IMMOWAVERA: 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.
IMMOWAVERA
Largest movements
- Tangible fixed assets -€21,049
down €21,049 (-4.3%), from €495,101 to €474,052
of which Land and buildings: -€12,845
- Debts after one year -€26,329
down €26,329 (-9.0%), from €292,330 to €266,001
- Reserves +€19,182
up €19,182 (+16.5%), from €116,548 to €135,731
- Tax, wage and social debts -€7,580
no longer reported in 2025 (was €7,580)
- Current portion of long-term debt -€6,496
down €6,496 (-20.3%), from €32,012 to €25,516
- Depreciation -€5,286
down €5,286 (-20.1%), from €26,335 to €21,049
- Taxes +€3,009
up €3,009 (+50.6%), from €5,943 to €8,952
- Gross operating margin +€1,482
up €1,482 (+2.7%), from €54,668 to €56,151
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 | €516,772 | €495,950 | -€20,823 | -4.0% |
| Fixed assets | 21/28 | €495,101 | €474,052 | -€21,049 | -4.3% |
| Tangible fixed assets | 22/27 | €495,101 | €474,052 | -€21,049 | -4.3% |
| Land and buildings | 22 | €444,429 | €431,584 | -€12,845 | -2.9% |
| Plant, machinery and equipment | 23 | €50,671 | €42,468 | -€8,204 | -16.2% |
| Current assets | 29/58 | €21,671 | €21,898 | +€226 | +1.0% |
| Amounts receivable within one year | 40/41 | €5,057 | €6,105 | +€1,048 | +20.7% |
| Other amounts receivable | 41 | €5,057 | €6,105 | +€1,048 | +20.7% |
| Cash at bank and in hand | 54/58 | €16,614 | €15,793 | -€822 | -4.9% |
| Total equity and liabilities | 10/49 | €516,772 | €495,950 | -€20,823 | -4.0% |
| Equity | 10/15 | €136,548 | €155,731 | +€19,182 | +14.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €116,548 | €135,731 | +€19,182 | +16.5% |
| Distributable reserves | 133 | €116,548 | €135,731 | +€19,182 | +16.5% |
| Amounts payable | 17/49 | €380,224 | €340,219 | -€40,005 | -10.5% |
| Amounts payable after more than one year | 17 | €292,330 | €266,001 | -€26,329 | -9.0% |
| Financial debts | 170/4 | €292,330 | €266,001 | -€26,329 | -9.0% |
| Amounts payable within one year | 42/48 | €87,894 | €73,819 | -€14,076 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €32,012 | €25,516 | -€6,496 | -20.3% |
| Taxes, remuneration and social security | 45 | €7,580 | - | -€7,580 | |
| Taxes | 450/3 | €7,580 | - | -€7,580 | |
| Other amounts payable | 47/48 | €48,302 | €48,302 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,335 | €21,049 | -€5,286 | -20.1% |
| Other operating charges | 640/8 | €2,527 | €2,526 | -€1 | 0.0% |
| Gross operating margin | 9900 | €54,668 | €56,151 | +€1,482 | +2.7% |
| Operating profit (loss) | 9901 | €25,807 | €32,576 | +€6,769 | +26.2% |
| Financial charges | 65/66B | €4,906 | €4,442 | -€465 | -9.5% |
| Recurring financial charges | 65 | €4,906 | €4,442 | -€465 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €20,901 | €28,134 | +€7,234 | +34.6% |
| Income taxes | 67/77 | €5,943 | €8,952 | +€3,009 | +50.6% |
| Profit (loss) for the period | 9904 | €14,957 | €19,182 | +€4,225 | +28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,957 | €19,182 | +€4,225 | +28.2% |
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 19 October 2026 via checked.be.