IMMO V.D.S.: 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 V.D.S.
Largest movements
- Tangible fixed assets -€40,426
down €40,426 (-4.1%), from €979,671 to €939,245
of which Land and buildings: -€40,247
- Cash +€21,412
up €21,412 (+26.8%), from €80,025 to €101,437
mainly Depreciation (+€68,990) and Net result for the year (+€5,853)
- Receivables within one year +€12,790
new in 2025: €12,790
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€26,730
up €26,730 (+40.4%), from €66,211 to €92,941
- Taxes +€5,272
new in 2025: €5,272
- Other operating charges +€2,361
up €2,361 (+16.4%), from €14,350 to €16,711
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 | €1,158,826 | €1,155,303 | -€3,523 | -0.3% |
| Fixed assets | 21/28 | €979,791 | €939,365 | -€40,426 | -4.1% |
| Tangible fixed assets | 22/27 | €979,671 | €939,245 | -€40,426 | -4.1% |
| Land and buildings | 22 | €979,491 | €939,245 | -€40,247 | -4.1% |
| Furniture and vehicles | 24 | €180 | - | -€180 | |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €179,035 | €215,938 | +€36,903 | +20.6% |
| Amounts receivable within one year | 40/41 | - | €12,790 | +€12,790 | |
| Other amounts receivable | 41 | - | €12,790 | +€12,790 | |
| Current investments | 50/53 | €99,010 | €99,010 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €80,025 | €101,437 | +€21,412 | +26.8% |
| Deferred charges and accrued income | 490/1 | - | €2,701 | +€2,701 | |
| Total equity and liabilities | 10/49 | €1,158,826 | €1,155,303 | -€3,523 | -0.3% |
| Equity | 10/15 | €1,096,473 | €1,102,326 | +€5,853 | +0.5% |
| Contributions | 10/11 | €805,654 | €805,654 | = | 0.0% |
| Capital | 10 | €805,654 | €805,654 | = | 0.0% |
| Issued capital | 100 | €805,654 | €805,654 | = | 0.0% |
| Reserves | 13 | €296,324 | €296,672 | +€348 | +0.1% |
| Non-distributable reserves | 130/1 | €80,565 | €80,565 | = | 0.0% |
| Legal reserve | 130 | €80,565 | €80,565 | = | 0.0% |
| Tax-exempt reserves | 132 | €97,775 | €90,056 | -€7,719 | -7.9% |
| Distributable reserves | 133 | €117,984 | €126,051 | +€8,067 | +6.8% |
| Profit (loss) carried forward | 14 | -€5,505 | - | +€5,505 | |
| Provisions and deferred taxes | 16 | €50,347 | €46,372 | -€3,975 | -7.9% |
| Deferred taxes | 168 | €50,347 | €46,372 | -€3,975 | -7.9% |
| Amounts payable | 17/49 | €12,006 | €6,605 | -€5,401 | -45.0% |
| Amounts payable within one year | 42/48 | €12,006 | €6,605 | -€5,401 | -45.0% |
| Trade debts | 44 | €1,384 | €3,773 | +€2,389 | +173% |
| Suppliers | 440/4 | €1,384 | €3,773 | +€2,389 | +173% |
| Taxes, remuneration and social security | 45 | €3,436 | €2,832 | -€605 | -17.6% |
| Taxes | 450/3 | €2,031 | €2,832 | +€801 | +39.4% |
| Remuneration and social security | 454/9 | €1,406 | - | -€1,406 | |
| Other amounts payable | 47/48 | €7,186 | - | -€7,186 | |
| Non-recurring operating income | 76A | - | €5,659 | +€5,659 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,024 | €68,990 | -€34 | 0.0% |
| Other operating charges | 640/8 | €14,350 | €16,711 | +€2,361 | +16.4% |
| Gross operating margin | 9900 | €66,211 | €92,941 | +€26,730 | +40.4% |
| Operating profit (loss) | 9901 | -€17,163 | €7,240 | +€24,404 | |
| Financial charges | 65/66B | €36 | €90 | +€54 | +150% |
| Recurring financial charges | 65 | €36 | €90 | +€54 | +150% |
| Profit (loss) for the period before taxes | 9903 | -€17,199 | €7,150 | +€24,350 | |
| Transfer from deferred taxes | 780 | €3,975 | €3,975 | = | 0.0% |
| Income taxes | 67/77 | - | €5,272 | +€5,272 | |
| Profit (loss) for the period | 9904 | -€13,225 | €5,853 | +€19,078 | |
| Transfer from tax-exempt reserves | 789 | €7,719 | €7,719 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,505 | €13,572 | +€19,078 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.