IMMO WESTEL: 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 WESTEL
Largest movements
- Tangible fixed assets -€183,827
down €183,827 (-5.1%), from €3.6m to €3.4m
- Other debts +€208,918
up €208,918 (+11.9%), from €1.8m to €2.0m
- Debts after one year -€187,101
down €187,101 (-9.3%), from €2.0m to €1.8m
- Profit (loss) carried forward -€124,455
down €124,455 (-28.3%), from -€439,730 to -€564,185
- Gross operating margin +€37,113
up €37,113 (+31.0%), from €119,544 to €156,657
- Depreciation +€13,314
up €13,314 (+7.5%), from €176,928 to €190,242
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 | €3,594,248 | €3,460,547 | -€133,702 | -3.7% |
| Fixed assets | 21/28 | €3,569,920 | €3,386,093 | -€183,827 | -5.1% |
| Tangible fixed assets | 22/27 | €3,569,920 | €3,386,093 | -€183,827 | -5.1% |
| Land and buildings | 22 | €3,569,920 | €3,386,093 | -€183,827 | -5.1% |
| Current assets | 29/58 | €24,328 | €74,453 | +€50,125 | +206% |
| Amounts receivable within one year | 40/41 | - | €32,224 | +€32,224 | |
| Trade receivables | 40 | - | €31,183 | +€31,183 | |
| Other amounts receivable | 41 | - | €1,041 | +€1,041 | |
| Cash at bank and in hand | 54/58 | €19,876 | €37,714 | +€17,838 | +89.7% |
| Deferred charges and accrued income | 490/1 | €4,452 | €4,515 | +€63 | +1.4% |
| Total equity and liabilities | 10/49 | €3,594,248 | €3,460,547 | -€133,702 | -3.7% |
| Equity | 10/15 | -€438,730 | -€563,185 | -€124,455 | -28.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€439,730 | -€564,185 | -€124,455 | -28.3% |
| Amounts payable | 17/49 | €4,032,978 | €4,023,732 | -€9,246 | -0.2% |
| Amounts payable after more than one year | 17 | €2,001,538 | €1,814,437 | -€187,101 | -9.3% |
| Financial debts | 170/4 | €2,001,538 | €1,814,437 | -€187,101 | -9.3% |
| Amounts payable within one year | 42/48 | €1,969,812 | €2,147,101 | +€177,289 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €185,055 | €187,101 | +€2,046 | +1.1% |
| Trade debts | 44 | €33,675 | - | -€33,675 | |
| Suppliers | 440/4 | €33,675 | - | -€33,675 | |
| Other amounts payable | 47/48 | €1,751,082 | €1,960,000 | +€208,918 | +11.9% |
| Accrued charges and deferred income | 492/3 | €61,628 | €62,194 | +€566 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176,928 | €190,242 | +€13,314 | +7.5% |
| Other operating charges | 640/8 | €22,086 | €22,771 | +€685 | +3.1% |
| Gross operating margin | 9900 | €119,544 | €156,657 | +€37,113 | +31.0% |
| Operating profit (loss) | 9901 | -€79,470 | -€56,357 | +€23,114 | +29.1% |
| Financial charges | 65/66B | €69,542 | €68,099 | -€1,443 | -2.1% |
| Recurring financial charges | 65 | €69,542 | €68,099 | -€1,443 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | -€149,012 | -€124,455 | +€24,556 | +16.5% |
| Profit (loss) for the period | 9904 | -€149,012 | -€124,455 | +€24,556 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€149,012 | -€124,455 | +€24,556 | +16.5% |
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 20 October 2026 via checked.be.