IMMO VBL
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 20-07-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is a profit of €55,437, after a loss of €84,002 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 2024 | 2025 |
|---|---|---|
| Mortgages, amount registered | - | €100,000 |
| Mortgage mandates | €276,000 | €600,000 |
| Carrying value of the mortgaged assets | €658,595 | €853,480 |
Source: notes to the 2024 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €952,065 | €561,943 |
| Depreciation and write-downs of the year | €82,416 | €19,954 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €82,416 | €19,954 | ▼ 75.8% |
| Other operating charges640/8 | €3,483 | €4,449 | ▲ 27.7% |
| Non-recurring operating charges66A | €11,055 | €0 | ▼ 100% |
| Gross operating margin9900 | €12,952 | €79,841 | ▲ 516% |
| Operating profit (loss)9901 | -€84,002 | €55,437 | - |
| Financial income75/76B | €1 | €0 | ▼ 100% |
| Recurring financial income75 | €1 | €0 | ▼ 100% |
| Financial charges65/66B | €30,156 | €27,349 | ▼ 9.3% |
| Recurring financial charges65 | €30,156 | €27,349 | ▼ 9.3% |
| Profit (loss) for the period before taxes9903 | -€114,157 | €28,088 | - |
| Profit (loss) for the period9904 | -€114,157 | €28,088 | - |
| Profit (loss) for the period to be appropriated9905 | -€114,157 | €28,088 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €788,526 | €900,194 | ▲ 14.2% |
| Fixed assets21/28 | €658,595 | €853,480 | ▲ 29.6% |
| Tangible fixed assets22/27 | €658,595 | €853,480 | ▲ 29.6% |
| Land and buildings22 | €311,491 | €853,480 | ▲ 174% |
| Assets under construction and advance payments27 | €347,104 | €0 | ▼ 100% |
| Current assets29/58 | €129,931 | €46,714 | ▼ 64.0% |
| Cash at bank and in hand54/58 | €129,308 | €45,451 | ▼ 64.9% |
| Deferred charges and accrued income490/1 | €623 | €1,264 | ▲ 103% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €788,526 | €900,194 | ▲ 14.2% |
| Equity10/15 | €95,843 | €123,931 | ▲ 29.3% |
| Contributions10/11 | €210,000 | €210,000 | = |
| Profit (loss) carried forward14 | -€114,157 | -€86,069 | ▲ 24.6% |
| Amounts payable17/49 | €692,683 | €776,263 | ▲ 12.1% |
| Amounts payable after more than one year17 | €545,000 | €731,531 | ▲ 34.2% |
| Financial debts170/4 | €545,000 | €731,531 | ▲ 34.2% |
| Amounts payable within one year42/48 | €146,483 | €44,732 | ▼ 69.5% |
| Current portion of amounts payable after more than one year42 | - | €39,944 | - |
| Trade debts44 | €146,483 | €4,788 | ▼ 96.7% |
| Suppliers440/4 | €146,483 | €4,788 | ▼ 96.7% |
| Accrued charges and deferred income492/3 | €1,201 | €0 | ▼ 100% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€114,157 | €28,088 | - |
| + Depreciation and write-downs630 | €82,416 | €19,954 | ▼ 75.8% |
| Operating cash flow (approximation) | -€31,741 | €48,042 | - |
| Investment in fixed assets (approximation) | - | -€214,839 | - |
| Change in cash | - | -€83,858 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 896 companies had the same profile as IMMO VBL has now. Two years later, 98.1% were still going and 1.1% had gone bankrupt.
- Small
- 2 to 5 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IMMO VBL itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 896 companies, not a prediction for IMMO VBL. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.