IMMO VDK: 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 VDK
Largest movements
- Tangible fixed assets -€103,681
no longer reported in 2025 (was €103,681)
- Cash +€92,400
up €92,400 (+44.2%), from €208,839 to €301,239
mainly Net result for the year (+€184,634) and Investment in fixed assets (net) (+€103,681)
- Reserves +€184,634
up €184,634 (+118.5%), from €155,770 to €340,404
of which Distributable reserves: +€184,634
- Other debts -€126,901
down €126,901 (-79.7%), from €159,246 to €32,345
- Provisions -€71,846
down €71,846 (-94.8%), from €75,796 to €3,950
- Gross operating margin +€245,467
up €245,467 (+613.1%), from €40,035 to €285,502
- Taxes +€80,584
up €80,584 (+933.8%), from €8,630 to €89,214
- Depreciation -€5,589
no longer reported in 2025 (was €5,589)
- Financial charges -€4,246
down €4,246 (-99.3%), from €4,276 to €30
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 | €422,520 | €411,239 | -€11,281 | -2.7% |
| Fixed assets | 21/28 | €103,681 | - | -€103,681 | |
| Tangible fixed assets | 22/27 | €103,681 | - | -€103,681 | |
| Other tangible fixed assets | 26 | €103,681 | - | -€103,681 | |
| Current assets | 29/58 | €318,839 | €411,239 | +€92,400 | +29.0% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 41 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €208,839 | €301,239 | +€92,400 | +44.2% |
| Total equity and liabilities | 10/49 | €422,520 | €411,239 | -€11,281 | -2.7% |
| Equity | 10/15 | €167,065 | €351,699 | +€184,634 | +110.5% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €155,770 | €340,404 | +€184,634 | +118.5% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €153,270 | €337,904 | +€184,634 | +120.5% |
| Profit (loss) carried forward | 14 | -€1,205 | -€1,205 | = | 0.0% |
| Provisions and deferred taxes | 16 | €75,796 | €3,950 | -€71,846 | -94.8% |
| Provisions for liabilities and charges | 160/5 | €75,796 | €3,950 | -€71,846 | -94.8% |
| Other liabilities and charges | 164/5 | €75,796 | €3,950 | -€71,846 | -94.8% |
| Amounts payable | 17/49 | €179,659 | €55,590 | -€124,069 | -69.1% |
| Amounts payable within one year | 42/48 | €179,659 | €55,590 | -€124,069 | -69.1% |
| Trade debts | 44 | - | €400 | +€400 | |
| Suppliers | 440/4 | - | €400 | +€400 | |
| Taxes, remuneration and social security | 45 | €20,413 | €22,845 | +€2,432 | +11.9% |
| Taxes | 450/3 | €20,413 | €22,845 | +€2,432 | +11.9% |
| Other amounts payable | 47/48 | €159,246 | €32,345 | -€126,901 | -79.7% |
| Non-recurring operating income | 76A | - | €298,319 | +€298,319 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,589 | - | -€5,589 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €2,034 | €3,950 | +€1,916 | +94.2% |
| Other operating charges | 640/8 | €2,574 | €1,948 | -€626 | -24.3% |
| Non-recurring operating charges | 66A | - | €5,726 | +€5,726 | |
| Gross operating margin | 9900 | €40,035 | €285,502 | +€245,467 | +613.1% |
| Operating profit (loss) | 9901 | €29,838 | €273,878 | +€244,040 | +817.9% |
| Financial charges | 65/66B | €4,276 | €30 | -€4,246 | -99.3% |
| Recurring financial charges | 65 | €4,276 | €30 | -€4,246 | -99.3% |
| Profit (loss) for the period before taxes | 9903 | €25,562 | €273,848 | +€248,286 | +971.3% |
| Income taxes | 67/77 | €8,630 | €89,214 | +€80,584 | +933.8% |
| Profit (loss) for the period | 9904 | €16,932 | €184,634 | +€167,702 | +990.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,932 | €184,634 | +€167,702 | +990.4% |
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 30 September 2026 via checked.be.