IMMO WATHAM: 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 WATHAM
Largest movements
- Tangible fixed assets -€49,630
down €49,630 (-3.6%), from €1.4m to €1.3m
of which Land and buildings: -€48,783
- Cash +€17,138
up €17,138 (+87.9%), from €19,507 to €36,645
mainly Depreciation (+€49,630) and Net result for the year (+€43,358)
- Debts after one year -€70,773
down €70,773 (-6.7%), from €1.1m to €986,005
- Profit (loss) carried forward +€43,358
up €43,358 (+75.7%), from €57,266 to €100,624
- Gross operating margin +€25,250
up €25,250 (+26.3%), from €95,971 to €121,221
- Taxes +€10,071
new in 2025: €10,071
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 | €1,420,896 | €1,398,368 | -€22,528 | -1.6% |
| Fixed assets | 21/28 | €1,392,587 | €1,342,957 | -€49,630 | -3.6% |
| Tangible fixed assets | 22/27 | €1,392,587 | €1,342,957 | -€49,630 | -3.6% |
| Land and buildings | 22 | €1,385,320 | €1,336,537 | -€48,783 | -3.5% |
| Furniture and vehicles | 24 | €7,267 | €6,420 | -€847 | -11.7% |
| Current assets | 29/58 | €28,309 | €55,411 | +€27,102 | +95.7% |
| Amounts receivable within one year | 40/41 | €7,474 | €8,428 | +€955 | +12.8% |
| Other amounts receivable | 41 | €7,474 | €8,428 | +€955 | +12.8% |
| Cash at bank and in hand | 54/58 | €19,507 | €36,645 | +€17,138 | +87.9% |
| Deferred charges and accrued income | 490/1 | €1,328 | €10,337 | +€9,010 | +678.6% |
| Total equity and liabilities | 10/49 | €1,420,896 | €1,398,368 | -€22,528 | -1.6% |
| Equity | 10/15 | €117,266 | €160,624 | +€43,358 | +37.0% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,266 | €100,624 | +€43,358 | +75.7% |
| Amounts payable | 17/49 | €1,303,630 | €1,237,744 | -€65,886 | -5.1% |
| Amounts payable after more than one year | 17 | €1,056,778 | €986,005 | -€70,773 | -6.7% |
| Financial debts | 170/4 | €1,056,778 | €986,005 | -€70,773 | -6.7% |
| Amounts payable within one year | 42/48 | €246,576 | €251,490 | +€4,914 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €73,010 | €73,696 | +€686 | +0.9% |
| Trade debts | 44 | €3,566 | €1,025 | -€2,541 | -71.3% |
| Suppliers | 440/4 | €3,566 | €1,025 | -€2,541 | -71.3% |
| Taxes, remuneration and social security | 45 | - | €6,571 | +€6,571 | |
| Taxes | 450/3 | - | €6,571 | +€6,571 | |
| Other amounts payable | 47/48 | €170,000 | €170,197 | +€197 | +0.1% |
| Accrued charges and deferred income | 492/3 | €277 | €250 | -€27 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,630 | €49,630 | = | 0.0% |
| Other operating charges | 640/8 | €11,318 | €11,368 | +€50 | +0.4% |
| Gross operating margin | 9900 | €95,971 | €121,221 | +€25,250 | +26.3% |
| Operating profit (loss) | 9901 | €35,023 | €60,222 | +€25,200 | +72.0% |
| Financial charges | 65/66B | €7,541 | €6,794 | -€748 | -9.9% |
| Recurring financial charges | 65 | €7,541 | €6,794 | -€748 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €27,481 | €53,429 | +€25,948 | +94.4% |
| Income taxes | 67/77 | - | €10,071 | +€10,071 | |
| Profit (loss) for the period | 9904 | €27,481 | €43,358 | +€15,877 | +57.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,481 | €43,358 | +€15,877 | +57.8% |
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 4 October 2026 via checked.be.