IMMO VEPA: 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 VEPA
Largest movements
- Cash -€52,530
down €52,530 (-50.9%), from €103,184 to €50,653
mainly Debts after one year (-€94,985) and Investment in fixed assets (net) (-€20,263)
- Debts after one year -€94,985
down €94,985 (-9.6%), from €986,148 to €891,163
- Profit (loss) carried forward +€11,300
up €11,300, from -€11,300 to €0
- Gross operating margin +€7,016
up €7,016 (+11.8%), from €59,632 to €66,648
- Other operating charges +€3,059
up €3,059 (+266%), from €1,149 to €4,208
- Depreciation +€1,851
up €1,851 (+7.3%), from €25,217 to €27,068
- Financial charges -€1,035
down €1,035 (-7.3%), from €14,129 to €13,094
- Taxes +€998
new in 2025: €998
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 | €1,028,012 | €963,665 | -€64,347 | -6.3% |
| Fixed assets | 21/28 | €914,656 | €907,851 | -€6,805 | -0.7% |
| Tangible fixed assets | 22/27 | €914,656 | €907,851 | -€6,805 | -0.7% |
| Land and buildings | 22 | €914,656 | €896,032 | -€18,624 | -2.0% |
| Furniture and vehicles | 24 | - | €11,818 | +€11,818 | |
| Current assets | 29/58 | €113,356 | €55,815 | -€57,541 | -50.8% |
| Amounts receivable within one year | 40/41 | €10,172 | €4,847 | -€5,326 | -52.4% |
| Trade receivables | 40 | €9,472 | €4,147 | -€5,326 | -56.2% |
| Other amounts receivable | 41 | €700 | €700 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €103,184 | €50,653 | -€52,530 | -50.9% |
| Deferred charges and accrued income | 490/1 | - | €315 | +€315 | |
| Total equity and liabilities | 10/49 | €1,028,012 | €963,665 | -€64,347 | -6.3% |
| Equity | 10/15 | -€6,300 | €14,980 | +€21,280 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €9,980 | +€9,980 | |
| Distributable reserves | 133 | - | €9,980 | +€9,980 | |
| Profit (loss) carried forward | 14 | -€11,300 | €0 | +€11,300 | |
| Amounts payable | 17/49 | €1,034,312 | €948,686 | -€85,627 | -8.3% |
| Amounts payable after more than one year | 17 | €986,148 | €891,163 | -€94,985 | -9.6% |
| Financial debts | 170/4 | €986,148 | €891,163 | -€94,985 | -9.6% |
| Amounts payable within one year | 42/48 | €41,918 | €47,363 | +€5,445 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €31,954 | €40,392 | +€8,438 | +26.4% |
| Trade debts | 44 | €8,720 | €4,701 | -€4,020 | -46.1% |
| Suppliers | 440/4 | €8,720 | €4,701 | -€4,020 | -46.1% |
| Taxes, remuneration and social security | 45 | €1,244 | €2,270 | +€1,026 | +82.5% |
| Taxes | 450/3 | €1,244 | €2,270 | +€1,026 | +82.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €6,246 | €10,160 | +€3,914 | +62.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,217 | €27,068 | +€1,851 | +7.3% |
| Other operating charges | 640/8 | €1,149 | €4,208 | +€3,059 | +266% |
| Gross operating margin | 9900 | €59,632 | €66,648 | +€7,016 | +11.8% |
| Operating profit (loss) | 9901 | €33,265 | €35,372 | +€2,106 | +6.3% |
| Financial income | 75/76B | €269 | €0 | -€269 | -100% |
| Recurring financial income | 75 | €269 | €0 | -€269 | -100% |
| Financial charges | 65/66B | €14,129 | €13,094 | -€1,035 | -7.3% |
| Recurring financial charges | 65 | €14,129 | €13,094 | -€1,035 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €19,405 | €22,278 | +€2,873 | +14.8% |
| Income taxes | 67/77 | - | €998 | +€998 | |
| Profit (loss) for the period | 9904 | €19,405 | €21,280 | +€1,875 | +9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,405 | €21,280 | +€1,875 | +9.7% |
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.