Immo V.W.: 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.W.
Largest movements
- Cash +€211,880
up €211,880 (+19.5%), from €1.1m to €1.3m
mainly Net result for the year (+€199,516) and Depreciation (+€114,174)
- Tangible fixed assets -€106,393
down €106,393 (-4.1%), from €2.6m to €2.5m
of which Land and buildings: -€99,385
- Reserves +€202,797
up €202,797 (+4.7%), from €4.3m to €4.5m
of which Distributable reserves: +€209,166
- Tax, wage and social debts -€61,056
down €61,056 (-46.7%), from €130,745 to €69,690
- Gross operating margin -€64,346
down €64,346 (-11.7%), from €549,182 to €484,835
- Taxes -€16,813
down €16,813 (-13.4%), from €125,094 to €108,281
- Financial income -€7,700
down €7,700 (-42.6%), from €18,092 to €10,392
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 | €5,400,396 | €5,520,803 | +€120,407 | +2.2% |
| Fixed assets | 21/28 | €2,611,803 | €2,505,410 | -€106,393 | -4.1% |
| Tangible fixed assets | 22/27 | €2,609,553 | €2,503,160 | -€106,393 | -4.1% |
| Land and buildings | 22 | €2,586,755 | €2,487,370 | -€99,385 | -3.8% |
| Plant, machinery and equipment | 23 | €16,112 | €12,448 | -€3,664 | -22.7% |
| Furniture and vehicles | 24 | €6,685 | €3,343 | -€3,343 | -50.0% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €2,788,593 | €3,015,393 | +€226,800 | +8.1% |
| Amounts receivable within one year | 40/41 | €179,183 | €200,235 | +€21,053 | +11.7% |
| Other amounts receivable | 41 | €179,183 | €200,235 | +€21,053 | +11.7% |
| Current investments | 50/53 | €1,500,255 | €1,500,255 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,087,171 | €1,299,051 | +€211,880 | +19.5% |
| Deferred charges and accrued income | 490/1 | €21,985 | €15,851 | -€6,133 | -27.9% |
| Total equity and liabilities | 10/49 | €5,400,396 | €5,520,803 | +€120,407 | +2.2% |
| Equity | 10/15 | €4,384,367 | €4,587,164 | +€202,797 | +4.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €4,321,944 | €4,524,741 | +€202,797 | +4.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €72,692 | €66,322 | -€6,369 | -8.8% |
| Distributable reserves | 133 | €4,243,103 | €4,452,269 | +€209,166 | +4.9% |
| Profit (loss) carried forward | 14 | €923 | €923 | = | 0.0% |
| Provisions and deferred taxes | 16 | €37,416 | €34,134 | -€3,281 | -8.8% |
| Deferred taxes | 168 | €37,416 | €34,134 | -€3,281 | -8.8% |
| Amounts payable | 17/49 | €978,613 | €899,505 | -€79,108 | -8.1% |
| Amounts payable after more than one year | 17 | €56,525 | €81,725 | +€25,200 | +44.6% |
| Other amounts payable | 178/9 | €56,525 | €81,725 | +€25,200 | +44.6% |
| Amounts payable within one year | 42/48 | €920,538 | €817,780 | -€102,758 | -11.2% |
| Trade debts | 44 | €34,542 | €4,139 | -€30,403 | -88.0% |
| Suppliers | 440/4 | €34,542 | €4,139 | -€30,403 | -88.0% |
| Taxes, remuneration and social security | 45 | €130,745 | €69,690 | -€61,056 | -46.7% |
| Taxes | 450/3 | €130,745 | €69,690 | -€61,056 | -46.7% |
| Other amounts payable | 47/48 | €755,250 | €743,951 | -€11,300 | -1.5% |
| Accrued charges and deferred income | 492/3 | €1,550 | €0 | -€1,550 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,036 | €114,174 | +€2,138 | +1.9% |
| Other operating charges | 640/8 | €71,343 | €71,778 | +€435 | +0.6% |
| Gross operating margin | 9900 | €549,182 | €484,835 | -€64,346 | -11.7% |
| Operating profit (loss) | 9901 | €365,802 | €298,883 | -€66,919 | -18.3% |
| Financial income | 75/76B | €18,092 | €10,392 | -€7,700 | -42.6% |
| Recurring financial income | 75 | €18,092 | €10,392 | -€7,700 | -42.6% |
| Financial charges | 65/66B | €2,139 | €1,478 | -€661 | -30.9% |
| Recurring financial charges | 65 | €2,139 | €1,478 | -€661 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €381,756 | €307,797 | -€73,959 | -19.4% |
| Income taxes | 67/77 | €125,094 | €108,281 | -€16,813 | -13.4% |
| Profit (loss) for the period | 9904 | €256,661 | €199,516 | -€57,146 | -22.3% |
| Transfer from tax-exempt reserves | 789 | €9,650 | €9,650 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €266,312 | €209,166 | -€57,146 | -21.5% |
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 18 October 2026 via checked.be.