 | €22,160 | €20,929 | -€1,231 | -5.6% |
| Other amounts payable | 47/48 | €57,830 | €49,914 | -€7,915 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €565 | €834 | +€269 | +47.5% |
| Other operating charges | 640/8 | €614 | €634 | +€20 | +3.2% |
| Gross operating margin | 9900 | €99,492 | €91,985 | -€7,508 | -7.5% |
| Operating profit (loss) | 9901 | €98,314 | €90,517 | -€7,796 | -7.9% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €73 | €79 | +€6 | +8.8% |
| Recurring financial charges | 65 | €73 | €79 | +€6 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €98,241 | €90,439 | -€7,802 | -7.9% |
| Income taxes | 67/77 | €26,337 | €24,325 | -€2,012 | -7.6% |
| Profit (loss) for the period | 9904 | €71,904 | €66,113 | -€5,790 | -8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €71,904 | €66,113 | -€5,790 | -8.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.