IMMO VANDORPE: 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 VANDORPE
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1,360
2024 · €7,516-€6,156
Equity
€604,136
2024 · €602,776+€1,360
Cash
€367
2024 · €70+€297
Balance sheet total
€905,661
2024 · €926,343-€20,683
Largest movements
Assets
- Tangible fixed assets -€23,800
down €23,800 (-6.6%), from €359,536 to €335,736
of which Land and buildings: -€23,490
Equity and liabilities
- Debts after one year -€22,946
down €22,946 (-10.8%), from €212,399 to €189,452
Income statement
- Taxes +€7,094
up €7,094 (+7,638%), from €93 to €7,187
- Financial charges -€5,388
down €5,388 (-42.6%), from €12,637 to €7,249
of which Non-recurring financial charges: -€4,134
- Gross operating margin -€4,367
down €4,367 (-10.5%), from €41,670 to €37,303
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
€7,516
Gross operating margin
-€4,367
Other operating charges
-€82
Financial charges
+€5,388
Taxes
-€7,094
Result 2025
€1,360
raises the resultlowers the result
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
+€27,917
Investment
€0
Financing
-€27,620
Cash 2024
€70
From operations (derived)
+€27,917
Net result for the year
+€1,360
Depreciation
+€23,800
Receivables after one year
+€4,700
Receivables within one year
-€7,521
Provisions
-€5,050
Trade debts
-€3,602
Tax, wage and social debts
+€7,187
Other debts
+€7,043
Financing
-€27,620
Debts after one year
-€22,946
Current portion of long-term debt
-€4,674
Cash 2025
€367
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €926,343 | €905,661 | -€20,683 | -2.2% |
| Fixed assets | 21/28 | €859,536 | €835,736 | -€23,800 | -2.8% |
| Tangible fixed assets | 22/27 | €359,536 | €335,736 | -€23,800 | -6.6% |
| Land and buildings | 22 | €356,917 | €333,427 | -€23,490 | -6.6% |
| Plant, machinery and equipment | 23 | €2,620 | €2,309 | -€311 | -11.9% |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €66,807 | €69,924 | +€3,118 | +4.7% |
| Amounts receivable after more than one year | 29 | €4,700 | €0 | -€4,700 | -100% |
| Other amounts receivable | 291 | €4,700 | €0 | -€4,700 | -100% |
| Amounts receivable within one year | 40/41 | €62,036 | €69,557 | +€7,521 | +12.1% |
| Other amounts receivable | 41 | €62,036 | €69,557 | +€7,521 | +12.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €70 | €367 | +€297 | +421% |
| Total equity and liabilities | 10/49 | €926,343 | €905,661 | -€20,683 | -2.2% |
| Equity | 10/15 | €602,776 | €604,136 | +€1,360 | +0.2% |
| Contributions | 10/11 | €257,924 | €257,924 | = | 0.0% |
| Capital | 10 | €257,924 | €257,924 | = | 0.0% |
| Issued capital | 100 | €257,924 | €257,924 | = | 0.0% |
| Reserves | 13 | €311,001 | €312,361 | +€1,360 | +0.4% |
| Non-distributable reserves | 130/1 | €454 | €454 | = | 0.0% |
| Legal reserve | 130 | €454 | €454 | = | 0.0% |
| Tax-exempt reserves | 132 | €282,829 | €262,628 | -€20,201 | -7.1% |
| Distributable reserves | 133 | €27,718 | €49,279 | +€21,561 | +77.8% |
| Profit (loss) carried forward | 14 | €33,852 | €33,852 | = | 0.0% |
| Provisions and deferred taxes | 16 | €70,707 | €65,656 | -€5,050 | -7.1% |
| Deferred taxes | 168 | €70,707 | €65,656 | -€5,050 | -7.1% |
| Amounts payable | 17/49 | €252,860 | €235,868 | -€16,992 | -6.7% |
| Amounts payable after more than one year | 17 | €212,399 | €189,452 | -€22,946 | -10.8% |
| Financial debts | 170/4 | €212,399 | €189,452 | -€22,946 | -10.8% |
| Amounts payable within one year | 42/48 | €40,461 | €46,416 | +€5,954 | +14.7% |
| Current portion of amounts payable after more than one year | 42 | €27,620 | €22,947 | -€4,674 | -16.9% |
| Trade debts | 44 | €7,021 | €3,419 | -€3,602 | -51.3% |
| Suppliers | 440/4 | €7,021 | €3,419 | -€3,602 | -51.3% |
| Taxes, remuneration and social security | 45 | - | €7,187 | +€7,187 | |
| Taxes | 450/3 | - | €7,187 | +€7,187 | |
| Other amounts payable | 47/48 | €5,820 | €12,862 | +€7,043 | +121% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,800 | €23,800 | = | 0.0% |
| Other operating charges | 640/8 | €2,674 | €2,757 | +€82 | +3.1% |
| Gross operating margin | 9900 | €41,670 | €37,303 | -€4,367 | -10.5% |
| Operating profit (loss) | 9901 | €15,195 | €10,746 | -€4,450 | -29.3% |
| Financial charges | 65/66B | €12,637 | €7,249 | -€5,388 | -42.6% |
| Recurring financial charges | 65 | €8,503 | €7,249 | -€1,253 | -14.7% |
| Non-recurring financial charges | 66B | €4,134 | €0 | -€4,134 | -100% |
| Profit (loss) for the period before taxes | 9903 | €2,559 | €3,497 | +€938 | +36.7% |
| Transfer from deferred taxes | 780 | €5,050 | €5,050 | = | 0.0% |
| Income taxes | 67/77 | €93 | €7,187 | +€7,094 | +7,638% |
| Profit (loss) for the period | 9904 | €7,516 | €1,360 | -€6,156 | -81.9% |
| Transfer from tax-exempt reserves | 789 | €20,201 | €20,201 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,718 | €21,561 | -€6,156 | -22.2% |
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 14 October 2026 via checked.be.