IMMO VELDEMAN: 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 VELDEMAN
Largest movements
- Receivables within one year +€3,112
up €3,112 (+150.8%), from €2,063 to €5,176
- Cash +€1,474
up €1,474 (+377.5%), from €391 to €1,865
mainly Net result for the year (+€2,781) and Tax, wage and social debts (+€1,012)
- Tangible fixed assets -€244
down €244 (-1.5%), from €15,941 to €15,697
- Profit (loss) carried forward +€2,688
up €2,688, from -€933 to €1,755
- Tax, wage and social debts +€1,012
up €1,012 (+43.5%), from €2,325 to €3,337
- Trade debts +€549
up €549 (+31.8%), from €1,729 to €2,278
- Gross operating margin -€7,474
down €7,474 (-53.9%), from €13,877 to €6,404
- Taxes -€1,313
down €1,313 (-56.5%), from €2,325 to €1,012
- Other operating charges -€811
down €811 (-24.4%), from €3,321 to €2,510
- Financial charges -€430
down €430 (-89.1%), from €483 to €53
- Financial income +€196
new in 2025: €196
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 | €18,395 | €22,737 | +€4,342 | +23.6% |
| Fixed assets | 21/28 | €15,941 | €15,697 | -€244 | -1.5% |
| Tangible fixed assets | 22/27 | €15,941 | €15,697 | -€244 | -1.5% |
| Land and buildings | 22 | €15,941 | €15,697 | -€244 | -1.5% |
| Current assets | 29/58 | €2,454 | €7,040 | +€4,586 | +186.9% |
| Amounts receivable within one year | 40/41 | €2,063 | €5,176 | +€3,112 | +150.8% |
| Other amounts receivable | 41 | €2,063 | €5,176 | +€3,112 | +150.8% |
| Cash at bank and in hand | 54/58 | €391 | €1,865 | +€1,474 | +377.5% |
| Total equity and liabilities | 10/49 | €18,395 | €22,737 | +€4,342 | +23.6% |
| Equity | 10/15 | €13,821 | €16,602 | +€2,781 | +20.1% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €2,359 | €2,452 | +€92 | +3.9% |
| Non-distributable reserves | 130/1 | €159 | €252 | +€92 | +57.9% |
| Reserves not available under the articles | 1311 | €159 | €252 | +€92 | +57.9% |
| Distributable reserves | 133 | €2,200 | €2,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€933 | €1,755 | +€2,688 | |
| Amounts payable | 17/49 | €4,575 | €6,136 | +€1,561 | +34.1% |
| Amounts payable within one year | 42/48 | €4,575 | €6,136 | +€1,561 | +34.1% |
| Trade debts | 44 | €1,729 | €2,278 | +€549 | +31.8% |
| Suppliers | 440/4 | €1,729 | €2,278 | +€549 | +31.8% |
| Taxes, remuneration and social security | 45 | €2,325 | €3,337 | +€1,012 | +43.5% |
| Taxes | 450/3 | €2,325 | €3,337 | +€1,012 | +43.5% |
| Other amounts payable | 47/48 | €521 | €521 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €244 | €244 | = | 0.0% |
| Other operating charges | 640/8 | €3,321 | €2,510 | -€811 | -24.4% |
| Gross operating margin | 9900 | €13,877 | €6,404 | -€7,474 | -53.9% |
| Operating profit (loss) | 9901 | €10,312 | €3,649 | -€6,663 | -64.6% |
| Financial income | 75/76B | - | €196 | +€196 | |
| Recurring financial income | 75 | - | €196 | +€196 | |
| Financial charges | 65/66B | €483 | €53 | -€430 | -89.1% |
| Recurring financial charges | 65 | €483 | €53 | -€430 | -89.1% |
| Profit (loss) for the period before taxes | 9903 | €9,829 | €3,793 | -€6,036 | -61.4% |
| Income taxes | 67/77 | €2,325 | €1,012 | -€1,313 | -56.5% |
| Profit (loss) for the period | 9904 | €7,504 | €2,781 | -€4,723 | -62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,504 | €2,781 | -€4,723 | -62.9% |
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 11 October 2026 via checked.be.