Building residential and urban renewal projects
WBOX holds a broad real-estate portfolio, but 2025 showed that the balance sheet is advancing faster than profitability and cash generation.
At WBOX, 2025 was not a deleveraging year but a rollover year: financing liabilities rose to about NIS 981.8 million, and covenant compliance still leaves room to operate but not genuine balance-sheet comfort.
At WBOX, the balance sheet is growing faster than revenue because capital keeps getting absorbed into land inventory and early project stages while the revenue release remains narrow and slow.
