IMMO VANDERSANDEN: 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 VANDERSANDEN
Largest movements
- Cash -€172,317
down €172,317 (-76.4%), from €225,624 to €53,307
mainly Other debts (-€199,710) and Investment in fixed assets (net) (-€60,928)
- Receivables after one year -€90,000
down €90,000 (-58.3%), from €154,428 to €64,428
- Tangible fixed assets +€39,291
up €39,291 (+9.8%), from €399,309 to €438,600
of which Land and buildings: +€37,160
- Other debts -€199,710
no longer reported in 2025 (was €199,710)
- Reserves -€29,436
down €29,436 (-8.0%), from €366,957 to €337,521
of which Distributable reserves: -€29,436
- Gross operating margin -€17,357
down €17,357, from €12,311 to -€5,047
- Depreciation +€687
up €687 (+3.3%), from €20,950 to €21,637
- Financial charges -€456
down €456 (-90.5%), from €504 to €48
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 | €871,452 | €648,546 | -€222,906 | -25.6% |
| Fixed assets | 21/28 | €400,240 | €439,531 | +€39,291 | +9.8% |
| Tangible fixed assets | 22/27 | €399,309 | €438,600 | +€39,291 | +9.8% |
| Land and buildings | 22 | €395,122 | €432,282 | +€37,160 | +9.4% |
| Plant, machinery and equipment | 23 | €4,187 | €6,318 | +€2,131 | +50.9% |
| Financial fixed assets | 28 | €931 | €931 | = | 0.0% |
| Current assets | 29/58 | €471,212 | €209,015 | -€262,196 | -55.6% |
| Amounts receivable after more than one year | 29 | €154,428 | €64,428 | -€90,000 | -58.3% |
| Trade receivables | 290 | €154,428 | €64,428 | -€90,000 | -58.3% |
| Amounts receivable within one year | 40/41 | €90,000 | €90,066 | +€66 | +0.1% |
| Trade receivables | 40 | €90,000 | €90,000 | = | 0.0% |
| Other amounts receivable | 41 | €0 | €66 | +€66 | |
| Cash at bank and in hand | 54/58 | €225,624 | €53,307 | -€172,317 | -76.4% |
| Deferred charges and accrued income | 490/1 | €1,159 | €1,214 | +€54 | +4.7% |
| Total equity and liabilities | 10/49 | €871,452 | €648,546 | -€222,906 | -25.6% |
| Equity | 10/15 | €670,482 | €641,046 | -€29,436 | -4.4% |
| Contributions | 10/11 | €303,526 | €303,526 | = | 0.0% |
| Reserves | 13 | €366,957 | €337,521 | -€29,436 | -8.0% |
| Non-distributable reserves | 130/1 | €29,865 | €29,865 | = | 0.0% |
| Reserves not available under the articles | 1311 | €29,865 | €29,865 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,442 | €33,442 | = | 0.0% |
| Distributable reserves | 133 | €303,650 | €274,214 | -€29,436 | -9.7% |
| Amounts payable | 17/49 | €200,970 | €7,500 | -€193,470 | -96.3% |
| Amounts payable within one year | 42/48 | €200,970 | - | -€200,970 | |
| Current portion of amounts payable after more than one year | 42 | €1,260 | - | -€1,260 | |
| Other amounts payable | 47/48 | €199,710 | - | -€199,710 | |
| Accrued charges and deferred income | 492/3 | - | €7,500 | +€7,500 | |
| Non-recurring operating income | 76A | €14,100 | - | -€14,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,950 | €21,637 | +€687 | +3.3% |
| Other operating charges | 640/8 | €2,626 | €2,704 | +€77 | +2.9% |
| Gross operating margin | 9900 | €12,311 | -€5,047 | -€17,357 | |
| Operating profit (loss) | 9901 | -€11,266 | -€29,388 | -€18,122 | -160.9% |
| Financial income | 75/76B | €8 | €0 | -€8 | -99.2% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -99.2% |
| Financial charges | 65/66B | €504 | €48 | -€456 | -90.5% |
| Recurring financial charges | 65 | €504 | €48 | -€456 | -90.5% |
| Profit (loss) for the period before taxes | 9903 | -€11,762 | -€29,436 | -€17,674 | -150.3% |
| Profit (loss) for the period | 9904 | -€11,762 | -€29,436 | -€17,674 | -150.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,762 | -€29,436 | -€17,674 | -150.3% |
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 12 October 2026 via checked.be.