WU-CHOW 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
WU-CHOW IMMO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€149,017
2024 · -€48,912-€100,105
Equity
-€21,172
2024 · €127,845-€149,017
Cash
€25,261
2024 · €13,429+€11,832
Balance sheet total
€5.0m
2024 · €3.0m+€1.9m
Largest movements
Assets
- Tangible fixed assets +€2.0m
up €2.0m (+68.5%), from €2.9m to €4.9m
of which Land and buildings: +€2.0m
- Deferred charges and accrued income -€74,371
down €74,371 (-94.8%), from €78,461 to €4,090
Equity and liabilities
- Debts after one year +€1.4m
up €1.4m (+60.0%), from €2.3m to €3.6m
- Other debts +€592,191
up €592,191 (+128%), from €463,644 to €1.1m
- Profit (loss) carried forward -€149,017
down €149,017, from €20,105 to -€128,912
- Current portion of long-term debt +€89,725
up €89,725 (+59.2%), from €151,672 to €241,397
Income statement
- Gross operating margin +€81,775
up €81,775 (+21.3%), from €384,555 to €466,330
- Financial charges +€75,864
up €75,864 (+120%), from €63,048 to €138,912
- Depreciation +€66,855
up €66,855 (+68.0%), from €98,300 to €165,155
- Other operating charges +€36,475
up €36,475 (+13.3%), from €274,773 to €311,248
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
-€48,912
Gross operating margin
+€81,775
Staff costs
-€3,801
Depreciation
-€66,855
Write-downs
+€33
Other operating charges
-€36,475
Financial income
+€60
Financial charges
-€75,864
Taxes
+€1,022
Result 2025
-€149,017
raises the resultlowers the result
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
+€702,890
Investment
-€2.1m
Financing
+€1.4m
Cash 2024
€13,429
From operations (derived)
+€702,890
Net result for the year
-€149,017
Depreciation
+€165,155
Receivables within one year
-€42,694
Deferred charges and accrued income
+€74,371
Trade debts
+€16,951
Tax, wage and social debts
+€6,033
Other debts
+€592,191
Accrued charges and deferred income
+€39,900
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€2.1m
Financing
+€1.4m
Debts after one year
+€1.4m
Current portion of long-term debt
+€89,725
Cash 2025
€25,261
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,012,231 | €4,958,936 | +€1.9m | +64.6% |
| Fixed assets | 21/28 | €2,914,463 | €4,881,013 | +€2.0m | +67.5% |
| Intangible fixed assets | 21 | €28,455 | €19,455 | -€9,000 | -31.6% |
| Tangible fixed assets | 22/27 | €2,885,560 | €4,861,110 | +€2.0m | +68.5% |
| Land and buildings | 22 | €2,871,467 | €4,846,524 | +€2.0m | +68.8% |
| Plant, machinery and equipment | 23 | €13,863 | €5,772 | -€8,091 | -58.4% |
| Furniture and vehicles | 24 | €230 | €8,814 | +€8,584 | +3,732% |
| Financial fixed assets | 28 | €448 | €448 | = | 0.0% |
| Current assets | 29/58 | €97,768 | €77,923 | -€19,845 | -20.3% |
| Amounts receivable within one year | 40/41 | €5,878 | €48,572 | +€42,694 | +726% |
| Trade receivables | 40 | €5,878 | €15,837 | +€9,959 | +169% |
| Other amounts receivable | 41 | - | €32,735 | +€32,735 | |
| Cash at bank and in hand | 54/58 | €13,429 | €25,261 | +€11,832 | +88.1% |
| Deferred charges and accrued income | 490/1 | €78,461 | €4,090 | -€74,371 | -94.8% |
| Total equity and liabilities | 10/49 | €3,012,231 | €4,958,936 | +€1.9m | +64.6% |
| Equity | 10/15 | €127,845 | -€21,172 | -€149,017 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €89,140 | €89,140 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €87,280 | €87,280 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,105 | -€128,912 | -€149,017 | |
| Amounts payable | 17/49 | €2,884,386 | €4,980,108 | +€2.1m | +72.7% |
| Amounts payable after more than one year | 17 | €2,251,501 | €3,602,423 | +€1.4m | +60.0% |
| Financial debts | 170/4 | €2,251,501 | €3,602,423 | +€1.4m | +60.0% |
| Amounts payable within one year | 42/48 | €632,785 | €1,337,685 | +€704,900 | +111% |
| Current portion of amounts payable after more than one year | 42 | €151,672 | €241,397 | +€89,725 | +59.2% |
| Trade debts | 44 | €16,423 | €33,374 | +€16,951 | +103% |
| Suppliers | 440/4 | €16,423 | €33,374 | +€16,951 | +103% |
| Taxes, remuneration and social security | 45 | €1,046 | €7,079 | +€6,033 | +577% |
| Taxes | 450/3 | €1,046 | €7,079 | +€6,033 | +577% |
| Other amounts payable | 47/48 | €463,644 | €1,055,835 | +€592,191 | +128% |
| Accrued charges and deferred income | 492/3 | €100 | €40,000 | +€39,900 | +39,900% |
| Remuneration, social security and pensions | 62 | -€3,801 | - | +€3,801 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,300 | €165,155 | +€66,855 | +68.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€33 | -€33 | |
| Other operating charges | 640/8 | €274,773 | €311,248 | +€36,475 | +13.3% |
| Gross operating margin | 9900 | €384,555 | €466,330 | +€81,775 | +21.3% |
| Operating profit (loss) | 9901 | €15,283 | -€10,040 | -€25,323 | |
| Financial income | 75/76B | €40 | €100 | +€60 | +150% |
| Recurring financial income | 75 | €40 | €100 | +€60 | +150% |
| Financial charges | 65/66B | €63,048 | €138,912 | +€75,864 | +120% |
| Recurring financial charges | 65 | €63,048 | €138,912 | +€75,864 | +120% |
| Profit (loss) for the period before taxes | 9903 | -€47,725 | -€148,852 | -€101,127 | -212% |
| Income taxes | 67/77 | €1,187 | €165 | -€1,022 | -86.1% |
| Profit (loss) for the period | 9904 | -€48,912 | -€149,017 | -€100,105 | -205% |
| Profit (loss) for the period to be appropriated | 9905 | -€48,912 | -€149,017 | -€100,105 | -205% |
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 31 October 2026 via checked.be.