IMMO VANDERMEEREN: 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.
What changed
IMMO VANDERMEEREN
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€204,955
2024 · €328,588-€123,632
Equity
€4.6m
2024 · €4.4m+€204,955
Cash
€4,917
2024 · €83,648-€78,731
Balance sheet total
€8.4m
2024 · €8.5m-€129,761
Largest movements
Assets
- Current investments +€100,000
up €100,000 (+66.7%), from €150,000 to €250,000
Equity and liabilities
- Debts after one year -€330,238
down €330,238 (-9.9%), from €3.4m to €3.0m
- Profit (loss) carried forward +€225,297
up €225,297 (+10.7%), from €2.1m to €2.3m
Income statement
- Depreciation +€76,822
up €76,822 (+22.9%), from €335,137 to €411,959
- Taxes +€52,652
up €52,652 (+135%), from €39,140 to €91,792
- Financial charges +€31,560
up €31,560 (+37.7%), from €83,719 to €115,280
- Other operating charges +€22,988
up €22,988 (+36.4%), from €63,099 to €86,087
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.
Result 2024
€328,588
Gross operating margin
-€1,179
Depreciation
-€76,822
Other operating charges
-€22,988
Financial income
+€3,323
Financial charges
-€31,560
Taxes
-€52,652
Deferred taxes and other
+€58,246
Result 2025
€204,955
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€664,734
Investment
-€479,893
Financing
-€263,571
Cash 2024
€83,648
From operations (derived)
+€664,734
Net result for the year
+€204,955
Depreciation
+€411,959
Receivables within one year
+€56,655
Deferred charges and accrued income
+€62,309
Provisions
-€6,781
Trade debts
-€2,062
Tax, wage and social debts
+€7
Accrued charges and deferred income
-€62,309
Investment (derived)
-€479,893
Investment in fixed assets (net)
-€379,893
Current investments
-€100,000
Financing
-€263,571
Debts after one year
-€330,238
Current portion of long-term debt
+€66,667
Cash 2025
€4,917
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,505,129 | €8,375,368 | -€129,761 | -1.5% |
| Fixed assets | 21/28 | €8,142,265 | €8,110,199 | -€32,066 | -0.4% |
| Tangible fixed assets | 22/27 | €8,142,265 | €8,110,199 | -€32,066 | -0.4% |
| Land and buildings | 22 | €7,409,791 | €7,377,725 | -€32,066 | -0.4% |
| Other tangible fixed assets | 26 | €732,474 | €732,474 | = | 0.0% |
| Current assets | 29/58 | €362,864 | €265,169 | -€97,695 | -26.9% |
| Amounts receivable within one year | 40/41 | €61,109 | €4,454 | -€56,655 | -92.7% |
| Other amounts receivable | 41 | €61,109 | €4,454 | -€56,655 | -92.7% |
| Current investments | 50/53 | €150,000 | €250,000 | +€100,000 | +66.7% |
| Cash at bank and in hand | 54/58 | €83,648 | €4,917 | -€78,731 | -94.1% |
| Deferred charges and accrued income | 490/1 | €68,106 | €5,797 | -€62,309 | -91.5% |
| Total equity and liabilities | 10/49 | €8,505,129 | €8,375,368 | -€129,761 | -1.5% |
| Equity | 10/15 | €4,383,389 | €4,588,344 | +€204,955 | +4.7% |
| Contributions | 10/11 | €315,500 | €315,500 | = | 0.0% |
| Capital | 10 | €315,500 | €315,500 | = | 0.0% |
| Issued capital | 100 | €315,500 | €315,500 | = | 0.0% |
| Revaluation surpluses | 12 | €261,107 | €180,817 | -€80,290 | -30.7% |
| Reserves | 13 | €1,709,173 | €1,769,121 | +€59,948 | +3.5% |
| Non-distributable reserves | 130/1 | €31,550 | €31,550 | = | 0.0% |
| Legal reserve | 130 | €31,550 | €31,550 | = | 0.0% |
| Tax-exempt reserves | 132 | €332,934 | €312,592 | -€20,342 | -6.1% |
| Distributable reserves | 133 | €1,344,689 | €1,424,979 | +€80,290 | +6.0% |
| Profit (loss) carried forward | 14 | €2,097,609 | €2,322,907 | +€225,297 | +10.7% |
| Provisions and deferred taxes | 16 | €105,902 | €99,121 | -€6,781 | -6.4% |
| Deferred taxes | 168 | €105,902 | €99,121 | -€6,781 | -6.4% |
| Amounts payable | 17/49 | €4,015,839 | €3,687,903 | -€327,936 | -8.2% |
| Amounts payable after more than one year | 17 | €3,352,571 | €3,022,333 | -€330,238 | -9.9% |
| Financial debts | 170/4 | €3,352,571 | €3,022,333 | -€330,238 | -9.9% |
| Amounts payable within one year | 42/48 | €600,959 | €665,570 | +€64,611 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €598,667 | €665,333 | +€66,667 | +11.1% |
| Trade debts | 44 | €2,062 | - | -€2,062 | |
| Suppliers | 440/4 | €2,062 | - | -€2,062 | |
| Taxes, remuneration and social security | 45 | €230 | €237 | +€7 | +3.0% |
| Taxes | 450/3 | €230 | €237 | +€7 | +3.0% |
| Accrued charges and deferred income | 492/3 | €62,309 | - | -€62,309 | |
| Non-recurring operating income | 76A | €238,176 | - | -€238,176 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €335,137 | €411,959 | +€76,822 | +22.9% |
| Other operating charges | 640/8 | €63,099 | €86,087 | +€22,988 | +36.4% |
| Gross operating margin | 9900 | €900,318 | €899,139 | -€1,179 | -0.1% |
| Operating profit (loss) | 9901 | €502,082 | €401,093 | -€100,989 | -20.1% |
| Financial income | 75/76B | €831 | €4,154 | +€3,323 | +400% |
| Recurring financial income | 75 | €831 | €4,154 | +€3,323 | +400% |
| Financial charges | 65/66B | €83,719 | €115,280 | +€31,560 | +37.7% |
| Recurring financial charges | 65 | €83,719 | €115,280 | +€31,560 | +37.7% |
| Profit (loss) for the period before taxes | 9903 | €419,193 | €289,967 | -€129,226 | -30.8% |
| Transfer from deferred taxes | 780 | €5,122 | €6,781 | +€1,659 | +32.4% |
| Transfer to deferred taxes | 680 | €56,587 | - | -€56,587 | |
| Income taxes | 67/77 | €39,140 | €91,792 | +€52,652 | +135% |
| Profit (loss) for the period | 9904 | €328,588 | €204,955 | -€123,632 | -37.6% |
| Transfer from tax-exempt reserves | 789 | €15,365 | €20,342 | +€4,977 | +32.4% |
| Transfer to tax-exempt reserves | 689 | €169,762 | - | -€169,762 | |
| Profit (loss) for the period to be appropriated | 9905 | €174,190 | €225,297 | +€51,107 | +29.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.