IMMO-VAUX: 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-VAUX
Largest movements
- Receivables within one year +€107,609
up €107,609 (+94.2%), from €114,239 to €221,848
- Cash -€15,782
down €15,782 (-8.8%), from €179,208 to €163,426
mainly Receivables within one year (-€107,609) and Accrued charges and deferred income (-€10,436)
- Tangible fixed assets -€13,907
down €13,907 (-6.9%), from €200,372 to €186,465
- Reserves +€88,830
up €88,830 (+15.4%), from €577,143 to €665,973
of which Distributable reserves: +€90,705
- Accrued charges and deferred income -€10,436
down €10,436 (-7.4%), from €140,989 to €130,554
- Gross operating margin -€67,728
down €67,728 (-33.9%), from €199,775 to €132,047
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 | €873,819 | €951,739 | +€77,919 | +8.9% |
| Fixed assets | 21/28 | €200,372 | €186,465 | -€13,907 | -6.9% |
| Tangible fixed assets | 22/27 | €200,372 | €186,465 | -€13,907 | -6.9% |
| Land and buildings | 22 | €200,372 | €186,465 | -€13,907 | -6.9% |
| Current assets | 29/58 | €673,447 | €765,274 | +€91,826 | +13.6% |
| Amounts receivable after more than one year | 29 | €380,000 | €380,000 | = | 0.0% |
| Other amounts receivable | 291 | €380,000 | €380,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €114,239 | €221,848 | +€107,609 | +94.2% |
| Other amounts receivable | 41 | €114,239 | €221,848 | +€107,609 | +94.2% |
| Cash at bank and in hand | 54/58 | €179,208 | €163,426 | -€15,782 | -8.8% |
| Total equity and liabilities | 10/49 | €873,819 | €951,739 | +€77,919 | +8.9% |
| Equity | 10/15 | €595,693 | €684,523 | +€88,830 | +14.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €577,143 | €665,973 | +€88,830 | +15.4% |
| Tax-exempt reserves | 132 | €400,608 | €398,733 | -€1,875 | -0.5% |
| Distributable reserves | 133 | €176,535 | €267,240 | +€90,705 | +51.4% |
| Provisions and deferred taxes | 16 | €119,503 | €118,878 | -€625 | -0.5% |
| Deferred taxes | 168 | €119,503 | €118,878 | -€625 | -0.5% |
| Amounts payable | 17/49 | €158,624 | €148,338 | -€10,286 | -6.5% |
| Amounts payable within one year | 42/48 | €17,634 | €17,784 | +€150 | +0.9% |
| Trade debts | 44 | €12,271 | €11,000 | -€1,271 | -10.4% |
| Suppliers | 440/4 | €12,271 | €11,000 | -€1,271 | -10.4% |
| Taxes, remuneration and social security | 45 | €5,364 | €6,784 | +€1,420 | +26.5% |
| Taxes | 450/3 | €5,364 | €6,784 | +€1,420 | +26.5% |
| Accrued charges and deferred income | 492/3 | €140,989 | €130,554 | -€10,436 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,907 | €13,907 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €630 | +€242 | +62.5% |
| Gross operating margin | 9900 | €199,775 | €132,047 | -€67,728 | -33.9% |
| Operating profit (loss) | 9901 | €185,481 | €117,510 | -€67,971 | -36.6% |
| Financial income | 75/76B | - | €1,271 | +€1,271 | |
| Recurring financial income | 75 | - | €1,271 | +€1,271 | |
| Financial charges | 65/66B | €135 | €155 | +€20 | +15.1% |
| Recurring financial charges | 65 | €135 | €155 | +€20 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | €185,346 | €118,626 | -€66,720 | -36.0% |
| Transfer from deferred taxes | 780 | - | €625 | +€625 | |
| Transfer to deferred taxes | 680 | €17,861 | - | -€17,861 | |
| Income taxes | 67/77 | €29,264 | €30,420 | +€1,157 | +4.0% |
| Profit (loss) for the period | 9904 | €138,221 | €88,830 | -€49,390 | -35.7% |
| Transfer from tax-exempt reserves | 789 | - | €1,875 | +€1,875 | |
| Transfer to tax-exempt reserves | 689 | €53,584 | - | -€53,584 | |
| Profit (loss) for the period to be appropriated | 9905 | €84,637 | €90,705 | +€6,068 | +7.2% |
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 17 October 2026 via checked.be.