IMMO VERBURGH: 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 VERBURGH
Largest movements
- Stocks and contracts -€74,156
down €74,156 (-63.0%), from €117,777 to €43,621
- Receivables within one year +€57,726
up €57,726 (+91.0%), from €63,432 to €121,159
of which Trade receivables: +€58,359
- Cash -€26,912
down €26,912 (-40.3%), from €66,827 to €39,915
mainly Receivables within one year (-€57,726) and Investment in fixed assets (net) (-€30,517)
- Other debts -€16,331
down €16,331 (-24.0%), from €67,921 to €51,590
- Trade debts -€12,039
down €12,039 (-55.4%), from €21,716 to €9,678
- Profit (loss) carried forward -€7,945
down €7,945 (-14.7%), from €54,190 to €46,246
- Gross operating margin -€12,822
down €12,822 (-24.9%), from €51,427 to €38,605
- Other operating charges -€2,584
down €2,584 (-19.2%), from €13,469 to €10,884
- Financial charges -€1,230
down €1,230 (-56.4%), from €2,181 to €951
- Taxes +€906
up €906 (+723.5%), from €125 to €1,031
- Depreciation +€581
up €581 (+1.7%), from €33,325 to €33,906
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 | €780,499 | €733,761 | -€46,739 | -6.0% |
| Fixed assets | 21/28 | €524,842 | €521,453 | -€3,389 | -0.6% |
| Tangible fixed assets | 22/27 | €524,842 | €521,453 | -€3,389 | -0.6% |
| Land and buildings | 22 | €452,448 | €461,647 | +€9,199 | +2.0% |
| Plant, machinery and equipment | 23 | €47,832 | €41,065 | -€6,767 | -14.1% |
| Furniture and vehicles | 24 | €24,562 | €18,740 | -€5,822 | -23.7% |
| Current assets | 29/58 | €255,657 | €212,308 | -€43,350 | -17.0% |
| Stocks and contracts in progress | 3 | €117,777 | €43,621 | -€74,156 | -63.0% |
| Stocks | 30/36 | €117,777 | €43,621 | -€74,156 | -63.0% |
| Amounts receivable within one year | 40/41 | €63,432 | €121,159 | +€57,726 | +91.0% |
| Trade receivables | 40 | €62,681 | €121,040 | +€58,359 | +93.1% |
| Other amounts receivable | 41 | €751 | €118 | -€633 | -84.2% |
| Cash at bank and in hand | 54/58 | €66,827 | €39,915 | -€26,912 | -40.3% |
| Deferred charges and accrued income | 490/1 | €7,621 | €7,613 | -€8 | -0.1% |
| Total equity and liabilities | 10/49 | €780,499 | €733,761 | -€46,739 | -6.0% |
| Equity | 10/15 | €677,815 | €669,870 | -€7,945 | -1.2% |
| Contributions | 10/11 | €410,000 | €410,000 | = | 0.0% |
| Reserves | 13 | €213,624 | €213,624 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,100 | €4,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,100 | €4,100 | = | 0.0% |
| Distributable reserves | 133 | €209,524 | €209,524 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,190 | €46,246 | -€7,945 | -14.7% |
| Amounts payable | 17/49 | €102,685 | €63,891 | -€38,794 | -37.8% |
| Amounts payable within one year | 42/48 | €98,185 | €63,891 | -€34,294 | -34.9% |
| Trade debts | 44 | €21,716 | €9,678 | -€12,039 | -55.4% |
| Suppliers | 440/4 | €21,716 | €9,678 | -€12,039 | -55.4% |
| Taxes, remuneration and social security | 45 | €8,547 | €2,623 | -€5,924 | -69.3% |
| Taxes | 450/3 | €5,841 | €623 | -€5,218 | -89.3% |
| Remuneration and social security | 454/9 | €2,707 | €2,000 | -€707 | -26.1% |
| Other amounts payable | 47/48 | €67,921 | €51,590 | -€16,331 | -24.0% |
| Accrued charges and deferred income | 492/3 | €4,500 | €0 | -€4,500 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €93 | +€93 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,325 | €33,906 | +€581 | +1.7% |
| Other operating charges | 640/8 | €13,469 | €10,884 | -€2,584 | -19.2% |
| Gross operating margin | 9900 | €51,427 | €38,605 | -€12,822 | -24.9% |
| Operating profit (loss) | 9901 | €4,633 | -€6,279 | -€10,912 | |
| Financial income | 75/76B | €891 | €316 | -€575 | -64.5% |
| Recurring financial income | 75 | €891 | €316 | -€575 | -64.5% |
| Financial charges | 65/66B | €2,181 | €951 | -€1,230 | -56.4% |
| Recurring financial charges | 65 | €2,181 | €951 | -€1,230 | -56.4% |
| Profit (loss) for the period before taxes | 9903 | €3,343 | -€6,914 | -€10,257 | |
| Income taxes | 67/77 | €125 | €1,031 | +€906 | +723.5% |
| Profit (loss) for the period | 9904 | €3,218 | -€7,945 | -€11,163 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,218 | -€7,945 | -€11,163 |
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 3 October 2026 via checked.be.