IMMO WADEL: 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 WADEL
Largest movements
- Tangible fixed assets +€69,993
up €69,993 (+9.3%), from €755,139 to €825,131
of which Land and buildings: +€70,381
- Cash +€37,814
up €37,814 (+108.6%), from €34,833 to €72,647
mainly Debts after one year (+€76,755) and Depreciation (+€67,395)
- Debts after one year +€76,755
up €76,755 (+174.3%), from €44,029 to €120,784
of which Financial debts: +€72,065
- Other debts +€60,000
up €60,000 (+8.1%), from €744,837 to €804,837
- Profit (loss) carried forward -€41,712
down €41,712 (-45.4%), from -€91,941 to -€133,653
- Gross operating margin -€46,421
down €46,421 (-58.7%), from €79,143 to €32,722
- Depreciation +€16,205
up €16,205 (+31.7%), from €51,190 to €67,395
- Financial charges +€1,014
up €1,014 (+69.5%), from €1,459 to €2,473
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 | €792,012 | €899,010 | +€106,997 | +13.5% |
| Fixed assets | 21/28 | €755,139 | €825,131 | +€69,993 | +9.3% |
| Tangible fixed assets | 22/27 | €755,139 | €825,131 | +€69,993 | +9.3% |
| Land and buildings | 22 | €752,294 | €822,674 | +€70,381 | +9.4% |
| Plant, machinery and equipment | 23 | €2,845 | €2,457 | -€388 | -13.6% |
| Current assets | 29/58 | €36,874 | €73,878 | +€37,005 | +100.4% |
| Cash at bank and in hand | 54/58 | €34,833 | €72,647 | +€37,814 | +108.6% |
| Deferred charges and accrued income | 490/1 | €2,041 | €1,232 | -€809 | -39.6% |
| Total equity and liabilities | 10/49 | €792,012 | €899,010 | +€106,997 | +13.5% |
| Equity | 10/15 | -€13,855 | -€55,566 | -€41,712 | -301.1% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €3,718 | €3,718 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,718 | €3,718 | = | 0.0% |
| Legal reserve | 130 | €3,718 | €3,718 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€91,941 | -€133,653 | -€41,712 | -45.4% |
| Amounts payable | 17/49 | €805,867 | €954,576 | +€148,709 | +18.5% |
| Amounts payable after more than one year | 17 | €44,029 | €120,784 | +€76,755 | +174.3% |
| Financial debts | 170/4 | €36,959 | €109,024 | +€72,065 | +195.0% |
| Other amounts payable | 178/9 | €7,070 | €11,760 | +€4,690 | +66.3% |
| Amounts payable within one year | 42/48 | €761,838 | €833,792 | +€71,954 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €16,241 | €25,150 | +€8,908 | +54.8% |
| Trade debts | 44 | €760 | €3,806 | +€3,046 | +400.8% |
| Suppliers | 440/4 | €760 | €3,806 | +€3,046 | +400.8% |
| Other amounts payable | 47/48 | €744,837 | €804,837 | +€60,000 | +8.1% |
| Non-recurring operating income | 76A | €43,025 | €573 | -€42,452 | -98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,190 | €67,395 | +€16,205 | +31.7% |
| Other operating charges | 640/8 | €4,933 | €4,566 | -€367 | -7.4% |
| Gross operating margin | 9900 | €79,143 | €32,722 | -€46,421 | -58.7% |
| Operating profit (loss) | 9901 | €23,020 | -€39,239 | -€62,259 | |
| Financial charges | 65/66B | €1,459 | €2,473 | +€1,014 | +69.5% |
| Recurring financial charges | 65 | €1,459 | €2,473 | +€1,014 | +69.5% |
| Profit (loss) for the period before taxes | 9903 | €21,562 | -€41,712 | -€63,273 | |
| Profit (loss) for the period | 9904 | €21,562 | -€41,712 | -€63,273 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,562 | -€41,712 | -€63,273 |
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 8 October 2026 via checked.be.