C.V.D. IMMOVEST: 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.
C.V.D. IMMOVEST
Largest movements
- Tangible fixed assets -€50,652
down €50,652 (-3.5%), from €1.5m to €1.4m
of which Land and buildings: -€34,964
- Deferred charges and accrued income +€45,717
up €45,717 (+404%), from €11,322 to €57,039
- Cash +€27,390
up €27,390 (+151%), from €18,157 to €45,547
mainly Net result for the year (+€69,376) and Depreciation (+€50,652)
- Receivables within one year -€26,151
down €26,151 (-50.4%), from €51,874 to €25,724
of which Trade receivables: -€36,023
- Debts after one year -€71,263
down €71,263 (-8.5%), from €836,725 to €765,463
of which Financial debts: -€71,313
- Reserves +€69,376
up €69,376 (+67.8%), from €102,359 to €171,735
of which Distributable reserves: +€69,376
- Accrued charges and deferred income +€19,680
up €19,680 (+2,696%), from €730 to €20,410
- Other debts -€19,200
down €19,200 (-5.8%), from €331,959 to €312,759
- Gross operating margin -€41,079
down €41,079 (-16.9%), from €243,469 to €202,390
- Taxes -€24,773
down €24,773 (-50.7%), from €48,840 to €24,066
- Financial charges +€18,542
up €18,542 (+77.1%), from €24,056 to €42,599
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 | €1,541,347 | €1,537,651 | -€3,696 | -0.2% |
| Fixed assets | 21/28 | €1,459,993 | €1,409,341 | -€50,652 | -3.5% |
| Tangible fixed assets | 22/27 | €1,459,993 | €1,409,341 | -€50,652 | -3.5% |
| Land and buildings | 22 | €1,375,615 | €1,340,651 | -€34,964 | -2.5% |
| Furniture and vehicles | 24 | €78,310 | €62,622 | -€15,688 | -20.0% |
| Assets under construction and advance payments | 27 | €6,068 | €6,068 | = | 0.0% |
| Current assets | 29/58 | €81,354 | €128,309 | +€46,956 | +57.7% |
| Amounts receivable within one year | 40/41 | €51,874 | €25,724 | -€26,151 | -50.4% |
| Trade receivables | 40 | €48,123 | €12,100 | -€36,023 | -74.9% |
| Other amounts receivable | 41 | €3,751 | €13,624 | +€9,872 | +263% |
| Cash at bank and in hand | 54/58 | €18,157 | €45,547 | +€27,390 | +151% |
| Deferred charges and accrued income | 490/1 | €11,322 | €57,039 | +€45,717 | +404% |
| Total equity and liabilities | 10/49 | €1,541,347 | €1,537,651 | -€3,696 | -0.2% |
| Equity | 10/15 | €288,279 | €357,655 | +€69,376 | +24.1% |
| Contributions | 10/11 | €185,920 | €185,920 | = | 0.0% |
| Capital | 10 | €185,920 | €185,920 | = | 0.0% |
| Issued capital | 100 | €185,920 | €185,920 | = | 0.0% |
| Reserves | 13 | €102,359 | €171,735 | +€69,376 | +67.8% |
| Non-distributable reserves | 130/1 | €18,592 | €18,592 | = | 0.0% |
| Legal reserve | 130 | €18,592 | €18,592 | = | 0.0% |
| Distributable reserves | 133 | €83,767 | €153,143 | +€69,376 | +82.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,253,068 | €1,179,996 | -€73,072 | -5.8% |
| Amounts payable after more than one year | 17 | €836,725 | €765,463 | -€71,263 | -8.5% |
| Financial debts | 170/4 | €832,425 | €761,113 | -€71,313 | -8.6% |
| Other amounts payable | 178/9 | €4,300 | €4,350 | +€50 | +1.2% |
| Amounts payable within one year | 42/48 | €415,613 | €394,123 | -€21,490 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €69,565 | €71,313 | +€1,748 | +2.5% |
| Trade debts | 44 | €7,224 | €2,471 | -€4,753 | -65.8% |
| Suppliers | 440/4 | €7,224 | €2,471 | -€4,753 | -65.8% |
| Taxes, remuneration and social security | 45 | €6,865 | €7,581 | +€715 | +10.4% |
| Taxes | 450/3 | €6,865 | €7,581 | +€715 | +10.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €331,959 | €312,759 | -€19,200 | -5.8% |
| Accrued charges and deferred income | 492/3 | €730 | €20,410 | +€19,680 | +2,696% |
| Non-recurring operating income | 76A | - | €52,198 | +€52,198 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,878 | €50,652 | -€226 | -0.4% |
| Other operating charges | 640/8 | €13,432 | €15,697 | +€2,265 | +16.9% |
| Gross operating margin | 9900 | €243,469 | €202,390 | -€41,079 | -16.9% |
| Operating profit (loss) | 9901 | €179,159 | €136,041 | -€43,117 | -24.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €24,056 | €42,599 | +€18,542 | +77.1% |
| Recurring financial charges | 65 | €24,056 | €42,599 | +€18,542 | +77.1% |
| Profit (loss) for the period before taxes | 9903 | €155,102 | €93,443 | -€61,660 | -39.8% |
| Income taxes | 67/77 | €48,840 | €24,066 | -€24,773 | -50.7% |
| Profit (loss) for the period | 9904 | €106,263 | €69,376 | -€36,887 | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €106,263 | €69,376 | -€36,887 | -34.7% |
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 24 October 2026 via checked.be.