IMMO-V.D.: what changed
Two fiscal 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-V.D.
Largest movements
- Tangible fixed assets +€638,786
up €638,786 (+137.3%), from €465,258 to €1.1m
of which Land and buildings: +€642,484
- Cash +€92,016
up €92,016 (+239.8%), from €38,365 to €130,381
mainly Current portion of long-term debt (+€450,000) and Debts after one year (+€400,000)
- Receivables within one year -€32,531
down €32,531 (-100.0%), from €32,531 to €0
- Current portion of long-term debt +€450,000
new in 2025: €450,000
- Debts after one year +€400,000
new in 2025: €400,000
- Profit (loss) carried forward -€65,383
down €65,383 (-41.8%), from €156,490 to €91,107
- Short-term financial debts -€60,000
down €60,000 (-26.7%), from €225,000 to €165,000
- Tax, wage and social debts -€25,653
down €25,653 (-100.0%), from €25,653 to €0
- Financial income -€74,058
down €74,058 (-100.0%), from €74,058 to €0
- Depreciation +€62,678
up €62,678 (+125.9%), from €49,765 to €112,442
- Taxes -€25,653
down €25,653 (-100.0%), from €25,653 to €0
- Financial charges +€10,195
up €10,195 (+60.6%), from €16,812 to €27,007
- Gross operating margin +€3,582
up €3,582 (+3.9%), from €91,413 to €94,995
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.
Cash bridge derived
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 | €1,505,920 | €2,204,191 | +€698,271 | +46.4% |
| Fixed assets | 21/28 | €465,258 | €1,104,044 | +€638,786 | +137.3% |
| Tangible fixed assets | 22/27 | €465,258 | €1,104,044 | +€638,786 | +137.3% |
| Land and buildings | 22 | €450,405 | €1,092,889 | +€642,484 | +142.6% |
| Plant, machinery and equipment | 23 | €11,937 | €10,036 | -€1,900 | -15.9% |
| Furniture and vehicles | 24 | €2,916 | €1,119 | -€1,798 | -61.6% |
| Current assets | 29/58 | €1,040,662 | €1,100,147 | +€59,485 | +5.7% |
| Amounts receivable within one year | 40/41 | €32,531 | €0 | -€32,531 | -100.0% |
| Other amounts receivable | 41 | €32,531 | €0 | -€32,531 | -100.0% |
| Current investments | 50/53 | €969,766 | €969,766 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,365 | €130,381 | +€92,016 | +239.8% |
| Total equity and liabilities | 10/49 | €1,505,920 | €2,204,191 | +€698,271 | +46.4% |
| Equity | 10/15 | €1,174,252 | €1,108,869 | -€65,383 | -5.6% |
| Contributions | 10/11 | €212,000 | €212,000 | = | 0.0% |
| Capital | 10 | €212,000 | €212,000 | = | 0.0% |
| Issued capital | 100 | €212,000 | €212,000 | = | 0.0% |
| Reserves | 13 | €805,762 | €805,762 | = | 0.0% |
| Non-distributable reserves | 130/1 | €21,200 | €21,200 | = | 0.0% |
| Legal reserve | 130 | €21,200 | €21,200 | = | 0.0% |
| Distributable reserves | 133 | €784,562 | €784,562 | = | 0.0% |
| Profit (loss) carried forward | 14 | €156,490 | €91,107 | -€65,383 | -41.8% |
| Amounts payable | 17/49 | €331,668 | €1,095,322 | +€763,654 | +230.2% |
| Amounts payable after more than one year | 17 | - | €400,000 | +€400,000 | |
| Financial debts | 170/4 | - | €400,000 | +€400,000 | |
| Amounts payable within one year | 42/48 | €316,868 | €686,134 | +€369,266 | +116.5% |
| Current portion of amounts payable after more than one year | 42 | - | €450,000 | +€450,000 | |
| Financial debts | 43 | €225,000 | €165,000 | -€60,000 | -26.7% |
| Other loans | 439 | €225,000 | €165,000 | -€60,000 | -26.7% |
| Trade debts | 44 | €3,887 | €12,032 | +€8,145 | +209.5% |
| Suppliers | 440/4 | €3,887 | €12,032 | +€8,145 | +209.5% |
| Taxes, remuneration and social security | 45 | €25,653 | €0 | -€25,653 | -100.0% |
| Taxes | 450/3 | €25,653 | €0 | -€25,653 | -100.0% |
| Other amounts payable | 47/48 | €62,327 | €59,102 | -€3,225 | -5.2% |
| Accrued charges and deferred income | 492/3 | €14,800 | €9,188 | -€5,613 | -37.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,765 | €112,442 | +€62,678 | +125.9% |
| Other operating charges | 640/8 | €23,805 | €20,930 | -€2,876 | -12.1% |
| Gross operating margin | 9900 | €91,413 | €94,995 | +€3,582 | +3.9% |
| Operating profit (loss) | 9901 | €17,843 | -€38,376 | -€56,219 | |
| Financial income | 75/76B | €74,058 | €0 | -€74,058 | -100.0% |
| Recurring financial income | 75 | €74,058 | €0 | -€74,058 | -100.0% |
| Financial charges | 65/66B | €16,812 | €27,007 | +€10,195 | +60.6% |
| Recurring financial charges | 65 | €16,812 | €27,007 | +€10,195 | +60.6% |
| Profit (loss) for the period before taxes | 9903 | €75,089 | -€65,383 | -€140,473 | |
| Income taxes | 67/77 | €25,653 | €0 | -€25,653 | -100.0% |
| Profit (loss) for the period | 9904 | €49,436 | -€65,383 | -€114,820 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,436 | -€65,383 | -€114,820 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.