IMMO VA-VA: 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 VA-VA
Largest movements
- Tangible fixed assets -€26,331
down €26,331 (-2.1%), from €1.3m to €1.2m
of which Land and buildings: -€40,691
- Debts after one year -€51,049
down €51,049 (-9.5%), from €538,992 to €487,943
- Other debts +€26,366
up €26,366 (+5.9%), from €448,752 to €475,118
- Gross operating margin +€19,179
up €19,179 (+31.7%), from €60,576 to €79,755
- Depreciation +€7,235
up €7,235 (+20.5%), from €35,250 to €42,485
- Financial charges +€5,325
up €5,325 (+62.2%), from €8,561 to €13,886
- Other operating charges +€1,459
up €1,459 (+6.6%), from €22,270 to €23,729
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 | €1,312,890 | €1,283,986 | -€28,904 | -2.2% |
| Fixed assets | 21/28 | €1,266,817 | €1,240,486 | -€26,331 | -2.1% |
| Tangible fixed assets | 22/27 | €1,266,817 | €1,240,486 | -€26,331 | -2.1% |
| Land and buildings | 22 | €1,266,817 | €1,226,126 | -€40,691 | -3.2% |
| Assets under construction and advance payments | 27 | - | €14,360 | +€14,360 | |
| Current assets | 29/58 | €46,073 | €43,500 | -€2,573 | -5.6% |
| Amounts receivable within one year | 40/41 | €4,000 | €4,167 | +€167 | +4.2% |
| Other amounts receivable | 41 | €4,000 | €4,167 | +€167 | +4.2% |
| Current investments | 50/53 | €8,490 | €8,490 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €30,306 | €27,430 | -€2,876 | -9.5% |
| Deferred charges and accrued income | 490/1 | €3,277 | €3,413 | +€136 | +4.2% |
| Total equity and liabilities | 10/49 | €1,312,890 | €1,283,986 | -€28,904 | -2.2% |
| Equity | 10/15 | €266,566 | €267,005 | +€439 | +0.2% |
| 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 | €186,450 | €186,450 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,700 | €28,700 | = | 0.0% |
| Legal reserve | 130 | €28,700 | €28,700 | = | 0.0% |
| Distributable reserves | 133 | €157,750 | €157,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,116 | €18,555 | +€439 | +2.4% |
| Amounts payable | 17/49 | €1,046,324 | €1,016,981 | -€29,343 | -2.8% |
| Amounts payable after more than one year | 17 | €538,992 | €487,943 | -€51,049 | -9.5% |
| Financial debts | 170/4 | €538,992 | €487,943 | -€51,049 | -9.5% |
| Amounts payable within one year | 42/48 | €507,332 | €529,038 | +€21,706 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €49,852 | €51,049 | +€1,197 | +2.4% |
| Trade debts | 44 | - | €2,721 | +€2,721 | |
| Suppliers | 440/4 | - | €2,721 | +€2,721 | |
| Taxes, remuneration and social security | 45 | €8,728 | €150 | -€8,578 | -98.3% |
| Taxes | 450/3 | €8,728 | €150 | -€8,578 | -98.3% |
| Other amounts payable | 47/48 | €448,752 | €475,118 | +€26,366 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,250 | €42,485 | +€7,235 | +20.5% |
| Other operating charges | 640/8 | €22,270 | €23,729 | +€1,459 | +6.6% |
| Gross operating margin | 9900 | €60,576 | €79,755 | +€19,179 | +31.7% |
| Operating profit (loss) | 9901 | €3,056 | €13,541 | +€10,485 | +343% |
| Financial income | 75/76B | €905 | €900 | -€5 | -0.6% |
| Recurring financial income | 75 | €905 | €900 | -€5 | -0.6% |
| Financial charges | 65/66B | €8,561 | €13,886 | +€5,325 | +62.2% |
| Recurring financial charges | 65 | €8,561 | €13,886 | +€5,325 | +62.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,600 | €555 | +€5,155 | |
| Income taxes | 67/77 | €295 | €116 | -€179 | -60.7% |
| Profit (loss) for the period | 9904 | -€4,895 | €439 | +€5,334 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,895 | €439 | +€5,334 |
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 15 October 2026 via checked.be.