IMMO WATERLOO 66: 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.
What changed
IMMO WATERLOO 66
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€382,539
2024 · €403,542-€21,003
Equity
€4.3m
2024 · €3.9m+€382,539
Cash
€407,906
2024 · €1.4m-€966,942
Balance sheet total
€6.3m
2024 · €6.2m+€80,616
Largest movements
Assets
- Current investments +€1.0m
up €1.0m (+483%), from €207,583 to €1.2m
- Cash -€966,942
down €966,942 (-70.3%), from €1.4m to €407,906
mainly Current investments (-€1.0m) and Debts after one year (-€406,728)
- Receivables within one year +€184,299
up €184,299 (+107%), from €171,608 to €355,907
of which Other amounts receivable: +€128,650
- Tangible fixed assets -€142,841
down €142,841 (-3.2%), from €4.4m to €4.3m
of which Land and buildings: -€217,890
Equity and liabilities
- Profit (loss) carried forward +€441,262
up €441,262 (+55.3%), from €797,553 to €1.2m
- Debts after one year -€406,728
down €406,728 (-27.9%), from €1.5m to €1.0m
- Tax, wage and social debts +€96,725
new in 2025: €96,725
Income statement
- Other operating income +€85,788
up €85,788 (+4,926%), from €1,742 to €87,529
- Services and other goods +€42,560
up €42,560 (+61.7%), from €68,924 to €111,484
- Turnover -€42,359
down €42,359 (-3.9%), from €1.1m to €1.0m
- Taxes +€41,939
up €41,939 (+26.4%), from €158,990 to €200,929
of which Taxes: +€170,589
- Financial charges -€22,807
down €22,807 (-20.0%), from €114,091 to €91,283
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.
Result 2024
€403,542
Turnover
-€42,359
Other operating income
+€85,788
Services and other goods
-€42,560
Depreciation
+€914
Other operating charges
-€11,203
Financial income
+€7,548
Financial charges
+€22,807
Taxes
-€41,939
Result 2025
€382,539
raises the resultlowers the result
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.
From operations
+€555,337
Investment
-€1.1m
Financing
-€406,728
Cash 2024
€1.4m
From operations (derived)
+€555,337
Net result for the year
+€382,539
Depreciation
+€256,781
Receivables within one year
-€184,299
Deferred charges and accrued income
-€4,489
Provisions
-€19,574
Trade debts
+€52,860
Tax, wage and social debts
+€96,725
Accrued charges and deferred income
-€25,205
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€113,940
Current investments
-€1.0m
Financing
-€406,728
Debts after one year
-€406,728
Cash 2025
€407,906
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,223,182 | €6,303,798 | +€80,616 | +1.3% |
| Fixed assets | 21/28 | €4,436,130 | €4,293,290 | -€142,841 | -3.2% |
| Tangible fixed assets | 22/27 | €4,436,130 | €4,293,290 | -€142,841 | -3.2% |
| Land and buildings | 22 | €4,435,745 | €4,217,855 | -€217,890 | -4.9% |
| Plant, machinery and equipment | 23 | €386 | €0 | -€386 | -100% |
| Assets under construction and advance payments | 27 | - | €75,435 | +€75,435 | |
| Current assets | 29/58 | €1,787,052 | €2,010,508 | +€223,456 | +12.5% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €171,608 | €355,907 | +€184,299 | +107% |
| Trade receivables | 40 | €147,784 | €203,433 | +€55,649 | +37.7% |
| Other amounts receivable | 41 | €23,824 | €152,474 | +€128,650 | +540% |
| Current investments | 50/53 | €207,583 | €1,209,194 | +€1.0m | +483% |
| Other investments | 51/53 | €207,583 | €1,209,194 | +€1.0m | +483% |
| Cash at bank and in hand | 54/58 | €1,374,848 | €407,906 | -€966,942 | -70.3% |
| Deferred charges and accrued income | 490/1 | €33,013 | €37,502 | +€4,489 | +13.6% |
