IMMO WAGLAS: 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 WAGLAS
Largest movements
- Receivables within one year +€52,168
up €52,168 (+46.0%), from €113,408 to €165,576
of which Other amounts receivable: +€45,914
- Cash +€49,195
up €49,195 (+43.7%), from €112,612 to €161,807
mainly Net result for the year (+€154,818) and Depreciation (+€113,885)
- Reserves +€154,818
up €154,818 (+4.7%), from €3.3m to €3.5m
of which Distributable reserves: +€173,375
- Debts after one year -€74,856
down €74,856 (-66.5%), from €112,500 to €37,644
- Depreciation -€35,243
down €35,243 (-23.6%), from €149,128 to €113,885
- Gross operating margin +€32,517
up €32,517 (+8.8%), from €370,410 to €402,927
- Financial income -€28,864
down €28,864 (-43.6%), from €66,163 to €37,299
of which Financial income: -€24,472
- Taxes +€8,557
up €8,557 (+18.2%), from €47,020 to €55,578
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 | €3,856,520 | €3,923,151 | +€66,631 | +1.7% |
| Fixed assets | 21/28 | €1,865,878 | €1,833,813 | -€32,066 | -1.7% |
| Tangible fixed assets | 22/27 | €1,834,545 | €1,802,479 | -€32,066 | -1.7% |
| Land and buildings | 22 | €1,408,816 | €1,361,207 | -€47,609 | -3.4% |
| Plant, machinery and equipment | 23 | €8,256 | €7,104 | -€1,152 | -14.0% |
| Other tangible fixed assets | 26 | €417,473 | €434,168 | +€16,696 | +4.0% |
| Financial fixed assets | 28 | €31,333 | €31,333 | = | 0.0% |
| Current assets | 29/58 | €1,990,642 | €2,089,338 | +€98,696 | +5.0% |
| Amounts receivable within one year | 40/41 | €113,408 | €165,576 | +€52,168 | +46.0% |
| Trade receivables | 40 | €4,512 | €10,766 | +€6,253 | +139% |
| Other amounts receivable | 41 | €108,896 | €154,810 | +€45,914 | +42.2% |
| Current investments | 50/53 | €1,751,723 | €1,751,723 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €112,612 | €161,807 | +€49,195 | +43.7% |
| Deferred charges and accrued income | 490/1 | €12,900 | €10,233 | -€2,667 | -20.7% |
| Total equity and liabilities | 10/49 | €3,856,520 | €3,923,151 | +€66,631 | +1.7% |
| Equity | 10/15 | €3,565,437 | €3,720,256 | +€154,818 | +4.3% |
| Contributions | 10/11 | €240,183 | €240,183 | = | 0.0% |
| Capital | 10 | €240,183 | €240,183 | = | 0.0% |
| Issued capital | 100 | €240,183 | €240,183 | = | 0.0% |
| Reserves | 13 | €3,325,255 | €3,480,073 | +€154,818 | +4.7% |
| Non-distributable reserves | 130/1 | €24,018 | €24,018 | = | 0.0% |
| Legal reserve | 130 | €24,018 | €24,018 | = | 0.0% |
| Tax-exempt reserves | 132 | €237,517 | €218,961 | -€18,556 | -7.8% |
| Distributable reserves | 133 | €3,063,719 | €3,237,094 | +€173,375 | +5.7% |
| Provisions and deferred taxes | 16 | €65,109 | €57,596 | -€7,513 | -11.5% |
| Deferred taxes | 168 | €65,109 | €57,596 | -€7,513 | -11.5% |
| Amounts payable | 17/49 | €225,974 | €145,300 | -€80,675 | -35.7% |
| Amounts payable after more than one year | 17 | €112,500 | €37,644 | -€74,856 | -66.5% |
| Financial debts | 170/4 | €112,500 | €37,644 | -€74,856 | -66.5% |
| Amounts payable within one year | 42/48 | €110,133 | €103,874 | -€6,259 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €74,281 | €74,856 | +€574 | +0.8% |
| Trade debts | 44 | €35,852 | €28,968 | -€6,884 | -19.2% |
| Suppliers | 440/4 | €35,852 | €28,968 | -€6,884 | -19.2% |
| Taxes, remuneration and social security | 45 | - | €50 | +€50 | |
| Taxes | 450/3 | - | €50 | +€50 | |
| Accrued charges and deferred income | 492/3 | €3,341 | €3,781 | +€440 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149,128 | €113,885 | -€35,243 | -23.6% |
| Other operating charges | 640/8 | €119,054 | €122,191 | +€3,137 | +2.6% |
| Gross operating margin | 9900 | €370,410 | €402,927 | +€32,517 | +8.8% |
| Operating profit (loss) | 9901 | €102,229 | €166,851 | +€64,623 | +63.2% |
| Financial income | 75/76B | €66,163 | €37,299 | -€28,864 | -43.6% |
| Recurring financial income | 75 | €61,770 | €37,299 | -€24,472 | -39.6% |
| Non-recurring financial income | 76B | €4,393 | - | -€4,393 | |
| Financial charges | 65/66B | €1,732 | €1,267 | -€465 | -26.9% |
| Recurring financial charges | 65 | €1,732 | €1,267 | -€465 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €166,660 | €202,884 | +€36,224 | +21.7% |
| Transfer from deferred taxes | 780 | €10,017 | €7,513 | -€2,504 | -25.0% |
| Income taxes | 67/77 | €47,020 | €55,578 | +€8,557 | +18.2% |
| Profit (loss) for the period | 9904 | €129,656 | €154,818 | +€25,163 | +19.4% |
| Transfer from tax-exempt reserves | 789 | €30,050 | €22,538 | -€7,513 | -25.0% |
| Transfer to tax-exempt reserves | 689 | €11,280 | €3,981 | -€7,299 | -64.7% |
| Profit (loss) for the period to be appropriated | 9905 | €148,425 | €173,375 | +€24,949 | +16.8% |
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 22 October 2026 via checked.be.