IMMO VANGEEL: what changed
What changed
IMMO VANGEEL
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
-€31,440
2024 · -€151,800+€120,360
Equity
€12.1m
2024 · €12.3m-€210,033
Cash
€717,712
2024 · €1.2m-€437,613
Balance sheet total
€12.4m
2024 · €12.6m-€138,767
Largest movements
Assets
- Current investments +€834,096
up €834,096 (+16.7%), from €5.0m to €5.8m
- Cash -€437,613
down €437,613 (-37.9%), from €1.2m to €717,712
mainly Current investments (-€834,096) and Contributions, distributions and other (-€178,593)
- Tangible fixed assets -€301,140
down €301,140 (-5.7%), from €5.2m to €4.9m
Equity and liabilities
- Other debts +€211,428
up €211,428 (+527%), from €40,092 to €251,520
- Reserves -€210,033
down €210,033 (-6.1%), from €3.5m to €3.3m
of which Distributable reserves: -€210,033
Income statement
- Gross operating margin +€70,306
up €70,306 (+24.0%), from €293,379 to €363,685
- Depreciation -€29,654
down €29,654 (-5.5%), from €538,381 to €508,728
- Financial charges -€21,410
down €21,410 (-82.6%), from €25,917 to €4,508
- Financial income -€7,068
down €7,068 (-4.8%), from €147,325 to €140,257
of which Financial income: -€10,248
- Other operating charges -€6,058
down €6,058 (-21.5%), from €28,205 to €22,146
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€151,800
Gross operating margin
+€70,306
Depreciation
+€29,654
Other operating charges
+€6,058
Financial income
-€7,068
Financial charges
+€21,410
Result 2025
-€31,440
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€743,180
Investment
-€942,448
Financing
-€238,344
Cash 2024
€1.2m
From operations (derived)
+€743,180
Net result for the year
-€31,440
Depreciation
+€508,728
Stocks and contracts
+€13
Receivables within one year
+€89,062
Deferred charges and accrued income
+€45,799
Trade debts
-€59,275
Tax, wage and social debts
+€6,728
Other debts
+€211,428
Accrued charges and deferred income
-€27,864
Investment (derived)
-€942,448
Investment in fixed assets (net)
-€108,353
Current investments
-€834,096
Financing
-€238,344
Debts after one year
-€29,211
Current portion of long-term debt
-€30,540
Contributions, distributions and other
-€178,593
Cash 2025
€717,712
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,559,943 | €12,421,176 | -€138,767 | -1.1% |
| Fixed assets | 21/28 | €6,011,693 | €5,611,318 | -€400,375 | -6.7% |
| Intangible fixed assets | 21 | €756,559 | €662,114 | -€94,444 | -12.5% |
| Tangible fixed assets | 22/27 | €5,249,994 | €4,948,853 | -€301,140 | -5.7% |
| Land and buildings | 22 | €4,487,965 | €4,339,891 | -€148,074 | -3.3% |
| Plant, machinery and equipment | 23 | €542,057 | €463,185 | -€78,871 | -14.6% |
| Furniture and vehicles | 24 | €122,600 | €79,445 | -€43,155 | -35.2% |
| Leasing and similar rights | 25 | €97,372 | €66,332 | -€31,040 | -31.9% |
| Financial fixed assets | 28 | €5,141 | €350 | -€4,791 | -93.2% |
| Current assets | 29/58 | €6,548,250 | €6,809,858 | +€261,608 | +4.0% |
| Stocks and contracts in progress | 3 | €79,983 | €79,970 | -€13 | 0.0% |
| Stocks | 30/36 | €79,983 | €79,970 | -€13 | 0.0% |
| Amounts receivable within one year | 40/41 | €245,417 | €156,354 | -€89,062 | -36.3% |
| Trade receivables | 40 | €208,726 | €118,774 | -€89,952 | -43.1% |
| Other amounts receivable | 41 | €36,691 | €37,581 | +€890 | +2.4% |
| Current investments | 50/53 | €5,000,000 | €5,834,096 | +€834,096 | +16.7% |
| Cash at bank and in hand | 54/58 | €1,155,326 | €717,712 | -€437,613 | -37.9% |
| Deferred charges and accrued income | 490/1 | €67,525 | €21,726 | -€45,799 | -67.8% |
| Total equity and liabilities | 10/49 | €12,559,943 | €12,421,176 | -€138,767 | -1.1% |
| Equity | 10/15 | €12,281,192 | €12,071,159 | -€210,033 | -1.7% |
| Contributions | 10/11 | €8,661,500 | €8,661,500 | = | 0.0% |
| Capital | 10 | €8,661,500 | €8,661,500 | = | 0.0% |
| Issued capital | 100 | €8,661,500 | €8,661,500 | = | 0.0% |
| Revaluation surpluses | 12 | €159,536 | €159,536 | = | 0.0% |
| Reserves | 13 | €3,460,156 | €3,250,123 | -€210,033 | -6.1% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,984,574 | €1,984,574 | = | 0.0% |
| Distributable reserves | 133 | €1,469,431 | €1,259,399 | -€210,033 | -14.3% |
| Amounts payable | 17/49 | €278,751 | €350,016 | +€71,266 | +25.6% |
| Amounts payable after more than one year | 17 | €61,985 | €32,774 | -€29,211 | -47.1% |
| Financial debts | 170/4 | €61,985 | €32,774 | -€29,211 | -47.1% |
| Amounts payable within one year | 42/48 | €179,754 | €308,094 | +€128,340 | +71.4% |
| Current portion of amounts payable after more than one year | 42 | €59,751 | €29,211 | -€30,540 | -51.1% |
| Trade debts | 44 | €74,030 | €14,754 | -€59,275 | -80.1% |
| Suppliers | 440/4 | €74,030 | €14,754 | -€59,275 | -80.1% |
| Taxes, remuneration and social security | 45 | €5,881 | €12,609 | +€6,728 | +114% |
| Taxes | 450/3 | €5,881 | €5,584 | -€298 | -5.1% |
| Remuneration and social security | 454/9 | - | €7,026 | +€7,026 | |
| Other amounts payable | 47/48 | €40,092 | €251,520 | +€211,428 | +527% |
| Accrued charges and deferred income | 492/3 | €37,012 | €9,148 | -€27,864 | -75.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €538,381 | €508,728 | -€29,654 | -5.5% |
| Other operating charges | 640/8 | €28,205 | €22,146 | -€6,058 | -21.5% |
| Gross operating margin | 9900 | €293,379 | €363,685 | +€70,306 | +24.0% |
| Operating profit (loss) | 9901 | -€273,207 | -€167,189 | +€106,018 | +38.8% |
| Financial income | 75/76B | €147,325 | €140,257 | -€7,068 | -4.8% |
| Recurring financial income | 75 | €145,704 | €135,456 | -€10,248 | -7.0% |
| Non-recurring financial income | 76B | €1,621 | €4,801 | +€3,181 | +196% |
| Financial charges | 65/66B | €25,917 | €4,508 | -€21,410 | -82.6% |
| Recurring financial charges | 65 | €25,917 | €4,508 | -€21,410 | -82.6% |
| Profit (loss) for the period before taxes | 9903 | -€151,800 | -€31,440 | +€120,360 | +79.3% |
| Profit (loss) for the period | 9904 | -€151,800 | -€31,440 | +€120,360 | +79.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€151,800 | -€31,440 | +€120,360 | +79.3% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.