Immo VAVA: what changed
Two fiscal 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 VAVA
Largest movements
- Cash +€509,821
up €509,821 (+190.2%), from €268,047 to €777,869
mainly Debts after one year (+€871,474) and Depreciation (+€158,721)
- Tangible fixed assets +€398,290
up €398,290 (+24.6%), from €1.6m to €2.0m
of which Land and buildings: +€429,151
- Receivables within one year +€63,271
up €63,271 (+984.5%), from €6,427 to €69,697
of which Trade receivables: +€42,625
- Debts after one year +€871,474
new in 2025: €871,474
of which Financial debts: +€468,632
- Reserves +€59,565
up €59,565 (+3.8%), from €1.6m to €1.6m
- Depreciation -€40,636
down €40,636 (-20.4%), from €199,356 to €158,721
- Other operating charges +€24,920
up €24,920 (+375.4%), from €6,638 to €31,557
- Financial charges +€22,700
up €22,700 (+7670.8%), from €296 to €22,996
- Gross operating margin -€5,570
down €5,570 (-1.9%), from €299,071 to €293,501
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 | €1,890,461 | €2,861,843 | +€971,382 | +51.4% |
| Fixed assets | 21/28 | €1,615,987 | €2,014,277 | +€398,290 | +24.6% |
| Tangible fixed assets | 22/27 | €1,615,987 | €2,014,277 | +€398,290 | +24.6% |
| Land and buildings | 22 | €1,563,010 | €1,992,161 | +€429,151 | +27.5% |
| Furniture and vehicles | 24 | - | €3,155 | +€3,155 | |
| Other tangible fixed assets | 26 | €52,977 | €18,960 | -€34,017 | -64.2% |
| Current assets | 29/58 | €274,474 | €847,566 | +€573,092 | +208.8% |
| Amounts receivable within one year | 40/41 | €6,427 | €69,697 | +€63,271 | +984.5% |
| Trade receivables | 40 | - | €42,625 | +€42,625 | |
| Other amounts receivable | 41 | €6,427 | €27,072 | +€20,646 | +321.3% |
| Cash at bank and in hand | 54/58 | €268,047 | €777,869 | +€509,821 | +190.2% |
| Total equity and liabilities | 10/49 | €1,890,461 | €2,861,843 | +€971,382 | +51.4% |
| Equity | 10/15 | €1,884,551 | €1,944,117 | +€59,565 | +3.2% |
| Contributions | 10/11 | €297,007 | €297,007 | = | 0.0% |
| Reserves | 13 | €1,587,544 | €1,647,109 | +€59,565 | +3.8% |
| Distributable reserves | 133 | €1,587,544 | €1,647,109 | +€59,565 | +3.8% |
| Amounts payable | 17/49 | €5,910 | €917,726 | +€911,816 | +15428.6% |
| Amounts payable after more than one year | 17 | - | €871,474 | +€871,474 | |
| Financial debts | 170/4 | - | €468,632 | +€468,632 | |
| Other amounts payable | 178/9 | - | €402,842 | +€402,842 | |
| Amounts payable within one year | 42/48 | €5,910 | €46,252 | +€40,342 | +682.6% |
| Current portion of amounts payable after more than one year | 42 | - | €26,954 | +€26,954 | |
| Trade debts | 44 | €5,910 | €15,733 | +€9,823 | +166.2% |
| Suppliers | 440/4 | €5,910 | €15,733 | +€9,823 | +166.2% |
| Taxes, remuneration and social security | 45 | - | €3,566 | +€3,566 | |
| Taxes | 450/3 | - | €3,566 | +€3,566 | |
| Non-recurring operating income | 76A | - | €4,455 | +€4,455 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199,356 | €158,721 | -€40,636 | -20.4% |
| Other operating charges | 640/8 | €6,638 | €31,557 | +€24,920 | +375.4% |
| Gross operating margin | 9900 | €299,071 | €293,501 | -€5,570 | -1.9% |
| Operating profit (loss) | 9901 | €93,077 | €103,223 | +€10,146 | +10.9% |
| Financial charges | 65/66B | €296 | €22,996 | +€22,700 | +7670.8% |
| Recurring financial charges | 65 | €296 | €22,996 | +€22,700 | +7670.8% |
| Profit (loss) for the period before taxes | 9903 | €92,781 | €80,227 | -€12,554 | -13.5% |
| Income taxes | 67/77 | €23,573 | €20,662 | -€2,912 | -12.4% |
| Profit (loss) for the period | 9904 | €69,208 | €59,565 | -€9,642 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €69,208 | €59,565 | -€9,642 | -13.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.