IMMO DE VAART: 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.
IMMO DE VAART
Largest movements
- Tangible fixed assets -€253,312
down €253,312 (-3.1%), from €8.1m to €7.8m
of which Land and buildings: -€251,705
- Debts after one year -€200,320
down €200,320 (-5.9%), from €3.4m to €3.2m
- Reserves +€118,498
up €118,498 (+17.6%), from €674,829 to €793,327
of which Distributable reserves: +€111,998
- Accrued charges and deferred income -€100,509
down €100,509 (-63.9%), from €157,383 to €56,873
- Current portion of long-term debt -€93,750
down €93,750 (-31.9%), from €294,070 to €200,320
- Financial charges -€31,689
down €31,689 (-24.8%), from €127,893 to €96,205
- Taxes +€17,095
up €17,095 (+61.3%), from €27,866 to €44,961
- Gross operating margin +€9,846
up €9,846 (+1.6%), from €620,111 to €629,957
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 | €8,175,477 | €7,915,131 | -€260,347 | -3.2% |
| Fixed assets | 21/28 | €8,083,658 | €7,830,346 | -€253,312 | -3.1% |
| Tangible fixed assets | 22/27 | €8,083,658 | €7,830,346 | -€253,312 | -3.1% |
| Land and buildings | 22 | €8,060,154 | €7,808,449 | -€251,705 | -3.1% |
| Furniture and vehicles | 24 | €23,503 | €21,896 | -€1,607 | -6.8% |
| Current assets | 29/58 | €91,819 | €84,785 | -€7,034 | -7.7% |
| Amounts receivable within one year | 40/41 | €39,208 | €34,742 | -€4,466 | -11.4% |
| Trade receivables | 40 | €39,208 | €34,742 | -€4,466 | -11.4% |
| Cash at bank and in hand | 54/58 | €39,896 | €36,977 | -€2,919 | -7.3% |
| Deferred charges and accrued income | 490/1 | €12,716 | €13,067 | +€351 | +2.8% |
| Total equity and liabilities | 10/49 | €8,175,477 | €7,915,131 | -€260,347 | -3.2% |
| Equity | 10/15 | €2,904,829 | €3,023,327 | +€118,498 | +4.1% |
| Contributions | 10/11 | €2,230,000 | €2,230,000 | = | 0.0% |
| Capital | 10 | €2,230,000 | €2,230,000 | = | 0.0% |
| Issued capital | 100 | €2,230,000 | €2,230,000 | = | 0.0% |
| Reserves | 13 | €674,829 | €793,327 | +€118,498 | +17.6% |
| Non-distributable reserves | 130/1 | €70,000 | €76,500 | +€6,500 | +9.3% |
| Legal reserve | 130 | €70,000 | €76,500 | +€6,500 | +9.3% |
| Distributable reserves | 133 | €604,829 | €716,827 | +€111,998 | +18.5% |
| Amounts payable | 17/49 | €5,270,649 | €4,891,804 | -€378,845 | -7.2% |
| Amounts payable after more than one year | 17 | €3,390,000 | €3,189,680 | -€200,320 | -5.9% |
| Financial debts | 170/4 | €3,390,000 | €3,189,680 | -€200,320 | -5.9% |
| Amounts payable within one year | 42/48 | €1,723,266 | €1,645,250 | -€78,015 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €294,070 | €200,320 | -€93,750 | -31.9% |
| Trade debts | 44 | €27,527 | €51,697 | +€24,170 | +87.8% |
| Suppliers | 440/4 | €27,527 | €51,697 | +€24,170 | +87.8% |
| Taxes, remuneration and social security | 45 | €27,866 | €44,961 | +€17,095 | +61.3% |
| Taxes | 450/3 | €27,866 | €44,961 | +€17,095 | +61.3% |
| Other amounts payable | 47/48 | €1,373,803 | €1,348,273 | -€25,530 | -1.9% |
| Accrued charges and deferred income | 492/3 | €157,383 | €56,873 | -€100,509 | -63.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €314,955 | €320,468 | +€5,513 | +1.8% |
| Other operating charges | 640/8 | €52,954 | €49,826 | -€3,128 | -5.9% |
| Gross operating margin | 9900 | €620,111 | €629,957 | +€9,846 | +1.6% |
| Operating profit (loss) | 9901 | €252,202 | €259,664 | +€7,461 | +3.0% |
| Financial charges | 65/66B | €127,893 | €96,205 | -€31,689 | -24.8% |
| Recurring financial charges | 65 | €127,893 | €96,205 | -€31,689 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €124,309 | €163,459 | +€39,150 | +31.5% |
| Income taxes | 67/77 | €27,866 | €44,961 | +€17,095 | +61.3% |
| Profit (loss) for the period | 9904 | €96,443 | €118,498 | +€22,055 | +22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €96,443 | €118,498 | +€22,055 | +22.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.