IMMO VANDERBRUGGHEN: 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 VANDERBRUGGHEN
Largest movements
- Receivables within one year -€87,979
down €87,979 (-77.4%), from €113,660 to €25,681
of which Trade receivables: -€88,360
- Tangible fixed assets -€44,409
down €44,409 (-7.3%), from €605,643 to €561,234
of which Land and buildings: -€33,182
- Cash -€34,145
down €34,145 (-53.0%), from €64,367 to €30,221
mainly Contributions, distributions and other (-€127,000) and Other debts (-€43,856)
- Current investments +€27,000
up €27,000 (+13.0%), from €207,000 to €234,000
- Reserves -€56,890
down €56,890 (-11.5%), from €492,649 to €435,759
- Other debts -€43,856
down €43,856 (-16.8%), from €260,598 to €216,742
- Debts after one year -€18,952
down €18,952 (-10.9%), from €173,570 to €154,617
- Depreciation -€20,195
down €20,195 (-31.3%), from €64,603 to €44,409
- Financial income +€11,275
up €11,275 (+698%), from €1,616 to €12,891
- Taxes +€11,247
up €11,247 (+61.0%), from €18,424 to €29,671
- Gross operating margin +€8,772
up €8,772 (+5.8%), from €151,893 to €160,665
- Financial charges -€7,325
down €7,325 (-28.2%), from €25,995 to €18,670
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 | €1,000,868 | €861,895 | -€138,972 | -13.9% |
| Fixed assets | 21/28 | €605,643 | €561,234 | -€44,409 | -7.3% |
| Tangible fixed assets | 22/27 | €605,643 | €561,234 | -€44,409 | -7.3% |
| Land and buildings | 22 | €574,283 | €541,101 | -€33,182 | -5.8% |
| Plant, machinery and equipment | 23 | €8,521 | €5,739 | -€2,782 | -32.6% |
| Furniture and vehicles | 24 | €22,820 | €14,395 | -€8,425 | -36.9% |
| Other tangible fixed assets | 26 | €20 | - | -€20 | |
| Current assets | 29/58 | €395,225 | €300,661 | -€94,564 | -23.9% |
| Amounts receivable within one year | 40/41 | €113,660 | €25,681 | -€87,979 | -77.4% |
| Trade receivables | 40 | €111,691 | €23,331 | -€88,360 | -79.1% |
| Other amounts receivable | 41 | €1,969 | €2,350 | +€381 | +19.3% |
| Current investments | 50/53 | €207,000 | €234,000 | +€27,000 | +13.0% |
| Cash at bank and in hand | 54/58 | €64,367 | €30,221 | -€34,145 | -53.0% |
| Deferred charges and accrued income | 490/1 | €10,198 | €10,759 | +€561 | +5.5% |
| Total equity and liabilities | 10/49 | €1,000,868 | €861,895 | -€138,972 | -13.9% |
| Equity | 10/15 | €511,373 | €454,484 | -€56,889 | -11.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €492,649 | €435,759 | -€56,890 | -11.5% |
| Distributable reserves | 133 | €492,649 | €435,759 | -€56,890 | -11.5% |
| Profit (loss) carried forward | 14 | €132 | €133 | +€1 | +1.0% |
| Amounts payable | 17/49 | €489,495 | €407,411 | -€82,084 | -16.8% |
| Amounts payable after more than one year | 17 | €173,570 | €154,617 | -€18,952 | -10.9% |
| Financial debts | 170/4 | €173,570 | €154,617 | -€18,952 | -10.9% |
| Amounts payable within one year | 42/48 | €294,488 | €240,392 | -€54,097 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €28,225 | €18,952 | -€9,273 | -32.9% |
| Trade debts | 44 | €841 | €3,303 | +€2,462 | +293% |
| Suppliers | 440/4 | €841 | €3,303 | +€2,462 | +293% |
| Taxes, remuneration and social security | 45 | €4,824 | €1,394 | -€3,430 | -71.1% |
| Taxes | 450/3 | €4,824 | €1,394 | -€3,430 | -71.1% |
| Other amounts payable | 47/48 | €260,598 | €216,742 | -€43,856 | -16.8% |
| Accrued charges and deferred income | 492/3 | €21,437 | €12,402 | -€9,035 | -42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,603 | €44,409 | -€20,195 | -31.3% |
| Other operating charges | 640/8 | €6,246 | €10,696 | +€4,449 | +71.2% |
| Gross operating margin | 9900 | €151,893 | €160,665 | +€8,772 | +5.8% |
| Operating profit (loss) | 9901 | €81,043 | €105,561 | +€24,518 | +30.3% |
| Financial income | 75/76B | €1,616 | €12,891 | +€11,275 | +698% |
| Recurring financial income | 75 | €1,616 | €12,891 | +€11,275 | +698% |
| Financial charges | 65/66B | €25,995 | €18,670 | -€7,325 | -28.2% |
| Recurring financial charges | 65 | €25,995 | €18,670 | -€7,325 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €56,664 | €99,782 | +€43,118 | +76.1% |
| Income taxes | 67/77 | €18,424 | €29,671 | +€11,247 | +61.0% |
| Profit (loss) for the period | 9904 | €38,240 | €70,111 | +€31,872 | +83.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,240 | €70,111 | +€31,872 | +83.3% |
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 17 October 2026 via checked.be.