IMMO WILLEMS: 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 WILLEMS
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€28,512
2024 · €19,558+€8,953
Equity
€206,338
2024 · €203,598+€2,740
Cash
€94,958
2024 · €95,523-€565
Balance sheet total
€415,091
2024 · €449,080-€33,990
Largest movements
Assets
- Tangible fixed assets -€31,001
down €31,001 (-9.4%), from €329,172 to €298,171
of which Land and buildings: -€29,662
Equity and liabilities
- Debts after one year -€25,638
down €25,638 (-16.7%), from €153,706 to €128,068
of which Financial debts: -€25,638
- Tax, wage and social debts -€10,939
down €10,939 (-33.9%), from €32,235 to €21,296
of which Taxes: -€12,288
Income statement
- Gross operating margin +€18,234
up €18,234 (+9.1%), from €199,455 to €217,690
- Staff costs +€10,081
up €10,081 (+9.2%), from €110,123 to €120,203
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
€19,558
Gross operating margin
+€18,234
Staff costs
-€10,081
Depreciation
-€1,018
Other operating charges
-€202
Financial income
-€160
Financial charges
+€1,805
Taxes
+€374
Result 2025
€28,512
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
+€56,917
Investment
-€5,615
Financing
-€51,867
Cash 2024
€95,523
From operations (derived)
+€56,917
Net result for the year
+€28,512
Depreciation
+€36,666
Receivables within one year
+€1,909
Deferred charges and accrued income
+€465
Trade debts
-€2,617
Tax, wage and social debts
-€10,939
Other debts
+€2,922
Investment (derived)
-€5,615
Investment in fixed assets (net)
-€5,615
Financing
-€51,867
Debts after one year
-€25,638
Current portion of long-term debt
-€445
Short-term financial debts
-€13
Contributions, distributions and other
-€25,771
Cash 2025
€94,958
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €449,080 | €415,091 | -€33,990 | -7.6% |
| Fixed assets | 21/28 | €329,222 | €298,171 | -€31,051 | -9.4% |
| Tangible fixed assets | 22/27 | €329,172 | €298,171 | -€31,001 | -9.4% |
| Land and buildings | 22 | €294,100 | €264,438 | -€29,662 | -10.1% |
| Plant, machinery and equipment | 23 | €33,936 | €32,347 | -€1,589 | -4.7% |
| Furniture and vehicles | 24 | €1,136 | €1,386 | +€250 | +22.0% |
| Financial fixed assets | 28 | €50 | - | -€50 | |
| Current assets | 29/58 | €119,858 | €116,920 | -€2,939 | -2.5% |
| Amounts receivable within one year | 40/41 | €14,951 | €13,042 | -€1,909 | -12.8% |
| Trade receivables | 40 | €12,066 | €8,701 | -€3,365 | -27.9% |
| Other amounts receivable | 41 | €2,885 | €4,341 | +€1,457 | +50.5% |
| Cash at bank and in hand | 54/58 | €95,523 | €94,958 | -€565 | -0.6% |
| Deferred charges and accrued income | 490/1 | €9,384 | €8,919 | -€465 | -5.0% |
| Total equity and liabilities | 10/49 | €449,080 | €415,091 | -€33,990 | -7.6% |
| Equity | 10/15 | €203,598 | €206,338 | +€2,740 | +1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €143,373 | €146,113 | +€2,740 | +1.9% |
| Tax-exempt reserves | 132 | €273 | €273 | = | 0.0% |
| Distributable reserves | 133 | €143,100 | €145,840 | +€2,740 | +1.9% |
| Profit (loss) carried forward | 14 | €41,625 | €41,625 | = | 0.0% |
| Amounts payable | 17/49 | €245,483 | €208,753 | -€36,730 | -15.0% |
| Amounts payable after more than one year | 17 | €153,706 | €128,068 | -€25,638 | -16.7% |
| Financial debts | 170/4 | €152,506 | €126,868 | -€25,638 | -16.8% |
| Other amounts payable | 178/9 | €1,200 | €1,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €91,776 | €80,684 | -€11,092 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €26,083 | €25,638 | -€445 | -1.7% |
| Financial debts | 43 | €6,792 | €6,779 | -€13 | -0.2% |
| Credit institutions | 430/8 | €6,792 | €6,779 | -€13 | -0.2% |
| Trade debts | 44 | €25,741 | €23,124 | -€2,617 | -10.2% |
| Suppliers | 440/4 | €25,741 | €23,124 | -€2,617 | -10.2% |
| Taxes, remuneration and social security | 45 | €32,235 | €21,296 | -€10,939 | -33.9% |
| Taxes | 450/3 | €12,396 | €107 | -€12,288 | -99.1% |
| Remuneration and social security | 454/9 | €19,840 | €21,189 | +€1,349 | +6.8% |
| Other amounts payable | 47/48 | €925 | €3,848 | +€2,922 | +316% |
| Remuneration, social security and pensions | 62 | €110,123 | €120,203 | +€10,081 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,648 | €36,666 | +€1,018 | +2.9% |
| Other operating charges | 640/8 | €4,737 | €4,939 | +€202 | +4.3% |
| Gross operating margin | 9900 | €199,455 | €217,690 | +€18,234 | +9.1% |
| Operating profit (loss) | 9901 | €48,947 | €55,881 | +€6,934 | +14.2% |
| Financial income | 75/76B | €239 | €78 | -€160 | -67.3% |
| Recurring financial income | 75 | €239 | €78 | -€160 | -67.3% |
| Financial charges | 65/66B | €12,320 | €10,515 | -€1,805 | -14.6% |
| Recurring financial charges | 65 | €12,320 | €10,515 | -€1,805 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €36,865 | €45,444 | +€8,579 | +23.3% |
| Income taxes | 67/77 | €17,307 | €16,932 | -€374 | -2.2% |
| Profit (loss) for the period | 9904 | €19,558 | €28,512 | +€8,953 | +45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €19,558 | €28,512 | +€8,953 | +45.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.