IMMO VANAL: 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 VANAL
Largest movements
- Tangible fixed assets -€12,012
down €12,012 (-3.3%), from €359,022 to €347,010
of which Land and buildings: -€10,243
- Receivables within one year -€10,560
down €10,560 (-25.2%), from €41,852 to €31,292
- Deferred charges and accrued income -€6,950
no longer reported in 2025 (was €6,950)
- Profit (loss) carried forward -€15,252
down €15,252 (-67.2%), from -€22,680 to -€37,931
- Other debts +€12,175
up €12,175 (+4.6%), from €262,856 to €275,031
- Trade debts -€10,031
down €10,031 (-51.6%), from €19,426 to €9,394
- Debts after one year -€8,260
no longer reported in 2025 (was €8,260)
- Provisions -€6,000
no longer reported in 2025 (was €6,000)
- Financial charges +€7,987
up €7,987 (+66.9%), from €11,933 to €19,920
- Gross operating margin -€7,179
down €7,179 (-27.0%), from €26,587 to €19,408
- Depreciation -€4,115
down €4,115 (-25.5%), from €16,128 to €12,012
- Other operating charges -€949
down €949 (-25.8%), from €3,676 to €2,727
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 | €410,353 | €383,594 | -€26,759 | -6.5% |
| Fixed assets | 21/28 | €359,022 | €347,010 | -€12,012 | -3.3% |
| Tangible fixed assets | 22/27 | €359,022 | €347,010 | -€12,012 | -3.3% |
| Land and buildings | 22 | €352,037 | €341,794 | -€10,243 | -2.9% |
| Plant, machinery and equipment | 23 | €1,651 | €889 | -€762 | -46.1% |
| Furniture and vehicles | 24 | €1,727 | €960 | -€767 | -44.4% |
| Other tangible fixed assets | 26 | €3,608 | €3,367 | -€241 | -6.7% |
| Current assets | 29/58 | €51,331 | €36,584 | -€14,747 | -28.7% |
| Amounts receivable within one year | 40/41 | €41,852 | €31,292 | -€10,560 | -25.2% |
| Other amounts receivable | 41 | €41,852 | €31,292 | -€10,560 | -25.2% |
| Cash at bank and in hand | 54/58 | €2,530 | €5,293 | +€2,763 | +109.2% |
| Deferred charges and accrued income | 490/1 | €6,950 | - | -€6,950 | |
| Total equity and liabilities | 10/49 | €410,353 | €383,594 | -€26,759 | -6.5% |
| Equity | 10/15 | €103,220 | €87,969 | -€15,252 | -14.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €25,900 | €25,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,200 | €2,200 | = | 0.0% |
| Legal reserve | 130 | €2,200 | €2,200 | = | 0.0% |
| Distributable reserves | 133 | €23,700 | €23,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,680 | -€37,931 | -€15,252 | -67.2% |
| Provisions and deferred taxes | 16 | €6,000 | - | -€6,000 | |
| Provisions for liabilities and charges | 160/5 | €6,000 | - | -€6,000 | |
| Pensions and similar obligations | 160 | €6,000 | - | -€6,000 | |
| Amounts payable | 17/49 | €301,133 | €295,625 | -€5,508 | -1.8% |
| Amounts payable after more than one year | 17 | €8,260 | - | -€8,260 | |
| Financial debts | 170/4 | €8,260 | - | -€8,260 | |
| Amounts payable within one year | 42/48 | €292,873 | €295,625 | +€2,752 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €7,652 | €8,260 | +€608 | +7.9% |
| Trade debts | 44 | €19,426 | €9,394 | -€10,031 | -51.6% |
| Suppliers | 440/4 | €19,426 | €9,394 | -€10,031 | -51.6% |
| Taxes, remuneration and social security | 45 | €2,940 | €2,940 | = | 0.0% |
| Taxes | 450/3 | €2,940 | €2,940 | = | 0.0% |
| Other amounts payable | 47/48 | €262,856 | €275,031 | +€12,175 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,128 | €12,012 | -€4,115 | -25.5% |
| Other operating charges | 640/8 | €3,676 | €2,727 | -€949 | -25.8% |
| Non-recurring operating charges | 66A | €396 | - | -€396 | |
| Gross operating margin | 9900 | €26,587 | €19,408 | -€7,179 | -27.0% |
| Operating profit (loss) | 9901 | €6,387 | €4,669 | -€1,719 | -26.9% |
| Financial charges | 65/66B | €11,933 | €19,920 | +€7,987 | +66.9% |
| Recurring financial charges | 65 | €11,933 | €19,920 | +€7,987 | +66.9% |
| Profit (loss) for the period before taxes | 9903 | -€5,546 | -€15,252 | -€9,706 | -175.0% |
| Profit (loss) for the period | 9904 | -€5,546 | -€15,252 | -€9,706 | -175.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,546 | -€15,252 | -€9,706 | -175.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.