Immo Wouters: 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 Wouters
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€106,924
2024 · €227,469-€120,545
Equity
€2.4m
2024 · €2.4m-€252
Cash
€686,970
2024 · €545,839+€141,131
Balance sheet total
€3.2m
2024 · €3.2m-€9,656
Largest movements
Assets
- Tangible fixed assets -€145,773
down €145,773 (-5.5%), from €2.7m to €2.5m
of which Land and buildings: -€133,814
- Cash +€141,131
up €141,131 (+25.9%), from €545,839 to €686,970
mainly Depreciation (+€157,822) and Net result for the year (+€106,924)
Equity and liabilities
- Other debts +€89,244
up €89,244 (+32.4%), from €275,412 to €364,656
- Debts after one year -€82,346
down €82,346 (-36.9%), from €223,038 to €140,692
Income statement
- Gross operating margin -€139,864
down €139,864 (-25.5%), from €547,814 to €407,951
- Taxes +€31,059
up €31,059 (+62.6%), from €49,582 to €80,641
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
€227,469
Gross operating margin
-€139,864
Depreciation
-€5,467
Write-downs
-€3,118
Other operating charges
+€3,204
Financial income
+€1,654
Financial charges
+€5,052
Taxes
-€31,059
Deferred taxes and other
+€49,052
Result 2025
€106,924
raises the resultlowers the resultnot broken down further in the accounts
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
+€340,905
Investment
-€12,050
Financing
-€187,724
Cash 2024
€545,839
From operations (derived)
+€340,905
Net result for the year
+€106,924
Depreciation
+€157,822
Receivables within one year
+€6,194
Deferred charges and accrued income
-€1,179
Provisions
-€12,863
Trade debts
-€13,489
Tax, wage and social debts
+€11,700
Other debts
+€89,244
Accrued charges and deferred income
-€3,448
Investment (derived)
-€12,050
Investment in fixed assets (net)
-€12,050
Financing
-€187,724
Debts after one year
-€82,346
Current portion of long-term debt
+€1,798
Contributions, distributions and other
-€107,175
Cash 2025
€686,970
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,210,008 | €3,200,352 | -€9,656 | -0.3% |
| Fixed assets | 21/28 | €2,651,652 | €2,505,880 | -€145,773 | -5.5% |
| Tangible fixed assets | 22/27 | €2,651,432 | €2,505,659 | -€145,773 | -5.5% |
| Land and buildings | 22 | €2,334,998 | €2,201,184 | -€133,814 | -5.7% |
| Plant, machinery and equipment | 23 | €3,031 | €1,480 | -€1,552 | -51.2% |
| Furniture and vehicles | 24 | €29,076 | €18,669 | -€10,407 | -35.8% |
| Other tangible fixed assets | 26 | €284,326 | €284,326 | = | 0.0% |
| Financial fixed assets | 28 | €221 | €221 | = | 0.0% |
| Current assets | 29/58 | €558,355 | €694,472 | +€136,117 | +24.4% |
| Amounts receivable within one year | 40/41 | €7,572 | €1,378 | -€6,194 | -81.8% |
| Trade receivables | 40 | €1,238 | €1,378 | +€141 | +11.4% |
| Other amounts receivable | 41 | €6,334 | €0 | -€6,334 | -100% |
| Cash at bank and in hand | 54/58 | €545,839 | €686,970 | +€141,131 | +25.9% |
| Deferred charges and accrued income | 490/1 | €4,945 | €6,124 | +€1,179 | +23.9% |
| Total equity and liabilities | 10/49 | €3,210,008 | €3,200,352 | -€9,656 | -0.3% |
| Equity | 10/15 | €2,449,605 | €2,449,354 | -€252 | 0.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €3,195 | €3,195 | = | 0.0% |
| Reserves | 13 | €2,384,410 | €2,384,158 | -€252 | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €306,232 | €267,645 | -€38,588 | -12.6% |
| Distributable reserves | 133 | €2,071,978 | €2,110,314 | +€38,336 | +1.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €102,078 | €89,215 | -€12,863 | -12.6% |
| Deferred taxes | 168 | €102,078 | €89,215 | -€12,863 | -12.6% |
| Amounts payable | 17/49 | €658,325 | €661,783 | +€3,458 | +0.5% |
| Amounts payable after more than one year | 17 | €223,038 | €140,692 | -€82,346 | -36.9% |
| Financial debts | 170/4 | €223,038 | €140,692 | -€82,346 | -36.9% |
| Amounts payable within one year | 42/48 | €413,172 | €502,425 | +€89,252 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €80,549 | €82,346 | +€1,798 | +2.2% |
| Trade debts | 44 | €29,237 | €15,748 | -€13,489 | -46.1% |
| Suppliers | 440/4 | €29,237 | €15,748 | -€13,489 | -46.1% |
| Taxes, remuneration and social security | 45 | €27,975 | €39,675 | +€11,700 | +41.8% |
| Taxes | 450/3 | €27,975 | €39,675 | +€11,700 | +41.8% |
| Other amounts payable | 47/48 | €275,412 | €364,656 | +€89,244 | +32.4% |
| Accrued charges and deferred income | 492/3 | €22,114 | €18,666 | -€3,448 | -15.6% |
| Non-recurring operating income | 76A | €170,017 | €0 | -€170,017 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152,356 | €157,822 | +€5,467 | +3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,118 | +€3,118 | |
| Other operating charges | 640/8 | €53,710 | €50,506 | -€3,204 | -6.0% |
| Gross operating margin | 9900 | €547,814 | €407,951 | -€139,864 | -25.5% |
| Operating profit (loss) | 9901 | €341,748 | €196,504 | -€145,244 | -42.5% |
| Financial income | 75/76B | €1,203 | €2,857 | +€1,654 | +137% |
| Recurring financial income | 75 | €1,203 | €2,857 | +€1,654 | +137% |
| Financial charges | 65/66B | €29,711 | €24,658 | -€5,052 | -17.0% |
| Recurring financial charges | 65 | €29,711 | €24,658 | -€5,052 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €313,241 | €174,702 | -€138,539 | -44.2% |
| Transfer from deferred taxes | 780 | €6,314 | €12,863 | +€6,548 | +104% |
| Transfer to deferred taxes | 680 | €42,504 | €0 | -€42,504 | -100% |
| Income taxes | 67/77 | €49,582 | €80,641 | +€31,059 | +62.6% |
| Profit (loss) for the period | 9904 | €227,469 | €106,924 | -€120,545 | -53.0% |
| Transfer from tax-exempt reserves | 789 | €61,447 | €38,588 | -€22,860 | -37.2% |
| Transfer to tax-exempt reserves | 689 | €170,017 | €0 | -€170,017 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €118,900 | €145,511 | +€26,612 | +22.4% |
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.