Immo VDCMAX: 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 VDCMAX
Largest movements
- Tangible fixed assets -€7,010
down €7,010 (-2.7%), from €259,042 to €252,032
of which Land and buildings: -€5,939
- Debts after one year -€10,821
down €10,821 (-5.3%), from €202,638 to €191,817
of which Financial debts: -€12,523
- Gross operating margin +€4,563
up €4,563 (+15.6%), from €29,262 to €33,826
- Taxes +€1,780
up €1,780 (+48.4%), from €3,679 to €5,459
- Other operating charges -€424
down €424 (-22.1%), from €1,921 to €1,497
- Financial charges -€348
down €348 (-4.1%), from €8,501 to €8,153
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 | €279,238 | €273,861 | -€5,377 | -1.9% |
| Fixed assets | 21/28 | €259,042 | €252,032 | -€7,010 | -2.7% |
| Tangible fixed assets | 22/27 | €259,042 | €252,032 | -€7,010 | -2.7% |
| Land and buildings | 22 | €256,582 | €250,642 | -€5,939 | -2.3% |
| Plant, machinery and equipment | 23 | €2,460 | €1,390 | -€1,070 | -43.5% |
| Current assets | 29/58 | €20,196 | €21,828 | +€1,633 | +8.1% |
| Amounts receivable within one year | 40/41 | €969 | €148 | -€821 | -84.7% |
| Other amounts receivable | 41 | €969 | €148 | -€821 | -84.7% |
| Cash at bank and in hand | 54/58 | €19,227 | €21,680 | +€2,453 | +12.8% |
| Total equity and liabilities | 10/49 | €279,238 | €273,861 | -€5,377 | -1.9% |
| Equity | 10/15 | €57,719 | €60,427 | +€2,708 | +4.7% |
| Contributions | 10/11 | €7,100 | €7,100 | = | 0.0% |
| Reserves | 13 | €50,360 | €52,860 | +€2,500 | +5.0% |
| Distributable reserves | 133 | €50,360 | €52,860 | +€2,500 | +5.0% |
| Profit (loss) carried forward | 14 | €259 | €467 | +€208 | +80.3% |
| Amounts payable | 17/49 | €221,519 | €213,434 | -€8,085 | -3.6% |
| Amounts payable after more than one year | 17 | €202,638 | €191,817 | -€10,821 | -5.3% |
| Financial debts | 170/4 | €116,863 | €104,341 | -€12,523 | -10.7% |
| Other amounts payable | 178/9 | €85,774 | €87,476 | +€1,702 | +2.0% |
| Amounts payable within one year | 42/48 | €17,479 | €18,907 | +€1,428 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €12,000 | €12,523 | +€523 | +4.4% |
| Financial debts | 43 | €4,581 | €4,674 | +€93 | +2.0% |
| Credit institutions | 430/8 | €4,581 | €4,674 | +€93 | +2.0% |
| Trade debts | 44 | €898 | €750 | -€148 | -16.5% |
| Suppliers | 440/4 | €898 | €750 | -€148 | -16.5% |
| Taxes, remuneration and social security | 45 | - | €959 | +€959 | |
| Taxes | 450/3 | - | €959 | +€959 | |
| Accrued charges and deferred income | 492/3 | €1,402 | €2,711 | +€1,309 | +93.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,224 | €7,010 | -€215 | -3.0% |
| Other operating charges | 640/8 | €1,921 | €1,497 | -€424 | -22.1% |
| Gross operating margin | 9900 | €29,262 | €33,826 | +€4,563 | +15.6% |
| Operating profit (loss) | 9901 | €20,117 | €25,320 | +€5,202 | +25.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €8,501 | €8,153 | -€348 | -4.1% |
| Recurring financial charges | 65 | €8,501 | €8,153 | -€348 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €11,616 | €17,167 | +€5,551 | +47.8% |
| Income taxes | 67/77 | €3,679 | €5,459 | +€1,780 | +48.4% |
| Profit (loss) for the period | 9904 | €7,937 | €11,708 | +€3,771 | +47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,937 | €11,708 | +€3,771 | +47.5% |
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 22 October 2026 via checked.be.