Immo V.D.E.: 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.E.
Largest movements
- Cash -€16,408
down €16,408 (-40.7%), from €40,337 to €23,930
mainly Investment in fixed assets (net) (-€14,423) and Current portion of long-term debt (-€10,848)
- Tangible fixed assets +€7,445
up €7,445 (+7.1%), from €105,176 to €112,621
of which Plant, machinery and equipment: +€9,147
- Receivables within one year +€6,613
up €6,613 (+55.1%), from €12,000 to €18,613
of which Trade receivables: +€10,750
- Reserves +€12,432
up €12,432 (+41.9%), from €29,690 to €42,122
of which Distributable reserves: +€11,750
- Current portion of long-term debt -€10,848
no longer reported in 2025 (was €10,848)
- Tax, wage and social debts -€4,485
down €4,485 (-68.7%), from €6,525 to €2,039
- Taxes -€2,575
down €2,575 (-24.2%), from €10,644 to €8,069
- Gross operating margin -€1,553
down €1,553 (-3.9%), from €39,329 to €37,776
- Financial charges +€1,509
up €1,509 (+177.6%), from €850 to €2,359
- Depreciation -€817
down €817 (-10.5%), from €7,795 to €6,978
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 | €165,513 | €163,164 | -€2,349 | -1.4% |
| Fixed assets | 21/28 | €105,176 | €112,621 | +€7,445 | +7.1% |
| Tangible fixed assets | 22/27 | €105,176 | €112,621 | +€7,445 | +7.1% |
| Land and buildings | 22 | €99,701 | €96,292 | -€3,409 | -3.4% |
| Plant, machinery and equipment | 23 | €4,740 | €13,887 | +€9,147 | +193.0% |
| Furniture and vehicles | 24 | €735 | €2,442 | +€1,707 | +232.4% |
| Current assets | 29/58 | €60,337 | €50,543 | -€9,795 | -16.2% |
| Amounts receivable within one year | 40/41 | €12,000 | €18,613 | +€6,613 | +55.1% |
| Trade receivables | 40 | - | €10,750 | +€10,750 | |
| Other amounts receivable | 41 | €12,000 | €7,863 | -€4,137 | -34.5% |
| Current investments | 50/53 | €8,000 | €8,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €40,337 | €23,930 | -€16,408 | -40.7% |
| Total equity and liabilities | 10/49 | €165,513 | €163,164 | -€2,349 | -1.4% |
| Equity | 10/15 | €116,563 | €129,032 | +€12,469 | +10.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €29,690 | €42,122 | +€12,432 | +41.9% |
| Non-distributable reserves | 130/1 | €2,761 | €3,444 | +€682 | +24.7% |
| Legal reserve | 130 | €2,761 | €3,444 | +€682 | +24.7% |
| Tax-exempt reserves | 132 | €928 | €928 | = | 0.0% |
| Distributable reserves | 133 | €26,000 | €37,750 | +€11,750 | +45.2% |
| Profit (loss) carried forward | 14 | €24,873 | €24,910 | +€36 | +0.1% |
| Amounts payable | 17/49 | €48,950 | €34,132 | -€14,818 | -30.3% |
| Amounts payable after more than one year | 17 | €20,000 | €20,000 | = | 0.0% |
| Other amounts payable | 178/9 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €28,260 | €13,407 | -€14,853 | -52.6% |
| Current portion of amounts payable after more than one year | 42 | €10,848 | - | -€10,848 | |
| Trade debts | 44 | €33 | €979 | +€946 | +2884.2% |
| Suppliers | 440/4 | - | €979 | +€979 | |
| Bills of exchange payable | 441 | €33 | - | -€33 | |
| Taxes, remuneration and social security | 45 | €6,525 | €2,039 | -€4,485 | -68.7% |
| Taxes | 450/3 | €6,525 | €2,039 | -€4,485 | -68.7% |
| Other amounts payable | 47/48 | €10,855 | €10,389 | -€465 | -4.3% |
| Accrued charges and deferred income | 492/3 | €690 | €725 | +€35 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,795 | €6,978 | -€817 | -10.5% |
| Other operating charges | 640/8 | €7,933 | €8,029 | +€96 | +1.2% |
| Gross operating margin | 9900 | €39,329 | €37,776 | -€1,553 | -3.9% |
| Operating profit (loss) | 9901 | €23,601 | €22,769 | -€832 | -3.5% |
| Financial income | 75/76B | €48 | €128 | +€81 | +168.2% |
| Recurring financial income | 75 | €48 | €128 | +€81 | +168.2% |
| Financial charges | 65/66B | €850 | €2,359 | +€1,509 | +177.6% |
| Recurring financial charges | 65 | €850 | €2,359 | +€1,509 | +177.6% |
| Profit (loss) for the period before taxes | 9903 | €22,799 | €20,538 | -€2,261 | -9.9% |
| Income taxes | 67/77 | €10,644 | €8,069 | -€2,575 | -24.2% |
| Profit (loss) for the period | 9904 | €12,154 | €12,469 | +€314 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,154 | €12,469 | +€314 | +2.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.