Immo & Plaisance VAX: what changed
Immo & Plaisance VAX
Largest movements
- Tangible fixed assets -€827,518
down €827,518 (-99.8%), from €829,355 to €1,838
of which Land and buildings: -€820,455
- Cash +€44,409
up €44,409 (+465%), from €9,545 to €53,954
mainly Investment in fixed assets (net) (+€826,056) and Net result for the year (+€459,171)
- Receivables within one year -€22,192
down €22,192 (-100.0%), from €22,202 to €11
of which Trade receivables: -€19,228
- Debts after one year -€882,040
down €882,040 (-79.9%), from €1.1m to €222,196
of which Financial debts: -€591,596
- Profit (loss) carried forward +€459,171
up €459,171 (+71.3%), from -€644,016 to -€184,846
- Trade debts -€188,154
down €188,154 (-99.8%), from €188,560 to €406
- Other debts -€92,899
no longer reported in 2025 (was €92,899)
- Current portion of long-term debt -€81,191
no longer reported in 2025 (was €81,191)
- Gross operating margin +€557,761
up €557,761, from -€18,392 to €539,369
- Depreciation -€46,363
down €46,363 (-96.9%), from €47,825 to €1,461
- Financial charges +€30,782
up €30,782 (+126%), from €24,464 to €55,246
of which Financial charges: +€32,348
- Other operating charges -€13,657
down €13,657 (-43.3%), from €31,547 to €17,890
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €862,584 | €56,356 | -€806,228 | -93.5% |
| Fixed assets | 21/28 | €829,385 | €1,868 | -€827,518 | -99.8% |
| Tangible fixed assets | 22/27 | €829,355 | €1,838 | -€827,518 | -99.8% |
| Land and buildings | 22 | €820,455 | - | -€820,455 | |
| Furniture and vehicles | 24 | €3,299 | €1,838 | -€1,461 | -44.3% |
| Other tangible fixed assets | 26 | €5,602 | - | -€5,602 | |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €33,199 | €54,489 | +€21,290 | +64.1% |
| Amounts receivable within one year | 40/41 | €22,202 | €11 | -€22,192 | -100.0% |
| Trade receivables | 40 | €19,228 | - | -€19,228 | |
| Other amounts receivable | 41 | €2,974 | €11 | -€2,963 | -99.6% |
| Cash at bank and in hand | 54/58 | €9,545 | €53,954 | +€44,409 | +465% |
| Deferred charges and accrued income | 490/1 | €1,451 | €524 | -€928 | -63.9% |
| Total equity and liabilities | 10/49 | €862,584 | €56,356 | -€806,228 | -93.5% |
| Equity | 10/15 | -€625,416 | -€166,246 | +€459,171 | +73.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€644,016 | -€184,846 | +€459,171 | +71.3% |
| Amounts payable | 17/49 | €1,488,000 | €222,602 | -€1.3m | -85.0% |
| Amounts payable after more than one year | 17 | €1,104,235 | €222,196 | -€882,040 | -79.9% |
| Financial debts | 170/4 | €591,596 | - | -€591,596 | |
| Other amounts payable | 178/9 | €512,640 | €222,196 | -€290,444 | -56.7% |
| Amounts payable within one year | 42/48 | €382,242 | €406 | -€381,836 | -99.9% |
| Current portion of amounts payable after more than one year | 42 | €81,191 | - | -€81,191 | |
| Trade debts | 44 | €188,560 | €406 | -€188,154 | -99.8% |
| Suppliers | 440/4 | €188,560 | €406 | -€188,154 | -99.8% |
| Taxes, remuneration and social security | 45 | €19,592 | - | -€19,592 | |
| Remuneration and social security | 454/9 | €19,592 | - | -€19,592 | |
| Other amounts payable | 47/48 | €92,899 | - | -€92,899 | |
| Accrued charges and deferred income | 492/3 | €1,522 | - | -€1,522 | |
| Non-recurring operating income | 76A | - | €554,545 | +€554,545 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,825 | €1,461 | -€46,363 | -96.9% |
| Other operating charges | 640/8 | €31,547 | €17,890 | -€13,657 | -43.3% |
| Non-recurring operating charges | 66A | - | €5,602 | +€5,602 | |
| Gross operating margin | 9900 | -€18,392 | €539,369 | +€557,761 | |
| Operating profit (loss) | 9901 | -€97,764 | €514,415 | +€612,180 | |
| Financial income | 75/76B | €54 | €2 | -€52 | -96.2% |
| Recurring financial income | 75 | €54 | €2 | -€52 | -96.2% |
| Financial charges | 65/66B | €24,464 | €55,246 | +€30,782 | +126% |
| Recurring financial charges | 65 | €22,898 | €55,246 | +€32,348 | +141% |
| Non-recurring financial charges | 66B | €1,566 | - | -€1,566 | |
| Profit (loss) for the period before taxes | 9903 | -€122,174 | €459,171 | +€581,345 | |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€122,174 | €459,171 | +€581,345 | |
| Profit (loss) for the period to be appropriated | 9905 | -€122,174 | €459,171 | +€581,345 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.