IMMO WERLI: 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 WERLI
Largest movements
- Tangible fixed assets -€48,458
down €48,458 (-4.9%), from €983,371 to €934,913
- Debts after one year -€61,387
down €61,387 (-11.5%), from €532,137 to €470,750
- Gross operating margin +€3,582
up €3,582 (+5.1%), from €70,014 to €73,596
- Financial charges -€913
down €913 (-9.6%), from €9,471 to €8,558
- Other operating charges +€759
up €759 (+13.3%), from €5,711 to €6,470
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 | €984,986 | €940,791 | -€44,195 | -4.5% |
| Fixed assets | 21/28 | €983,371 | €934,913 | -€48,458 | -4.9% |
| Tangible fixed assets | 22/27 | €983,371 | €934,913 | -€48,458 | -4.9% |
| Land and buildings | 22 | €983,371 | €934,913 | -€48,458 | -4.9% |
| Current assets | 29/58 | €1,615 | €5,878 | +€4,263 | +263.9% |
| Cash at bank and in hand | 54/58 | €1,226 | €5,469 | +€4,242 | +346.0% |
| Deferred charges and accrued income | 490/1 | €389 | €409 | +€20 | +5.2% |
| Total equity and liabilities | 10/49 | €984,986 | €940,791 | -€44,195 | -4.5% |
| Equity | 10/15 | €38,572 | €47,426 | +€8,854 | +23.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,972 | €28,826 | +€8,854 | +44.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €18,112 | €26,966 | +€8,854 | +48.9% |
| Amounts payable | 17/49 | €946,414 | €893,365 | -€53,049 | -5.6% |
| Amounts payable after more than one year | 17 | €532,137 | €470,750 | -€61,387 | -11.5% |
| Financial debts | 170/4 | €532,137 | €470,750 | -€61,387 | -11.5% |
| Amounts payable within one year | 42/48 | €411,527 | €418,615 | +€7,089 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €62,163 | €61,387 | -€776 | -1.2% |
| Trade debts | 44 | €1,357 | €1,454 | +€98 | +7.2% |
| Suppliers | 440/4 | €1,357 | €1,454 | +€98 | +7.2% |
| Other amounts payable | 47/48 | €348,007 | €355,774 | +€7,767 | +2.2% |
| Accrued charges and deferred income | 492/3 | €2,750 | €4,000 | +€1,250 | +45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,458 | €48,458 | = | 0.0% |
| Other operating charges | 640/8 | €5,711 | €6,470 | +€759 | +13.3% |
| Gross operating margin | 9900 | €70,014 | €73,596 | +€3,582 | +5.1% |
| Operating profit (loss) | 9901 | €15,845 | €18,669 | +€2,823 | +17.8% |
| Financial charges | 65/66B | €9,471 | €8,558 | -€913 | -9.6% |
| Recurring financial charges | 65 | €9,471 | €8,558 | -€913 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €6,374 | €10,110 | +€3,736 | +58.6% |
| Income taxes | 67/77 | €794 | €1,257 | +€463 | +58.3% |
| Profit (loss) for the period | 9904 | €5,580 | €8,854 | +€3,274 | +58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,580 | €8,854 | +€3,274 | +58.7% |
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 7 October 2026 via checked.be.