IMMOWEB: 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
IMMOWEB
NACE 73.120, Media representation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€20.1m
2024 · €20.1m+€31,460
Equity
€54.8m
2024 · €34.7m+€20.1m
Cash
€485,536
2024 · €570,265-€84,728
Balance sheet total
€66.0m
2024 · €43.2m+€22.7m
Largest movements
Assets
- Receivables within one year +€28.4m
up €28.4m (+121%), from €23.5m to €51.9m
of which Other amounts receivable: +€29.2m
- Intangible fixed assets -€4.3m
down €4.3m (-50.1%), from €8.6m to €4.3m
- Financial fixed assets -€955,451
down €955,451 (-11.3%), from €8.4m to €7.5m
of which Companies linked by participating interests: -€955,451
Equity and liabilities
- Profit (loss) carried forward +€20.1m
up €20.1m (+80.4%), from €25.1m to €45.2m
- Trade debts +€1.4m
up €1.4m (+63.6%), from €2.1m to €3.5m
Income statement
- Turnover +€5.7m
up €5.7m (+10.3%), from €55.5m to €61.3m
- Financial income -€2.8m
down €2.8m (-79.5%), from €3.5m to €727,421
- Services and other goods +€1.5m
up €1.5m (+7.5%), from €19.5m to €21.0m
- Other operating income -€902,596
down €902,596 (-12.9%), from €7.0m to €6.1m
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
€20.1m
Turnover
+€5.7m
Other operating income
-€902,596
Services and other goods
-€1.5m
Staff costs
+€256,337
Depreciation
+€356,002
Write-downs
+€299
Provisions
-€140,608
Other operating charges
-€25,946
Other operating items
-€462,348
Financial income
-€2.8m
Financial charges
-€322,948
Taxes
-€193,797
Result 2025
€20.1m
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
-€140,564
Investment
-€285,580
Financing
+€341,416
Cash 2024
€570,265
From operations (derived)
-€140,564
Net result for the year
+€20.1m
Depreciation
+€5.7m
Receivables within one year
-€28.4m
Deferred charges and accrued income
+€138,449
Smaller working-capital items
+€10,684
Trade debts
+€1.4m
Tax, wage and social debts
+€510,692
Other debts
+€385,417
Investment (derived)
-€285,580
Investment in fixed assets (net)
-€285,580
Financing
+€341,416
Debts after one year
+€341,416
Cash 2025
€485,536
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,240,586 | €65,988,310 | +€22.7m | +52.6% |
| Fixed assets | 21/28 | €18,912,989 | €13,490,290 | -€5.4m | -28.7% |
| Intangible fixed assets | 21 | €8,642,700 | €4,313,801 | -€4.3m | -50.1% |
| Tangible fixed assets | 22/27 | €1,840,263 | €1,701,914 | -€138,349 | -7.5% |
| Furniture and vehicles | 24 | €1,298,518 | €1,099,933 | -€198,585 | -15.3% |
| Other tangible fixed assets | 26 | €526,578 | €444,877 | -€81,701 | -15.5% |
| Assets under construction and advance payments | 27 | €15,167 | €157,104 | +€141,937 | +936% |
| Financial fixed assets | 28 | €8,430,026 | €7,474,575 | -€955,451 | -11.3% |
| Affiliated companies | 280/1 | €6,748,538 | €6,748,538 | = | 0.0% |
| Participating interests | 280 | €6,748,538 | €6,748,538 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €1,681,081 | €725,630 | -€955,451 | -56.8% |
| Participating interests | 282 | €1,161,081 | €205,630 | -€955,451 | -82.3% |
| Amounts receivable | 283 | €520,000 | €520,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €407 | €407 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €407 | €407 | = | 0.0% |
| Current assets | 29/58 | €24,327,598 | €52,498,020 | +€28.2m | +116% |
| Amounts receivable within one year | 40/41 | €23,494,108 | €51,887,708 | +€28.4m | +121% |
| Trade receivables | 40 | €9,198,326 | €8,385,617 | -€812,709 | -8.8% |
| Other amounts receivable | 41 | €14,295,783 | €43,502,091 | +€29.2m | +204% |
| Cash at bank and in hand | 54/58 | €570,265 | €485,536 | -€84,728 | -14.9% |
| Deferred charges and accrued income | 490/1 | €263,225 | €124,776 | -€138,449 | -52.6% |
| Total equity and liabilities | 10/49 | €43,240,586 | €65,988,310 | +€22.7m | +52.6% |
| Equity | 10/15 | €34,656,421 | €54,801,841 | +€20.1m | +58.1% |
| Contributions | 10/11 | €240,000 | €240,000 | = | 0.0% |
| Capital | 10 | €240,000 | €240,000 | = | 0.0% |
