IMMO VERDO: 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.
What changed
IMMO VERDO
NACE 16.230, Manufacture of other builders' carpentry and joinery
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€10,215
2024 · €11,250-€1,035
Equity
€1.1m
2024 · €1.1m+€10,215
Cash
€10,926
2024 · €9,597+€1,329
Balance sheet total
€4.6m
2024 · €4.7m-€44,237
Largest movements
Assets
- Tangible fixed assets -€56,060
down €56,060 (-1.3%), from €4.5m to €4.4m
of which Land and buildings: -€130,426
Equity and liabilities
- Current portion of long-term debt -€173,713
down €173,713 (-98.9%), from €175,588 to €1,875
- Accrued charges and deferred income +€80,921
new in 2025: €80,921
- Trade debts +€55,066
up €55,066 (+418.7%), from €13,151 to €68,217
Income statement
- Taxes +€17,228
new in 2025: €17,228
- Depreciation +€15,274
up €15,274 (+11.7%), from €130,698 to €145,972
- Other operating charges -€9,862
down €9,862 (-28.3%), from €34,867 to €25,005
- Financial income +€9,511
new in 2025: €9,511
- Financial charges -€8,350
down €8,350 (-10.1%), from €83,056 to €74,705
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.
Result 2024
€11,250
Gross operating margin
+€3,744
Depreciation
-€15,274
Other operating charges
+€9,862
Financial income
+€9,511
Financial charges
+€8,350
Taxes
-€17,228
Result 2025
€10,215
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.
From operations
+€264,954
Investment
-€89,912
Financing
-€173,713
Cash 2024
€9,597
From operations (derived)
+€264,954
Net result for the year
+€10,215
Depreciation
+€145,972
Receivables within one year
-€10,494
Provisions
-€16,727
Trade debts
+€55,066
Accrued charges and deferred income
+€80,921
Investment (derived)
-€89,912
Investment in fixed assets (net)
-€89,912
Financing
-€173,713
Current portion of long-term debt
-€173,713
Cash 2025
€10,926
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,692,357 | €4,648,120 | -€44,237 | -0.9% |
| Fixed assets | 21/28 | €4,478,258 | €4,422,197 | -€56,060 | -1.3% |
| Tangible fixed assets | 22/27 | €4,478,258 | €4,422,197 | -€56,060 | -1.3% |
| Land and buildings | 22 | €4,433,872 | €4,303,446 | -€130,426 | -2.9% |
| Plant, machinery and equipment | 23 | €31,692 | €107,797 | +€76,104 | +240.1% |
| Other tangible fixed assets | 26 | €12,693 | €10,954 | -€1,738 | -13.7% |
| Current assets | 29/58 | €214,099 | €225,923 | +€11,823 | +5.5% |
| Stocks and contracts in progress | 3 | €35,383 | €35,383 | = | 0.0% |
| Stocks | 30/36 | €35,383 | €35,383 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €169,119 | €179,614 | +€10,494 | +6.2% |
| Trade receivables | 40 | €8,799 | €18,554 | +€9,755 | +110.9% |
| Other amounts receivable | 41 | €160,320 | €161,059 | +€739 | +0.5% |
| Cash at bank and in hand | 54/58 | €9,597 | €10,926 | +€1,329 | +13.9% |
| Total equity and liabilities | 10/49 | €4,692,357 | €4,648,120 | -€44,237 | -0.9% |
| Equity | 10/15 | €1,064,740 | €1,074,956 | +€10,215 | +1.0% |
| Contributions | 10/11 | €152,899 | €152,899 | = | 0.0% |
| Reserves | 13 | €1,016,157 | €983,673 | -€32,483 | -3.2% |
| Non-distributable reserves | 130/1 | €16,529 | €16,529 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,529 | €16,529 | = | 0.0% |
| Tax-exempt reserves | 132 | €974,503 | €942,019 | -€32,483 | -3.3% |
| Distributable reserves | 133 | €25,125 | €25,125 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€104,315 | -€61,617 | +€42,699 | +40.9% |
| Provisions and deferred taxes | 16 | €501,793 | €485,066 | -€16,727 | -3.3% |
| Deferred taxes | 168 | €501,793 | €485,066 | -€16,727 | -3.3% |
| Amounts payable | 17/49 | €3,125,824 | €3,088,098 | -€37,726 | -1.2% |
| Amounts payable after more than one year | 17 | €2,912,585 | €2,912,585 | = | 0.0% |
| Financial debts | 170/4 | €2,912,585 | €2,912,585 | = | 0.0% |
| Amounts payable within one year | 42/48 | €213,239 | €94,592 | -€118,646 | -55.6% |
| Current portion of amounts payable after more than one year | 42 | €175,588 | €1,875 | -€173,713 | -98.9% |
| Trade debts | 44 | €13,151 | €68,217 | +€55,066 | +418.7% |
| Suppliers | 440/4 | €13,151 | €68,217 | +€55,066 | +418.7% |
| Other amounts payable | 47/48 | €24,500 | €24,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €80,921 | +€80,921 | |
| Non-recurring operating income | 76A | - | €8,991 | +€8,991 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,698 | €145,972 | +€15,274 | +11.7% |
| Other operating charges | 640/8 | €34,867 | €25,005 | -€9,862 | -28.3% |
| Gross operating margin | 9900 | €243,144 | €246,888 | +€3,744 | +1.5% |
| Operating profit (loss) | 9901 | €77,579 | €75,911 | -€1,668 | -2.1% |
| Financial income | 75/76B | - | €9,511 | +€9,511 | |
| Recurring financial income | 75 | - | €9,511 | +€9,511 | |
| Financial charges | 65/66B | €83,056 | €74,705 | -€8,350 | -10.1% |
| Recurring financial charges | 65 | €83,056 | €74,705 | -€8,350 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,477 | €10,716 | +€16,193 | |
| Transfer from deferred taxes | 780 | €16,727 | €16,727 | = | 0.0% |
| Income taxes | 67/77 | - | €17,228 | +€17,228 | |
| Profit (loss) for the period | 9904 | €11,250 | €10,215 | -€1,035 | -9.2% |
| Transfer from tax-exempt reserves | 789 | €32,483 | €32,483 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,733 | €42,699 | -€1,035 | -2.4% |
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 4 October 2026 via checked.be.