Frans Vos 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
Frans Vos Immo
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,153
2024 · €31,812-€27,659
Equity
€1.4m
2024 · €1.3m+€4,153
Cash
€78,577
2024 · €72,435+€6,142
Balance sheet total
€7.4m
2024 · €6.9m+€408,942
Largest movements
Assets
- Tangible fixed assets +€442,367
up €442,367 (+7.7%), from €5.8m to €6.2m
of which Land and buildings: +€488,547
Equity and liabilities
- Debts after one year +€375,750
up €375,750 (+8.9%), from €4.2m to €4.6m
Income statement
- Depreciation +€36,225
up €36,225 (+17.8%), from €204,047 to €240,272
- Write-downs +€14,000
new in 2025: €14,000
- Financial charges +€9,961
up €9,961 (+7.0%), from €142,878 to €152,839
- Gross operating margin -€6,377
down €6,377 (-1.4%), from €456,671 to €450,295
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
€31,812
Gross operating margin
-€6,377
Depreciation
-€36,225
Write-downs
-€14,000
Other operating charges
-€1,403
Other operating items
+€40,573
Financial income
-€266
Financial charges
-€9,961
Result 2025
€4,153
lowers 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
+€306,175
Investment
-€682,639
Financing
+€382,606
Cash 2024
€72,435
From operations (derived)
+€306,175
Net result for the year
+€4,153
Depreciation
+€240,272
Receivables within one year
+€38,795
Smaller working-capital items
+€336
Other debts
+€22,619
Investment (derived)
-€682,639
Investment in fixed assets (net)
-€682,639
Financing
+€382,606
Debts after one year
+€375,750
Current portion of long-term debt
+€6,856
Cash 2025
€78,577
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,949,130 | €7,358,072 | +€408,942 | +5.9% |
| Fixed assets | 21/28 | €6,298,357 | €6,740,725 | +€442,367 | +7.0% |
| Tangible fixed assets | 22/27 | €5,759,032 | €6,201,399 | +€442,367 | +7.7% |
| Land and buildings | 22 | €5,297,396 | €5,785,943 | +€488,547 | +9.2% |
| Plant, machinery and equipment | 23 | €297,480 | €280,171 | -€17,309 | -5.8% |
| Furniture and vehicles | 24 | €164,155 | €135,285 | -€28,870 | -17.6% |
| Financial fixed assets | 28 | €539,326 | €539,326 | = | 0.0% |
| Current assets | 29/58 | €650,773 | €617,347 | -€33,426 | -5.1% |
| Amounts receivable within one year | 40/41 | €577,406 | €538,611 | -€38,795 | -6.7% |
| Trade receivables | 40 | €94,146 | €51,970 | -€42,176 | -44.8% |
| Other amounts receivable | 41 | €483,260 | €486,641 | +€3,381 | +0.7% |
| Cash at bank and in hand | 54/58 | €72,435 | €78,577 | +€6,142 | +8.5% |
| Deferred charges and accrued income | 490/1 | €932 | €159 | -€773 | -82.9% |
| Total equity and liabilities | 10/49 | €6,949,130 | €7,358,072 | +€408,942 | +5.9% |
| Equity | 10/15 | €1,346,756 | €1,350,909 | +€4,153 | +0.3% |
| Contributions | 10/11 | €744,000 | €744,000 | = | 0.0% |
| Capital | 10 | €744,000 | €744,000 | = | 0.0% |
| Issued capital | 100 | €744,000 | €744,000 | = | 0.0% |
| Revaluation surpluses | 12 | €789,913 | €789,913 | = | 0.0% |
| Reserves | 13 | €74,792 | €74,792 | = | 0.0% |
| Non-distributable reserves | 130/1 | €74,400 | €74,400 | = | 0.0% |
| Legal reserve | 130 | €74,400 | €74,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €392 | €392 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€261,949 | -€257,796 | +€4,153 | +1.6% |
| Amounts payable | 17/49 | €5,602,375 | €6,007,163 | +€404,789 | +7.2% |
| Amounts payable after more than one year | 17 | €4,203,681 | €4,579,431 | +€375,750 | +8.9% |
| Financial debts | 170/4 | €4,203,681 | €4,579,431 | +€375,750 | +8.9% |
| Amounts payable within one year | 42/48 | €1,397,380 | €1,426,889 | +€29,509 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €417,394 | €424,250 | +€6,856 | +1.6% |
| Trade debts | 44 | €756 | €1,681 | +€925 | +122% |
| Suppliers | 440/4 | €756 | €1,681 | +€925 | +122% |
| Taxes, remuneration and social security | 45 | €892 | - | -€892 | |
| Taxes | 450/3 | €892 | - | -€892 | |
| Other amounts payable | 47/48 | €978,338 | €1,000,957 | +€22,619 | +2.3% |
| Accrued charges and deferred income | 492/3 | €1,314 | €844 | -€470 | -35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204,047 | €240,272 | +€36,225 | +17.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €14,000 | +€14,000 | |
| Other operating charges | 640/8 | €42,438 | €43,842 | +€1,403 | +3.3% |
| Non-recurring operating charges | 66A | €40,573 | - | -€40,573 | |
| Gross operating margin | 9900 | €456,671 | €450,295 | -€6,377 | -1.4% |
| Operating profit (loss) | 9901 | €169,613 | €152,181 | -€17,432 | -10.3% |
| Financial income | 75/76B | €5,077 | €4,811 | -€266 | -5.2% |
| Recurring financial income | 75 | €5,077 | €4,811 | -€266 | -5.2% |
| Financial charges | 65/66B | €142,878 | €152,839 | +€9,961 | +7.0% |
| Recurring financial charges | 65 | €142,878 | €152,839 | +€9,961 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €31,812 | €4,153 | -€27,659 | -86.9% |
| Profit (loss) for the period | 9904 | €31,812 | €4,153 | -€27,659 | -86.9% |
| Transfer to tax-exempt reserves | 689 | €389 | - | -€389 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,424 | €4,153 | -€27,271 | -86.8% |
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 28 October 2026 via checked.be.