IMMO VANDENBERGHE: 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 VANDENBERGHE
Largest movements
- Current investments -€200,000
down €200,000 (-100%), from €200,000 to €0
- Cash +€138,043
up €138,043 (+122%), from €113,391 to €251,435
mainly Current investments (+€200,000) and Net result for the year (+€5,879)
- Receivables within one year +€10,024
up €10,024 (+22.7%), from €44,178 to €54,202
of which Other amounts receivable: +€10,024
- Tax, wage and social debts -€50,934
down €50,934 (-99.3%), from €51,297 to €364
- Reserves +€5,879
up €5,879 (+2.0%), from €301,124 to €307,003
of which Distributable reserves: +€5,879
- Depreciation +€1,469
up €1,469 (+97.6%), from €1,505 to €2,974
- Financial income -€1,409
down €1,409 (-9.0%), from €15,630 to €14,221
of which Financial income: -€1,409
- Taxes -€1,280
down €1,280 (-28.5%), from €4,495 to €3,215
- Gross operating margin -€836
down €836 (-72.0%), from €1,161 to €325
- Financial charges -€131
down €131 (-73.7%), from €178 to €47
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 | €537,030 | €490,597 | -€46,433 | -8.6% |
| Fixed assets | 21/28 | €45,239 | €47,705 | +€2,467 | +5.5% |
| Tangible fixed assets | 22/27 | €45,239 | €47,705 | +€2,467 | +5.5% |
| Land and buildings | 22 | €34,638 | €38,137 | +€3,499 | +10.1% |
| Plant, machinery and equipment | 23 | €10,145 | €9,302 | -€843 | -8.3% |
| Furniture and vehicles | 24 | €456 | €266 | -€190 | -41.6% |
| Current assets | 29/58 | €491,792 | €442,892 | -€48,900 | -9.9% |
| Amounts receivable after more than one year | 29 | €134,222 | €137,255 | +€3,033 | +2.3% |
| Other amounts receivable | 291 | €134,222 | €137,255 | +€3,033 | +2.3% |
| Amounts receivable within one year | 40/41 | €44,178 | €54,202 | +€10,024 | +22.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €44,178 | €54,202 | +€10,024 | +22.7% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100% |
| Cash at bank and in hand | 54/58 | €113,391 | €251,435 | +€138,043 | +122% |
| Total equity and liabilities | 10/49 | €537,030 | €490,597 | -€46,433 | -8.6% |
| Equity | 10/15 | €483,097 | €488,976 | +€5,879 | +1.2% |
| Contributions | 10/11 | €181,972 | €181,972 | = | 0.0% |
| Reserves | 13 | €301,124 | €307,003 | +€5,879 | +2.0% |
| Non-distributable reserves | 130/1 | €3,352 | €3,352 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,352 | €3,352 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,331 | €4,331 | = | 0.0% |
| Distributable reserves | 133 | €293,441 | €299,320 | +€5,879 | +2.0% |
| Amounts payable | 17/49 | €53,934 | €1,622 | -€52,312 | -97.0% |
| Amounts payable within one year | 42/48 | €53,934 | €1,622 | -€52,312 | -97.0% |
| Trade debts | 44 | €2,636 | €1,258 | -€1,378 | -52.3% |
| Suppliers | 440/4 | €2,636 | €1,258 | -€1,378 | -52.3% |
| Taxes, remuneration and social security | 45 | €51,297 | €364 | -€50,934 | -99.3% |
| Taxes | 450/3 | €51,297 | €364 | -€50,934 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,505 | €2,974 | +€1,469 | +97.6% |
| Other operating charges | 640/8 | €2,359 | €2,431 | +€73 | +3.1% |
| Gross operating margin | 9900 | €1,161 | €325 | -€836 | -72.0% |
| Operating profit (loss) | 9901 | -€2,703 | -€5,080 | -€2,377 | -88.0% |
| Financial income | 75/76B | €15,630 | €14,221 | -€1,409 | -9.0% |
| Recurring financial income | 75 | €15,630 | €14,221 | -€1,409 | -9.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €178 | €47 | -€131 | -73.7% |
| Recurring financial charges | 65 | €178 | €47 | -€131 | -73.7% |
| Profit (loss) for the period before taxes | 9903 | €12,750 | €9,094 | -€3,656 | -28.7% |
| Income taxes | 67/77 | €4,495 | €3,215 | -€1,280 | -28.5% |
| Profit (loss) for the period | 9904 | €8,254 | €5,879 | -€2,376 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,254 | €5,879 | -€2,376 | -28.8% |
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 23 October 2026 via checked.be.