| Issued capital | 100 | €240,000 | €240,000 | = | 0.0% |
| Reserves | 13 | €9,359,900 | €9,359,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,000 | €24,000 | = | 0.0% |
| Legal reserve | 130 | €24,000 | €24,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,997,520 | - | -€3.0m | |
| Distributable reserves | 133 | €6,338,380 | €9,335,900 | +€3.0m | +47.3% |
| Profit (loss) carried forward | 14 | €25,056,521 | €45,201,941 | +€20.1m | +80.4% |
| Provisions and deferred taxes | 16 | €32,048 | €39,636 | +€7,588 | +23.7% |
| Provisions for liabilities and charges | 160/5 | €32,048 | €39,636 | +€7,588 | +23.7% |
| Pensions and similar obligations | 160 | €32,048 | €39,636 | +€7,588 | +23.7% |
| Amounts payable | 17/49 | €8,552,117 | €11,146,833 | +€2.6m | +30.3% |
| Amounts payable after more than one year | 17 | €472,271 | €813,687 | +€341,416 | +72.3% |
| Other amounts payable | 178/9 | €472,271 | €813,687 | +€341,416 | +72.3% |
| Amounts payable within one year | 42/48 | €6,989,900 | €9,240,104 | +€2.3m | +32.2% |
| Trade debts | 44 | €2,128,558 | €3,482,653 | +€1.4m | +63.6% |
| Suppliers | 440/4 | €2,128,558 | €3,482,653 | +€1.4m | +63.6% |
| Taxes, remuneration and social security | 45 | €4,729,568 | €5,240,260 | +€510,692 | +10.8% |
| Taxes | 450/3 | €1,854,487 | €1,703,663 | -€150,824 | -8.1% |
| Remuneration and social security | 454/9 | €2,875,081 | €3,536,597 | +€661,516 | +23.0% |
| Other amounts payable | 47/48 | €131,774 | €517,191 | +€385,417 | +292% |
| Accrued charges and deferred income | 492/3 | €1,089,946 | €1,093,042 | +€3,096 | +0.3% |
| Operating income | 70/76A | €64,048,542 | €68,431,617 | +€4.4m | +6.8% |
| Turnover | 70 | €55,541,210 | €61,285,605 | +€5.7m | +10.3% |
| Own construction capitalised | 72 | €1,500,064 | €1,041,340 | -€458,724 | -30.6% |
| Other operating income | 74 | €7,007,268 | €6,104,672 | -€902,596 | -12.9% |
| Operating charges | 60/66A | €39,663,005 | €40,684,302 | +€1.0m | +2.6% |
| Services and other goods | 61 | €19,539,814 | €21,003,571 | +€1.5m | +7.5% |
| Remuneration, social security and pensions | 62 | €13,710,281 | €13,453,944 | -€256,337 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,064,280 | €5,708,279 | -€356,002 | -5.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€152,462 | -€152,760 | -€299 | -0.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€133,020 | €7,588 | +€140,608 | |
| Other operating charges | 640/8 | €571,817 | €597,764 | +€25,946 | +4.5% |
| Non-recurring operating charges | 66A | €62,293 | €65,918 | +€3,625 | +5.8% |
| Operating profit (loss) | 9901 | €24,385,538 | €27,747,315 | +€3.4m | +13.8% |
| Financial income | 75/76B | €3,540,993 | €727,421 | -€2.8m | -79.5% |
| Recurring financial income | 75 | €3,540,993 | €727,421 | -€2.8m | -79.5% |
| Income from financial fixed assets | 750 | €32,918 | €29,435 | -€3,482 | -10.6% |
| Income from current assets | 751 | €3,482,421 | €667,299 | -€2.8m | -80.8% |
| Other financial income | 752/9 | €25,654 | €30,687 | +€5,032 | +19.6% |
| Financial charges | 65/66B | €756,573 | €1,079,521 | +€322,948 | +42.7% |
| Recurring financial charges | 65 | €118,009 | €124,070 | +€6,062 | +5.1% |
| Debt charges | 650 | €0 | €83 | +€83 | |
| Other financial charges | 652/9 | €118,009 | €123,988 | +€5,979 | +5.1% |
| Non-recurring financial charges | 66B | €638,564 | €955,451 | +€316,886 | +49.6% |
| Profit (loss) for the period before taxes | 9903 | €27,169,957 | €27,395,215 | +€225,258 | +0.8% |
| Income taxes | 67/77 | €7,055,998 | €7,249,795 | +€193,797 | +2.7% |
| Taxes | 670/3 | €7,055,998 | €7,249,795 | +€193,797 | +2.7% |
| Profit (loss) for the period | 9904 | €20,113,960 | €20,145,420 | +€31,460 | +0.2% |
| Transfer from tax-exempt reserves | 789 | €3,999,500 | €2,997,520 | -€1.0m | -25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,113,460 | €23,142,940 | -€970,520 | -4.0% |
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 15 October 2026 via checked.be.