IMMOWALY: 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
IMMOWALY
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€12,381
2024 · €25,958-€13,578
Equity
€5.1m
2024 · €642,268+€4.4m
Cash
€12,393
2024 · €17,788-€5,395
Balance sheet total
€6.0m
2024 · €1.7m+€4.3m
Largest movements
Assets
- Tangible fixed assets +€4.3m
up €4.3m (+262.5%), from €1.6m to €6.0m
of which Land and buildings: +€4.4m
Equity and liabilities
- Revaluation surpluses +€4.4m
new in 2025: €4.4m
- Profit (loss) carried forward +€329,082
new in 2025: €329,082
- Reserves -€316,702
down €316,702 (-95.9%), from €330,294 to €13,593
of which Distributable reserves: -€316,702
- Current portion of long-term debt -€107,714
down €107,714 (-57.2%), from €188,343 to €80,629
Income statement
- Gross operating margin -€43,354
down €43,354 (-19.3%), from €225,174 to €181,820
- Staff costs -€25,723
down €25,723 (-80.7%), from €31,869 to €6,146
- Financial charges -€4,506
down €4,506 (-39.3%), from €11,470 to €6,964
- Taxes +€2,599
up €2,599 (+15.7%), from €16,553 to €19,152
- Other operating charges -€2,409
down €2,409 (-7.4%), from €32,711 to €30,303
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
€25,958
Gross operating margin
-€43,354
Staff costs
+€25,723
Depreciation
-€261
Other operating charges
+€2,409
Financial income
-€0
Financial charges
+€4,506
Taxes
-€2,599
Result 2025
€12,381
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.
From operations
+€109,557
Investment
-€4.4m
Financing
+€4.3m
Cash 2024
€17,788
From operations (derived)
+€109,557
Net result for the year
+€12,381
Depreciation
+€106,874
Smaller working-capital items
-€24,282
Tax, wage and social debts
+€14,584
Investment (derived)
-€4.4m
Investment in fixed assets (net)
-€4.4m
Financing
+€4.3m
Debts after one year
-€2,732
Current portion of long-term debt
-€107,714
Contributions, distributions and other
+€4.4m
Cash 2025
€12,393
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,665,396 | €5,981,851 | +€4.3m | +259.2% |
| Fixed assets | 21/28 | €1,644,276 | €5,960,860 | +€4.3m | +262.5% |
| Tangible fixed assets | 22/27 | €1,644,276 | €5,960,860 | +€4.3m | +262.5% |
| Land and buildings | 22 | €1,436,669 | €5,802,094 | +€4.4m | +303.9% |
| Furniture and vehicles | 24 | €334 | - | -€334 | |
| Other tangible fixed assets | 26 | €207,273 | €158,766 | -€48,507 | -23.4% |
| Current assets | 29/58 | €21,120 | €20,991 | -€129 | -0.6% |
| Amounts receivable after more than one year | 29 | €2,000 | €2,000 | = | 0.0% |
| Trade receivables | 290 | €2,000 | - | -€2,000 | |
| Other amounts receivable | 291 | - | €2,000 | +€2,000 | |
| Amounts receivable within one year | 40/41 | €14 | €98 | +€84 | +619.0% |
| Trade receivables | 40 | - | €84 | +€84 | |
| Other amounts receivable | 41 | €14 | €14 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €17,788 | €12,393 | -€5,395 | -30.3% |
| Deferred charges and accrued income | 490/1 | €1,319 | €6,501 | +€5,182 | +393.0% |
| Total equity and liabilities | 10/49 | €1,665,396 | €5,981,851 | +€4.3m | +259.2% |
| Equity | 10/15 | €642,268 | €5,073,601 | +€4.4m | +690.0% |
| Contributions | 10/11 | €311,973 | €311,973 | = | 0.0% |
| Capital | 10 | €311,973 | €311,973 | = | 0.0% |
| Issued capital | 100 | €311,973 | €311,973 | = | 0.0% |
| Revaluation surpluses | 12 | - | €4,418,953 | +€4.4m | |
| Reserves | 13 | €330,294 | €13,593 | -€316,702 | -95.9% |
| Non-distributable reserves | 130/1 | €13,593 | €13,593 | = | 0.0% |
| Legal reserve | 130 | €13,593 | €13,593 | = | 0.0% |
| Distributable reserves | 133 | €316,702 | - | -€316,702 | |
| Profit (loss) carried forward | 14 | - | €329,082 | +€329,082 | |
| Amounts payable | 17/49 | €1,023,128 | €908,250 | -€114,878 | -11.2% |
| Amounts payable after more than one year | 17 | €736,139 | €733,407 | -€2,732 | -0.4% |
| Financial debts | 170/4 | €736,139 | €715,507 | -€20,632 | -2.8% |
| Other amounts payable | 178/9 | - | €17,900 | +€17,900 | |
| Amounts payable within one year | 42/48 | €280,989 | €174,842 | -€106,147 | -37.8% |
| Current portion of amounts payable after more than one year | 42 | €188,343 | €80,629 | -€107,714 | -57.2% |
| Trade debts | 44 | €11,796 | €5,776 | -€6,020 | -51.0% |
| Suppliers | 440/4 | €11,796 | €5,776 | -€6,020 | -51.0% |
| Taxes, remuneration and social security | 45 | €26,715 | €41,299 | +€14,584 | +54.6% |
| Taxes | 450/3 | €19,389 | €19,152 | -€237 | -1.2% |
| Remuneration and social security | 454/9 | €7,326 | €22,147 | +€14,821 | +202.3% |
| Other amounts payable | 47/48 | €54,135 | €47,138 | -€6,996 | -12.9% |
| Accrued charges and deferred income | 492/3 | €6,000 | - | -€6,000 | |
| Non-recurring operating income | 76A | €17,131 | - | -€17,131 | |
| Remuneration, social security and pensions | 62 | €31,869 | €6,146 | -€25,723 | -80.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,613 | €106,874 | +€261 | +0.2% |
| Other operating charges | 640/8 | €32,711 | €30,303 | -€2,409 | -7.4% |
| Gross operating margin | 9900 | €225,174 | €181,820 | -€43,354 | -19.3% |
| Operating profit (loss) | 9901 | €53,981 | €38,497 | -€15,484 | -28.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €11,470 | €6,964 | -€4,506 | -39.3% |
| Recurring financial charges | 65 | €11,470 | €6,964 | -€4,506 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | €42,511 | €31,533 | -€10,979 | -25.8% |
| Income taxes | 67/77 | €16,553 | €19,152 | +€2,599 | +15.7% |
| Profit (loss) for the period | 9904 | €25,958 | €12,381 | -€13,578 | -52.3% |
| Profit (loss) for the period to be appropriated | 9905 | €25,958 | €12,381 | -€13,578 | -52.3% |
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 10 October 2026 via checked.be.