IMMO - WENDI: 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 - WENDI
Largest movements
- Current investments +€1.0m
new in 2025: €1.0m
- Tangible fixed assets -€864,610
down €864,610 (-21.2%), from €4.1m to €3.2m
of which Land and buildings: -€818,546
- Cash +€177,960
up €177,960 (+153%), from €116,079 to €294,039
mainly Net result for the year (+€1.3m) and Investment in fixed assets (net) (+€745,769)
- Receivables within one year -€76,063
down €76,063 (-86.7%), from €87,687 to €11,624
of which Other amounts receivable: -€55,000
- Reserves +€1.3m
up €1.3m (+114%), from €1.1m to €2.4m
of which Distributable reserves: +€1.0m
- Debts after one year -€888,824
down €888,824 (-57.9%), from €1.5m to €647,176
of which Financial debts: -€1.2m
- Other debts -€285,590
down €285,590 (-52.0%), from €549,262 to €263,672
- Tax, wage and social debts +€121,446
up €121,446 (+641%), from €18,941 to €140,387
- Provisions +€90,110
up €90,110 (+89.5%), from €100,676 to €190,785
- Gross operating margin +€1.6m
up €1.6m (+336%), from €475,123 to €2.1m
- Taxes +€409,006
up €409,006 (+549%), from €74,509 to €483,514
- Financial charges -€49,389
down €49,389 (-51.1%), from €96,698 to €47,309
- Depreciation -€27,619
down €27,619 (-18.9%), from €146,459 to €118,840
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 | €4,299,829 | €4,535,508 | +€235,678 | +5.5% |
| Fixed assets | 21/28 | €4,083,224 | €3,218,615 | -€864,610 | -21.2% |
| Tangible fixed assets | 22/27 | €4,083,224 | €3,218,615 | -€864,610 | -21.2% |
| Land and buildings | 22 | €3,912,239 | €3,093,693 | -€818,546 | -20.9% |
| Furniture and vehicles | 24 | €170,985 | €124,922 | -€46,063 | -26.9% |
| Current assets | 29/58 | €216,605 | €1,316,893 | +€1.1m | +508% |
| Amounts receivable within one year | 40/41 | €87,687 | €11,624 | -€76,063 | -86.7% |
| Trade receivables | 40 | €32,687 | €11,624 | -€21,063 | -64.4% |
| Other amounts receivable | 41 | €55,000 | - | -€55,000 | |
| Current investments | 50/53 | - | €1,000,000 | +€1.0m | |
| Cash at bank and in hand | 54/58 | €116,079 | €294,039 | +€177,960 | +153% |
| Deferred charges and accrued income | 490/1 | €12,839 | €11,230 | -€1,609 | -12.5% |
| Total equity and liabilities | 10/49 | €4,299,829 | €4,535,508 | +€235,678 | +5.5% |
| Equity | 10/15 | €2,049,842 | €3,276,671 | +€1.2m | +59.8% |
| Contributions | 10/11 | €850,000 | €850,000 | = | 0.0% |
| Revaluation surpluses | 12 | €65,457 | - | -€65,457 | |
| Reserves | 13 | €1,134,385 | €2,426,671 | +€1.3m | +114% |
| Tax-exempt reserves | 132 | €302,027 | €572,356 | +€270,329 | +89.5% |
| Distributable reserves | 133 | €832,358 | €1,854,315 | +€1.0m | +123% |
| Provisions and deferred taxes | 16 | €100,676 | €190,785 | +€90,110 | +89.5% |
| Deferred taxes | 168 | €100,676 | €190,785 | +€90,110 | +89.5% |
| Amounts payable | 17/49 | €2,149,312 | €1,068,051 | -€1.1m | -50.3% |
| Amounts payable after more than one year | 17 | €1,536,000 | €647,176 | -€888,824 | -57.9% |
| Financial debts | 170/4 | €1,536,000 | €336,000 | -€1.2m | -78.1% |
| Other amounts payable | 178/9 | - | €311,176 | +€311,176 | |
| Amounts payable within one year | 42/48 | €596,361 | €405,257 | -€191,104 | -32.0% |
| Current portion of amounts payable after more than one year | 42 | €27,500 | - | -€27,500 | |
| Trade debts | 44 | €658 | €1,197 | +€540 | +82.1% |
| Suppliers | 440/4 | €658 | €1,197 | +€540 | +82.1% |
| Taxes, remuneration and social security | 45 | €18,941 | €140,387 | +€121,446 | +641% |
| Taxes | 450/3 | €18,941 | €140,387 | +€121,446 | +641% |
| Other amounts payable | 47/48 | €549,262 | €263,672 | -€285,590 | -52.0% |
| Accrued charges and deferred income | 492/3 | €16,951 | €15,618 | -€1,333 | -7.9% |
| Non-recurring operating income | 76A | - | €1,686,352 | +€1.7m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146,459 | €118,840 | -€27,619 | -18.9% |
| Other operating charges | 640/8 | €43,790 | €45,229 | +€1,439 | +3.3% |
| Gross operating margin | 9900 | €475,123 | €2,070,148 | +€1.6m | +336% |
| Operating profit (loss) | 9901 | €284,874 | €1,906,079 | +€1.6m | +569% |
| Financial income | 75/76B | €10 | €7,142 | +€7,132 | +71,675% |
| Recurring financial income | 75 | €10 | €7,142 | +€7,132 | +71,675% |
| Financial charges | 65/66B | €96,698 | €47,309 | -€49,389 | -51.1% |
| Recurring financial charges | 65 | €96,698 | €47,309 | -€49,389 | -51.1% |
| Profit (loss) for the period before taxes | 9903 | €188,186 | €1,865,911 | +€1.7m | +892% |
| Transfer from deferred taxes | 780 | €4,862 | €4,862 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €94,972 | +€94,972 | |
| Income taxes | 67/77 | €74,509 | €483,514 | +€409,006 | +549% |
| Profit (loss) for the period | 9904 | €118,539 | €1,292,287 | +€1.2m | +990% |
| Transfer from tax-exempt reserves | 789 | €14,586 | €14,586 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €284,916 | +€284,916 | |
| Profit (loss) for the period to be appropriated | 9905 | €133,126 | €1,021,957 | +€888,832 | +668% |
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 25 October 2026 via checked.be.