IMMO XAVIER SERWY: 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 XAVIER SERWY
Largest movements
- Cash -€93,155
down €93,155 (-75.9%), from €122,803 to €29,648
mainly Contributions, distributions and other (-€200,000) and Net result for the year (-€102,285)
- Tangible fixed assets +€38,225
up €38,225 (+7.1%), from €537,647 to €575,872
of which Land and buildings: +€70,907
- Deferred charges and accrued income -€12,416
down €12,416 (-67.3%), from €18,450 to €6,034
- Receivables within one year -€9,083
down €9,083 (-34.4%), from €26,375 to €17,292
of which Trade receivables: -€9,932
- Reserves -€200,000
down €200,000 (-77.2%), from €258,993 to €58,993
of which Distributable reserves: -€200,000
- Other debts +€170,750
new in 2025: €170,750
- Profit (loss) carried forward -€102,285
down €102,285 (-7,090%), from -€1,443 to -€103,728
- Debts after one year +€23,869
up €23,869 (+8.9%), from €268,162 to €292,031
- Trade debts +€16,354
up €16,354 (+599%), from €2,731 to €19,085
- Gross operating margin -€51,700
down €51,700, from €44,051 to -€7,648
- Financial charges +€9,215
up €9,215 (+70.9%), from €12,989 to €22,204
- Depreciation +€8,734
up €8,734 (+16.4%), from €53,227 to €61,960
- Taxes -€7,975
down €7,975, from €4,276 to -€3,698
- Staff costs -€1,539
no longer reported in 2025 (was €1,539)
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 | €711,489 | €632,059 | -€79,430 | -11.2% |
| Fixed assets | 21/28 | €543,861 | €579,086 | +€35,225 | +6.5% |
| Tangible fixed assets | 22/27 | €537,647 | €575,872 | +€38,225 | +7.1% |
| Land and buildings | 22 | €413,875 | €484,781 | +€70,907 | +17.1% |
| Plant, machinery and equipment | 23 | €111,068 | €79,560 | -€31,508 | -28.4% |
| Furniture and vehicles | 24 | €12,705 | €11,530 | -€1,174 | -9.2% |
| Financial fixed assets | 28 | €6,214 | €3,214 | -€3,000 | -48.3% |
| Current assets | 29/58 | €167,628 | €52,973 | -€114,655 | -68.4% |
| Amounts receivable within one year | 40/41 | €26,375 | €17,292 | -€9,083 | -34.4% |
| Trade receivables | 40 | €17,667 | €7,735 | -€9,932 | -56.2% |
| Other amounts receivable | 41 | €8,708 | €9,557 | +€849 | +9.7% |
| Cash at bank and in hand | 54/58 | €122,803 | €29,648 | -€93,155 | -75.9% |
| Deferred charges and accrued income | 490/1 | €18,450 | €6,034 | -€12,416 | -67.3% |
| Total equity and liabilities | 10/49 | €711,489 | €632,059 | -€79,430 | -11.2% |
| Equity | 10/15 | €400,399 | €98,114 | -€302,285 | -75.5% |
| Contributions | 10/11 | €66,931 | €66,931 | = | 0.0% |
| Capital | 10 | €66,931 | €66,931 | = | 0.0% |
| Issued capital | 100 | €66,931 | €66,931 | = | 0.0% |
| Revaluation surpluses | 12 | €75,918 | €75,918 | = | 0.0% |
| Reserves | 13 | €258,993 | €58,993 | -€200,000 | -77.2% |
| Non-distributable reserves | 130/1 | €6,693 | €6,693 | = | 0.0% |
| Legal reserve | 130 | €6,693 | €6,693 | = | 0.0% |
| Distributable reserves | 133 | €252,300 | €52,300 | -€200,000 | -79.3% |
| Profit (loss) carried forward | 14 | -€1,443 | -€103,728 | -€102,285 | -7,090% |
| Amounts payable | 17/49 | €311,090 | €533,945 | +€222,855 | +71.6% |
| Amounts payable after more than one year | 17 | €268,162 | €292,031 | +€23,869 | +8.9% |
| Financial debts | 170/4 | €268,162 | €292,031 | +€23,869 | +8.9% |
| Amounts payable within one year | 42/48 | €42,928 | €241,914 | +€198,986 | +464% |
| Current portion of amounts payable after more than one year | 42 | €40,184 | €52,079 | +€11,895 | +29.6% |
| Trade debts | 44 | €2,731 | €19,085 | +€16,354 | +599% |
| Suppliers | 440/4 | €2,731 | €19,085 | +€16,354 | +599% |
| Taxes, remuneration and social security | 45 | €13 | - | -€13 | |
| Remuneration and social security | 454/9 | €13 | - | -€13 | |
| Other amounts payable | 47/48 | - | €170,750 | +€170,750 | |
| Remuneration, social security and pensions | 62 | €1,539 | - | -€1,539 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,227 | €61,960 | +€8,734 | +16.4% |
| Other operating charges | 640/8 | €7,007 | €6,689 | -€318 | -4.5% |
| Non-recurring operating charges | 66A | - | €7,504 | +€7,504 | |
| Gross operating margin | 9900 | €44,051 | -€7,648 | -€51,700 | |
| Operating profit (loss) | 9901 | -€17,721 | -€83,801 | -€66,081 | -373% |
| Financial income | 75/76B | €872 | €22 | -€850 | -97.5% |
| Recurring financial income | 75 | €872 | €22 | -€850 | -97.5% |
| Financial charges | 65/66B | €12,989 | €22,204 | +€9,215 | +70.9% |
| Recurring financial charges | 65 | €12,989 | €22,204 | +€9,215 | +70.9% |
| Profit (loss) for the period before taxes | 9903 | -€29,838 | -€105,984 | -€76,145 | -255% |
| Income taxes | 67/77 | €4,276 | -€3,698 | -€7,975 | |
| Profit (loss) for the period | 9904 | -€34,115 | -€102,285 | -€68,170 | -200% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,115 | -€102,285 | -€68,170 | -200% |
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 30 October 2026 via checked.be.