IMMO - VERBEECK: 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 - VERBEECK
Largest movements
- Tangible fixed assets -€752,574
down €752,574 (-33.6%), from €2.2m to €1.5m
of which Land and buildings: -€792,517
- Cash +€379,031
up €379,031 (+5,122%), from €7,400 to €386,430
mainly Net result for the year (+€858,402) and Investment in fixed assets (net) (+€628,722)
- Receivables within one year +€24,382
up €24,382 (+65.6%), from €37,153 to €61,535
of which Other amounts receivable: +€24,382
- Reserves +€1.0m
up €1.0m (+833%), from €124,180 to €1.2m
of which Tax-exempt reserves: +€1.0m
- Revaluation surpluses -€645,000
down €645,000 (-86.7%), from €744,000 to €99,000
- Other debts -€412,231
down €412,231 (-100%), from €412,231 to €0
- Debts after one year -€372,543
down €372,543 (-67.5%), from €551,723 to €179,180
of which Other amounts payable: -€302,977
- Provisions +€344,643
up €344,643, from €0 to €344,643
- Gross operating margin +€1.4m
up €1.4m (+4,412%), from €30,657 to €1.4m
- Depreciation -€64,645
down €64,645 (-34.3%), from €188,497 to €123,852
- Financial charges -€40,632
down €40,632 (-67.1%), from €60,582 to €19,951
- Taxes -€38,599
down €38,599 (-87.9%), from €43,897 to €5,298
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 | €2,339,027 | €1,970,877 | -€368,149 | -15.7% |
| Fixed assets | 21/28 | €2,237,283 | €1,484,708 | -€752,574 | -33.6% |
| Tangible fixed assets | 22/27 | €2,236,911 | €1,484,336 | -€752,574 | -33.6% |
| Land and buildings | 22 | €2,210,040 | €1,417,523 | -€792,517 | -35.9% |
| Plant, machinery and equipment | 23 | €10,088 | €53,037 | +€42,949 | +426% |
| Furniture and vehicles | 24 | €4,150 | €2,584 | -€1,567 | -37.7% |
| Other tangible fixed assets | 26 | €12,633 | €11,193 | -€1,440 | -11.4% |
| Financial fixed assets | 28 | €372 | €372 | = | 0.0% |
| Current assets | 29/58 | €101,744 | €486,169 | +€384,425 | +378% |
| Amounts receivable within one year | 40/41 | €37,153 | €61,535 | +€24,382 | +65.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €37,153 | €61,535 | +€24,382 | +65.6% |
| Cash at bank and in hand | 54/58 | €7,400 | €386,430 | +€379,031 | +5,122% |
| Deferred charges and accrued income | 490/1 | €57,191 | €38,203 | -€18,988 | -33.2% |
| Total equity and liabilities | 10/49 | €2,339,027 | €1,970,877 | -€368,149 | -15.7% |
| Equity | 10/15 | €1,168,219 | €1,381,620 | +€213,402 | +18.3% |
| Contributions | 10/11 | €344,076 | €344,076 | = | 0.0% |
| Capital | 10 | €344,076 | €344,076 | = | 0.0% |
| Issued capital | 100 | €344,076 | €344,076 | = | 0.0% |
| Revaluation surpluses | 12 | €744,000 | €99,000 | -€645,000 | -86.7% |
| Reserves | 13 | €124,180 | €1,158,109 | +€1.0m | +833% |
| Non-distributable reserves | 130/1 | €34,408 | €34,408 | = | 0.0% |
| Legal reserve | 130 | €34,408 | €34,408 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | €1,033,930 | +€1.0m | |
| Distributable reserves | 133 | €89,772 | €89,772 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,037 | -€219,565 | -€175,528 | -399% |
| Provisions and deferred taxes | 16 | €0 | €344,643 | +€344,643 | |
| Deferred taxes | 168 | €0 | €344,643 | +€344,643 | |
| Amounts payable | 17/49 | €1,170,808 | €244,614 | -€926,194 | -79.1% |
| Amounts payable after more than one year | 17 | €551,723 | €179,180 | -€372,543 | -67.5% |
| Financial debts | 170/4 | €247,754 | €178,188 | -€69,566 | -28.1% |
| Other amounts payable | 178/9 | €303,969 | €992 | -€302,977 | -99.7% |
| Amounts payable within one year | 42/48 | €561,496 | €65,434 | -€496,062 | -88.3% |
| Current portion of amounts payable after more than one year | 42 | €111,140 | €60,524 | -€50,616 | -45.5% |
| Financial debts | 43 | €25,355 | €0 | -€25,355 | -100% |
| Credit institutions | 430/8 | €25,355 | €0 | -€25,355 | -100% |
| Trade debts | 44 | €9,438 | €1,303 | -€8,135 | -86.2% |
| Suppliers | 440/4 | €9,438 | €1,303 | -€8,135 | -86.2% |
| Taxes, remuneration and social security | 45 | €3,332 | €3,607 | +€275 | +8.3% |
| Taxes | 450/3 | €3,332 | €3,607 | +€275 | +8.3% |
| Other amounts payable | 47/48 | €412,231 | €0 | -€412,231 | -100% |
| Accrued charges and deferred income | 492/3 | €57,589 | €0 | -€57,589 | -100% |
| Non-recurring operating income | 76A | - | €1,394,557 | +€1.4m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188,497 | €123,852 | -€64,645 | -34.3% |
| Other operating charges | 640/8 | €28,893 | €30,984 | +€2,091 | +7.2% |
| Gross operating margin | 9900 | €30,657 | €1,383,119 | +€1.4m | +4,412% |
| Operating profit (loss) | 9901 | -€186,733 | €1,228,283 | +€1.4m | |
| Financial income | 75/76B | €8,873 | €11 | -€8,862 | -99.9% |
| Recurring financial income | 75 | €881 | €11 | -€870 | -98.8% |
| Non-recurring financial income | 76B | €7,992 | €0 | -€7,992 | -100% |
| Financial charges | 65/66B | €60,582 | €19,951 | -€40,632 | -67.1% |
| Recurring financial charges | 65 | €60,582 | €19,951 | -€40,632 | -67.1% |
| Profit (loss) for the period before taxes | 9903 | -€238,442 | €1,208,343 | +€1.4m | |
| Transfer from deferred taxes | 780 | €147,322 | €0 | -€147,322 | -100% |
| Transfer to deferred taxes | 680 | - | €344,643 | +€344,643 | |
| Income taxes | 67/77 | €43,897 | €5,298 | -€38,599 | -87.9% |
| Profit (loss) for the period | 9904 | -€135,017 | €858,402 | +€993,419 | |
| Transfer from tax-exempt reserves | 789 | €446,001 | €0 | -€446,001 | -100% |
| Transfer to tax-exempt reserves | 689 | - | €1,033,930 | +€1.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €310,984 | -€175,528 | -€486,512 |
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 14 October 2026 via checked.be.