IMMOWOOD: 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.
IMMOWOOD
Largest movements
- Tangible fixed assets -€2.9m
down €2.9m (-29.8%), from €9.6m to €6.7m
of which Assets under construction and advance payments: -€2.2m
- Profit (loss) carried forward -€3.2m
down €3.2m (-318%), from -€997,493 to -€4.2m
- Short-term financial debts +€289,935
up €289,935 (+7.4%), from €3.9m to €4.2m
- Debts after one year -€264,481
down €264,481 (-5.9%), from €4.4m to €4.2m
- Other debts +€154,684
up €154,684, from €0 to €154,684
- Gross operating margin -€180,263
down €180,263 (-71.1%), from €253,593 to €73,330
- Depreciation -€41,369
down €41,369 (-14.8%), from €278,689 to €237,320
- Financial charges +€33,316
up €33,316 (+9.9%), from €335,146 to €368,463
of which Financial charges: +€33,316
- Other operating charges -€7,524
down €7,524 (-38.2%), from €19,676 to €12,151
- Write-downs +€7,160
up €7,160, from €0 to €7,160
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 | €9,720,325 | €6,848,742 | -€2.9m | -29.5% |
| Fixed assets | 21/28 | €9,622,402 | €6,763,073 | -€2.9m | -29.7% |
| Tangible fixed assets | 22/27 | €9,606,902 | €6,747,573 | -€2.9m | -29.8% |
| Land and buildings | 22 | €6,574,279 | €6,338,635 | -€235,644 | -3.6% |
| Plant, machinery and equipment | 23 | €376,200 | €0 | -€376,200 | -100% |
| Furniture and vehicles | 24 | €33,205 | €24,903 | -€8,301 | -25.0% |
| Assets under construction and advance payments | 27 | €2,623,219 | €384,035 | -€2.2m | -85.4% |
| Financial fixed assets | 28 | €15,500 | €15,500 | = | 0.0% |
| Current assets | 29/58 | €97,922 | €85,668 | -€12,254 | -12.5% |
| Amounts receivable within one year | 40/41 | €19,893 | €71,205 | +€51,312 | +258% |
| Trade receivables | 40 | €19,893 | €71,205 | +€51,312 | +258% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €69,695 | €4,925 | -€64,770 | -92.9% |
| Deferred charges and accrued income | 490/1 | €8,334 | €9,538 | +€1,204 | +14.4% |
| Total equity and liabilities | 10/49 | €9,720,325 | €6,848,742 | -€2.9m | -29.5% |
| Equity | 10/15 | €852,507 | -€2,323,420 | -€3.2m | |
| Contributions | 10/11 | €1,850,000 | €1,850,000 | = | 0.0% |
| Capital | 10 | €1,850,000 | €1,850,000 | = | 0.0% |
| Issued capital | 100 | €1,850,000 | €1,850,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€997,493 | -€4,173,420 | -€3.2m | -318% |
| Amounts payable | 17/49 | €8,867,818 | €9,172,162 | +€304,344 | +3.4% |
| Amounts payable after more than one year | 17 | €4,446,334 | €4,181,853 | -€264,481 | -5.9% |
| Financial debts | 170/4 | €4,446,334 | €4,181,853 | -€264,481 | -5.9% |
| Amounts payable within one year | 42/48 | €4,191,423 | €4,692,501 | +€501,079 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €256,936 | €264,481 | +€7,545 | +2.9% |
| Financial debts | 43 | €3,900,007 | €4,189,942 | +€289,935 | +7.4% |
| Credit institutions | 430/8 | €3,900,007 | €4,189,942 | +€289,935 | +7.4% |
| Trade debts | 44 | €27,087 | €73,252 | +€46,165 | +170% |
| Suppliers | 440/4 | €27,087 | €73,252 | +€46,165 | +170% |
| Taxes, remuneration and social security | 45 | €7,393 | €10,141 | +€2,749 | +37.2% |
| Taxes | 450/3 | €7,393 | €10,141 | +€2,749 | +37.2% |
| Other amounts payable | 47/48 | €0 | €154,684 | +€154,684 | |
| Accrued charges and deferred income | 492/3 | €230,061 | €297,808 | +€67,747 | +29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €278,689 | €237,320 | -€41,369 | -14.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €7,160 | +€7,160 | |
| Other operating charges | 640/8 | €19,676 | €12,151 | -€7,524 | -38.2% |
| Non-recurring operating charges | 66A | - | €2,624,163 | +€2.6m | |
| Gross operating margin | 9900 | €253,593 | €73,330 | -€180,263 | -71.1% |
| Operating profit (loss) | 9901 | -€44,771 | -€2,807,464 | -€2.8m | -6,171% |
| Financial charges | 65/66B | €335,146 | €368,463 | +€33,316 | +9.9% |
| Recurring financial charges | 65 | €335,146 | €368,463 | +€33,316 | +9.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€379,918 | -€3,175,927 | -€2.8m | -736% |
| Income taxes | 67/77 | -€50 | €0 | +€50 | |
| Profit (loss) for the period | 9904 | -€379,868 | -€3,175,927 | -€2.8m | -736% |
| Profit (loss) for the period to be appropriated | 9905 | -€379,868 | -€3,175,927 | -€2.8m | -736% |
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 16 October 2026 via checked.be.