Immo VDW: 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 VDW
Largest movements
- Tangible fixed assets -€42,500
down €42,500 (-2.9%), from €1.5m to €1.4m
of which Land and buildings: -€44,133
- Cash +€24,474
up €24,474 (+309%), from €7,909 to €32,382
mainly Depreciation (+€92,467) and Other debts (+€65,216)
- Debts after one year -€76,882
down €76,882 (-12.8%), from €599,953 to €523,071
- Other debts +€65,216
up €65,216 (+12.3%), from €529,241 to €594,457
- Depreciation +€33,793
up €33,793 (+57.6%), from €58,674 to €92,467
- Gross operating margin +€20,803
up €20,803 (+20.8%), from €100,199 to €121,002
- Taxes -€5,016
down €5,016 (-56.5%), from €8,876 to €3,860
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 | €1,512,892 | €1,501,705 | -€11,186 | -0.7% |
| Fixed assets | 21/28 | €1,477,683 | €1,435,183 | -€42,500 | -2.9% |
| Tangible fixed assets | 22/27 | €1,477,683 | €1,435,183 | -€42,500 | -2.9% |
| Land and buildings | 22 | €1,456,534 | €1,412,401 | -€44,133 | -3.0% |
| Plant, machinery and equipment | 23 | €1,150 | €3,493 | +€2,343 | +204% |
| Furniture and vehicles | 24 | €20,000 | €19,289 | -€711 | -3.6% |
| Current assets | 29/58 | €35,208 | €66,522 | +€31,314 | +88.9% |
| Amounts receivable within one year | 40/41 | €2,300 | €6,140 | +€3,840 | +167% |
| Other amounts receivable | 41 | €2,300 | €6,140 | +€3,840 | +167% |
| Current investments | 50/53 | €25,000 | €28,000 | +€3,000 | +12.0% |
| Cash at bank and in hand | 54/58 | €7,909 | €32,382 | +€24,474 | +309% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,512,892 | €1,501,705 | -€11,186 | -0.7% |
| Equity | 10/15 | €274,473 | €282,500 | +€8,027 | +2.9% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €205,873 | €213,900 | +€8,027 | +3.9% |
| Distributable reserves | 133 | €205,873 | €213,900 | +€8,027 | +3.9% |
| Amounts payable | 17/49 | €1,238,419 | €1,219,205 | -€19,214 | -1.6% |
| Amounts payable after more than one year | 17 | €599,953 | €523,071 | -€76,882 | -12.8% |
| Financial debts | 170/4 | €599,953 | €523,071 | -€76,882 | -12.8% |
| Amounts payable within one year | 42/48 | €638,466 | €696,134 | +€57,668 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €83,166 | €90,987 | +€7,820 | +9.4% |
| Trade debts | 44 | €22,230 | €9,788 | -€12,443 | -56.0% |
| Suppliers | 440/4 | €22,230 | €9,788 | -€12,443 | -56.0% |
| Taxes, remuneration and social security | 45 | €3,829 | €904 | -€2,925 | -76.4% |
| Taxes | 450/3 | €3,829 | €904 | -€2,925 | -76.4% |
| Other amounts payable | 47/48 | €529,241 | €594,457 | +€65,216 | +12.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,674 | €92,467 | +€33,793 | +57.6% |
| Other operating charges | 640/8 | €6,058 | €6,296 | +€239 | +3.9% |
| Gross operating margin | 9900 | €100,199 | €121,002 | +€20,803 | +20.8% |
| Operating profit (loss) | 9901 | €35,468 | €22,239 | -€13,229 | -37.3% |
| Financial charges | 65/66B | €10,797 | €10,351 | -€446 | -4.1% |
| Recurring financial charges | 65 | €10,797 | €10,351 | -€446 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €24,670 | €11,888 | -€12,783 | -51.8% |
| Income taxes | 67/77 | €8,876 | €3,860 | -€5,016 | -56.5% |
| Profit (loss) for the period | 9904 | €15,794 | €8,027 | -€7,767 | -49.2% |
| Profit (loss) for the period to be appropriated | 9905 | €15,794 | €8,027 | -€7,767 | -49.2% |
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 24 October 2026 via checked.be.