IMMO V.D.M.: 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
IMMO V.D.M.
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€840,807
2024 · €712,416+€128,390
Equity
€37.8m
2024 · €37.0m+€840,807
Cash
€1.9m
2024 · €1.8m+€130,698
Balance sheet total
€40.8m
2024 · €39.9m+€893,192
Largest movements
Assets
- Financial fixed assets +€1.0m
up €1.0m (+62.9%), from €1.6m to €2.6m
Equity and liabilities
- Reserves +€840,807
up €840,807 (+2.3%), from €36.9m to €37.7m
of which Distributable reserves: +€840,807
Income statement
- Financial income +€143,369
up €143,369 (+18.0%), from €798,460 to €941,830
of which Non-recurring financial income: +€241,525
- Other operating charges +€11,607
up €11,607 (+48.9%), from €23,758 to €35,365
- Gross operating margin -€5,651
down €5,651 (-3.2%), from €177,790 to €172,139
- Depreciation -€3,819
down €3,819 (-3.1%), from €124,828 to €121,009
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
€712,416
Gross operating margin
-€5,651
Staff costs
-€1,673
Depreciation
+€3,819
Other operating charges
-€11,607
Financial income
+€143,369
Financial charges
+€132
Result 2025
€840,807
raises the resultlowers the result
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
+€1.1m
Investment
-€1.0m
Financing
+€61,744
Cash 2024
€1.8m
From operations (derived)
+€1.1m
Net result for the year
+€840,807
Depreciation
+€121,009
Receivables after one year
+€329,293
Receivables within one year
-€191,302
Deferred charges and accrued income
+€519
Trade debts
+€3,135
Tax, wage and social debts
+€3,754
Other debts
-€16,249
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€1.0m
Financing
+€61,744
Debts after one year
+€61,744
Cash 2025
€1.9m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,911,908 | €40,805,100 | +€893,192 | +2.2% |
| Fixed assets | 21/28 | €3,267,880 | €4,168,883 | +€901,003 | +27.6% |
| Tangible fixed assets | 22/27 | €1,676,378 | €1,576,131 | -€100,247 | -6.0% |
| Land and buildings | 22 | €1,630,503 | €1,523,054 | -€107,449 | -6.6% |
| Plant, machinery and equipment | 23 | €45,875 | €53,077 | +€7,203 | +15.7% |
| Financial fixed assets | 28 | €1,591,502 | €2,592,752 | +€1.0m | +62.9% |
| Current assets | 29/58 | €36,644,028 | €36,636,216 | -€7,811 | 0.0% |
| Amounts receivable after more than one year | 29 | €34,838,922 | €34,509,629 | -€329,293 | -0.9% |
| Other amounts receivable | 291 | €34,838,922 | €34,509,629 | -€329,293 | -0.9% |
| Amounts receivable within one year | 40/41 | €375 | €191,677 | +€191,302 | +51,041% |
| Trade receivables | 40 | €375 | €11,588 | +€11,213 | +2,992% |
| Other amounts receivable | 41 | - | €180,089 | +€180,089 | |
| Cash at bank and in hand | 54/58 | €1,804,188 | €1,934,886 | +€130,698 | +7.2% |
| Deferred charges and accrued income | 490/1 | €543 | €24 | -€519 | -95.5% |
| Total equity and liabilities | 10/49 | €39,911,908 | €40,805,100 | +€893,192 | +2.2% |
| Equity | 10/15 | €36,953,716 | €37,794,523 | +€840,807 | +2.3% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €36,883,716 | €37,724,523 | +€840,807 | +2.3% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Legal reserve | 130 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €36,876,716 | €37,717,523 | +€840,807 | +2.3% |
| Amounts payable | 17/49 | €2,958,191 | €3,010,576 | +€52,385 | +1.8% |
| Amounts payable after more than one year | 17 | €2,924,108 | €2,985,852 | +€61,744 | +2.1% |
| Other amounts payable | 178/9 | €2,924,108 | €2,985,852 | +€61,744 | +2.1% |
| Amounts payable within one year | 42/48 | €34,084 | €24,724 | -€9,359 | -27.5% |
| Trade debts | 44 | €4,939 | €8,074 | +€3,135 | +63.5% |
| Suppliers | 440/4 | €4,939 | €8,074 | +€3,135 | +63.5% |
| Taxes, remuneration and social security | 45 | €12,096 | €15,850 | +€3,754 | +31.0% |
| Remuneration and social security | 454/9 | €12,096 | €15,850 | +€3,754 | +31.0% |
| Other amounts payable | 47/48 | €17,049 | €800 | -€16,249 | -95.3% |
| Remuneration, social security and pensions | 62 | €52,885 | €54,558 | +€1,673 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,828 | €121,009 | -€3,819 | -3.1% |
| Other operating charges | 640/8 | €23,758 | €35,365 | +€11,607 | +48.9% |
| Gross operating margin | 9900 | €177,790 | €172,139 | -€5,651 | -3.2% |
| Operating profit (loss) | 9901 | -€23,682 | -€38,793 | -€15,111 | -63.8% |
| Financial income | 75/76B | €798,460 | €941,830 | +€143,369 | +18.0% |
| Recurring financial income | 75 | €798,460 | €700,305 | -€98,156 | -12.3% |
| Non-recurring financial income | 76B | - | €241,525 | +€241,525 | |
| Financial charges | 65/66B | €62,363 | €62,231 | -€132 | -0.2% |
| Recurring financial charges | 65 | €62,363 | €62,231 | -€132 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €712,416 | €840,807 | +€128,390 | +18.0% |
| Profit (loss) for the period | 9904 | €712,416 | €840,807 | +€128,390 | +18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €712,416 | €840,807 | +€128,390 | +18.0% |
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 19 October 2026 via checked.be.