| Total equity and liabilities | 10/49 | €6,223,182 | €6,303,798 | +€80,616 | +1.3% |
| Equity | 10/15 | €3,924,989 | €4,307,527 | +€382,539 | +9.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €3,065,436 | €3,006,713 | -€58,723 | -1.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €809,236 | €750,513 | -€58,723 | -7.3% |
| Distributable reserves | 133 | €2,250,000 | €2,250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €797,553 | €1,238,815 | +€441,262 | +55.3% |
| Provisions and deferred taxes | 16 | €229,049 | €209,474 | -€19,574 | -8.5% |
| Deferred taxes | 168 | €229,049 | €209,474 | -€19,574 | -8.5% |
| Amounts payable | 17/49 | €2,069,145 | €1,786,796 | -€282,348 | -13.6% |
| Amounts payable after more than one year | 17 | €1,455,456 | €1,048,728 | -€406,728 | -27.9% |
| Financial debts | 170/4 | €1,455,456 | €1,048,728 | -€406,728 | -27.9% |
| Credit institutions | 173 | €1,455,456 | €1,048,728 | -€406,728 | -27.9% |
| Amounts payable within one year | 42/48 | €433,850 | €583,435 | +€149,585 | +34.5% |
| Current portion of amounts payable after more than one year | 42 | €406,728 | €406,728 | = | 0.0% |
| Trade debts | 44 | €27,122 | €79,982 | +€52,860 | +195% |
| Suppliers | 440/4 | €27,122 | €79,982 | +€52,860 | +195% |
| Taxes, remuneration and social security | 45 | - | €96,725 | +€96,725 | |
| Taxes | 450/3 | - | €96,725 | +€96,725 | |
| Accrued charges and deferred income | 492/3 | €179,839 | €154,634 | -€25,205 | -14.0% |
| Operating income | 70/76A | €1,081,836 | €1,125,266 | +€43,429 | +4.0% |
| Turnover | 70 | €1,080,095 | €1,037,736 | -€42,359 | -3.9% |
| Other operating income | 74 | €1,742 | €87,529 | +€85,788 | +4,926% |
| Operating charges | 60/66A | €433,340 | €486,189 | +€52,849 | +12.2% |
| Services and other goods | 61 | €68,924 | €111,484 | +€42,560 | +61.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €257,695 | €256,781 | -€914 | -0.4% |
| Other operating charges | 640/8 | €106,720 | €117,923 | +€11,203 | +10.5% |
| Operating profit (loss) | 9901 | €648,497 | €639,077 | -€9,420 | -1.5% |
| Financial income | 75/76B | €8,552 | €16,100 | +€7,548 | +88.3% |
| Recurring financial income | 75 | €8,552 | €16,100 | +€7,548 | +88.3% |
| Income from current assets | 751 | €8,552 | €16,094 | +€7,542 | +88.2% |
| Other financial income | 752/9 | - | €6 | +€6 | |
| Financial charges | 65/66B | €114,091 | €91,283 | -€22,807 | -20.0% |
| Recurring financial charges | 65 | €114,091 | €91,283 | -€22,807 | -20.0% |
| Debt charges | 650 | €113,726 | €90,981 | -€22,745 | -20.0% |
| Other financial charges | 652/9 | €365 | €303 | -€62 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €542,958 | €563,893 | +€20,935 | +3.9% |
| Transfer from deferred taxes | 780 | €19,574 | €19,574 | = | 0.0% |
| Income taxes | 67/77 | €158,990 | €200,929 | +€41,939 | +26.4% |
| Taxes | 670/3 | €158,990 | €329,579 | +€170,589 | +107% |
| Tax adjustments and reversals of tax provisions | 77 | - | €128,650 | +€128,650 | |
| Profit (loss) for the period | 9904 | €403,542 | €382,539 | -€21,003 | -5.2% |
| Transfer from tax-exempt reserves | 789 | €58,723 | €58,723 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €122,090 | €0 | -€122,090 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €340,175 | €441,262 | +€101,087 | +29.7% |
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 14 October 2026 via checked.be.