W.L. IMMO: 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
W.L. IMMO
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€11,766
2024 · -€53,264+€65,031
Equity
€2.8m
2024 · €2.7m+€11,766
Cash
€211,064
2024 · €198,495+€12,569
Balance sheet total
€16.6m
2024 · €16.9m-€215,794
Largest movements
Assets
- Receivables within one year -€555,466
down €555,466 (-66.2%), from €839,168 to €283,702
of which Trade receivables: -€484,719
- Tangible fixed assets +€330,878
up €330,878 (+2.2%), from €14.9m to €15.3m
of which Land and buildings: +€505,933
Equity and liabilities
- Other debts -€270,301
down €270,301 (-35.2%), from €768,596 to €498,294
- Current portion of long-term debt +€211,453
up €211,453 (+32.4%), from €653,057 to €864,510
Income statement
- Gross operating margin +€1.2m
new in 2025: €1.2m
- Turnover -€859,614
no longer reported in 2025 (was €859,614)
- Other operating income -€443,228
no longer reported in 2025 (was €443,228)
- Services and other goods -€258,231
no longer reported in 2025 (was €258,231)
- Financial charges +€29,292
up €29,292 (+7.3%), from €399,070 to €428,362
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
-€53,264
Turnover
-€859,614
Other operating income
-€443,228
Services and other goods
+€258,231
Staff costs
+€16,145
Depreciation
+€8,408
Other operating charges
-€3,746
Other operating items
+€1.1m
Financial income
+€1,796
Financial charges
-€29,292
Result 2025
€11,766
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
+€922,852
Investment
-€968,013
Financing
+€57,729
Cash 2024
€198,495
From operations (derived)
+€922,852
Net result for the year
+€11,766
Depreciation
+€637,135
Receivables within one year
+€555,466
Deferred charges and accrued income
+€3,775
Trade debts
-€18,651
Tax, wage and social debts
+€86,567
Other debts
-€270,301
Accrued charges and deferred income
-€82,904
Investment (derived)
-€968,013
Investment in fixed assets (net)
-€968,013
Financing
+€57,729
Debts after one year
-€153,724
Current portion of long-term debt
+€211,453
Cash 2025
€211,064
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,859,692 | €16,643,898 | -€215,794 | -1.3% |
| Fixed assets | 21/28 | €14,930,848 | €15,261,726 | +€330,878 | +2.2% |
| Tangible fixed assets | 22/27 | €14,930,848 | €15,261,726 | +€330,878 | +2.2% |
| Land and buildings | 22 | €14,497,327 | €15,003,260 | +€505,933 | +3.5% |
| Plant, machinery and equipment | 23 | €423,982 | €254,076 | -€169,906 | -40.1% |
| Furniture and vehicles | 24 | €9,539 | €4,390 | -€5,149 | -54.0% |
| Current assets | 29/58 | €1,928,844 | €1,382,172 | -€546,672 | -28.3% |
| Stocks and contracts in progress | 3 | €879,949 | €879,949 | = | 0.0% |
| Stocks | 30/36 | €879,949 | €879,949 | = | 0.0% |
| Property held for sale | 35 | €879,949 | - | -€879,949 | |
| Amounts receivable within one year | 40/41 | €839,168 | €283,702 | -€555,466 | -66.2% |
| Trade receivables | 40 | €488,421 | €3,702 | -€484,719 | -99.2% |
| Other amounts receivable | 41 | €350,747 | €280,000 | -€70,747 | -20.2% |
| Cash at bank and in hand | 54/58 | €198,495 | €211,064 | +€12,569 | +6.3% |
| Deferred charges and accrued income | 490/1 | €11,232 | €7,457 | -€3,775 | -33.6% |
| Total equity and liabilities | 10/49 | €16,859,692 | €16,643,898 | -€215,794 | -1.3% |
| Equity | 10/15 | €2,744,083 | €2,755,849 | +€11,766 | +0.4% |
| Contributions | 10/11 | €5,944,100 | €5,944,100 | = | 0.0% |
| Capital | 10 | €5,944,100 | €5,944,100 | = | 0.0% |
| Issued capital | 100 | €5,944,100 | €5,944,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,200,017 | -€3,188,251 | +€11,766 | +0.4% |
| Amounts payable | 17/49 | €14,115,609 | €13,888,049 | -€227,560 | -1.6% |
| Amounts payable after more than one year | 17 | €12,549,038 | €12,395,314 | -€153,724 | -1.2% |
| Financial debts | 170/4 | €12,549,038 | €12,395,314 | -€153,724 | -1.2% |
| Credit institutions | 173 | €5,549,038 | - | -€5.5m | |
| Other loans | 174 | €7,000,000 | - | -€7.0m | |
| Amounts payable within one year | 42/48 | €1,441,785 | €1,450,852 | +€9,068 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €653,057 | €864,510 | +€211,453 | +32.4% |
| Trade debts | 44 | €19,349 | €698 | -€18,651 | -96.4% |
| Suppliers | 440/4 | €19,349 | €698 | -€18,651 | -96.4% |
| Taxes, remuneration and social security | 45 | €783 | €87,350 | +€86,567 | +11,062% |
| Taxes | 450/3 | €589 | €87,038 | +€86,449 | +14,681% |
| Remuneration and social security | 454/9 | €194 | €311 | +€118 | +60.7% |
| Other amounts payable | 47/48 | €768,596 | €498,294 | -€270,301 | -35.2% |
| Accrued charges and deferred income | 492/3 | €124,787 | €41,883 | -€82,904 | -66.4% |
| Operating income | 70/76A | €1,357,296 | - | -€1.4m | |
| Turnover | 70 | €859,614 | - | -€859,614 | |
| Other operating income | 74 | €443,228 | - | -€443,228 | |
| Non-recurring operating income | 76A | €54,455 | €0 | -€54,455 | -100% |
| Operating charges | 60/66A | €1,011,733 | - | -€1.0m | |
| Services and other goods | 61 | €258,231 | - | -€258,231 | |
| Remuneration, social security and pensions | 62 | €20,818 | €4,674 | -€16,145 | -77.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €645,543 | €637,135 | -€8,408 | -1.3% |
| Other operating charges | 640/8 | €87,141 | €90,888 | +€3,746 | +4.3% |
| Gross operating margin | 9900 | - | €1,170,786 | +€1.2m | |
| Operating profit (loss) | 9901 | €345,564 | €438,090 | +€92,526 | +26.8% |
| Financial income | 75/76B | €242 | €2,038 | +€1,796 | +743% |
| Recurring financial income | 75 | €242 | €2,038 | +€1,796 | +743% |
| Income from current assets | 751 | €138 | - | -€138 | |
| Other financial income | 752/9 | €104 | - | -€104 | |
| Financial charges | 65/66B | €399,070 | €428,362 | +€29,292 | +7.3% |
| Recurring financial charges | 65 | €399,070 | €428,362 | +€29,292 | +7.3% |
| Debt charges | 650 | €398,285 | - | -€398,285 | |
| Other financial charges | 652/9 | €785 | - | -€785 | |
| Profit (loss) for the period before taxes | 9903 | -€53,264 | €11,766 | +€65,031 | |
| Profit (loss) for the period | 9904 | -€53,264 | €11,766 | +€65,031 | |
| Profit (loss) for the period to be appropriated | 9905 | -€53,264 | €11,766 | +€65,031 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.