Immo VDB: 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 VDB
Largest movements
- Tangible fixed assets +€218,630
up €218,630 (+28.1%), from €778,450 to €997,080
- Cash -€128,995
down €128,995 (-87.6%), from €147,277 to €18,282
mainly Investment in fixed assets (net) (-€242,903) and Receivables within one year (-€2,148)
- Other debts +€70,955
new in 2025: €70,955
- Reserves +€18,521
up €18,521 (+62.1%), from €29,817 to €48,338
- Other operating charges -€3,736
down €3,736 (-39.1%), from €9,545 to €5,810
- Depreciation +€3,523
up €3,523 (+17.0%), from €20,750 to €24,273
- Gross operating margin -€3,071
down €3,071 (-5.5%), from €56,004 to €52,933
- Taxes +€1,852
new in 2025: €1,852
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 | €927,227 | €1,019,010 | +€91,783 | +9.9% |
| Fixed assets | 21/28 | €778,450 | €997,080 | +€218,630 | +28.1% |
| Tangible fixed assets | 22/27 | €778,450 | €997,080 | +€218,630 | +28.1% |
| Land and buildings | 22 | €778,450 | €997,080 | +€218,630 | +28.1% |
| Current assets | 29/58 | €148,777 | €21,930 | -€126,848 | -85.3% |
| Amounts receivable within one year | 40/41 | €1,500 | €3,648 | +€2,148 | +143.2% |
| Other amounts receivable | 41 | €1,500 | €3,648 | +€2,148 | +143.2% |
| Cash at bank and in hand | 54/58 | €147,277 | €18,282 | -€128,995 | -87.6% |
| Total equity and liabilities | 10/49 | €927,227 | €1,019,010 | +€91,783 | +9.9% |
| Equity | 10/15 | €921,267 | €942,221 | +€20,953 | +2.3% |
| Contributions | 10/11 | €893,883 | €893,883 | = | 0.0% |
| Reserves | 13 | €29,817 | €48,338 | +€18,521 | +62.1% |
| Distributable reserves | 133 | €29,817 | €48,338 | +€18,521 | +62.1% |
| Profit (loss) carried forward | 14 | -€2,433 | €0 | +€2,433 | |
| Amounts payable | 17/49 | €5,960 | €76,789 | +€70,829 | +1188.4% |
| Amounts payable within one year | 42/48 | €5,960 | €76,789 | +€70,829 | +1188.4% |
| Trade debts | 44 | €5,960 | €5,834 | -€125 | -2.1% |
| Suppliers | 440/4 | €5,960 | €5,834 | -€125 | -2.1% |
| Other amounts payable | 47/48 | - | €70,955 | +€70,955 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,750 | €24,273 | +€3,523 | +17.0% |
| Other operating charges | 640/8 | €9,545 | €5,810 | -€3,736 | -39.1% |
| Gross operating margin | 9900 | €56,004 | €52,933 | -€3,071 | -5.5% |
| Operating profit (loss) | 9901 | €25,708 | €22,850 | -€2,858 | -11.1% |
| Financial income | 75/76B | - | €125 | +€125 | |
| Recurring financial income | 75 | - | €125 | +€125 | |
| Financial charges | 65/66B | €153 | €170 | +€17 | +11.1% |
| Recurring financial charges | 65 | €153 | €170 | +€17 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €25,555 | €22,805 | -€2,750 | -10.8% |
| Income taxes | 67/77 | - | €1,852 | +€1,852 | |
| Profit (loss) for the period | 9904 | €25,555 | €20,953 | -€4,602 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,555 | €20,953 | -€4,602 | -18.0% |
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 4 October 2026 via checked.be.